M.G. PROJECTS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
M.G. PROJECTS
Largest movements
- Receivables within one year -€141,576
down €141,576 (-18.7%), from €756,946 to €615,370
of which Trade receivables: -€145,647
- Profit (loss) carried forward -€219,687
down €219,687 (-82.3%), from €267,066 to €47,379
- Trade debts +€85,259
up €85,259 (+19.3%), from €440,671 to €525,930
- Gross operating margin -€414,622
down €414,622, from €316,107 to -€98,516
- Other operating charges +€151,985
up €151,985 (+9657.2%), from €1,574 to €153,558
- Write-downs -€6,281
new in 2025: -€6,281
- Financial income -€3,238
down €3,238 (-10.8%), from €29,924 to €26,687
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €775,937 | €641,510 | -€134,428 | -17.3% |
| Current assets | 29/58 | €775,937 | €641,510 | -€134,428 | -17.3% |
| Amounts receivable within one year | 40/41 | €756,946 | €615,370 | -€141,576 | -18.7% |
| Trade receivables | 40 | €145,647 | - | -€145,647 | |
| Other amounts receivable | 41 | €611,299 | €615,370 | +€4,071 | +0.7% |
| Cash at bank and in hand | 54/58 | €18,992 | €26,140 | +€7,148 | +37.6% |
| Total equity and liabilities | 10/49 | €775,937 | €641,510 | -€134,428 | -17.3% |
| Equity | 10/15 | €335,266 | €115,579 | -€219,687 | -65.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €267,066 | €47,379 | -€219,687 | -82.3% |
| Amounts payable | 17/49 | €440,671 | €525,930 | +€85,259 | +19.3% |
| Amounts payable within one year | 42/48 | €440,671 | €525,930 | +€85,259 | +19.3% |
| Trade debts | 44 | €440,671 | €525,930 | +€85,259 | +19.3% |
| Suppliers | 440/4 | €440,671 | €525,930 | +€85,259 | +19.3% |
| Non-recurring operating income | 76A | €21,402 | - | -€21,402 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,281 | -€6,281 | |
| Other operating charges | 640/8 | €1,574 | €153,558 | +€151,985 | +9657.2% |
| Gross operating margin | 9900 | €316,107 | -€98,516 | -€414,622 | |
| Operating profit (loss) | 9901 | €314,533 | -€245,794 | -€560,326 | |
| Financial income | 75/76B | €29,924 | €26,687 | -€3,238 | -10.8% |
| Recurring financial income | 75 | €29,924 | €26,687 | -€3,238 | -10.8% |
| Financial charges | 65/66B | €422 | €580 | +€157 | +37.3% |
| Recurring financial charges | 65 | €422 | €580 | +€157 | +37.3% |
| Profit (loss) for the period before taxes | 9903 | €344,035 | -€219,687 | -€563,722 | |
| Profit (loss) for the period | 9904 | €344,035 | -€219,687 | -€563,722 | |
| Profit (loss) for the period to be appropriated | 9905 | €344,035 | -€219,687 | -€563,722 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.