MG: 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.
MG
Largest movements
- Tangible fixed assets +€38,812
up €38,812 (+3,027%), from €1,282 to €40,094
- Stocks and contracts +€34,874
up €34,874 (+63.1%), from €55,298 to €90,173
- Cash -€15,155
down €15,155 (-90.3%), from €16,792 to €1,636
mainly Investment in fixed assets (net) (-€45,835) and Stocks and contracts (-€34,874)
- Receivables within one year +€7,919
up €7,919 (+2,122%), from €373 to €8,292
of which Other amounts receivable: +€4,804
- Tax, wage and social debts +€14,017
up €14,017 (+134%), from €10,452 to €24,468
of which Remuneration and social security: +€15,328
- Other debts +€13,122
new in 2025: €13,122
- Debts after one year +€12,299
new in 2025: €12,299
- Profit (loss) carried forward +€12,222
up €12,222 (+50.5%), from €24,194 to €36,416
- Current portion of long-term debt +€11,898
new in 2025: €11,898
- Purchases and services +€52,328
up €52,328 (+12.0%), from €434,857 to €487,185
- Turnover +€39,403
up €39,403 (+10.0%), from €393,559 to €432,962
- Gross operating margin +€14,991
up €14,991 (+78.4%), from €19,114 to €34,105
- Other operating charges +€7,420
up €7,420 (+691%), from €1,074 to €8,494
- Depreciation +€6,802
up €6,802 (+3,078%), from €221 to €7,023
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 | €73,745 | €140,589 | +€66,844 | +90.6% |
| Fixed assets | 21/28 | €1,282 | €40,094 | +€38,812 | +3,027% |
| Tangible fixed assets | 22/27 | €1,282 | €40,094 | +€38,812 | +3,027% |
| Furniture and vehicles | 24 | €1,282 | €40,094 | +€38,812 | +3,027% |
| Current assets | 29/58 | €72,463 | €100,495 | +€28,032 | +38.7% |
| Stocks and contracts in progress | 3 | €55,298 | €90,173 | +€34,874 | +63.1% |
| Stocks | 30/36 | €55,298 | €90,173 | +€34,874 | +63.1% |
| Amounts receivable within one year | 40/41 | €373 | €8,292 | +€7,919 | +2,122% |
| Trade receivables | 40 | €140 | €3,255 | +€3,115 | +2,226% |
| Other amounts receivable | 41 | €233 | €5,037 | +€4,804 | +2,059% |
| Cash at bank and in hand | 54/58 | €16,792 | €1,636 | -€15,155 | -90.3% |
| Deferred charges and accrued income | 490/1 | - | €394 | +€394 | |
| Total equity and liabilities | 10/49 | €73,745 | €140,589 | +€66,844 | +90.6% |
| Equity | 10/15 | €44,654 | €56,876 | +€12,222 | +27.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,194 | €36,416 | +€12,222 | +50.5% |
| Amounts payable | 17/49 | €29,091 | €83,713 | +€54,622 | +188% |
| Amounts payable after more than one year | 17 | - | €12,299 | +€12,299 | |
| Financial debts | 170/4 | - | €12,299 | +€12,299 | |
| Amounts payable within one year | 42/48 | €29,091 | €71,414 | +€42,323 | +145% |
| Current portion of amounts payable after more than one year | 42 | - | €11,898 | +€11,898 | |
| Trade debts | 44 | €18,640 | €21,926 | +€3,286 | +17.6% |
| Suppliers | 440/4 | €18,640 | €21,926 | +€3,286 | +17.6% |
| Taxes, remuneration and social security | 45 | €10,452 | €24,468 | +€14,017 | +134% |
| Taxes | 450/3 | €7,952 | €6,640 | -€1,312 | -16.5% |
| Remuneration and social security | 454/9 | €2,500 | €17,828 | +€15,328 | +613% |
| Other amounts payable | 47/48 | - | €13,122 | +€13,122 | |
| Turnover | 70 | €393,559 | €432,962 | +€39,403 | +10.0% |
| Non-recurring operating income | 76A | - | €2,644 | +€2,644 | |
| Goods, raw materials, services and sundry goods | 60/61 | €434,857 | €487,185 | +€52,328 | +12.0% |
| Remuneration, social security and pensions | 62 | - | €398 | +€398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221 | €7,023 | +€6,802 | +3,078% |
| Other operating charges | 640/8 | €1,074 | €8,494 | +€7,420 | +691% |
| Gross operating margin | 9900 | €19,114 | €34,105 | +€14,991 | +78.4% |
| Operating profit (loss) | 9901 | €17,820 | €18,191 | +€371 | +2.1% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €1,197 | €2,885 | +€1,688 | +141% |
| Recurring financial charges | 65 | €1,197 | €2,885 | +€1,688 | +141% |
| Profit (loss) for the period before taxes | 9903 | €16,623 | €15,336 | -€1,287 | -7.7% |
| Income taxes | 67/77 | €3,526 | €3,114 | -€412 | -11.7% |
| Profit (loss) for the period | 9904 | €13,097 | €12,222 | -€875 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,097 | €12,222 | -€875 | -6.7% |
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 15 October 2026 via checked.be.