MG CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash +€12,438
up €12,438 (+218.9%), from €5,683 to €18,120
mainly Current portion of long-term debt (+€65,340) and Receivables within one year (+€12,112)
- Receivables within one year -€12,112
down €12,112 (-4.4%), from €275,115 to €263,003
of which Trade receivables: -€11,786
- Tangible fixed assets -€3,851
no longer reported in 2025 (was €3,851)
- Current portion of long-term debt +€65,340
new in 2025: €65,340
- Other debts -€36,953
down €36,953 (-52.0%), from €71,110 to €34,157
- Trade debts -€34,940
down €34,940 (-66.9%), from €52,198 to €17,258
- Tax, wage and social debts +€4,683
up €4,683 (+156.3%), from €2,996 to €7,679
of which Taxes: +€2,804
- Staff costs -€14,781
down €14,781 (-33.3%), from €44,449 to €29,668
- Gross operating margin -€12,649
down €12,649 (-28.1%), from €45,015 to €32,366
- Depreciation -€1,119
down €1,119 (-22.5%), from €4,970 to €3,851
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 | €291,549 | €287,534 | -€4,015 | -1.4% |
| Fixed assets | 21/28 | €3,851 | - | -€3,851 | |
| Tangible fixed assets | 22/27 | €3,851 | - | -€3,851 | |
| Furniture and vehicles | 24 | €3,851 | - | -€3,851 | |
| Current assets | 29/58 | €287,698 | €287,534 | -€164 | -0.1% |
| Stocks and contracts in progress | 3 | €6,900 | €6,410 | -€490 | -7.1% |
| Stocks | 30/36 | €6,900 | €6,410 | -€490 | -7.1% |
| Amounts receivable within one year | 40/41 | €275,115 | €263,003 | -€12,112 | -4.4% |
| Trade receivables | 40 | €266,698 | €254,911 | -€11,786 | -4.4% |
| Other amounts receivable | 41 | €8,418 | €8,092 | -€326 | -3.9% |
| Cash at bank and in hand | 54/58 | €5,683 | €18,120 | +€12,438 | +218.9% |
| Total equity and liabilities | 10/49 | €291,549 | €287,534 | -€4,015 | -1.4% |
| Equity | 10/15 | €26,545 | €24,400 | -€2,145 | -8.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,997 | €25,997 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,137 | €24,137 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,652 | -€7,797 | -€2,145 | -37.9% |
| Amounts payable | 17/49 | €265,004 | €263,134 | -€1,871 | -0.7% |
| Amounts payable after more than one year | 17 | €18,000 | €18,000 | = | 0.0% |
| Other amounts payable | 178/9 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €126,304 | €124,434 | -€1,871 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €65,340 | +€65,340 | |
| Trade debts | 44 | €52,198 | €17,258 | -€34,940 | -66.9% |
| Suppliers | 440/4 | €52,198 | €17,258 | -€34,940 | -66.9% |
| Taxes, remuneration and social security | 45 | €2,996 | €7,679 | +€4,683 | +156.3% |
| Taxes | 450/3 | €2,996 | €5,800 | +€2,804 | +93.6% |
| Remuneration and social security | 454/9 | - | €1,879 | +€1,879 | |
| Other amounts payable | 47/48 | €71,110 | €34,157 | -€36,953 | -52.0% |
| Accrued charges and deferred income | 492/3 | €120,700 | €120,700 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €44,449 | €29,668 | -€14,781 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,970 | €3,851 | -€1,119 | -22.5% |
| Other operating charges | 640/8 | €1,181 | €926 | -€255 | -21.6% |
| Gross operating margin | 9900 | €45,015 | €32,366 | -€12,649 | -28.1% |
| Operating profit (loss) | 9901 | -€5,585 | -€2,079 | +€3,506 | +62.8% |
| Financial charges | 65/66B | €67 | €66 | -€1 | -1.8% |
| Recurring financial charges | 65 | €67 | €66 | -€1 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,652 | -€2,145 | +€3,507 | +62.1% |
| Profit (loss) for the period | 9904 | -€5,652 | -€2,145 | +€3,507 | +62.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,652 | -€2,145 | +€3,507 | +62.1% |
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 8 October 2026 via checked.be.