MG BOUW: 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 BOUW
Largest movements
- Tangible fixed assets -€107,446
down €107,446 (-23.9%), from €449,833 to €342,388
of which Land and buildings: -€103,403
- Intangible fixed assets -€19,870
down €19,870 (-5.3%), from €377,481 to €357,611
- Debts after one year -€114,872
down €114,872 (-25.3%), from €453,829 to €338,957
- Profit (loss) carried forward +€107,365
up €107,365 (+60.7%), from €176,801 to €284,167
- Current portion of long-term debt -€59,507
down €59,507 (-70.1%), from €84,865 to €25,358
- Tax, wage and social debts -€34,424
down €34,424 (-71.1%), from €48,388 to €13,963
- Reserves -€12,979
down €12,979 (-11.3%), from €115,269 to €102,290
- Gross operating margin +€43,671
up €43,671 (+25.1%), from €173,963 to €217,633
- Other operating charges -€14,078
down €14,078 (-71.7%), from €19,630 to €5,552
- Taxes +€9,913
up €9,913 (+29.0%), from €34,154 to €44,067
- Financial charges -€5,615
down €5,615 (-17.4%), from €32,349 to €26,735
- Depreciation +€3,048
up €3,048 (+6.8%), from €44,750 to €47,798
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 | €928,603 | €807,492 | -€121,112 | -13.0% |
| Fixed assets | 21/28 | €827,315 | €700,249 | -€127,066 | -15.4% |
| Intangible fixed assets | 21 | €377,481 | €357,611 | -€19,870 | -5.3% |
| Tangible fixed assets | 22/27 | €449,833 | €342,388 | -€107,446 | -23.9% |
| Land and buildings | 22 | €434,931 | €331,529 | -€103,403 | -23.8% |
| Plant, machinery and equipment | 23 | €13,860 | €10,573 | -€3,287 | -23.7% |
| Furniture and vehicles | 24 | €1,041 | €286 | -€756 | -72.6% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €101,289 | €107,243 | +€5,954 | +5.9% |
| Amounts receivable within one year | 40/41 | €13,287 | €16,904 | +€3,617 | +27.2% |
| Trade receivables | 40 | €400 | €4,800 | +€4,400 | +1,100% |
| Other amounts receivable | 41 | €12,887 | €12,104 | -€783 | -6.1% |
| Cash at bank and in hand | 54/58 | €85,222 | €83,697 | -€1,524 | -1.8% |
| Deferred charges and accrued income | 490/1 | €2,780 | €6,642 | +€3,862 | +139% |
| Total equity and liabilities | 10/49 | €928,603 | €807,492 | -€121,112 | -13.0% |
| Equity | 10/15 | €295,071 | €389,457 | +€94,386 | +32.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €115,269 | €102,290 | -€12,979 | -11.3% |
| Tax-exempt reserves | 132 | €115,269 | €102,290 | -€12,979 | -11.3% |
| Profit (loss) carried forward | 14 | €176,801 | €284,167 | +€107,365 | +60.7% |
| Provisions and deferred taxes | 16 | €38,423 | €34,097 | -€4,326 | -11.3% |
| Deferred taxes | 168 | €38,423 | €34,097 | -€4,326 | -11.3% |
| Amounts payable | 17/49 | €595,109 | €383,938 | -€211,171 | -35.5% |
| Amounts payable after more than one year | 17 | €453,829 | €338,957 | -€114,872 | -25.3% |
| Financial debts | 170/4 | €453,829 | €338,957 | -€114,872 | -25.3% |
| Amounts payable within one year | 42/48 | €141,280 | €44,981 | -€96,299 | -68.2% |
| Current portion of amounts payable after more than one year | 42 | €84,865 | €25,358 | -€59,507 | -70.1% |
| Trade debts | 44 | €8,028 | €5,659 | -€2,369 | -29.5% |
| Suppliers | 440/4 | €8,028 | €5,659 | -€2,369 | -29.5% |
| Taxes, remuneration and social security | 45 | €48,388 | €13,963 | -€34,424 | -71.1% |
| Taxes | 450/3 | €48,388 | €13,963 | -€34,424 | -71.1% |
| Non-recurring operating income | 76A | - | €35,293 | +€35,293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,750 | €47,798 | +€3,048 | +6.8% |
| Other operating charges | 640/8 | €19,630 | €5,552 | -€14,078 | -71.7% |
| Gross operating margin | 9900 | €173,963 | €217,633 | +€43,671 | +25.1% |
| Operating profit (loss) | 9901 | €109,584 | €164,284 | +€54,701 | +49.9% |
| Financial income | 75/76B | €5 | €3 | -€1 | -28.8% |
| Recurring financial income | 75 | €5 | €3 | -€1 | -28.8% |
| Financial charges | 65/66B | €32,349 | €26,735 | -€5,615 | -17.4% |
| Recurring financial charges | 65 | €32,349 | €26,735 | -€5,615 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €77,239 | €137,553 | +€60,314 | +78.1% |
| Transfer from deferred taxes | 780 | €4,599 | €4,326 | -€272 | -5.9% |
| Income taxes | 67/77 | €34,154 | €44,067 | +€9,913 | +29.0% |
| Profit (loss) for the period | 9904 | €47,684 | €97,813 | +€50,129 | +105% |
| Transfer from tax-exempt reserves | 789 | €13,796 | €12,979 | -€816 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,479 | €110,792 | +€49,313 | +80.2% |
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 24 October 2026 via checked.be.