M&G WINDOWS: 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 WINDOWS
Largest movements
- Cash -€24,469
down €24,469 (-25.9%), from €94,386 to €69,918
mainly Receivables within one year (-€20,947) and Debts after one year (-€7,315)
- Receivables within one year +€20,947
up €20,947 (+37.9%), from €55,331 to €76,278
of which Trade receivables: +€24,870
- Tangible fixed assets -€15,729
down €15,729 (-49.5%), from €31,797 to €16,068
of which Furniture and vehicles: -€16,158
- Deferred charges and accrued income +€2,015
up €2,015 (+212%), from €950 to €2,965
- Debts after one year -€7,315
down €7,315 (-53.6%), from €13,659 to €6,345
- Current portion of long-term debt -€6,709
down €6,709 (-47.8%), from €14,024 to €7,315
- Profit (loss) carried forward +€3,723
up €3,723 (+7.1%), from €52,498 to €56,220
- Tax, wage and social debts -€3,323
down €3,323 (-13.2%), from €25,179 to €21,856
of which Taxes: -€5,923
- Trade debts -€2,987
down €2,987 (-4.3%), from €68,819 to €65,832
- Turnover -€66,466
down €66,466 (-16.2%), from €410,694 to €344,228
- Purchases and services -€42,458
down €42,458 (-11.7%), from €361,702 to €319,244
- Gross operating margin -€24,008
down €24,008 (-49.0%), from €48,992 to €24,984
- Depreciation +€6,193
up €6,193 (+64.9%), from €9,536 to €15,729
- Taxes -€5,923
down €5,923 (-76.1%), from €7,779 to €1,856
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 | €182,464 | €165,228 | -€17,236 | -9.4% |
| Fixed assets | 21/28 | €31,797 | €16,068 | -€15,729 | -49.5% |
| Tangible fixed assets | 22/27 | €31,797 | €16,068 | -€15,729 | -49.5% |
| Plant, machinery and equipment | 23 | €407 | €836 | +€428 | +105% |
| Furniture and vehicles | 24 | €31,390 | €15,232 | -€16,158 | -51.5% |
| Current assets | 29/58 | €150,667 | €149,160 | -€1,507 | -1.0% |
| Amounts receivable within one year | 40/41 | €55,331 | €76,278 | +€20,947 | +37.9% |
| Trade receivables | 40 | €49,373 | €74,243 | +€24,870 | +50.4% |
| Other amounts receivable | 41 | €5,957 | €2,034 | -€3,923 | -65.9% |
| Cash at bank and in hand | 54/58 | €94,386 | €69,918 | -€24,469 | -25.9% |
| Deferred charges and accrued income | 490/1 | €950 | €2,965 | +€2,015 | +212% |
| Total equity and liabilities | 10/49 | €182,464 | €165,228 | -€17,236 | -9.4% |
| Equity | 10/15 | €57,498 | €61,220 | +€3,723 | +6.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,498 | €56,220 | +€3,723 | +7.1% |
| Amounts payable | 17/49 | €124,967 | €104,008 | -€20,959 | -16.8% |
| Amounts payable after more than one year | 17 | €13,659 | €6,345 | -€7,315 | -53.6% |
| Financial debts | 170/4 | €13,659 | €6,345 | -€7,315 | -53.6% |
| Amounts payable within one year | 42/48 | €111,307 | €97,663 | -€13,644 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €14,024 | €7,315 | -€6,709 | -47.8% |
| Trade debts | 44 | €68,819 | €65,832 | -€2,987 | -4.3% |
| Suppliers | 440/4 | €68,819 | €65,832 | -€2,987 | -4.3% |
| Taxes, remuneration and social security | 45 | €25,179 | €21,856 | -€3,323 | -13.2% |
| Taxes | 450/3 | €7,779 | €1,856 | -€5,923 | -76.1% |
| Remuneration and social security | 454/9 | €17,400 | €20,000 | +€2,600 | +14.9% |
| Other amounts payable | 47/48 | €3,286 | €2,661 | -€625 | -19.0% |
| Turnover | 70 | €410,694 | €344,228 | -€66,466 | -16.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €361,702 | €319,244 | -€42,458 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,536 | €15,729 | +€6,193 | +64.9% |
| Other operating charges | 640/8 | €732 | €2,326 | +€1,594 | +218% |
| Gross operating margin | 9900 | €48,992 | €24,984 | -€24,008 | -49.0% |
| Operating profit (loss) | 9901 | €38,723 | €6,929 | -€31,795 | -82.1% |
| Financial income | 75/76B | €12 | €0 | -€12 | -99.2% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -99.2% |
| Financial charges | 65/66B | €1,423 | €1,350 | -€73 | -5.1% |
| Recurring financial charges | 65 | €1,423 | €1,350 | -€73 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €37,313 | €5,578 | -€31,734 | -85.0% |
| Income taxes | 67/77 | €7,779 | €1,856 | -€5,923 | -76.1% |
| Profit (loss) for the period | 9904 | €29,534 | €3,723 | -€25,811 | -87.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,534 | €3,723 | -€25,811 | -87.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.