MG: 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.
MG
Largest movements
- Tangible fixed assets -€4,350
down €4,350 (-26.7%), from €16,300 to €11,950
- Stocks and contracts +€1,086
up €1,086 (+3.8%), from €28,618 to €29,704
- Debts after one year -€4,125
down €4,125 (-24.8%), from €16,655 to €12,530
- Trade debts -€1,348
down €1,348 (-77.3%), from €1,744 to €395
- Profit (loss) carried forward +€1,023
up €1,023 (+2.5%), from €41,201 to €42,224
- Gross operating margin -€18,014
down €18,014 (-60.1%), from €29,978 to €11,965
- Depreciation -€3,382
down €3,382 (-43.7%), from €7,732 to €4,350
- Taxes +€2,362
up €2,362 (+202.4%), from €1,167 to €3,530
- Other operating charges -€618
down €618 (-20.8%), from €2,968 to €2,350
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 | €82,120 | €78,367 | -€3,754 | -4.6% |
| Fixed assets | 21/28 | €16,444 | €12,094 | -€4,350 | -26.5% |
| Tangible fixed assets | 22/27 | €16,300 | €11,950 | -€4,350 | -26.7% |
| Furniture and vehicles | 24 | €16,300 | €11,950 | -€4,350 | -26.7% |
| Financial fixed assets | 28 | €144 | €144 | = | 0.0% |
| Current assets | 29/58 | €65,676 | €66,272 | +€596 | +0.9% |
| Stocks and contracts in progress | 3 | €28,618 | €29,704 | +€1,086 | +3.8% |
| Stocks | 30/36 | €28,618 | €29,704 | +€1,086 | +3.8% |
| Amounts receivable within one year | 40/41 | €25,301 | €25,047 | -€254 | -1.0% |
| Trade receivables | 40 | - | €1,475 | +€1,475 | |
| Other amounts receivable | 41 | €25,301 | €23,572 | -€1,729 | -6.8% |
| Cash at bank and in hand | 54/58 | €6,630 | €6,395 | -€235 | -3.5% |
| Deferred charges and accrued income | 490/1 | €5,126 | €5,126 | = | 0.0% |
| Total equity and liabilities | 10/49 | €82,120 | €78,367 | -€3,754 | -4.6% |
| Equity | 10/15 | €60,041 | €61,064 | +€1,023 | +1.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Capital | 10 | €18,750 | €18,750 | = | 0.0% |
| Issued capital | 100 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €90 | €90 | = | 0.0% |
| Non-distributable reserves | 130/1 | €90 | €90 | = | 0.0% |
| Legal reserve | 130 | €90 | €90 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,201 | €42,224 | +€1,023 | +2.5% |
| Amounts payable | 17/49 | €22,079 | €17,303 | -€4,777 | -21.6% |
| Amounts payable after more than one year | 17 | €16,655 | €12,530 | -€4,125 | -24.8% |
| Financial debts | 170/4 | €16,655 | €12,530 | -€4,125 | -24.8% |
| Amounts payable within one year | 42/48 | €5,424 | €4,773 | -€651 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €3,680 | €3,975 | +€295 | +8.0% |
| Trade debts | 44 | €1,744 | €395 | -€1,348 | -77.3% |
| Suppliers | 440/4 | €1,744 | €395 | -€1,348 | -77.3% |
| Taxes, remuneration and social security | 45 | - | €402 | +€402 | |
| Taxes | 450/3 | - | €402 | +€402 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,732 | €4,350 | -€3,382 | -43.7% |
| Other operating charges | 640/8 | €2,968 | €2,350 | -€618 | -20.8% |
| Gross operating margin | 9900 | €29,978 | €11,965 | -€18,014 | -60.1% |
| Operating profit (loss) | 9901 | €19,278 | €5,264 | -€14,014 | -72.7% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €551 | €715 | +€164 | +29.9% |
| Recurring financial charges | 65 | €551 | €715 | +€164 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €18,728 | €4,553 | -€14,175 | -75.7% |
| Income taxes | 67/77 | €1,167 | €3,530 | +€2,362 | +202.4% |
| Profit (loss) for the period | 9904 | €17,560 | €1,023 | -€16,538 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,560 | €1,023 | -€16,538 | -94.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.