MGBO: 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.
MGBO
Largest movements
- Receivables within one year -€11,436
down €11,436 (-20.4%), from €56,016 to €44,579
of which Trade receivables: -€12,583
- Tangible fixed assets -€3,950
down €3,950 (-35.8%), from €11,048 to €7,098
of which Plant, machinery and equipment: -€6,635
- Cash -€1,616
down €1,616 (-37.8%), from €4,281 to €2,665
mainly Net result for the year (-€33,503) and Tax, wage and social debts (-€6,653)
- Profit (loss) carried forward -€33,503
new in 2025: -€33,503
- Trade debts +€22,568
up €22,568 (+2758.4%), from €818 to €23,386
- Tax, wage and social debts -€6,653
no longer reported in 2025 (was €6,653)
- Other debts +€894
up €894 (+13.5%), from €6,634 to €7,528
- Gross operating margin -€71,266
down €71,266, from €59,949 to -€11,317
- Purchases and services -€61,176
no longer reported in 2025 (was €61,176)
- Taxes +€12,596
new in 2025: €12,596
- Other operating charges -€1,053
down €1,053 (-65.3%), from €1,613 to €560
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 | €71,345 | €54,652 | -€16,693 | -23.4% |
| Fixed assets | 21/28 | €11,048 | €7,098 | -€3,950 | -35.8% |
| Tangible fixed assets | 22/27 | €11,048 | €7,098 | -€3,950 | -35.8% |
| Plant, machinery and equipment | 23 | €9,585 | €2,950 | -€6,635 | -69.2% |
| Furniture and vehicles | 24 | €1,463 | €4,148 | +€2,685 | +183.6% |
| Current assets | 29/58 | €60,297 | €47,554 | -€12,743 | -21.1% |
| Amounts receivable within one year | 40/41 | €56,016 | €44,579 | -€11,436 | -20.4% |
| Trade receivables | 40 | €56,016 | €43,433 | -€12,583 | -22.5% |
| Other amounts receivable | 41 | - | €1,147 | +€1,147 | |
| Cash at bank and in hand | 54/58 | €4,281 | €2,665 | -€1,616 | -37.8% |
| Deferred charges and accrued income | 490/1 | - | €310 | +€310 | |
| Total equity and liabilities | 10/49 | €71,345 | €54,652 | -€16,693 | -23.4% |
| Equity | 10/15 | €57,240 | €23,738 | -€33,503 | -58.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | €3,000 | = | 0.0% |
| Issued capital | 100 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €54,240 | €54,240 | = | 0.0% |
| Distributable reserves | 133 | €54,240 | €54,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€33,503 | -€33,503 | |
| Amounts payable | 17/49 | €14,105 | €30,914 | +€16,809 | +119.2% |
| Amounts payable within one year | 42/48 | €14,105 | €30,914 | +€16,809 | +119.2% |
| Trade debts | 44 | €818 | €23,386 | +€22,568 | +2758.4% |
| Suppliers | 440/4 | €818 | €23,386 | +€22,568 | +2758.4% |
| Taxes, remuneration and social security | 45 | €6,653 | - | -€6,653 | |
| Taxes | 450/3 | €6,653 | - | -€6,653 | |
| Other amounts payable | 47/48 | €6,634 | €7,528 | +€894 | +13.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €61,176 | - | -€61,176 | |
| Remuneration, social security and pensions | 62 | €188 | €33 | -€155 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,429 | €8,939 | +€511 | +6.1% |
| Other operating charges | 640/8 | €1,613 | €560 | -€1,053 | -65.3% |
| Gross operating margin | 9900 | €59,949 | -€11,317 | -€71,266 | |
| Operating profit (loss) | 9901 | €49,720 | -€20,849 | -€70,569 | |
| Financial income | 75/76B | €207 | €34 | -€172 | -83.5% |
| Recurring financial income | 75 | €207 | €34 | -€172 | -83.5% |
| Financial charges | 65/66B | €571 | €92 | -€479 | -83.9% |
| Recurring financial charges | 65 | €571 | €92 | -€479 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €49,355 | -€20,907 | -€70,262 | |
| Income taxes | 67/77 | - | €12,596 | +€12,596 | |
| Profit (loss) for the period | 9904 | €49,355 | -€33,503 | -€82,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,355 | -€33,503 | -€82,858 |
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.