M.G.R.: what changed
What changed
M.G.R.
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€347,270
2024 · €826,138-€478,868
Equity
€11.5m
2024 · €11.3m+€172,191
Cash
€745,833
2024 · €521,230+€224,603
Balance sheet total
€11.6m
2024 · €11.6m+€7,402
Largest movements
Assets
- Receivables within one year -€231,027
down €231,027 (-28.1%), from €820,982 to €589,955
of which Trade receivables: -€206,261
- Cash +€224,603
up €224,603 (+43.1%), from €521,230 to €745,833
mainly Net result for the year (+€347,270) and Receivables within one year (+€231,027)
Equity and liabilities
- Reserves +€347,270
up €347,270 (+3.1%), from €11.1m to €11.4m
- Revaluation surpluses -€175,078
no longer reported in 2025 (was €175,078)
Income statement
- Gross operating margin -€769,687
down €769,687 (-57.7%), from €1.3m to €563,169
- Taxes -€223,325
down €223,325 (-72.6%), from €307,721 to €84,395
- Depreciation -€69,194
down €69,194 (-70.7%), from €97,850 to €28,656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€826,138
Gross operating margin
-€769,687
Staff costs
-€7,237
Depreciation
+€69,194
Other operating charges
-€490
Other operating items
-€15,576
Financial income
+€9,696
Financial charges
+€11,906
Taxes
+€223,325
Result 2025
€347,270
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€528,315
Investment
-€53,633
Financing
-€250,078
Cash 2024
€521,230
From operations (derived)
+€528,315
Net result for the year
+€347,270
Depreciation
+€28,656
Receivables within one year
+€231,027
Deferred charges and accrued income
+€11,152
Trade debts
+€23,739
Tax, wage and social debts
-€62,836
Other debts
-€10,004
Accrued charges and deferred income
-€40,689
Investment (derived)
-€53,633
Investment in fixed assets (net)
-€51,400
Current investments
-€2,233
Financing
-€250,078
Debts after one year
-€75,000
Contributions, distributions and other
-€175,078
Cash 2025
€745,833
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,642,504 | €11,649,906 | +€7,402 | +0.1% |
| Fixed assets | 21/28 | €10,085,433 | €10,108,177 | +€22,744 | +0.2% |
| Tangible fixed assets | 22/27 | €10,050,647 | €10,074,391 | +€23,744 | +0.2% |
| Land and buildings | 22 | €869,841 | €660,446 | -€209,395 | -24.1% |
| Plant, machinery and equipment | 23 | €9,904 | €8,862 | -€1,042 | -10.5% |
| Furniture and vehicles | 24 | €9,170,902 | €9,162,028 | -€8,874 | -0.1% |
| Assets under construction and advance payments | 27 | - | €243,054 | +€243,054 | |
| Financial fixed assets | 28 | €34,786 | €33,786 | -€1,000 | -2.9% |
| Current assets | 29/58 | €1,557,071 | €1,541,729 | -€15,342 | -1.0% |
| Amounts receivable within one year | 40/41 | €820,982 | €589,955 | -€231,027 | -28.1% |
| Trade receivables | 40 | €771,217 | €564,956 | -€206,261 | -26.7% |
| Other amounts receivable | 41 | €49,765 | €24,999 | -€24,766 | -49.8% |
| Current investments | 50/53 | €196,949 | €199,182 | +€2,233 | +1.1% |
| Cash at bank and in hand | 54/58 | €521,230 | €745,833 | +€224,603 | +43.1% |
| Deferred charges and accrued income | 490/1 | €17,910 | €6,759 | -€11,152 | -62.3% |
| Total equity and liabilities | 10/49 | €11,642,504 | €11,649,906 | +€7,402 | +0.1% |
| Equity | 10/15 | €11,295,974 | €11,468,165 | +€172,191 | +1.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €175,078 | - | -€175,078 | |
| Reserves | 13 | €11,059,395 | €11,406,665 | +€347,270 | +3.1% |
| Distributable reserves | 133 | €11,059,395 | €11,406,665 | +€347,270 | +3.1% |
| Amounts payable | 17/49 | €346,530 | €181,741 | -€164,789 | -47.6% |
| Amounts payable after more than one year | 17 | €75,000 | - | -€75,000 | |
| Financial debts | 170/4 | €75,000 | - | -€75,000 | |
| Amounts payable within one year | 42/48 | €180,075 | €130,974 | -€49,101 | -27.3% |
| Trade debts | 44 | €20,547 | €44,286 | +€23,739 | +116% |
| Suppliers | 440/4 | €20,547 | €44,286 | +€23,739 | +116% |
| Taxes, remuneration and social security | 45 | €149,145 | €86,310 | -€62,836 | -42.1% |
| Taxes | 450/3 | €144,491 | €78,035 | -€66,457 | -46.0% |
| Remuneration and social security | 454/9 | €4,654 | €8,275 | +€3,621 | +77.8% |
| Other amounts payable | 47/48 | €10,382 | €378 | -€10,004 | -96.4% |
| Accrued charges and deferred income | 492/3 | €91,456 | €50,767 | -€40,689 | -44.5% |
| Remuneration, social security and pensions | 62 | €83,020 | €90,257 | +€7,237 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,850 | €28,656 | -€69,194 | -70.7% |
| Other operating charges | 640/8 | €5,993 | €6,483 | +€490 | +8.2% |
| Non-recurring operating charges | 66A | - | €15,576 | +€15,576 | |
| Gross operating margin | 9900 | €1,332,855 | €563,169 | -€769,687 | -57.7% |
| Operating profit (loss) | 9901 | €1,145,993 | €422,198 | -€723,795 | -63.2% |
| Financial income | 75/76B | €5,519 | €15,214 | +€9,696 | +176% |
| Recurring financial income | 75 | €5,519 | €15,188 | +€9,669 | +175% |
| Non-recurring financial income | 76B | - | €27 | +€27 | |
| Financial charges | 65/66B | €17,653 | €5,747 | -€11,906 | -67.4% |
| Recurring financial charges | 65 | €19,936 | €7,980 | -€11,956 | -60.0% |
| Non-recurring financial charges | 66B | -€2,284 | -€2,233 | +€50 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €1,133,859 | €431,665 | -€702,194 | -61.9% |
| Income taxes | 67/77 | €307,721 | €84,395 | -€223,325 | -72.6% |
| Profit (loss) for the period | 9904 | €826,138 | €347,270 | -€478,868 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €826,138 | €347,270 | -€478,868 | -58.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.