MGCG: 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.
MGCG
Largest movements
- Cash +€65,963
up €65,963 (+363.0%), from €18,172 to €84,135
mainly Net result for the year (+€69,408) and Tax, wage and social debts (+€16,672)
- Receivables within one year +€10,959
up €10,959 (+38.5%), from €28,484 to €39,442
of which Other amounts receivable: +€8,965
- Financial fixed assets +€5,250
up €5,250 (+10.9%), from €48,223 to €53,473
- Tangible fixed assets -€4,674
down €4,674 (-34.0%), from €13,744 to €9,070
- Reserves +€54,006
up €54,006 (+55.0%), from €98,208 to €152,214
- Tax, wage and social debts +€16,672
up €16,672 (+177.3%), from €9,404 to €26,076
- Other debts +€6,601
up €6,601 (+223.2%), from €2,957 to €9,558
- Gross operating margin +€19,528
up €19,528 (+22.9%), from €85,224 to €104,752
- Taxes +€5,868
up €5,868 (+24.6%), from €23,860 to €29,728
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 | €111,817 | €188,747 | +€76,929 | +68.8% |
| Fixed assets | 21/28 | €61,967 | €62,543 | +€576 | +0.9% |
| Tangible fixed assets | 22/27 | €13,744 | €9,070 | -€4,674 | -34.0% |
| Furniture and vehicles | 24 | €13,744 | €9,070 | -€4,674 | -34.0% |
| Financial fixed assets | 28 | €48,223 | €53,473 | +€5,250 | +10.9% |
| Current assets | 29/58 | €49,851 | €126,204 | +€76,353 | +153.2% |
| Amounts receivable within one year | 40/41 | €28,484 | €39,442 | +€10,959 | +38.5% |
| Trade receivables | 40 | €27,266 | €29,260 | +€1,994 | +7.3% |
| Other amounts receivable | 41 | €1,218 | €10,182 | +€8,965 | +736.3% |
| Cash at bank and in hand | 54/58 | €18,172 | €84,135 | +€65,963 | +363.0% |
| Deferred charges and accrued income | 490/1 | €3,195 | €2,627 | -€569 | -17.8% |
| Total equity and liabilities | 10/49 | €111,817 | €188,747 | +€76,929 | +68.8% |
| Equity | 10/15 | €98,208 | €152,214 | +€54,006 | +55.0% |
| Reserves | 13 | €98,208 | €152,214 | +€54,006 | +55.0% |
| Distributable reserves | 133 | €98,208 | €152,214 | +€54,006 | +55.0% |
| Amounts payable | 17/49 | €13,610 | €36,533 | +€22,923 | +168.4% |
| Amounts payable within one year | 42/48 | €13,610 | €36,533 | +€22,923 | +168.4% |
| Trade debts | 44 | €1,249 | €899 | -€350 | -28.0% |
| Suppliers | 440/4 | €1,249 | €899 | -€350 | -28.0% |
| Taxes, remuneration and social security | 45 | €9,404 | €26,076 | +€16,672 | +177.3% |
| Taxes | 450/3 | €9,404 | €26,076 | +€16,672 | +177.3% |
| Other amounts payable | 47/48 | €2,957 | €9,558 | +€6,601 | +223.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,674 | €4,674 | = | 0.0% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €85,224 | €104,752 | +€19,528 | +22.9% |
| Operating profit (loss) | 9901 | €79,651 | €99,150 | +€19,499 | +24.5% |
| Financial income | 75/76B | - | €135 | +€135 | |
| Recurring financial income | 75 | - | €135 | +€135 | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €79,516 | €99,136 | +€19,619 | +24.7% |
| Income taxes | 67/77 | €23,860 | €29,728 | +€5,868 | +24.6% |
| Profit (loss) for the period | 9904 | €55,656 | €69,408 | +€13,752 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,656 | €69,408 | +€13,752 | +24.7% |
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 5 October 2026 via checked.be.