MGD PATRIMONIAL: what changed
MGD PATRIMONIAL
Largest movements
- Current investments -€52,831
down €52,831 (-90.7%), from €58,251 to €5,420
- Cash +€47,427
up €47,427 (+129%), from €36,739 to €84,166
mainly Net result for the year (+€94,060) and Current investments (+€52,831)
- Tangible fixed assets -€13,447
down €13,447 (-5.7%), from €237,791 to €224,344
of which Land and buildings: -€12,735
- Receivables within one year +€12,455
up €12,455 (+80.5%), from €15,464 to €27,919
of which Trade receivables: +€12,530
- Reserves +€71,315
up €71,315 (+45.1%), from €158,145 to €229,460
- Other debts -€57,398
down €57,398 (-44.9%), from €127,740 to €70,342
- Debts after one year -€27,283
down €27,283 (-100%), from €27,283 to €0
- Tax, wage and social debts +€6,138
up €6,138 (+226%), from €2,712 to €8,850
of which Taxes: +€6,138
- Financial charges -€21,455
down €21,455, from €12,834 to -€8,621
- Gross operating margin +€17,536
up €17,536 (+14.9%), from €117,535 to €135,071
- Taxes +€9,109
up €9,109 (+35.6%), from €25,554 to €34,664
- Financial income +€4,016
up €4,016 (+98.5%), from €4,075 to €8,090
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €351,449 | €346,191 | -€5,258 | -1.5% |
| Fixed assets | 21/28 | €237,791 | €224,344 | -€13,447 | -5.7% |
| Tangible fixed assets | 22/27 | €237,791 | €224,344 | -€13,447 | -5.7% |
| Land and buildings | 22 | €227,617 | €214,882 | -€12,735 | -5.6% |
| Furniture and vehicles | 24 | €7,175 | €6,463 | -€712 | -9.9% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €113,657 | €121,846 | +€8,189 | +7.2% |
| Amounts receivable within one year | 40/41 | €15,464 | €27,919 | +€12,455 | +80.5% |
| Trade receivables | 40 | €12,951 | €25,481 | +€12,530 | +96.8% |
| Other amounts receivable | 41 | €2,514 | €2,438 | -€76 | -3.0% |
| Current investments | 50/53 | €58,251 | €5,420 | -€52,831 | -90.7% |
| Cash at bank and in hand | 54/58 | €36,739 | €84,166 | +€47,427 | +129% |
| Deferred charges and accrued income | 490/1 | €3,203 | €4,341 | +€1,139 | +35.6% |
| Total equity and liabilities | 10/49 | €351,449 | €346,191 | -€5,258 | -1.5% |
| Equity | 10/15 | €164,345 | €235,660 | +€71,315 | +43.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €158,145 | €229,460 | +€71,315 | +45.1% |
| Distributable reserves | 133 | €158,145 | €229,460 | +€71,315 | +45.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,104 | €110,531 | -€76,573 | -40.9% |
| Amounts payable after more than one year | 17 | €27,283 | €0 | -€27,283 | -100% |
| Financial debts | 170/4 | €27,283 | €0 | -€27,283 | -100% |
| Amounts payable within one year | 42/48 | €157,386 | €107,951 | -€49,435 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €26,467 | €27,283 | +€816 | +3.1% |
| Trade debts | 44 | €467 | €1,477 | +€1,010 | +216% |
| Suppliers | 440/4 | €467 | €1,477 | +€1,010 | +216% |
| Taxes, remuneration and social security | 45 | €2,712 | €8,850 | +€6,138 | +226% |
| Taxes | 450/3 | €2,712 | €8,850 | +€6,138 | +226% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €127,740 | €70,342 | -€57,398 | -44.9% |
| Accrued charges and deferred income | 492/3 | €2,435 | €2,580 | +€145 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,748 | €17,043 | -€705 | -4.0% |
| Other operating charges | 640/8 | €5,469 | €6,015 | +€546 | +10.0% |
| Non-recurring operating charges | 66A | €275 | €0 | -€275 | -100% |
| Gross operating margin | 9900 | €117,535 | €135,071 | +€17,536 | +14.9% |
| Operating profit (loss) | 9901 | €94,043 | €112,013 | +€17,970 | +19.1% |
| Financial income | 75/76B | €4,075 | €8,090 | +€4,016 | +98.5% |
| Recurring financial income | 75 | €4,075 | €8,090 | +€4,016 | +98.5% |
| Financial charges | 65/66B | €12,834 | -€8,621 | -€21,455 | |
| Recurring financial charges | 65 | €12,834 | -€8,621 | -€21,455 | |
| Profit (loss) for the period before taxes | 9903 | €85,284 | €128,724 | +€43,440 | +50.9% |
| Income taxes | 67/77 | €25,554 | €34,664 | +€9,109 | +35.6% |
| Profit (loss) for the period | 9904 | €59,730 | €94,060 | +€34,330 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,730 | €94,060 | +€34,330 | +57.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.