M.G. STYLE: what changed
Two financial 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. STYLE
Largest movements
- Receivables within one year -€16,934
down €16,934 (-70.8%), from €23,923 to €6,989
of which Trade receivables: -€9,286
- Tangible fixed assets -€3,800
down €3,800 (-5.1%), from €74,600 to €70,800
of which Land and buildings: -€3,800
- Debts after one year -€20,553
down €20,553 (-25.3%), from €81,100 to €60,548
- Current portion of long-term debt +€8,783
new in 2025: €8,783
- Tax, wage and social debts -€8,216
down €8,216 (-82.9%), from €9,908 to €1,692
of which Taxes: -€6,716
- Short-term financial debts -€7,251
down €7,251 (-50.1%), from €14,459 to €7,209
- Profit (loss) carried forward +€4,870
up €4,870 (+15.2%), from -€32,114 to -€27,244
- Gross operating margin +€33,009
up €33,009, from -€2,007 to €31,002
- Write-downs +€7,995
new in 2025: €7,995
- Financial charges +€3,367
up €3,367 (+53.7%), from €6,272 to €9,640
- Other operating charges +€3,081
up €3,081 (+332%), from €928 to €4,009
- Financial income -€1,222
down €1,222 (-71.6%), from €1,707 to €485
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.
Derived cash bridge
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 | €99,650 | €79,086 | -€20,564 | -20.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €74,761 | €70,961 | -€3,800 | -5.1% |
| Tangible fixed assets | 22/27 | €74,600 | €70,800 | -€3,800 | -5.1% |
| Land and buildings | 22 | €74,600 | €70,800 | -€3,800 | -5.1% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €24,889 | €8,125 | -€16,764 | -67.4% |
| Amounts receivable within one year | 40/41 | €23,923 | €6,989 | -€16,934 | -70.8% |
| Trade receivables | 40 | €15,108 | €5,822 | -€9,286 | -61.5% |
| Other amounts receivable | 41 | €8,815 | €1,168 | -€7,648 | -86.8% |
| Cash at bank and in hand | 54/58 | €40 | €199 | +€159 | +395% |
| Deferred charges and accrued income | 490/1 | €925 | €937 | +€11 | +1.2% |
| Total equity and liabilities | 10/49 | €99,650 | €79,086 | -€20,564 | -20.6% |
| Equity | 10/15 | -€13,522 | -€8,652 | +€4,870 | +36.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,114 | -€27,244 | +€4,870 | +15.2% |
| Amounts payable | 17/49 | €113,172 | €87,738 | -€25,434 | -22.5% |
| Amounts payable after more than one year | 17 | €81,100 | €60,548 | -€20,553 | -25.3% |
| Financial debts | 170/4 | €81,100 | €60,548 | -€20,553 | -25.3% |
| Amounts payable within one year | 42/48 | €31,822 | €27,190 | -€4,631 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,783 | +€8,783 | |
| Financial debts | 43 | €14,459 | €7,209 | -€7,251 | -50.1% |
| Credit institutions | 430/8 | €14,459 | €7,209 | -€7,251 | -50.1% |
| Trade debts | 44 | €7,454 | €9,506 | +€2,052 | +27.5% |
| Suppliers | 440/4 | €7,454 | €9,506 | +€2,052 | +27.5% |
| Taxes, remuneration and social security | 45 | €9,908 | €1,692 | -€8,216 | -82.9% |
| Taxes | 450/3 | €8,408 | €1,692 | -€6,716 | -79.9% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Accrued charges and deferred income | 492/3 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,959 | €3,800 | -€159 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,995 | +€7,995 | |
| Other operating charges | 640/8 | €928 | €4,009 | +€3,081 | +332% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Gross operating margin | 9900 | -€2,007 | €31,002 | +€33,009 | |
| Operating profit (loss) | 9901 | -€6,894 | €15,198 | +€22,092 | |
| Financial income | 75/76B | €1,707 | €485 | -€1,222 | -71.6% |
| Recurring financial income | 75 | €1,707 | €485 | -€1,222 | -71.6% |
| Financial charges | 65/66B | €6,272 | €9,640 | +€3,367 | +53.7% |
| Recurring financial charges | 65 | €6,272 | €9,640 | +€3,367 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,459 | €6,044 | +€17,503 | |
| Income taxes | 67/77 | €2,004 | €1,174 | -€830 | -41.4% |
| Profit (loss) for the period | 9904 | -€13,463 | €4,870 | +€18,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,463 | €4,870 | +€18,333 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.