MG LOGISTIQUE: 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 LOGISTIQUE
Largest movements
- Receivables within one year +€88,617
up €88,617 (+23.7%), from €373,912 to €462,529
of which Trade receivables: +€77,891
- Tangible fixed assets -€51,699
down €51,699 (-8.9%), from €581,850 to €530,151
of which Land and buildings: -€52,134
- Deferred charges and accrued income -€26,100
down €26,100 (-53.1%), from €49,150 to €23,050
- Cash +€11,307
up €11,307 (+17.1%), from €66,251 to €77,558
mainly Trade debts (+€147,171) and Depreciation (+€96,719)
- Trade debts +€147,171
up €147,171 (+111%), from €132,690 to €279,861
- Current portion of long-term debt -€68,595
down €68,595 (-58.7%), from €116,769 to €48,174
- Other debts -€50,000
down €50,000 (-31.3%), from €160,000 to €110,000
- Profit (loss) carried forward -€27,475
down €27,475 (-11.9%), from €231,154 to €203,679
- Short-term financial debts +€11,941
up €11,941 (+3.6%), from €335,571 to €347,511
- Staff costs +€325,870
up €325,870 (+78.9%), from €413,186 to €739,055
- Gross operating margin +€176,915
up €176,915 (+29.3%), from €603,947 to €780,862
- Depreciation -€69,587
down €69,587 (-41.8%), from €166,305 to €96,719
- Financial income -€24,642
down €24,642 (-30.5%), from €80,834 to €56,192
- Taxes -€9,128
no longer reported in 2025 (was €9,128)
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 | €1,071,213 | €1,093,339 | +€22,125 | +2.1% |
| Fixed assets | 21/28 | €581,900 | €530,201 | -€51,699 | -8.9% |
| Tangible fixed assets | 22/27 | €581,850 | €530,151 | -€51,699 | -8.9% |
| Land and buildings | 22 | €373,665 | €321,531 | -€52,134 | -14.0% |
| Plant, machinery and equipment | 23 | €139,714 | €138,345 | -€1,369 | -1.0% |
| Furniture and vehicles | 24 | €68,471 | €70,275 | +€1,804 | +2.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €489,314 | €563,138 | +€73,824 | +15.1% |
| Amounts receivable within one year | 40/41 | €373,912 | €462,529 | +€88,617 | +23.7% |
| Trade receivables | 40 | €329,730 | €407,621 | +€77,891 | +23.6% |
| Other amounts receivable | 41 | €44,183 | €54,908 | +€10,726 | +24.3% |
| Cash at bank and in hand | 54/58 | €66,251 | €77,558 | +€11,307 | +17.1% |
| Deferred charges and accrued income | 490/1 | €49,150 | €23,050 | -€26,100 | -53.1% |
| Total equity and liabilities | 10/49 | €1,071,213 | €1,093,339 | +€22,125 | +2.1% |
| Equity | 10/15 | €241,154 | €213,679 | -€27,475 | -11.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,154 | €203,679 | -€27,475 | -11.9% |
| Amounts payable | 17/49 | €830,060 | €879,660 | +€49,600 | +6.0% |
| Amounts payable within one year | 42/48 | €830,060 | €875,515 | +€45,455 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €116,769 | €48,174 | -€68,595 | -58.7% |
| Financial debts | 43 | €335,571 | €347,511 | +€11,941 | +3.6% |
| Credit institutions | 430/8 | €335,571 | €347,511 | +€11,941 | +3.6% |
| Trade debts | 44 | €132,690 | €279,861 | +€147,171 | +111% |
| Suppliers | 440/4 | €132,690 | €279,861 | +€147,171 | +111% |
| Taxes, remuneration and social security | 45 | €85,030 | €89,968 | +€4,938 | +5.8% |
| Taxes | 450/3 | €2,304 | - | -€2,304 | |
| Remuneration and social security | 454/9 | €82,726 | €89,968 | +€7,242 | +8.8% |
| Other amounts payable | 47/48 | €160,000 | €110,000 | -€50,000 | -31.3% |
| Accrued charges and deferred income | 492/3 | - | €4,145 | +€4,145 | |
| Non-recurring operating income | 76A | €2,375 | €12,222 | +€9,847 | +415% |
| Remuneration, social security and pensions | 62 | €413,186 | €739,055 | +€325,870 | +78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,305 | €96,719 | -€69,587 | -41.8% |
| Other operating charges | 640/8 | €3,643 | €9,785 | +€6,142 | +169% |
| Non-recurring operating charges | 66A | €9,705 | €5,660 | -€4,045 | -41.7% |
| Gross operating margin | 9900 | €603,947 | €780,862 | +€176,915 | +29.3% |
| Operating profit (loss) | 9901 | €11,108 | -€70,356 | -€81,464 | |
| Financial income | 75/76B | €80,834 | €56,192 | -€24,642 | -30.5% |
| Recurring financial income | 75 | €80,834 | €56,192 | -€24,642 | -30.5% |
| Financial charges | 65/66B | €18,307 | €13,310 | -€4,997 | -27.3% |
| Recurring financial charges | 65 | €18,307 | €13,310 | -€4,997 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €73,635 | -€27,475 | -€101,109 | |
| Income taxes | 67/77 | €9,128 | - | -€9,128 | |
| Profit (loss) for the period | 9904 | €64,507 | -€27,475 | -€91,982 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,507 | -€27,475 | -€91,982 |
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 18 October 2026 via checked.be.