MGB-TECH: 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.
MGB-TECH
Largest movements
- Cash -€279,245
down €279,245 (-32.3%), from €863,612 to €584,367
mainly Contributions, distributions and other (-€547,240) and Trade debts (-€247,396)
- Receivables within one year +€184,644
up €184,644 (+24.7%), from €747,559 to €932,203
of which Trade receivables: +€146,449
- Current investments -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Tangible fixed assets +€34,237
up €34,237 (+7.3%), from €471,629 to €505,866
of which Furniture and vehicles: +€44,848
- Trade debts -€247,396
down €247,396 (-32.6%), from €758,668 to €511,271
- Reserves +€71,277
up €71,277 (+4.5%), from €1.6m to €1.6m
of which Distributable reserves: +€71,277
- Other debts +€70,018
up €70,018 (+14.7%), from €477,223 to €547,240
- Gross operating margin -€75,998
down €75,998 (-4.1%), from €1.8m to €1.8m
- Taxes -€59,751
down €59,751 (-31.5%), from €189,684 to €129,933
- Other operating charges -€45,838
down €45,838 (-94.7%), from €48,412 to €2,574
- Write-downs +€45,697
up €45,697, from -€45,697 to €0
- Staff costs +€37,490
up €37,490 (+4.3%), from €869,629 to €907,119
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 | €3,105,882 | €3,006,346 | -€99,537 | -3.2% |
| Fixed assets | 21/28 | €471,629 | €505,866 | +€34,237 | +7.3% |
| Tangible fixed assets | 22/27 | €471,629 | €505,866 | +€34,237 | +7.3% |
| Plant, machinery and equipment | 23 | €18,603 | €17,075 | -€1,528 | -8.2% |
| Furniture and vehicles | 24 | €145,271 | €190,119 | +€44,848 | +30.9% |
| Other tangible fixed assets | 26 | €307,755 | €298,672 | -€9,083 | -3.0% |
| Current assets | 29/58 | €2,634,254 | €2,500,480 | -€133,774 | -5.1% |
| Stocks and contracts in progress | 3 | €694,341 | €682,010 | -€12,331 | -1.8% |
| Stocks | 30/36 | €694,341 | €682,010 | -€12,331 | -1.8% |
| Amounts receivable within one year | 40/41 | €747,559 | €932,203 | +€184,644 | +24.7% |
| Trade receivables | 40 | €740,652 | €887,100 | +€146,449 | +19.8% |
| Other amounts receivable | 41 | €6,907 | €45,103 | +€38,195 | +553.0% |
| Current investments | 50/53 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €863,612 | €584,367 | -€279,245 | -32.3% |
| Deferred charges and accrued income | 490/1 | €28,741 | €51,900 | +€23,159 | +80.6% |
| Total equity and liabilities | 10/49 | €3,105,882 | €3,006,346 | -€99,537 | -3.2% |
| Equity | 10/15 | €1,594,589 | €1,665,865 | +€71,277 | +4.5% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €1,569,789 | €1,641,065 | +€71,277 | +4.5% |
| Non-distributable reserves | 130/1 | €2,480 | €2,480 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,480 | €2,480 | = | 0.0% |
| Distributable reserves | 133 | €1,567,309 | €1,638,585 | +€71,277 | +4.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,511,294 | €1,340,481 | -€170,813 | -11.3% |
| Amounts payable within one year | 42/48 | €1,490,189 | €1,330,317 | -€159,872 | -10.7% |
| Trade debts | 44 | €758,668 | €511,271 | -€247,396 | -32.6% |
| Suppliers | 440/4 | €758,668 | €511,271 | -€247,396 | -32.6% |
| Taxes, remuneration and social security | 45 | €254,299 | €271,806 | +€17,507 | +6.9% |
| Taxes | 450/3 | €97,435 | €98,193 | +€758 | +0.8% |
| Remuneration and social security | 454/9 | €156,864 | €173,613 | +€16,749 | +10.7% |
| Other amounts payable | 47/48 | €477,223 | €547,240 | +€70,018 | +14.7% |
| Accrued charges and deferred income | 492/3 | €21,104 | €10,163 | -€10,941 | -51.8% |
| Remuneration, social security and pensions | 62 | €869,629 | €907,119 | +€37,490 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,409 | €103,809 | +€16,399 | +18.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€45,697 | €0 | +€45,697 | |
| Other operating charges | 640/8 | €48,412 | €2,574 | -€45,838 | -94.7% |
| Gross operating margin | 9900 | €1,837,363 | €1,761,365 | -€75,998 | -4.1% |
| Operating profit (loss) | 9901 | €877,610 | €747,864 | -€129,747 | -14.8% |
| Financial income | 75/76B | €3,328 | €8,311 | +€4,983 | +149.7% |
| Recurring financial income | 75 | €3,328 | €8,311 | +€4,983 | +149.7% |
| Financial charges | 65/66B | €5,253 | €7,725 | +€2,473 | +47.1% |
| Recurring financial charges | 65 | €5,253 | €7,725 | +€2,473 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | €875,686 | €748,450 | -€127,236 | -14.5% |
| Income taxes | 67/77 | €189,684 | €129,933 | -€59,751 | -31.5% |
| Profit (loss) for the period | 9904 | €686,002 | €618,517 | -€67,486 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €686,002 | €618,517 | -€67,486 | -9.8% |
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 8 October 2026 via checked.be.