MG BUSNESS: 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 BUSNESS
Largest movements
- Tangible fixed assets -€400,004
down €400,004 (-44.5%), from €898,412 to €498,408
of which Land and buildings: -€355,126
- Cash +€25,774
up €25,774 (+86.6%), from €29,750 to €55,524
mainly Investment in fixed assets (net) (+€350,366) and Net result for the year (+€66,931)
- Receivables within one year +€16,885
up €16,885 (+198.8%), from €8,491 to €25,376
of which Trade receivables: +€17,617
- Debts after one year -€306,935
down €306,935 (-45.9%), from €669,260 to €362,325
- Other debts -€143,611
down €143,611 (-96.7%), from €148,573 to €4,962
- Reserves +€108,863
up €108,863 (+524.6%), from €20,750 to €129,613
- Profit (loss) carried forward -€20,159
down €20,159 (-112.2%), from -€17,968 to -€38,127
- Current portion of long-term debt -€19,842
down €19,842 (-24.7%), from €80,359 to €60,517
- Gross operating margin -€25,321
down €25,321 (-9.3%), from €271,117 to €245,795
- Taxes -€21,648
down €21,648 (-99.3%), from €21,796 to €148
- Staff costs -€21,521
down €21,521 (-23.2%), from €92,902 to €71,382
- Depreciation -€15,953
down €15,953 (-24.3%), from €65,591 to €49,639
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 | €986,741 | €629,431 | -€357,310 | -36.2% |
| Fixed assets | 21/28 | €898,412 | €498,408 | -€400,004 | -44.5% |
| Tangible fixed assets | 22/27 | €898,412 | €498,408 | -€400,004 | -44.5% |
| Land and buildings | 22 | €769,392 | €414,266 | -€355,126 | -46.2% |
| Plant, machinery and equipment | 23 | €124,566 | €73,232 | -€51,334 | -41.2% |
| Furniture and vehicles | 24 | €4,454 | €10,910 | +€6,456 | +145.0% |
| Current assets | 29/58 | €88,329 | €131,023 | +€42,694 | +48.3% |
| Stocks and contracts in progress | 3 | €47,200 | €39,698 | -€7,502 | -15.9% |
| Stocks | 30/36 | €47,200 | €39,698 | -€7,502 | -15.9% |
| Amounts receivable within one year | 40/41 | €8,491 | €25,376 | +€16,885 | +198.8% |
| Trade receivables | 40 | €7,267 | €24,884 | +€17,617 | +242.4% |
| Other amounts receivable | 41 | €1,225 | €492 | -€732 | -59.8% |
| Cash at bank and in hand | 54/58 | €29,750 | €55,524 | +€25,774 | +86.6% |
| Deferred charges and accrued income | 490/1 | €2,888 | €10,425 | +€7,538 | +261.0% |
| Total equity and liabilities | 10/49 | €986,741 | €629,431 | -€357,310 | -36.2% |
| Equity | 10/15 | €21,374 | €110,077 | +€88,704 | +415.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €20,750 | €129,613 | +€108,863 | +524.6% |
| Tax-exempt reserves | 132 | €20,750 | €129,613 | +€108,863 | +524.6% |
| Profit (loss) carried forward | 14 | -€17,968 | -€38,127 | -€20,159 | -112.2% |
| Amounts payable | 17/49 | €965,368 | €519,353 | -€446,014 | -46.2% |
| Amounts payable after more than one year | 17 | €669,260 | €362,325 | -€306,935 | -45.9% |
| Financial debts | 170/4 | €669,260 | €362,325 | -€306,935 | -45.9% |
| Amounts payable within one year | 42/48 | €296,107 | €157,029 | -€139,079 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €80,359 | €60,517 | -€19,842 | -24.7% |
| Trade debts | 44 | €22,931 | €39,435 | +€16,504 | +72.0% |
| Suppliers | 440/4 | €22,931 | €39,435 | +€16,504 | +72.0% |
| Taxes, remuneration and social security | 45 | €44,245 | €52,115 | +€7,869 | +17.8% |
| Taxes | 450/3 | €32,031 | €33,251 | +€1,220 | +3.8% |
| Remuneration and social security | 454/9 | €12,215 | €18,864 | +€6,649 | +54.4% |
| Other amounts payable | 47/48 | €148,573 | €4,962 | -€143,611 | -96.7% |
| Remuneration, social security and pensions | 62 | €92,902 | €71,382 | -€21,521 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,591 | €49,639 | -€15,953 | -24.3% |
| Other operating charges | 640/8 | €5,000 | €3,637 | -€1,362 | -27.3% |
| Non-recurring operating charges | 66A | -€1,332 | - | +€1,332 | |
| Gross operating margin | 9900 | €271,117 | €245,795 | -€25,321 | -9.3% |
| Operating profit (loss) | 9901 | €108,956 | €121,138 | +€12,183 | +11.2% |
| Financial income | 75/76B | €635 | €643 | +€8 | +1.3% |
| Recurring financial income | 75 | €635 | €643 | +€8 | +1.3% |
| Financial charges | 65/66B | €32,210 | €32,929 | +€719 | +2.2% |
| Recurring financial charges | 65 | €31,970 | €32,877 | +€908 | +2.8% |
| Non-recurring financial charges | 66B | €240 | €52 | -€188 | -78.4% |
| Profit (loss) for the period before taxes | 9903 | €77,381 | €88,852 | +€11,472 | +14.8% |
| Transfer to deferred taxes | 680 | - | €21,773 | +€21,773 | |
| Income taxes | 67/77 | €21,796 | €148 | -€21,648 | -99.3% |
| Profit (loss) for the period | 9904 | €55,584 | €66,931 | +€11,347 | +20.4% |
| Transfer to tax-exempt reserves | 689 | - | €87,090 | +€87,090 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,584 | -€20,159 | -€75,743 |
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 7 October 2026 via checked.be.