MCGS: 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.
MCGS
Largest movements
- Tangible fixed assets +€25,206
up €25,206 (+76.0%), from €33,180 to €58,387
of which Furniture and vehicles: +€29,978
- Cash -€11,921
down €11,921 (-31.4%), from €37,906 to €25,986
mainly Contributions, distributions and other (-€136,628) and Debts after one year (-€49,687)
- Other debts +€102,706
up €102,706 (+98.2%), from €104,570 to €207,276
- Debts after one year -€49,687
down €49,687 (-11.4%), from €433,974 to €384,287
- Profit (loss) carried forward -€49,072
down €49,072 (-35.9%), from €136,628 to €87,556
- Tax, wage and social debts +€8,442
up €8,442 (+225%), from €3,757 to €12,199
- Gross operating margin +€16,251
up €16,251 (+15.4%), from €105,571 to €121,823
- Depreciation +€5,285
up €5,285 (+98.8%), from €5,348 to €10,633
- Taxes +€2,923
up €2,923 (+12.6%), from €23,280 to €26,203
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 | €748,582 | €761,819 | +€13,237 | +1.8% |
| Fixed assets | 21/28 | €710,306 | €735,513 | +€25,206 | +3.5% |
| Tangible fixed assets | 22/27 | €33,180 | €58,387 | +€25,206 | +76.0% |
| Plant, machinery and equipment | 23 | €2,034 | €1,101 | -€933 | -45.9% |
| Furniture and vehicles | 24 | €2,385 | €32,363 | +€29,978 | +1,257% |
| Other tangible fixed assets | 26 | €28,761 | €24,922 | -€3,838 | -13.3% |
| Financial fixed assets | 28 | €677,126 | €677,126 | = | 0.0% |
| Current assets | 29/58 | €38,275 | €26,306 | -€11,969 | -31.3% |
| Cash at bank and in hand | 54/58 | €37,906 | €25,986 | -€11,921 | -31.4% |
| Deferred charges and accrued income | 490/1 | €369 | €321 | -€48 | -13.1% |
| Total equity and liabilities | 10/49 | €748,582 | €761,819 | +€13,237 | +1.8% |
| Equity | 10/15 | €155,833 | €106,761 | -€49,072 | -31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €605 | €605 | = | 0.0% |
| Non-distributable reserves | 130/1 | €605 | €605 | = | 0.0% |
| Reserves not available under the articles | 1311 | €605 | €605 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,628 | €87,556 | -€49,072 | -35.9% |
| Amounts payable | 17/49 | €592,749 | €655,058 | +€62,309 | +10.5% |
| Amounts payable after more than one year | 17 | €433,974 | €384,287 | -€49,687 | -11.4% |
| Financial debts | 170/4 | €433,974 | €384,287 | -€49,687 | -11.4% |
| Amounts payable within one year | 42/48 | €157,275 | €269,271 | +€111,996 | +71.2% |
| Current portion of amounts payable after more than one year | 42 | €48,948 | €49,687 | +€739 | +1.5% |
| Trade debts | 44 | - | €109 | +€109 | |
| Suppliers | 440/4 | - | €109 | +€109 | |
| Taxes, remuneration and social security | 45 | €3,757 | €12,199 | +€8,442 | +225% |
| Taxes | 450/3 | €3,757 | €12,199 | +€8,442 | +225% |
| Other amounts payable | 47/48 | €104,570 | €207,276 | +€102,706 | +98.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €3,250 | +€3,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,348 | €10,633 | +€5,285 | +98.8% |
| Other operating charges | 640/8 | €964 | €690 | -€274 | -28.4% |
| Gross operating margin | 9900 | €105,571 | €121,823 | +€16,251 | +15.4% |
| Operating profit (loss) | 9901 | €99,259 | €110,500 | +€11,241 | +11.3% |
| Financial income | 75/76B | €14,000 | €14,000 | = | 0.0% |
| Recurring financial income | 75 | €14,000 | €14,000 | = | 0.0% |
| Financial charges | 65/66B | €9,818 | €10,741 | +€923 | +9.4% |
| Recurring financial charges | 65 | €9,818 | €10,741 | +€923 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €103,441 | €113,759 | +€10,318 | +10.0% |
| Income taxes | 67/77 | €23,280 | €26,203 | +€2,923 | +12.6% |
| Profit (loss) for the period | 9904 | €80,161 | €87,556 | +€7,395 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,161 | €87,556 | +€7,395 | +9.2% |
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 16 October 2026 via checked.be.