M G S ELECTRONICS: 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 S ELECTRONICS
Largest movements
- Tangible fixed assets -€1.4m
down €1.4m (-63.3%), from €2.2m to €798,224
of which Land and buildings: -€893,842
- Current investments +€1.3m
new in 2024: €1.3m
- Cash +€505,012
up €505,012 (+2561.8%), from €19,713 to €524,726
mainly Investment in fixed assets (net) (+€854,784) and Net result for the year (+€795,058)
- Financial fixed assets +€496,105
up €496,105 (+31.3%), from €1.6m to €2.1m
- Stocks and contracts -€127,186
no longer reported in 2024 (was €127,186)
- Profit (loss) carried forward +€899,151
new in 2024: €899,151
- Tax, wage and social debts +€207,390
up €207,390 (+37707.3%), from €550 to €207,940
- Debts after one year -€148,233
down €148,233 (-8.6%), from €1.7m to €1.6m
- Reserves -€104,093
down €104,093 (-5.3%), from €2.0m to €1.9m
of which Tax-exempt reserves: -€104,093
- Provisions -€91,687
down €91,687 (-29.9%), from €306,310 to €214,623
- Gross operating margin +€980,743
up €980,743 (+5762.7%), from €17,019 to €997,761
- Taxes +€187,874
up €187,874 (+32800.4%), from €573 to €188,447
- Depreciation -€83,620
down €83,620 (-74.5%), from €112,287 to €28,667
- Write-downs -€43,075
no longer reported in 2024 (was €43,075)
- Other operating charges +€24,163
up €24,163 (+79.0%), from €30,583 to €54,746
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,322,841 | €5,099,815 | +€776,974 | +18.0% |
| Fixed assets | 21/28 | €3,762,754 | €2,879,303 | -€883,451 | -23.5% |
| Tangible fixed assets | 22/27 | €2,177,780 | €798,224 | -€1.4m | -63.3% |
| Land and buildings | 22 | €1,677,287 | €783,445 | -€893,842 | -53.3% |
| Plant, machinery and equipment | 23 | €499,377 | €13,922 | -€485,454 | -97.2% |
| Furniture and vehicles | 24 | €1,117 | €857 | -€260 | -23.3% |
| Financial fixed assets | 28 | €1,584,973 | €2,081,078 | +€496,105 | +31.3% |
| Current assets | 29/58 | €560,088 | €2,220,512 | +€1.7m | +296.5% |
| Amounts receivable after more than one year | 29 | €183,679 | €194,679 | +€11,000 | +6.0% |
| Other amounts receivable | 291 | €183,679 | €194,679 | +€11,000 | +6.0% |
| Stocks and contracts in progress | 3 | €127,186 | - | -€127,186 | |
| Stocks | 30/36 | €127,186 | - | -€127,186 | |
| Amounts receivable within one year | 40/41 | €220,964 | €149,003 | -€71,960 | -32.6% |
| Trade receivables | 40 | €39,669 | €121,787 | +€82,118 | +207.0% |
| Other amounts receivable | 41 | €181,294 | €27,216 | -€154,078 | -85.0% |
| Current investments | 50/53 | - | €1,348,000 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €19,713 | €524,726 | +€505,012 | +2561.8% |
| Deferred charges and accrued income | 490/1 | €8,545 | €4,104 | -€4,441 | -52.0% |
| Total equity and liabilities | 10/49 | €4,322,841 | €5,099,815 | +€776,974 | +18.0% |
| Equity | 10/15 | €2,035,364 | €2,830,422 | +€795,058 | +39.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,960,364 | €1,856,271 | -€104,093 | -5.3% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €594,577 | €490,484 | -€104,093 | -17.5% |
| Distributable reserves | 133 | €1,358,288 | €1,358,288 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €899,151 | +€899,151 | |
| Provisions and deferred taxes | 16 | €306,310 | €214,623 | -€91,687 | -29.9% |
| Deferred taxes | 168 | €306,310 | €214,623 | -€91,687 | -29.9% |
| Amounts payable | 17/49 | €1,981,167 | €2,054,770 | +€73,603 | +3.7% |
| Amounts payable after more than one year | 17 | €1,720,175 | €1,571,942 | -€148,233 | -8.6% |
| Financial debts | 170/4 | €1,720,175 | €1,571,942 | -€148,233 | -8.6% |
| Amounts payable within one year | 42/48 | €245,492 | €480,328 | +€234,836 | +95.7% |
| Current portion of amounts payable after more than one year | 42 | €146,284 | €148,233 | +€1,949 | +1.3% |
| Trade debts | 44 | €94,057 | €119,555 | +€25,497 | +27.1% |
| Suppliers | 440/4 | €94,057 | €119,555 | +€25,497 | +27.1% |
| Taxes, remuneration and social security | 45 | €550 | €207,940 | +€207,390 | +37707.3% |
| Taxes | 450/3 | €550 | €207,940 | +€207,390 | +37707.3% |
| Other amounts payable | 47/48 | €4,600 | €4,600 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,500 | €2,500 | -€13,000 | -83.9% |
| Non-recurring operating income | 76A | - | €1,227,921 | +€1.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,287 | €28,667 | -€83,620 | -74.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €43,075 | - | -€43,075 | |
| Other operating charges | 640/8 | €30,583 | €54,746 | +€24,163 | +79.0% |
| Gross operating margin | 9900 | €17,019 | €997,761 | +€980,743 | +5762.7% |
| Operating profit (loss) | 9901 | -€168,926 | €914,349 | +€1.1m | |
| Financial income | 75/76B | €14,803 | €17,314 | +€2,511 | +17.0% |
| Recurring financial income | 75 | €14,803 | €17,314 | +€2,511 | +17.0% |
| Financial charges | 65/66B | €36,157 | €39,845 | +€3,688 | +10.2% |
| Recurring financial charges | 65 | €36,157 | €39,845 | +€3,688 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | -€190,281 | €891,817 | +€1.1m | |
| Transfer from deferred taxes | 780 | €11,542 | €161,522 | +€149,980 | +1299.5% |
| Transfer to deferred taxes | 680 | - | €69,835 | +€69,835 | |
| Income taxes | 67/77 | €573 | €188,447 | +€187,874 | +32800.4% |
| Profit (loss) for the period | 9904 | -€179,312 | €795,058 | +€974,369 | |
| Transfer from tax-exempt reserves | 789 | €22,409 | €313,596 | +€291,188 | +1299.4% |
| Transfer to tax-exempt reserves | 689 | - | €209,504 | +€209,504 | |
| Profit (loss) for the period to be appropriated | 9905 | -€156,903 | €899,151 | +€1.1m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.