MG PROJECTS: 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 PROJECTS
Largest movements
- Cash +€86,111
up €86,111 (+446.4%), from €19,290 to €105,401
mainly Net result for the year (+€91,670) and Deferred charges and accrued income (+€26,411)
- Deferred charges and accrued income -€26,411
down €26,411 (-80.2%), from €32,945 to €6,533
- Tangible fixed assets -€21,661
down €21,661 (-32.2%), from €67,302 to €45,641
of which Furniture and vehicles: -€21,100
- Receivables within one year +€19,641
up €19,641 (+31.7%), from €61,990 to €81,631
of which Other amounts receivable: +€33,043
- Reserves +€91,670
up €91,670 (+113.1%), from €81,050 to €172,720
- Other debts -€48,888
down €48,888 (-100.0%), from €48,888 to €0
- Tax, wage and social debts +€19,860
up €19,860 (+151.2%), from €13,136 to €32,996
of which Taxes: +€24,425
- Trade debts -€4,963
down €4,963 (-56.2%), from €8,827 to €3,865
- Gross operating margin +€113,941
up €113,941 (+244.7%), from €46,558 to €160,498
- Taxes +€36,411
up €36,411 (+420.1%), from €8,668 to €45,079
- Depreciation -€4,323
down €4,323 (-16.6%), from €25,984 to €21,661
- Financial charges -€4,119
down €4,119 (-78.5%), from €5,246 to €1,127
of which Financial charges: -€4,119
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 | €181,526 | €239,206 | +€57,680 | +31.8% |
| Fixed assets | 21/28 | €67,302 | €45,641 | -€21,661 | -32.2% |
| Tangible fixed assets | 22/27 | €67,302 | €45,641 | -€21,661 | -32.2% |
| Land and buildings | 22 | €8,353 | €7,993 | -€360 | -4.3% |
| Plant, machinery and equipment | 23 | €201 | €0 | -€201 | -100.0% |
| Furniture and vehicles | 24 | €58,748 | €37,649 | -€21,100 | -35.9% |
| Current assets | 29/58 | €114,224 | €193,565 | +€79,341 | +69.5% |
| Amounts receivable within one year | 40/41 | €61,990 | €81,631 | +€19,641 | +31.7% |
| Trade receivables | 40 | €61,990 | €48,588 | -€13,402 | -21.6% |
| Other amounts receivable | 41 | €0 | €33,043 | +€33,043 | |
| Cash at bank and in hand | 54/58 | €19,290 | €105,401 | +€86,111 | +446.4% |
| Deferred charges and accrued income | 490/1 | €32,945 | €6,533 | -€26,411 | -80.2% |
| Total equity and liabilities | 10/49 | €181,526 | €239,206 | +€57,680 | +31.8% |
| Equity | 10/15 | €106,693 | €198,363 | +€91,670 | +85.9% |
| Contributions | 10/11 | €25,643 | €25,643 | = | 0.0% |
| Reserves | 13 | €81,050 | €172,720 | +€91,670 | +113.1% |
| Distributable reserves | 133 | €81,050 | €172,720 | +€91,670 | +113.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €74,833 | €40,843 | -€33,990 | -45.4% |
| Amounts payable within one year | 42/48 | €70,851 | €36,861 | -€33,990 | -48.0% |
| Trade debts | 44 | €8,827 | €3,865 | -€4,963 | -56.2% |
| Suppliers | 440/4 | €8,827 | €3,865 | -€4,963 | -56.2% |
| Taxes, remuneration and social security | 45 | €13,136 | €32,996 | +€19,860 | +151.2% |
| Taxes | 450/3 | €8,571 | €32,996 | +€24,425 | +285.0% |
| Remuneration and social security | 454/9 | €4,565 | €0 | -€4,565 | -100.0% |
| Other amounts payable | 47/48 | €48,888 | €0 | -€48,888 | -100.0% |
| Accrued charges and deferred income | 492/3 | €3,983 | €3,983 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,984 | €21,661 | -€4,323 | -16.6% |
| Other operating charges | 640/8 | €1,109 | €961 | -€148 | -13.3% |
| Gross operating margin | 9900 | €46,558 | €160,498 | +€113,941 | +244.7% |
| Operating profit (loss) | 9901 | €19,464 | €137,876 | +€118,412 | +608.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,246 | €1,127 | -€4,119 | -78.5% |
| Recurring financial charges | 65 | €5,246 | €1,127 | -€4,119 | -78.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €14,218 | €136,749 | +€122,531 | +861.8% |
| Income taxes | 67/77 | €8,668 | €45,079 | +€36,411 | +420.1% |
| Profit (loss) for the period | 9904 | €5,550 | €91,670 | +€86,120 | +1551.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,550 | €91,670 | +€86,120 | +1551.6% |
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 29 September 2026 via checked.be.