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
- Receivables within one year +€43,513
up €43,513 (+25.5%), from €170,475 to €213,988
of which Other amounts receivable: +€61,111
- Tangible fixed assets -€42,335
down €42,335 (-6.1%), from €692,270 to €649,935
of which Land and buildings: -€31,886
- Intangible fixed assets -€35,000
down €35,000 (-14.3%), from €245,000 to €210,000
- Profit (loss) carried forward +€42,579
up €42,579 (+19.8%), from €214,842 to €257,421
- Other debts -€39,058
down €39,058 (-5.3%), from €734,374 to €695,316
- Tax, wage and social debts -€22,777
down €22,777 (-12.8%), from €177,971 to €155,194
of which Taxes: -€27,015
- Staff costs +€31,265
up €31,265 (+3.2%), from €977,869 to €1.0m
- Taxes -€12,676
down €12,676 (-48.8%), from €25,980 to €13,304
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 | €1,638,872 | €1,605,157 | -€33,715 | -2.1% |
| Fixed assets | 21/28 | €937,270 | €859,935 | -€77,335 | -8.3% |
| Intangible fixed assets | 21 | €245,000 | €210,000 | -€35,000 | -14.3% |
| Tangible fixed assets | 22/27 | €692,270 | €649,935 | -€42,335 | -6.1% |
| Land and buildings | 22 | €671,226 | €639,340 | -€31,886 | -4.8% |
| Furniture and vehicles | 24 | €21,044 | €10,595 | -€10,449 | -49.7% |
| Current assets | 29/58 | €701,602 | €745,222 | +€43,620 | +6.2% |
| Amounts receivable within one year | 40/41 | €170,475 | €213,988 | +€43,513 | +25.5% |
| Trade receivables | 40 | €144,925 | €127,327 | -€17,598 | -12.1% |
| Other amounts receivable | 41 | €25,550 | €86,661 | +€61,111 | +239.2% |
| Cash at bank and in hand | 54/58 | €525,479 | €525,631 | +€152 | 0.0% |
| Deferred charges and accrued income | 490/1 | €5,648 | €5,603 | -€45 | -0.8% |
| Total equity and liabilities | 10/49 | €1,638,872 | €1,605,157 | -€33,715 | -2.1% |
| Equity | 10/15 | €224,742 | €267,321 | +€42,579 | +18.9% |
| Contributions | 10/11 | €9,900 | €9,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €214,842 | €257,421 | +€42,579 | +19.8% |
| Amounts payable | 17/49 | €1,414,130 | €1,337,836 | -€76,294 | -5.4% |
| Amounts payable after more than one year | 17 | €247,175 | €231,669 | -€15,506 | -6.3% |
| Financial debts | 170/4 | €247,175 | €231,669 | -€15,506 | -6.3% |
| Amounts payable within one year | 42/48 | €1,101,436 | €1,044,048 | -€57,388 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €86,792 | €87,223 | +€431 | +0.5% |
| Trade debts | 44 | €102,299 | €106,315 | +€4,016 | +3.9% |
| Suppliers | 440/4 | €102,299 | €106,315 | +€4,016 | +3.9% |
| Taxes, remuneration and social security | 45 | €177,971 | €155,194 | -€22,777 | -12.8% |
| Taxes | 450/3 | €42,147 | €15,132 | -€27,015 | -64.1% |
| Remuneration and social security | 454/9 | €135,824 | €140,062 | +€4,238 | +3.1% |
| Other amounts payable | 47/48 | €734,374 | €695,316 | -€39,058 | -5.3% |
| Accrued charges and deferred income | 492/3 | €65,519 | €62,119 | -€3,400 | -5.2% |
| Remuneration, social security and pensions | 62 | €977,869 | €1,009,134 | +€31,265 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,166 | €77,335 | +€169 | +0.2% |
| Other operating charges | 640/8 | €513 | €675 | +€162 | +31.6% |
| Gross operating margin | 9900 | €1,160,118 | €1,150,800 | -€9,318 | -0.8% |
| Operating profit (loss) | 9901 | €104,570 | €63,656 | -€40,914 | -39.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €6,799 | €7,774 | +€975 | +14.3% |
| Recurring financial charges | 65 | €6,799 | €7,774 | +€975 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €97,771 | €55,883 | -€41,888 | -42.8% |
| Income taxes | 67/77 | €25,980 | €13,304 | -€12,676 | -48.8% |
| Profit (loss) for the period | 9904 | €71,791 | €42,579 | -€29,212 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,791 | €42,579 | -€29,212 | -40.7% |
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 29 September 2026 via checked.be.