MG PADEL: 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 PADEL
Largest movements
- Cash +€65,681
up €65,681 (+124.0%), from €52,969 to €118,651
mainly Debts after one year (+€85,663) and Depreciation (+€49,323)
- Tangible fixed assets +€60,778
up €60,778 (+11.1%), from €547,651 to €608,430
of which Land and buildings: +€55,829
- Debts after one year +€85,663
up €85,663 (+20.2%), from €424,912 to €510,575
- Reserves +€21,192
up €21,192 (+88.6%), from €23,930 to €45,122
- Tax, wage and social debts +€15,676
up €15,676 (+195.7%), from €8,012 to €23,688
of which Remuneration and social security: +€12,840
- Trade debts -€12,184
down €12,184 (-57.3%), from €21,280 to €9,096
- Current portion of long-term debt +€10,782
up €10,782 (+23.1%), from €46,715 to €57,497
- Staff costs +€124,198
up €124,198 (+476.9%), from €26,044 to €150,242
- Gross operating margin +€92,308
up €92,308 (+57.1%), from €161,769 to €254,077
- Financial charges +€13,784
up €13,784 (+110.1%), from €12,520 to €26,304
- Depreciation +€10,979
up €10,979 (+28.6%), from €38,344 to €49,323
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €655,696 | €771,644 | +€115,948 | +17.7% |
| Fixed assets | 21/28 | €547,651 | €608,430 | +€60,778 | +11.1% |
| Tangible fixed assets | 22/27 | €547,651 | €608,430 | +€60,778 | +11.1% |
| Land and buildings | 22 | €528,556 | €584,385 | +€55,829 | +10.6% |
| Plant, machinery and equipment | 23 | €845 | €1,397 | +€552 | +65.3% |
| Furniture and vehicles | 24 | €18,251 | €22,648 | +€4,398 | +24.1% |
| Current assets | 29/58 | €108,045 | €163,214 | +€55,170 | +51.1% |
| Stocks and contracts in progress | 3 | €22,767 | €19,521 | -€3,246 | -14.3% |
| Stocks | 30/36 | €22,767 | €19,521 | -€3,246 | -14.3% |
| Amounts receivable within one year | 40/41 | €29,309 | €22,022 | -€7,287 | -24.9% |
| Trade receivables | 40 | €6,882 | €2,240 | -€4,642 | -67.5% |
| Other amounts receivable | 41 | €22,427 | €19,783 | -€2,645 | -11.8% |
| Cash at bank and in hand | 54/58 | €52,969 | €118,651 | +€65,681 | +124.0% |
| Deferred charges and accrued income | 490/1 | €3,000 | €3,021 | +€21 | +0.7% |
| Total equity and liabilities | 10/49 | €655,696 | €771,644 | +€115,948 | +17.7% |
| Equity | 10/15 | €29,930 | €51,122 | +€21,192 | +70.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €23,930 | €45,122 | +€21,192 | +88.6% |
| Distributable reserves | 133 | €23,930 | €45,122 | +€21,192 | +88.6% |
| Amounts payable | 17/49 | €625,766 | €720,523 | +€94,756 | +15.1% |
| Amounts payable after more than one year | 17 | €424,912 | €510,575 | +€85,663 | +20.2% |
| Financial debts | 170/4 | €424,912 | €510,575 | +€85,663 | +20.2% |
| Amounts payable within one year | 42/48 | €200,854 | €209,948 | +€9,093 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €46,715 | €57,497 | +€10,782 | +23.1% |
| Trade debts | 44 | €21,280 | €9,096 | -€12,184 | -57.3% |
| Suppliers | 440/4 | €21,280 | €9,096 | -€12,184 | -57.3% |
| Taxes, remuneration and social security | 45 | €8,012 | €23,688 | +€15,676 | +195.7% |
| Taxes | 450/3 | €8,012 | €10,848 | +€2,836 | +35.4% |
| Remuneration and social security | 454/9 | - | €12,840 | +€12,840 | |
| Other amounts payable | 47/48 | €124,848 | €119,666 | -€5,181 | -4.2% |
| Non-recurring operating income | 76A | €167 | €1,900 | +€1,733 | +1036.9% |
| Remuneration, social security and pensions | 62 | €26,044 | €150,242 | +€124,198 | +476.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,344 | €49,323 | +€10,979 | +28.6% |
| Other operating charges | 640/8 | €1,522 | €1,149 | -€373 | -24.5% |
| Gross operating margin | 9900 | €161,769 | €254,077 | +€92,308 | +57.1% |
| Operating profit (loss) | 9901 | €95,859 | €53,363 | -€42,496 | -44.3% |
| Financial income | 75/76B | €0 | €9 | +€8 | +2176.3% |
| Recurring financial income | 75 | €0 | €9 | +€8 | +2176.3% |
| Financial charges | 65/66B | €12,520 | €26,304 | +€13,784 | +110.1% |
| Recurring financial charges | 65 | €12,520 | €26,304 | +€13,784 | +110.1% |
| Profit (loss) for the period before taxes | 9903 | €83,339 | €27,067 | -€56,271 | -67.5% |
| Income taxes | 67/77 | €5,218 | €5,876 | +€658 | +12.6% |
| Profit (loss) for the period | 9904 | €78,121 | €21,192 | -€56,929 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,121 | €21,192 | -€56,929 | -72.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.