M.P.G.: 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.P.G.
Largest movements
- Receivables after one year -€408,293
down €408,293 (-88.2%), from €463,100 to €54,808
- Tangible fixed assets +€269,674
up €269,674 (+12.1%), from €2.2m to €2.5m
of which Land and buildings: +€272,722
- Cash -€198,540
down €198,540 (-30.2%), from €657,074 to €458,533
mainly Investment in fixed assets (net) (-€391,877) and Other debts (-€212,938)
- Other debts -€212,938
down €212,938 (-61.9%), from €343,771 to €130,833
- Profit (loss) carried forward -€106,688
down €106,688 (-65.1%), from -€163,791 to -€270,479
- Financial income -€186,432
down €186,432 (-97.3%), from €191,640 to €5,207
- Gross operating margin +€30,139
up €30,139, from -€13,279 to €16,860
- Staff costs -€28,468
down €28,468 (-65.5%), from €43,462 to €14,994
- Depreciation +€16,085
up €16,085 (+15.2%), from €106,117 to €122,202
- Financial charges -€5,575
down €5,575 (-27.6%), from €20,218 to €14,643
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.
Derived cash bridge
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 | €3,356,457 | €3,020,041 | -€336,416 | -10.0% |
| Fixed assets | 21/28 | €2,224,153 | €2,493,827 | +€269,674 | +12.1% |
| Tangible fixed assets | 22/27 | €2,224,153 | €2,493,827 | +€269,674 | +12.1% |
| Land and buildings | 22 | €2,220,089 | €2,492,811 | +€272,722 | +12.3% |
| Furniture and vehicles | 24 | €4,064 | €1,016 | -€3,048 | -75.0% |
| Current assets | 29/58 | €1,132,304 | €526,213 | -€606,090 | -53.5% |
| Amounts receivable after more than one year | 29 | €463,100 | €54,808 | -€408,293 | -88.2% |
| Other amounts receivable | 291 | €463,100 | €54,808 | -€408,293 | -88.2% |
| Amounts receivable within one year | 40/41 | €11,926 | €12,654 | +€728 | +6.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €11,926 | €12,654 | +€728 | +6.1% |
| Cash at bank and in hand | 54/58 | €657,074 | €458,533 | -€198,540 | -30.2% |
| Deferred charges and accrued income | 490/1 | €204 | €219 | +€15 | +7.2% |
| Total equity and liabilities | 10/49 | €3,356,457 | €3,020,041 | -€336,416 | -10.0% |
| Equity | 10/15 | €2,777,318 | €2,650,055 | -€127,263 | -4.6% |
| Contributions | 10/11 | €489,000 | €489,000 | = | 0.0% |
| Reserves | 13 | €2,452,109 | €2,431,534 | -€20,575 | -0.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €635,461 | €614,887 | -€20,575 | -3.2% |
| Distributable reserves | 133 | €1,816,648 | €1,816,648 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,791 | -€270,479 | -€106,688 | -65.1% |
| Provisions and deferred taxes | 16 | €211,820 | €204,962 | -€6,858 | -3.2% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €211,820 | €204,962 | -€6,858 | -3.2% |
| Amounts payable | 17/49 | €367,318 | €165,023 | -€202,295 | -55.1% |
| Amounts payable within one year | 42/48 | €367,318 | €161,123 | -€206,195 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,682 | €20,042 | +€16,360 | +444% |
| Suppliers | 440/4 | €3,682 | €20,042 | +€16,360 | +444% |
| Taxes, remuneration and social security | 45 | €19,865 | €10,249 | -€9,617 | -48.4% |
| Taxes | 450/3 | €10,427 | €10,249 | -€178 | -1.7% |
| Remuneration and social security | 454/9 | €9,439 | €0 | -€9,439 | -100% |
| Other amounts payable | 47/48 | €343,771 | €130,833 | -€212,938 | -61.9% |
| Accrued charges and deferred income | 492/3 | - | €3,900 | +€3,900 | |
| Remuneration, social security and pensions | 62 | €43,462 | €14,994 | -€28,468 | -65.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,117 | €122,202 | +€16,085 | +15.2% |
| Other operating charges | 640/8 | €2,568 | €3,100 | +€533 | +20.8% |
| Non-recurring operating charges | 66A | - | €1,089 | +€1,089 | |
| Gross operating margin | 9900 | -€13,279 | €16,860 | +€30,139 | |
| Operating profit (loss) | 9901 | -€165,425 | -€124,526 | +€40,900 | +24.7% |
| Financial income | 75/76B | €191,640 | €5,207 | -€186,432 | -97.3% |
| Recurring financial income | 75 | €191,640 | €5,207 | -€186,432 | -97.3% |
| Financial charges | 65/66B | €20,218 | €14,643 | -€5,575 | -27.6% |
| Recurring financial charges | 65 | €20,218 | €14,643 | -€5,575 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €5,997 | -€133,961 | -€139,958 | |
| Transfer from deferred taxes | 780 | €6,616 | €6,858 | +€242 | +3.7% |
| Income taxes | 67/77 | €4,380 | €160 | -€4,220 | -96.3% |
| Profit (loss) for the period | 9904 | €8,232 | -€127,263 | -€135,495 | |
| Transfer from tax-exempt reserves | 789 | €19,848 | €20,575 | +€727 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,080 | -€106,688 | -€134,768 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.