Mgenia: 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.
Mgenia
Largest movements
- Cash +€165,923
up €165,923 (+1,412%), from €11,753 to €177,676
mainly Net result for the year (+€254,966) and Tax, wage and social debts (+€113,716)
- Receivables within one year +€137,904
up €137,904 (+505%), from €27,323 to €165,227
- Reserves +€254,966
up €254,966 (+141%), from €181,325 to €436,290
- Tax, wage and social debts +€113,716
up €113,716 (+181%), from €62,701 to €176,417
- Debts after one year -€64,000
no longer reported in 2025 (was €64,000)
- Gross operating margin +€106,411
up €106,411 (+44.0%), from €241,746 to €348,158
- Taxes +€27,783
up €27,783 (+49.8%), from €55,824 to €83,608
- Depreciation +€4,983
up €4,983 (+177%), from €2,822 to €7,804
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 | €321,448 | €620,922 | +€299,474 | +93.2% |
| Fixed assets | 21/28 | €273,742 | €268,163 | -€5,580 | -2.0% |
| Tangible fixed assets | 22/27 | €273,742 | €268,163 | -€5,580 | -2.0% |
| Land and buildings | 22 | €270,623 | €263,799 | -€6,824 | -2.5% |
| Plant, machinery and equipment | 23 | €621 | €558 | -€63 | -10.2% |
| Furniture and vehicles | 24 | €2,498 | €3,806 | +€1,308 | +52.4% |
| Current assets | 29/58 | €47,706 | €352,759 | +€305,054 | +639% |
| Amounts receivable within one year | 40/41 | €27,323 | €165,227 | +€137,904 | +505% |
| Trade receivables | 40 | €27,323 | €165,227 | +€137,904 | +505% |
| Cash at bank and in hand | 54/58 | €11,753 | €177,676 | +€165,923 | +1,412% |
| Deferred charges and accrued income | 490/1 | €8,629 | €9,856 | +€1,227 | +14.2% |
| Total equity and liabilities | 10/49 | €321,448 | €620,922 | +€299,474 | +93.2% |
| Equity | 10/15 | €183,325 | €438,290 | +€254,966 | +139% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €181,325 | €436,290 | +€254,966 | +141% |
| Distributable reserves | 133 | €181,325 | €436,290 | +€254,966 | +141% |
| Amounts payable | 17/49 | €138,123 | €182,631 | +€44,508 | +32.2% |
| Amounts payable after more than one year | 17 | €64,000 | - | -€64,000 | |
| Financial debts | 170/4 | €64,000 | - | -€64,000 | |
| Amounts payable within one year | 42/48 | €74,123 | €182,631 | +€108,507 | +146% |
| Trade debts | 44 | €5,950 | €4,851 | -€1,099 | -18.5% |
| Suppliers | 440/4 | €5,950 | €4,851 | -€1,099 | -18.5% |
| Taxes, remuneration and social security | 45 | €62,701 | €176,417 | +€113,716 | +181% |
| Taxes | 450/3 | €62,701 | €176,417 | +€113,716 | +181% |
| Other amounts payable | 47/48 | €5,473 | €1,363 | -€4,110 | -75.1% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,822 | €7,804 | +€4,983 | +177% |
| Other operating charges | 640/8 | €476 | €483 | +€7 | +1.5% |
| Gross operating margin | 9900 | €241,746 | €348,158 | +€106,411 | +44.0% |
| Operating profit (loss) | 9901 | €238,449 | €339,870 | +€101,421 | +42.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,301 | €1,297 | -€4 | -0.3% |
| Recurring financial charges | 65 | €1,301 | €1,297 | -€4 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €237,149 | €338,573 | +€101,424 | +42.8% |
| Income taxes | 67/77 | €55,824 | €83,608 | +€27,783 | +49.8% |
| Profit (loss) for the period | 9904 | €181,325 | €254,966 | +€73,641 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €181,325 | €254,966 | +€73,641 | +40.6% |
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 14 October 2026 via checked.be.