MG Express: 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 Express
Largest movements
- Receivables within one year +€21,858
up €21,858 (+29.7%), from €73,631 to €95,489
of which Trade receivables: +€35,008
- Current investments +€16,171
new in 2025: €16,171
- Tangible fixed assets -€5,782
down €5,782 (-67.4%), from €8,582 to €2,800
- Cash -€2,814
no longer reported in 2025 (was €2,814)
mainly Receivables within one year (-€21,858) and Trade debts (-€19,980)
- Deferred charges and accrued income +€2,115
up €2,115 (+58.3%), from €3,628 to €5,743
- Profit (loss) carried forward +€32,368
up €32,368 (+56.7%), from €57,132 to €89,500
- Trade debts -€19,980
down €19,980 (-44.3%), from €45,076 to €25,096
- Tax, wage and social debts +€12,550
up €12,550 (+28.4%), from €44,114 to €56,664
of which Taxes: +€10,095
- Other debts +€8,174
up €8,174 (+6591.9%), from €124 to €8,298
- Gross operating margin -€30,006
down €30,006 (-20.9%), from €143,638 to €113,632
- Staff costs -€5,461
down €5,461 (-8.7%), from €62,533 to €57,072
- Financial charges -€4,779
down €4,779 (-66.0%), from €7,237 to €2,458
- Taxes -€3,427
down €3,427 (-19.0%), from €18,033 to €14,606
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 | €151,946 | €185,058 | +€33,112 | +21.8% |
| Fixed assets | 21/28 | €8,928 | €2,926 | -€6,002 | -67.2% |
| Intangible fixed assets | 21 | €346 | €126 | -€220 | -63.6% |
| Tangible fixed assets | 22/27 | €8,582 | €2,800 | -€5,782 | -67.4% |
| Furniture and vehicles | 24 | €8,582 | €2,800 | -€5,782 | -67.4% |
| Current assets | 29/58 | €143,018 | €182,132 | +€39,114 | +27.3% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Trade receivables | 290 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | €45,000 | - | -€45,000 | |
| Stocks and contracts in progress | 3 | €17,945 | €19,729 | +€1,784 | +9.9% |
| Stocks | 30/36 | €17,945 | €19,729 | +€1,784 | +9.9% |
| Amounts receivable within one year | 40/41 | €73,631 | €95,489 | +€21,858 | +29.7% |
| Trade receivables | 40 | €28,158 | €63,166 | +€35,008 | +124.3% |
| Other amounts receivable | 41 | €45,473 | €32,323 | -€13,150 | -28.9% |
| Current investments | 50/53 | - | €16,171 | +€16,171 | |
| Cash at bank and in hand | 54/58 | €2,814 | - | -€2,814 | |
| Deferred charges and accrued income | 490/1 | €3,628 | €5,743 | +€2,115 | +58.3% |
| Total equity and liabilities | 10/49 | €151,946 | €185,058 | +€33,112 | +21.8% |
| Equity | 10/15 | €62,632 | €95,000 | +€32,368 | +51.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | - | €5,000 | +€5,000 | |
| Issued capital | 100 | - | €5,000 | +€5,000 | |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Legal reserve | 130 | - | €500 | +€500 | |
| Reserves not available under the articles | 1311 | €500 | - | -€500 | |
| Profit (loss) carried forward | 14 | €57,132 | €89,500 | +€32,368 | +56.7% |
| Amounts payable | 17/49 | €89,314 | €90,058 | +€744 | +0.8% |
| Amounts payable within one year | 42/48 | €89,314 | €90,058 | +€744 | +0.8% |
| Trade debts | 44 | €45,076 | €25,096 | -€19,980 | -44.3% |
| Suppliers | 440/4 | €45,076 | €25,096 | -€19,980 | -44.3% |
| Taxes, remuneration and social security | 45 | €44,114 | €56,664 | +€12,550 | +28.4% |
| Taxes | 450/3 | €32,473 | €42,568 | +€10,095 | +31.1% |
| Remuneration and social security | 454/9 | €11,641 | €14,096 | +€2,455 | +21.1% |
| Other amounts payable | 47/48 | €124 | €8,298 | +€8,174 | +6591.9% |
| Remuneration, social security and pensions | 62 | €62,533 | €57,072 | -€5,461 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,894 | €6,002 | -€892 | -12.9% |
| Other operating charges | 640/8 | €4,287 | €2,926 | -€1,361 | -31.7% |
| Gross operating margin | 9900 | €143,638 | €113,632 | -€30,006 | -20.9% |
| Operating profit (loss) | 9901 | €69,924 | €47,632 | -€22,292 | -31.9% |
| Financial income | 75/76B | €2,051 | €1,800 | -€251 | -12.2% |
| Recurring financial income | 75 | €2,051 | €1,800 | -€251 | -12.2% |
| Financial charges | 65/66B | €7,237 | €2,458 | -€4,779 | -66.0% |
| Recurring financial charges | 65 | €7,237 | €2,458 | -€4,779 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | €64,738 | €46,974 | -€17,764 | -27.4% |
| Income taxes | 67/77 | €18,033 | €14,606 | -€3,427 | -19.0% |
| Profit (loss) for the period | 9904 | €46,705 | €32,368 | -€14,337 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,705 | €32,368 | -€14,337 | -30.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.