mGAGE: 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.
mGAGE
Largest movements
- Tangible fixed assets +€33,291
up €33,291 (+25.0%), from €133,338 to €166,630
of which Furniture and vehicles: +€35,000
- Cash -€28,190
down €28,190 (-63.0%), from €44,781 to €16,590
mainly Contributions, distributions and other (-€47,863) and Investment in fixed assets (net) (-€47,024)
- Receivables within one year -€6,345
down €6,345 (-24.4%), from €25,968 to €19,622
of which Other amounts receivable: -€10,580
- Other debts +€35,853
up €35,853 (+2539.5%), from €1,412 to €37,265
- Reserves -€26,932
down €26,932 (-23.0%), from €117,075 to €90,143
- Debts after one year -€10,562
down €10,562 (-11.7%), from €90,633 to €80,071
- Trade debts -€2,537
down €2,537 (-94.1%), from €2,696 to €159
- Gross operating margin -€8,148
down €8,148 (-14.1%), from €57,808 to €49,660
- Depreciation +€3,627
up €3,627 (+35.9%), from €10,106 to €13,732
- Taxes -€3,247
down €3,247 (-25.7%), from €12,629 to €9,382
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 | €237,309 | €233,705 | -€3,604 | -1.5% |
| Fixed assets | 21/28 | €162,138 | €195,430 | +€33,291 | +20.5% |
| Tangible fixed assets | 22/27 | €133,338 | €166,630 | +€33,291 | +25.0% |
| Land and buildings | 22 | €130,974 | €121,680 | -€9,294 | -7.1% |
| Plant, machinery and equipment | 23 | €0 | €7,585 | +€7,585 | +75853200.0% |
| Furniture and vehicles | 24 | €2,364 | €37,364 | +€35,000 | +1480.4% |
| Financial fixed assets | 28 | €28,800 | €28,800 | = | 0.0% |
| Current assets | 29/58 | €75,171 | €38,276 | -€36,895 | -49.1% |
| Amounts receivable within one year | 40/41 | €25,968 | €19,622 | -€6,345 | -24.4% |
| Trade receivables | 40 | €14,399 | €18,634 | +€4,235 | +29.4% |
| Other amounts receivable | 41 | €11,569 | €988 | -€10,580 | -91.5% |
| Cash at bank and in hand | 54/58 | €44,781 | €16,590 | -€28,190 | -63.0% |
| Deferred charges and accrued income | 490/1 | €4,423 | €2,063 | -€2,360 | -53.4% |
| Total equity and liabilities | 10/49 | €237,309 | €233,705 | -€3,604 | -1.5% |
| Equity | 10/15 | €123,275 | €96,343 | -€26,932 | -21.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,075 | €90,143 | -€26,932 | -23.0% |
| Distributable reserves | 133 | €117,075 | €90,143 | -€26,932 | -23.0% |
| Amounts payable | 17/49 | €114,034 | €137,362 | +€23,329 | +20.5% |
| Amounts payable after more than one year | 17 | €90,633 | €80,071 | -€10,562 | -11.7% |
| Financial debts | 170/4 | €90,633 | €80,071 | -€10,562 | -11.7% |
| Amounts payable within one year | 42/48 | €23,115 | €56,947 | +€33,832 | +146.4% |
| Current portion of amounts payable after more than one year | 42 | €10,355 | €10,562 | +€207 | +2.0% |
| Trade debts | 44 | €2,696 | €159 | -€2,537 | -94.1% |
| Suppliers | 440/4 | €2,696 | €159 | -€2,537 | -94.1% |
| Taxes, remuneration and social security | 45 | €8,652 | €8,962 | +€310 | +3.6% |
| Taxes | 450/3 | €8,652 | €8,962 | +€310 | +3.6% |
| Other amounts payable | 47/48 | €1,412 | €37,265 | +€35,853 | +2539.5% |
| Accrued charges and deferred income | 492/3 | €286 | €344 | +€58 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,106 | €13,732 | +€3,627 | +35.9% |
| Other operating charges | 640/8 | €1,012 | €1,022 | +€10 | +1.0% |
| Gross operating margin | 9900 | €57,808 | €49,660 | -€8,148 | -14.1% |
| Operating profit (loss) | 9901 | €46,691 | €34,906 | -€11,785 | -25.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,504 | €4,593 | +€89 | +2.0% |
| Recurring financial charges | 65 | €4,504 | €4,593 | +€89 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €42,187 | €30,313 | -€11,874 | -28.1% |
| Income taxes | 67/77 | €12,629 | €9,382 | -€3,247 | -25.7% |
| Profit (loss) for the period | 9904 | €29,558 | €20,930 | -€8,628 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,558 | €20,930 | -€8,628 | -29.2% |
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 10 October 2026 via checked.be.