MGE MANAGEMENT CONSULT: 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.
MGE MANAGEMENT CONSULT
Largest movements
- Tangible fixed assets -€16,897
down €16,897 (-33.3%), from €50,691 to €33,794
- Receivables within one year +€16,472
up €16,472 (+783%), from €2,105 to €18,577
of which Trade receivables: +€17,987
- Debts after one year -€119,791
down €119,791 (-16.1%), from €743,024 to €623,232
of which Other amounts payable: -€65,000
- Reserves +€115,519
up €115,519 (+43.3%), from €267,000 to €382,519
- Gross operating margin +€46,557
up €46,557 (+42.4%), from €109,812 to €156,368
- Financial income +€38,010
up €38,010 (+544%), from €6,989 to €44,999
- Taxes +€17,919
up €17,919 (+82.7%), from €21,654 to €39,573
- Financial charges -€4,410
down €4,410 (-13.5%), from €32,717 to €28,307
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.
Derived cash bridge
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 | €1,137,038 | €1,132,464 | -€4,574 | -0.4% |
| Fixed assets | 21/28 | €1,100,691 | €1,083,794 | -€16,897 | -1.5% |
| Tangible fixed assets | 22/27 | €50,691 | €33,794 | -€16,897 | -33.3% |
| Furniture and vehicles | 24 | €50,691 | €33,794 | -€16,897 | -33.3% |
| Financial fixed assets | 28 | €1,050,000 | €1,050,000 | = | 0.0% |
| Current assets | 29/58 | €36,347 | €48,670 | +€12,323 | +33.9% |
| Amounts receivable within one year | 40/41 | €2,105 | €18,577 | +€16,472 | +783% |
| Trade receivables | 40 | €163 | €18,150 | +€17,987 | +11,062% |
| Other amounts receivable | 41 | €1,942 | €427 | -€1,515 | -78.0% |
| Cash at bank and in hand | 54/58 | €31,682 | €27,355 | -€4,326 | -13.7% |
| Deferred charges and accrued income | 490/1 | €2,561 | €2,738 | +€177 | +6.9% |
| Total equity and liabilities | 10/49 | €1,137,038 | €1,132,464 | -€4,574 | -0.4% |
| Equity | 10/15 | €310,006 | €425,525 | +€115,519 | +37.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €267,000 | €382,519 | +€115,519 | +43.3% |
| Distributable reserves | 133 | €267,000 | €382,519 | +€115,519 | +43.3% |
| Profit (loss) carried forward | 14 | €34,946 | €34,946 | = | 0.0% |
| Amounts payable | 17/49 | €827,032 | €706,939 | -€120,093 | -14.5% |
| Amounts payable after more than one year | 17 | €743,024 | €623,232 | -€119,791 | -16.1% |
| Financial debts | 170/4 | €293,024 | €238,232 | -€54,791 | -18.7% |
| Other amounts payable | 178/9 | €450,000 | €385,000 | -€65,000 | -14.4% |
| Amounts payable within one year | 42/48 | €68,258 | €69,258 | +€1,000 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €52,532 | €54,791 | +€2,259 | +4.3% |
| Trade debts | 44 | €2,155 | €3,929 | +€1,774 | +82.3% |
| Suppliers | 440/4 | €2,155 | €3,929 | +€1,774 | +82.3% |
| Taxes, remuneration and social security | 45 | €12,094 | €9,257 | -€2,837 | -23.5% |
| Taxes | 450/3 | €9,294 | €9,257 | -€37 | -0.4% |
| Remuneration and social security | 454/9 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €1,476 | €1,280 | -€196 | -13.3% |
| Accrued charges and deferred income | 492/3 | €15,750 | €14,448 | -€1,302 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,897 | €16,897 | = | 0.0% |
| Other operating charges | 640/8 | €459 | €1,071 | +€613 | +133% |
| Gross operating margin | 9900 | €109,812 | €156,368 | +€46,557 | +42.4% |
| Operating profit (loss) | 9901 | €92,456 | €138,400 | +€45,944 | +49.7% |
| Financial income | 75/76B | €6,989 | €44,999 | +€38,010 | +544% |
| Recurring financial income | 75 | €6,989 | €44,999 | +€38,010 | +544% |
| Financial charges | 65/66B | €32,717 | €28,307 | -€4,410 | -13.5% |
| Recurring financial charges | 65 | €32,717 | €28,307 | -€4,410 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €66,728 | €155,092 | +€88,364 | +132% |
| Income taxes | 67/77 | €21,654 | €39,573 | +€17,919 | +82.7% |
| Profit (loss) for the period | 9904 | €45,073 | €115,519 | +€70,445 | +156% |
| Profit (loss) for the period to be appropriated | 9905 | €45,073 | €115,519 | +€70,445 | +156% |
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 30 October 2026 via checked.be.