MGB CONSTRUCT: 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.
MGB CONSTRUCT
Largest movements
- Tangible fixed assets -€288,971
down €288,971 (-57.1%), from €506,061 to €217,090
of which Land and buildings: -€330,070
- Receivables within one year +€76,432
up €76,432 (+181.0%), from €42,235 to €118,667
of which Trade receivables: +€75,735
- Cash +€68,471
up €68,471 (+1265.2%), from €5,412 to €73,883
mainly Investment in fixed assets (net) (+€273,726) and Net result for the year (+€156,673)
- Stocks and contracts -€15,546
no longer reported in 2025 (was €15,546)
- Deferred charges and accrued income -€6,267
no longer reported in 2025 (was €6,267)
- Debts after one year -€353,388
down €353,388 (-69.9%), from €505,918 to €152,530
- Profit (loss) carried forward +€156,673
up €156,673, from -€18,046 to €138,627
- Tax, wage and social debts +€37,119
up €37,119 (+162.1%), from €22,898 to €60,017
of which Taxes: +€43,655
- Current portion of long-term debt -€13,592
down €13,592 (-60.1%), from €22,597 to €9,005
- Gross operating margin +€225,530
up €225,530 (+71.0%), from €317,515 to €543,045
- Taxes +€46,648
new in 2025: €46,648
- Depreciation -€15,052
down €15,052 (-49.7%), from €30,297 to €15,245
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 | €575,758 | €409,878 | -€165,880 | -28.8% |
| Fixed assets | 21/28 | €506,298 | €217,327 | -€288,971 | -57.1% |
| Tangible fixed assets | 22/27 | €506,061 | €217,090 | -€288,971 | -57.1% |
| Land and buildings | 22 | €497,935 | €167,865 | -€330,070 | -66.3% |
| Plant, machinery and equipment | 23 | €8,126 | €9,775 | +€1,649 | +20.3% |
| Furniture and vehicles | 24 | - | €39,450 | +€39,450 | |
| Financial fixed assets | 28 | €237 | €237 | = | 0.0% |
| Current assets | 29/58 | €69,459 | €192,551 | +€123,091 | +177.2% |
| Stocks and contracts in progress | 3 | €15,546 | - | -€15,546 | |
| Stocks | 30/36 | €15,546 | - | -€15,546 | |
| Amounts receivable within one year | 40/41 | €42,235 | €118,667 | +€76,432 | +181.0% |
| Trade receivables | 40 | €42,235 | €117,970 | +€75,735 | +179.3% |
| Other amounts receivable | 41 | - | €698 | +€698 | |
| Cash at bank and in hand | 54/58 | €5,412 | €73,883 | +€68,471 | +1265.2% |
| Deferred charges and accrued income | 490/1 | €6,267 | - | -€6,267 | |
| Total equity and liabilities | 10/49 | €575,758 | €409,878 | -€165,880 | -28.8% |
| Equity | 10/15 | -€11,846 | €144,827 | +€156,673 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €6,200 | -€12,400 | -66.7% |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | -€18,046 | €138,627 | +€156,673 | |
| Amounts payable | 17/49 | €587,604 | €265,051 | -€322,553 | -54.9% |
| Amounts payable after more than one year | 17 | €505,918 | €152,530 | -€353,388 | -69.9% |
| Financial debts | 170/4 | €505,918 | €152,530 | -€353,388 | -69.9% |
| Amounts payable within one year | 42/48 | €81,685 | €112,521 | +€30,835 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €22,597 | €9,005 | -€13,592 | -60.1% |
| Trade debts | 44 | €11,190 | €14,841 | +€3,652 | +32.6% |
| Suppliers | 440/4 | €11,190 | €14,841 | +€3,652 | +32.6% |
| Taxes, remuneration and social security | 45 | €22,898 | €60,017 | +€37,119 | +162.1% |
| Taxes | 450/3 | €5,859 | €49,514 | +€43,655 | +745.1% |
| Remuneration and social security | 454/9 | €17,039 | €10,503 | -€6,536 | -38.4% |
| Other amounts payable | 47/48 | €25,000 | €28,658 | +€3,658 | +14.6% |
| Remuneration, social security and pensions | 62 | €296,525 | €301,408 | +€4,882 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,297 | €15,245 | -€15,052 | -49.7% |
| Other operating charges | 640/8 | €1,500 | - | -€1,500 | |
| Gross operating margin | 9900 | €317,515 | €543,045 | +€225,530 | +71.0% |
| Operating profit (loss) | 9901 | -€10,807 | €226,393 | +€237,200 | |
| Financial charges | 65/66B | €18,544 | €23,072 | +€4,528 | +24.4% |
| Recurring financial charges | 65 | €18,544 | €23,072 | +€4,528 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,351 | €203,320 | +€232,671 | |
| Income taxes | 67/77 | - | €46,648 | +€46,648 | |
| Profit (loss) for the period | 9904 | -€29,351 | €156,673 | +€186,024 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,351 | €156,673 | +€186,024 |
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.