MG Management: 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 Management
Largest movements
- Receivables within one year +€49,711
up €49,711 (+157%), from €31,702 to €81,412
of which Trade receivables: +€47,218
- Tangible fixed assets -€16,242
down €16,242 (-65.8%), from €24,673 to €8,431
of which Furniture and vehicles: -€9,595
- Other debts +€56,857
up €56,857 (+63.5%), from €89,542 to €146,399
- Debts after one year -€17,998
down €17,998 (-80.3%), from €22,403 to €4,405
- Current portion of long-term debt -€7,776
down €7,776 (-30.2%), from €25,774 to €17,998
- Trade debts +€3,609
up €3,609 (+33.2%), from €10,869 to €14,477
- Contributions -€3,000
down €3,000 (-85.7%), from €3,500 to €500
- Gross operating margin -€8,443
down €8,443 (-33.8%), from €24,971 to €16,528
- Depreciation -€6,855
down €6,855 (-34.3%), from €19,979 to €13,124
- Financial charges -€733
down €733 (-33.9%), from €2,164 to €1,431
- Other operating charges -€547
down €547 (-33.0%), from €1,655 to €1,108
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 | €179,951 | €214,508 | +€34,557 | +19.2% |
| Fixed assets | 21/28 | €146,473 | €130,231 | -€16,242 | -11.1% |
| Tangible fixed assets | 22/27 | €24,673 | €8,431 | -€16,242 | -65.8% |
| Furniture and vehicles | 24 | €13,714 | €4,119 | -€9,595 | -70.0% |
| Leasing and similar rights | 25 | €10,959 | €4,312 | -€6,647 | -60.7% |
| Financial fixed assets | 28 | €121,800 | €121,800 | = | 0.0% |
| Current assets | 29/58 | €33,478 | €84,277 | +€50,799 | +152% |
| Amounts receivable within one year | 40/41 | €31,702 | €81,412 | +€49,711 | +157% |
| Trade receivables | 40 | €31,500 | €78,718 | +€47,218 | +150% |
| Other amounts receivable | 41 | €202 | €2,694 | +€2,493 | +1,235% |
| Cash at bank and in hand | 54/58 | €793 | €2,081 | +€1,288 | +162% |
| Deferred charges and accrued income | 490/1 | €983 | €783 | -€200 | -20.3% |
| Total equity and liabilities | 10/49 | €179,951 | €214,508 | +€34,557 | +19.2% |
| Equity | 10/15 | €26,014 | €23,199 | -€2,815 | -10.8% |
| Contributions | 10/11 | €3,500 | €500 | -€3,000 | -85.7% |
| Reserves | 13 | €22,514 | €22,699 | +€185 | +0.8% |
| Distributable reserves | 133 | €22,514 | €22,699 | +€185 | +0.8% |
| Amounts payable | 17/49 | €153,937 | €191,309 | +€37,372 | +24.3% |
| Amounts payable after more than one year | 17 | €22,403 | €4,405 | -€17,998 | -80.3% |
| Financial debts | 170/4 | €22,403 | €4,405 | -€17,998 | -80.3% |
| Amounts payable within one year | 42/48 | €131,534 | €186,904 | +€55,370 | +42.1% |
| Current portion of amounts payable after more than one year | 42 | €25,774 | €17,998 | -€7,776 | -30.2% |
| Financial debts | 43 | €0 | €1,498 | +€1,498 | |
| Credit institutions | 430/8 | - | €244 | +€244 | |
| Other loans | 439 | €0 | €1,254 | +€1,254 | |
| Trade debts | 44 | €10,869 | €14,477 | +€3,609 | +33.2% |
| Suppliers | 440/4 | €10,869 | €14,477 | +€3,609 | +33.2% |
| Taxes, remuneration and social security | 45 | €5,350 | €6,532 | +€1,182 | +22.1% |
| Taxes | 450/3 | €5,350 | €6,532 | +€1,182 | +22.1% |
| Other amounts payable | 47/48 | €89,542 | €146,399 | +€56,857 | +63.5% |
| Non-recurring operating income | 76A | - | €12,795 | +€12,795 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,979 | €13,124 | -€6,855 | -34.3% |
| Other operating charges | 640/8 | €1,655 | €1,108 | -€547 | -33.0% |
| Gross operating margin | 9900 | €24,971 | €16,528 | -€8,443 | -33.8% |
| Operating profit (loss) | 9901 | €3,337 | €2,296 | -€1,041 | -31.2% |
| Financial charges | 65/66B | €2,164 | €1,431 | -€733 | -33.9% |
| Recurring financial charges | 65 | €2,164 | €1,431 | -€733 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €1,173 | €864 | -€308 | -26.3% |
| Income taxes | 67/77 | €827 | €680 | -€147 | -17.8% |
| Profit (loss) for the period | 9904 | €346 | €185 | -€162 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €346 | €185 | -€162 | -46.7% |
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 26 October 2026 via checked.be.