MG Works: 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 Works
Largest movements
- Receivables within one year +€23,587
up €23,587 (+113%), from €20,877 to €44,464
of which Trade receivables: +€26,950
- Cash +€4,654
up €4,654 (+19,719%), from €24 to €4,677
mainly Net result for the year (+€22,276) and Tax, wage and social debts (+€5,985)
- Deferred charges and accrued income -€826
no longer reported in 2024 (was €826)
- Reserves +€22,276
up €22,276 (+217%), from €10,259 to €32,535
- Tax, wage and social debts +€5,985
up €5,985 (+177%), from €3,389 to €9,374
of which Taxes: +€5,914
- Trade debts -€886
down €886 (-58.1%), from €1,526 to €639
- Gross operating margin +€21,038
up €21,038 (+163%), from €12,938 to €33,976
- Taxes +€4,391
up €4,391 (+180%), from €2,442 to €6,833
- Other operating charges +€3,209
up €3,209 (+329%), from €975 to €4,184
- Staff costs +€1,229
new in 2024: €1,229
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.
Derived cash bridge
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 | €21,767 | €49,141 | +€27,374 | +126% |
| Fixed assets | 21/28 | €40 | €0 | -€40 | -100% |
| Tangible fixed assets | 22/27 | €40 | €0 | -€40 | -100% |
| Furniture and vehicles | 24 | €40 | €0 | -€40 | -100% |
| Current assets | 29/58 | €21,727 | €49,141 | +€27,415 | +126% |
| Amounts receivable within one year | 40/41 | €20,877 | €44,464 | +€23,587 | +113% |
| Trade receivables | 40 | €6,927 | €33,877 | +€26,950 | +389% |
| Other amounts receivable | 41 | €13,950 | €10,587 | -€3,362 | -24.1% |
| Cash at bank and in hand | 54/58 | €24 | €4,677 | +€4,654 | +19,719% |
| Deferred charges and accrued income | 490/1 | €826 | - | -€826 | |
| Total equity and liabilities | 10/49 | €21,767 | €49,141 | +€27,374 | +126% |
| Equity | 10/15 | €10,359 | €32,635 | +€22,276 | +215% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €10,259 | €32,535 | +€22,276 | +217% |
| Distributable reserves | 133 | €10,259 | €32,535 | +€22,276 | +217% |
| Amounts payable | 17/49 | €11,408 | €16,506 | +€5,098 | +44.7% |
| Amounts payable within one year | 42/48 | €11,408 | €16,506 | +€5,098 | +44.7% |
| Trade debts | 44 | €1,526 | €639 | -€886 | -58.1% |
| Suppliers | 440/4 | €1,526 | €639 | -€886 | -58.1% |
| Advances received on contracts in progress | 46 | €6,493 | €6,493 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,389 | €9,374 | +€5,985 | +177% |
| Taxes | 450/3 | €3,389 | €9,303 | +€5,914 | +175% |
| Remuneration and social security | 454/9 | - | €71 | +€71 | |
| Remuneration, social security and pensions | 62 | - | €1,229 | +€1,229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €365 | €40 | -€325 | -88.9% |
| Other operating charges | 640/8 | €975 | €4,184 | +€3,209 | +329% |
| Gross operating margin | 9900 | €12,938 | €33,976 | +€21,038 | +163% |
| Operating profit (loss) | 9901 | €11,598 | €28,523 | +€16,925 | +146% |
| Financial income | 75/76B | €501 | €656 | +€155 | +31.0% |
| Recurring financial income | 75 | €501 | €656 | +€155 | +31.0% |
| Financial charges | 65/66B | €400 | €70 | -€330 | -82.5% |
| Recurring financial charges | 65 | €400 | €70 | -€330 | -82.5% |
| Profit (loss) for the period before taxes | 9903 | €11,699 | €29,109 | +€17,410 | +149% |
| Income taxes | 67/77 | €2,442 | €6,833 | +€4,391 | +180% |
| Profit (loss) for the period | 9904 | €9,257 | €22,276 | +€13,020 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €9,257 | €22,276 | +€13,020 | +141% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.