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
- Receivables within one year +€13,557
up €13,557 (+12.2%), from €111,115 to €124,672
of which Other amounts receivable: +€22,486
- Cash -€2,706
down €2,706 (-53.1%), from €5,096 to €2,390
mainly Receivables within one year (-€13,557) and Tax, wage and social debts (-€13,263)
- Deferred charges and accrued income +€2,370
up €2,370 (+81.1%), from €2,923 to €5,292
- Reserves +€27,707
up €27,707 (+35.6%), from €77,727 to €105,435
- Tax, wage and social debts -€13,263
down €13,263 (-37.6%), from €35,286 to €22,024
- Gross operating margin -€5,768
down €5,768 (-14.7%), from €39,301 to €33,533
- Financial income +€2,370
up €2,370 (+81.1%), from €2,923 to €5,292
- Taxes +€1,004
up €1,004 (+11.1%), from €9,082 to €10,086
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 | €119,372 | €132,757 | +€13,386 | +11.2% |
| Fixed assets | 21/28 | €237 | €403 | +€165 | +69.6% |
| Tangible fixed assets | 22/27 | €237 | €403 | +€165 | +69.6% |
| Plant, machinery and equipment | 23 | €237 | €403 | +€165 | +69.6% |
| Current assets | 29/58 | €119,134 | €132,355 | +€13,220 | +11.1% |
| Amounts receivable within one year | 40/41 | €111,115 | €124,672 | +€13,557 | +12.2% |
| Trade receivables | 40 | €31,432 | €22,503 | -€8,929 | -28.4% |
| Other amounts receivable | 41 | €79,683 | €102,169 | +€22,486 | +28.2% |
| Cash at bank and in hand | 54/58 | €5,096 | €2,390 | -€2,706 | -53.1% |
| Deferred charges and accrued income | 490/1 | €2,923 | €5,292 | +€2,370 | +81.1% |
| Total equity and liabilities | 10/49 | €119,372 | €132,757 | +€13,386 | +11.2% |
| Equity | 10/15 | €82,727 | €110,435 | +€27,707 | +33.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €77,727 | €105,435 | +€27,707 | +35.6% |
| Distributable reserves | 133 | €77,727 | €105,435 | +€27,707 | +35.6% |
| Amounts payable | 17/49 | €36,644 | €22,323 | -€14,322 | -39.1% |
| Amounts payable within one year | 42/48 | €36,644 | €22,323 | -€14,322 | -39.1% |
| Trade debts | 44 | €1,358 | €299 | -€1,059 | -78.0% |
| Suppliers | 440/4 | €1,358 | €299 | -€1,059 | -78.0% |
| Taxes, remuneration and social security | 45 | €35,286 | €22,024 | -€13,263 | -37.6% |
| Taxes | 450/3 | €35,286 | €22,024 | -€13,263 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26 | €194 | +€168 | +642% |
| Other operating charges | 640/8 | €179 | €332 | +€153 | +85.7% |
| Non-recurring operating charges | 66A | €200 | €246 | +€46 | +23.1% |
| Gross operating margin | 9900 | €39,301 | €33,533 | -€5,768 | -14.7% |
| Operating profit (loss) | 9901 | €38,896 | €32,761 | -€6,135 | -15.8% |
| Financial income | 75/76B | €2,923 | €5,292 | +€2,370 | +81.1% |
| Recurring financial income | 75 | €2,923 | €5,292 | +€2,370 | +81.1% |
| Financial charges | 65/66B | €193 | €260 | +€67 | +34.8% |
| Recurring financial charges | 65 | €193 | €260 | +€67 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €41,626 | €37,793 | -€3,833 | -9.2% |
| Income taxes | 67/77 | €9,082 | €10,086 | +€1,004 | +11.1% |
| Profit (loss) for the period | 9904 | €32,544 | €27,707 | -€4,837 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,544 | €27,707 | -€4,837 | -14.9% |
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 17 October 2026 via checked.be.