MCG: 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.
MCG
Largest movements
- Tangible fixed assets -€19,254
down €19,254 (-3.9%), from €493,903 to €474,649
of which Land and buildings: -€18,359
- Debts after one year -€6,142
down €6,142 (-8.2%), from €75,068 to €68,925
of which Financial debts: -€6,142
- Other debts -€5,737
down €5,737 (-5.6%), from €101,811 to €96,074
- Gross operating margin -€2,003
down €2,003 (-12.5%), from €16,071 to €14,069
- Depreciation -€1,316
down €1,316 (-6.4%), from €20,570 to €19,254
- Financial charges -€178
down €178 (-8.1%), from €2,190 to €2,012
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 | €497,439 | €476,401 | -€21,038 | -4.2% |
| Fixed assets | 21/28 | €493,903 | €474,649 | -€19,254 | -3.9% |
| Tangible fixed assets | 22/27 | €493,903 | €474,649 | -€19,254 | -3.9% |
| Land and buildings | 22 | €492,061 | €473,703 | -€18,359 | -3.7% |
| Plant, machinery and equipment | 23 | €1,841 | €946 | -€895 | -48.6% |
| Current assets | 29/58 | €3,536 | €1,752 | -€1,784 | -50.5% |
| Cash at bank and in hand | 54/58 | €3,130 | €1,535 | -€1,595 | -51.0% |
| Deferred charges and accrued income | 490/1 | €406 | €216 | -€189 | -46.7% |
| Total equity and liabilities | 10/49 | €497,439 | €476,401 | -€21,038 | -4.2% |
| Equity | 10/15 | €293,722 | €285,272 | -€8,450 | -2.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €294,497 | €290,955 | -€3,542 | -1.2% |
| Tax-exempt reserves | 132 | €61,362 | €57,820 | -€3,542 | -5.8% |
| Distributable reserves | 133 | €233,135 | €233,135 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,776 | -€45,683 | -€4,907 | -12.0% |
| Provisions and deferred taxes | 16 | €20,454 | €19,273 | -€1,181 | -5.8% |
| Deferred taxes | 168 | €20,454 | €19,273 | -€1,181 | -5.8% |
| Amounts payable | 17/49 | €183,263 | €171,855 | -€11,408 | -6.2% |
| Amounts payable after more than one year | 17 | €75,068 | €68,925 | -€6,142 | -8.2% |
| Financial debts | 170/4 | €69,737 | €63,595 | -€6,142 | -8.8% |
| Other amounts payable | 178/9 | €5,331 | €5,331 | = | 0.0% |
| Amounts payable within one year | 42/48 | €108,196 | €102,330 | -€5,866 | -5.4% |
| Financial debts | 43 | €6,006 | €6,142 | +€136 | +2.3% |
| Credit institutions | 430/8 | €6,006 | €6,142 | +€136 | +2.3% |
| Trade debts | 44 | €378 | €114 | -€265 | -70.0% |
| Suppliers | 440/4 | €378 | €114 | -€265 | -70.0% |
| Other amounts payable | 47/48 | €101,811 | €96,074 | -€5,737 | -5.6% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,570 | €19,254 | -€1,316 | -6.4% |
| Other operating charges | 640/8 | €2,338 | €2,433 | +€95 | +4.0% |
| Gross operating margin | 9900 | €16,071 | €14,069 | -€2,003 | -12.5% |
| Operating profit (loss) | 9901 | -€6,837 | -€7,618 | -€782 | -11.4% |
| Financial charges | 65/66B | €2,190 | €2,012 | -€178 | -8.1% |
| Recurring financial charges | 65 | €2,190 | €2,012 | -€178 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,027 | -€9,630 | -€604 | -6.7% |
| Transfer from deferred taxes | 780 | €1,181 | €1,181 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€7,846 | -€8,450 | -€604 | -7.7% |
| Transfer from tax-exempt reserves | 789 | €3,542 | €3,542 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,304 | -€4,907 | -€604 | -14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.