MG2W: 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.
MG2W
Largest movements
- Current investments +€29,155
up €29,155 (+48.6%), from €60,000 to €89,155
- Cash +€18,733
up €18,733 (+30.6%), from €61,303 to €80,036
mainly Other debts (+€157,293) and Net result for the year (+€103,222)
- Tangible fixed assets -€9,697
down €9,697 (-3.3%), from €294,900 to €285,203
of which Land and buildings: -€8,311
- Other debts +€157,293
new in 2025: €157,293
- Reserves -€86,410
down €86,410 (-34.0%), from €254,362 to €167,952
- Debts after one year -€40,000
down €40,000 (-50.0%), from €80,000 to €40,000
- Profit (loss) carried forward +€13,222
new in 2025: €13,222
- Tax, wage and social debts -€7,938
down €7,938 (-22.0%), from €36,126 to €28,187
- Gross operating margin +€22,763
up €22,763 (+17.9%), from €126,986 to €149,750
- Taxes -€1,604
down €1,604 (-5.3%), from €30,132 to €28,528
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 | €416,658 | €454,737 | +€38,078 | +9.1% |
| Fixed assets | 21/28 | €294,900 | €285,203 | -€9,697 | -3.3% |
| Tangible fixed assets | 22/27 | €294,900 | €285,203 | -€9,697 | -3.3% |
| Land and buildings | 22 | €289,946 | €281,635 | -€8,311 | -2.9% |
| Furniture and vehicles | 24 | €4,954 | €3,568 | -€1,386 | -28.0% |
| Current assets | 29/58 | €121,758 | €169,534 | +€47,776 | +39.2% |
| Amounts receivable within one year | 40/41 | - | €280 | +€280 | |
| Trade receivables | 40 | - | €280 | +€280 | |
| Current investments | 50/53 | €60,000 | €89,155 | +€29,155 | +48.6% |
| Cash at bank and in hand | 54/58 | €61,303 | €80,036 | +€18,733 | +30.6% |
| Deferred charges and accrued income | 490/1 | €455 | €62 | -€393 | -86.4% |
| Total equity and liabilities | 10/49 | €416,658 | €454,737 | +€38,078 | +9.1% |
| Equity | 10/15 | €259,362 | €186,175 | -€73,188 | -28.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €254,362 | €167,952 | -€86,410 | -34.0% |
| Distributable reserves | 133 | €254,362 | €167,952 | -€86,410 | -34.0% |
| Profit (loss) carried forward | 14 | - | €13,222 | +€13,222 | |
| Amounts payable | 17/49 | €157,296 | €268,562 | +€111,266 | +70.7% |
| Amounts payable after more than one year | 17 | €80,000 | €40,000 | -€40,000 | -50.0% |
| Financial debts | 170/4 | €80,000 | €40,000 | -€40,000 | -50.0% |
| Amounts payable within one year | 42/48 | €77,183 | €225,966 | +€148,783 | +192.8% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €1,057 | €485 | -€572 | -54.1% |
| Suppliers | 440/4 | €1,057 | €485 | -€572 | -54.1% |
| Taxes, remuneration and social security | 45 | €36,126 | €28,187 | -€7,938 | -22.0% |
| Taxes | 450/3 | €36,126 | €28,187 | -€7,938 | -22.0% |
| Other amounts payable | 47/48 | - | €157,293 | +€157,293 | |
| Accrued charges and deferred income | 492/3 | €113 | €2,596 | +€2,483 | +2196.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,697 | €9,697 | = | 0.0% |
| Other operating charges | 640/8 | €4,006 | €3,248 | -€758 | -18.9% |
| Gross operating margin | 9900 | €126,986 | €149,750 | +€22,763 | +17.9% |
| Operating profit (loss) | 9901 | €113,284 | €136,805 | +€23,521 | +20.8% |
| Financial income | 75/76B | €1,375 | €938 | -€437 | -31.8% |
| Recurring financial income | 75 | €1,375 | €938 | -€437 | -31.8% |
| Financial charges | 65/66B | €6,581 | €5,992 | -€589 | -9.0% |
| Recurring financial charges | 65 | €6,581 | €5,992 | -€589 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €108,078 | €131,751 | +€23,673 | +21.9% |
| Income taxes | 67/77 | €30,132 | €28,528 | -€1,604 | -5.3% |
| Profit (loss) for the period | 9904 | €77,946 | €103,222 | +€25,277 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €77,946 | €103,222 | +€25,277 | +32.4% |
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 7 October 2026 via checked.be.