MGDis: 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.
MGDis
Largest movements
- Receivables within one year -€649,477
down €649,477 (-76.3%), from €850,905 to €201,428
of which Trade receivables: -€657,403
- Stocks and contracts -€137,316
down €137,316 (-92.0%), from €149,319 to €12,003
- Trade debts -€719,454
down €719,454 (-86.5%), from €831,364 to €111,910
- Tax, wage and social debts -€38,586
down €38,586 (-74.7%), from €51,623 to €13,037
of which Taxes: -€38,823
- Other debts -€15,966
down €15,966 (-98.1%), from €16,273 to €307
- Gross operating margin -€24,782
down €24,782 (-10.7%), from €231,086 to €206,304
- Taxes -€4,995
down €4,995 (-12.4%), from €40,316 to €35,321
- Financial income -€4,230
down €4,230 (-59.6%), from €7,097 to €2,867
- Staff costs -€2,947
down €2,947 (-3.9%), from €75,933 to €72,986
- Other operating charges -€2,545
down €2,545 (-52.3%), from €4,865 to €2,320
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,239,845 | €467,074 | -€772,771 | -62.3% |
| Fixed assets | 21/28 | €9,654 | €16,926 | +€7,272 | +75.3% |
| Tangible fixed assets | 22/27 | €9,555 | €16,827 | +€7,272 | +76.1% |
| Furniture and vehicles | 24 | €9,555 | €16,827 | +€7,272 | +76.1% |
| Financial fixed assets | 28 | €99 | €99 | +€0 | +0.2% |
| Current assets | 29/58 | €1,230,191 | €450,148 | -€780,043 | -63.4% |
| Stocks and contracts in progress | 3 | €149,319 | €12,003 | -€137,316 | -92.0% |
| Stocks | 30/36 | €149,319 | €12,003 | -€137,316 | -92.0% |
| Amounts receivable within one year | 40/41 | €850,905 | €201,428 | -€649,477 | -76.3% |
| Trade receivables | 40 | €850,905 | €193,502 | -€657,403 | -77.3% |
| Other amounts receivable | 41 | €0 | €7,926 | +€7,926 | |
| Cash at bank and in hand | 54/58 | €229,967 | €236,717 | +€6,750 | +2.9% |
| Total equity and liabilities | 10/49 | €1,239,845 | €467,074 | -€772,771 | -62.3% |
| Equity | 10/15 | €330,585 | €331,820 | +€1,235 | +0.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €585 | €1,820 | +€1,235 | +211.1% |
| Amounts payable | 17/49 | €909,260 | €135,254 | -€774,006 | -85.1% |
| Amounts payable within one year | 42/48 | €909,260 | €135,254 | -€774,006 | -85.1% |
| Financial debts | 43 | €10,000 | €10,000 | = | 0.0% |
| Credit institutions | 430/8 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €831,364 | €111,910 | -€719,454 | -86.5% |
| Suppliers | 440/4 | €831,364 | €111,910 | -€719,454 | -86.5% |
| Taxes, remuneration and social security | 45 | €51,623 | €13,037 | -€38,586 | -74.7% |
| Taxes | 450/3 | €43,284 | €4,461 | -€38,823 | -89.7% |
| Remuneration and social security | 454/9 | €8,339 | €8,576 | +€237 | +2.8% |
| Other amounts payable | 47/48 | €16,273 | €307 | -€15,966 | -98.1% |
| Remuneration, social security and pensions | 62 | €75,933 | €72,986 | -€2,947 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,964 | €4,794 | -€2,170 | -31.2% |
| Other operating charges | 640/8 | €4,865 | €2,320 | -€2,545 | -52.3% |
| Gross operating margin | 9900 | €231,086 | €206,304 | -€24,782 | -10.7% |
| Operating profit (loss) | 9901 | €143,324 | €126,204 | -€17,120 | -11.9% |
| Financial income | 75/76B | €7,097 | €2,867 | -€4,230 | -59.6% |
| Recurring financial income | 75 | €7,097 | €2,867 | -€4,230 | -59.6% |
| Financial charges | 65/66B | €2,715 | €2,516 | -€199 | -7.3% |
| Recurring financial charges | 65 | €2,715 | €2,516 | -€199 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €147,706 | €126,555 | -€21,151 | -14.3% |
| Income taxes | 67/77 | €40,316 | €35,321 | -€4,995 | -12.4% |
| Profit (loss) for the period | 9904 | €107,390 | €91,234 | -€16,156 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €107,390 | €91,234 | -€16,156 | -15.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.