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
- Financial fixed assets +€1.6m
new in 2025: €1.6m
- Cash +€113,808
up €113,808 (+368.8%), from €30,860 to €144,669
mainly Debts after one year (+€1.5m) and Net result for the year (+€196,341)
- Receivables within one year +€20,339
up €20,339 (+119.6%), from €17,008 to €37,347
of which Other amounts receivable: +€28,741
- Debts after one year +€1.5m
new in 2025: €1.5m
- Current portion of long-term debt +€143,138
new in 2025: €143,138
- Other debts +€63,000
up €63,000 (+190.9%), from €33,000 to €96,000
- Tax, wage and social debts +€29,998
up €29,998 (+2528.2%), from €1,187 to €31,185
- Gross operating margin +€224,421
up €224,421 (+431.3%), from €52,033 to €276,455
- Taxes +€54,163
up €54,163 (+446.4%), from €12,133 to €66,295
- Financial charges +€11,877
up €11,877 (+17687.2%), from €67 to €11,944
- Depreciation -€5,406
down €5,406 (-91.2%), from €5,927 to €521
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 | €53,403 | €1,788,904 | +€1.7m | +3249.8% |
| Fixed assets | 21/28 | €820 | €1,602,131 | +€1.6m | +195360.5% |
| Tangible fixed assets | 22/27 | €820 | €299 | -€521 | -63.6% |
| Furniture and vehicles | 24 | €820 | €299 | -€521 | -63.6% |
| Financial fixed assets | 28 | - | €1,601,832 | +€1.6m | |
| Current assets | 29/58 | €52,584 | €186,773 | +€134,189 | +255.2% |
| Amounts receivable after more than one year | 29 | €3,315 | €3,373 | +€58 | +1.8% |
| Other amounts receivable | 291 | €3,315 | €3,373 | +€58 | +1.8% |
| Amounts receivable within one year | 40/41 | €17,008 | €37,347 | +€20,339 | +119.6% |
| Trade receivables | 40 | €8,477 | €75 | -€8,402 | -99.1% |
| Other amounts receivable | 41 | €8,531 | €37,272 | +€28,741 | +336.9% |
| Cash at bank and in hand | 54/58 | €30,860 | €144,669 | +€113,808 | +368.8% |
| Deferred charges and accrued income | 490/1 | €1,400 | €1,384 | -€16 | -1.1% |
| Total equity and liabilities | 10/49 | €53,403 | €1,788,904 | +€1.7m | +3249.8% |
| Equity | 10/15 | €18,611 | €18,952 | +€341 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11 | €352 | +€341 | +3115.6% |
| Amounts payable | 17/49 | €34,792 | €1,769,952 | +€1.7m | +4987.2% |
| Amounts payable after more than one year | 17 | - | €1,498,484 | +€1.5m | |
| Financial debts | 170/4 | - | €1,498,484 | +€1.5m | |
| Amounts payable within one year | 42/48 | €34,666 | €271,342 | +€236,675 | +682.7% |
| Current portion of amounts payable after more than one year | 42 | - | €143,138 | +€143,138 | |
| Trade debts | 44 | €480 | €1,019 | +€539 | +112.4% |
| Suppliers | 440/4 | €480 | €1,019 | +€539 | +112.4% |
| Taxes, remuneration and social security | 45 | €1,187 | €31,185 | +€29,998 | +2528.2% |
| Taxes | 450/3 | €1,187 | €31,185 | +€29,998 | +2528.2% |
| Other amounts payable | 47/48 | €33,000 | €96,000 | +€63,000 | +190.9% |
| Accrued charges and deferred income | 492/3 | €126 | €126 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,927 | €521 | -€5,406 | -91.2% |
| Other operating charges | 640/8 | €1,106 | €1,411 | +€305 | +27.5% |
| Gross operating margin | 9900 | €52,033 | €276,455 | +€224,421 | +431.3% |
| Operating profit (loss) | 9901 | €45,000 | €274,523 | +€229,523 | +510.1% |
| Financial income | 75/76B | €59 | €58 | -€1 | -1.7% |
| Recurring financial income | 75 | €59 | €58 | -€1 | -1.7% |
| Financial charges | 65/66B | €67 | €11,944 | +€11,877 | +17687.2% |
| Recurring financial charges | 65 | €67 | €11,944 | +€11,877 | +17687.2% |
| Profit (loss) for the period before taxes | 9903 | €44,992 | €262,637 | +€217,645 | +483.7% |
| Income taxes | 67/77 | €12,133 | €66,295 | +€54,163 | +446.4% |
| Profit (loss) for the period | 9904 | €32,859 | €196,341 | +€163,482 | +497.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,859 | €196,341 | +€163,482 | +497.5% |
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 6 October 2026 via checked.be.