MA-GO: 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.
MA-GO
Largest movements
- Receivables after one year +€311,456
up €311,456 (+2831.4%), from €11,000 to €322,456
- Tangible fixed assets +€121,280
up €121,280 (+5323.0%), from €2,278 to €123,558
- Receivables within one year -€58,234
down €58,234 (-58.4%), from €99,734 to €41,500
of which Other amounts receivable: -€47,338
- Deferred charges and accrued income -€17,945
down €17,945 (-53.5%), from €33,566 to €15,621
- Other debts +€345,440
up €345,440 (+4042.6%), from €8,545 to €353,985
- Profit (loss) carried forward +€15,491
up €15,491 (+18.6%), from €83,319 to €98,810
- Gross operating margin +€33,845
up €33,845 (+76.2%), from €44,416 to €78,261
- Financial charges +€29,105
up €29,105 (+1725.3%), from €1,687 to €30,792
- Depreciation +€26,723
up €26,723 (+7733.2%), from €346 to €27,069
- Financial income +€5,412
up €5,412 (+56.6%), from €9,566 to €14,977
- Taxes +€1,819
up €1,819 (+16.4%), from €11,084 to €12,904
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.
Cash bridge derived
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 | €153,785 | €509,786 | +€356,000 | +231.5% |
| Fixed assets | 21/28 | €2,278 | €123,558 | +€121,280 | +5323.0% |
| Tangible fixed assets | 22/27 | €2,278 | €123,558 | +€121,280 | +5323.0% |
| Furniture and vehicles | 24 | €2,278 | €123,558 | +€121,280 | +5323.0% |
| Current assets | 29/58 | €151,507 | €386,227 | +€234,720 | +154.9% |
| Amounts receivable after more than one year | 29 | €11,000 | €322,456 | +€311,456 | +2831.4% |
| Other amounts receivable | 291 | €11,000 | €322,456 | +€311,456 | +2831.4% |
| Amounts receivable within one year | 40/41 | €99,734 | €41,500 | -€58,234 | -58.4% |
| Trade receivables | 40 | €52,397 | €41,500 | -€10,897 | -20.8% |
| Other amounts receivable | 41 | €47,338 | €0 | -€47,338 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,206 | €6,651 | -€555 | -7.7% |
| Deferred charges and accrued income | 490/1 | €33,566 | €15,621 | -€17,945 | -53.5% |
| Total equity and liabilities | 10/49 | €153,785 | €509,786 | +€356,000 | +231.5% |
| Equity | 10/15 | €88,319 | €103,810 | +€15,491 | +17.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,319 | €98,810 | +€15,491 | +18.6% |
| Amounts payable | 17/49 | €65,466 | €405,975 | +€340,509 | +520.1% |
| Amounts payable within one year | 42/48 | €65,316 | €405,975 | +€340,659 | +521.6% |
| Trade debts | 44 | €5,056 | €992 | -€4,064 | -80.4% |
| Suppliers | 440/4 | €5,056 | €992 | -€4,064 | -80.4% |
| Taxes, remuneration and social security | 45 | €51,715 | €50,998 | -€717 | -1.4% |
| Taxes | 450/3 | €51,715 | €50,998 | -€717 | -1.4% |
| Other amounts payable | 47/48 | €8,545 | €353,985 | +€345,440 | +4042.6% |
| Accrued charges and deferred income | 492/3 | €150 | €0 | -€150 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346 | €27,069 | +€26,723 | +7733.2% |
| Other operating charges | 640/8 | €5,948 | €6,983 | +€1,036 | +17.4% |
| Gross operating margin | 9900 | €44,416 | €78,261 | +€33,845 | +76.2% |
| Operating profit (loss) | 9901 | €38,122 | €44,209 | +€6,087 | +16.0% |
| Financial income | 75/76B | €9,566 | €14,977 | +€5,412 | +56.6% |
| Recurring financial income | 75 | €9,566 | €14,977 | +€5,412 | +56.6% |
| Financial charges | 65/66B | €1,687 | €30,792 | +€29,105 | +1725.3% |
| Recurring financial charges | 65 | €1,687 | €30,792 | +€29,105 | +1725.3% |
| Profit (loss) for the period before taxes | 9903 | €46,001 | €28,395 | -€17,606 | -38.3% |
| Income taxes | 67/77 | €11,084 | €12,904 | +€1,819 | +16.4% |
| Profit (loss) for the period | 9904 | €34,917 | €15,491 | -€19,426 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,917 | €15,491 | -€19,426 | -55.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.