MGC: 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.
MGC
Largest movements
- Receivables after one year -€77,500
no longer reported in 2024 (was €77,500)
- Tangible fixed assets -€23,368
down €23,368 (-11.2%), from €208,128 to €184,759
of which Land and buildings: -€23,368
- Deferred charges and accrued income -€3,056
down €3,056 (-73.6%), from €4,154 to €1,098
- Other debts -€60,829
down €60,829 (-92.7%), from €65,626 to €4,797
- Debts after one year -€27,751
down €27,751 (-15.1%), from €183,930 to €156,179
of which Financial debts: -€27,751
- Profit (loss) carried forward -€17,368
down €17,368 (-37.1%), from -€46,762 to -€64,129
- Trade debts +€2,932
up €2,932 (+491.3%), from €597 to €3,529
- Gross operating margin +€8,895
up €8,895 (+62.5%), from €14,224 to €23,119
- Other operating charges +€6,027
up €6,027 (+146.2%), from €4,121 to €10,148
- Financial income -€3,810
no longer reported in 2024 (was €3,810)
- Financial charges -€385
down €385 (-5.3%), from €7,216 to €6,831
- Depreciation -€344
down €344 (-1.5%), from €23,712 to €23,368
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €292,188 | €190,920 | -€101,268 | -34.7% |
| Fixed assets | 21/28 | €208,378 | €185,009 | -€23,368 | -11.2% |
| Tangible fixed assets | 22/27 | €208,128 | €184,759 | -€23,368 | -11.2% |
| Land and buildings | 22 | €192,483 | €169,114 | -€23,368 | -12.1% |
| Plant, machinery and equipment | 23 | €15,645 | €15,645 | = | 0.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €83,811 | €5,911 | -€77,900 | -92.9% |
| Amounts receivable after more than one year | 29 | €77,500 | - | -€77,500 | |
| Other amounts receivable | 291 | €77,500 | - | -€77,500 | |
| Amounts receivable within one year | 40/41 | €1,847 | €3,743 | +€1,896 | +102.7% |
| Trade receivables | 40 | €267 | €2,625 | +€2,358 | +884.4% |
| Other amounts receivable | 41 | €1,580 | €1,118 | -€462 | -29.3% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €309 | €1,069 | +€760 | +245.9% |
| Deferred charges and accrued income | 490/1 | €4,154 | €1,098 | -€3,056 | -73.6% |
| Total equity and liabilities | 10/49 | €292,188 | €190,920 | -€101,268 | -34.7% |
| Equity | 10/15 | €15,826 | -€1,542 | -€17,368 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €37,588 | €37,588 | = | 0.0% |
| Distributable reserves | 133 | €37,588 | €37,588 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,762 | -€64,129 | -€17,368 | -37.1% |
| Amounts payable | 17/49 | €276,362 | €192,462 | -€83,900 | -30.4% |
| Amounts payable after more than one year | 17 | €183,930 | €156,179 | -€27,751 | -15.1% |
| Financial debts | 170/4 | €83,930 | €56,179 | -€27,751 | -33.1% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €92,433 | €36,283 | -€56,149 | -60.7% |
| Current portion of amounts payable after more than one year | 42 | €24,539 | €24,664 | +€125 | +0.5% |
| Trade debts | 44 | €597 | €3,529 | +€2,932 | +491.3% |
| Suppliers | 440/4 | €597 | €3,529 | +€2,932 | +491.3% |
| Taxes, remuneration and social security | 45 | €1,670 | €3,293 | +€1,622 | +97.1% |
| Taxes | 450/3 | €722 | €3,293 | +€2,571 | +356.0% |
| Remuneration and social security | 454/9 | €948 | - | -€948 | |
| Other amounts payable | 47/48 | €65,626 | €4,797 | -€60,829 | -92.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,712 | €23,368 | -€344 | -1.5% |
| Other operating charges | 640/8 | €4,121 | €10,148 | +€6,027 | +146.2% |
| Gross operating margin | 9900 | €14,224 | €23,119 | +€8,895 | +62.5% |
| Operating profit (loss) | 9901 | -€13,609 | -€10,397 | +€3,212 | +23.6% |
| Financial income | 75/76B | €3,810 | - | -€3,810 | |
| Recurring financial income | 75 | €3,810 | - | -€3,810 | |
| Financial charges | 65/66B | €7,216 | €6,831 | -€385 | -5.3% |
| Recurring financial charges | 65 | €7,216 | €6,831 | -€385 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,016 | -€17,228 | -€213 | -1.2% |
| Income taxes | 67/77 | €132 | €140 | +€8 | +6.1% |
| Profit (loss) for the period | 9904 | -€17,147 | -€17,368 | -€221 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,147 | -€17,368 | -€221 | -1.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.