MGH 2002: 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.
What changed
MGH 2002
NACE 46.649, Wholesale of other machinery and equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€799,101
2024 · €835,233-€36,133
Equity
€2.7m
2024 · €2.7m
Cash
€850,546
2024 · €493,841+€356,705
Balance sheet total
€8.0m
2024 · €7.7m+€348,267
Largest movements
Assets
- Cash +€356,705
up €356,705 (+72.2%), from €493,841 to €850,546
mainly Net result for the year (+€799,101) and Other debts (+€408,840)
- Receivables within one year +€233,981
up €233,981 (+10.1%), from €2.3m to €2.5m
of which Trade receivables: +€235,589
- Stocks and contracts -€181,796
down €181,796 (-4.0%), from €4.6m to €4.4m
of which Stocks: -€308,925
Equity and liabilities
- Other debts +€408,840
up €408,840 (+104.8%), from €390,261 to €799,101
- Short-term financial debts -€299,903
down €299,903 (-50.0%), from €600,022 to €300,119
- Trade debts +€206,179
up €206,179 (+5.7%), from €3.6m to €3.8m
Income statement
- Gross operating margin -€124,680
down €124,680 (-3.4%), from €3.7m to €3.6m
- Write-downs -€66,149
down €66,149 (-93.9%), from €70,476 to €4,327
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.
Result 2024
€835,233
Gross operating margin
-€124,680
Staff costs
+€24,656
Depreciation
-€6,004
Write-downs
+€66,149
Provisions
+€4,152
Other operating charges
-€614
Other operating items
-€9,790
Financial income
+€3,572
Financial charges
-€879
Taxes
+€7,304
Result 2025
€799,101
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.
From operations
+€1.5m
Investment
-€40,101
Financing
-€1.1m
Cash 2024
€493,841
From operations (derived)
+€1.5m
Net result for the year
+€799,101
Depreciation
+€73,910
Stocks and contracts
+€181,796
Receivables within one year
-€233,981
Deferred charges and accrued income
+€26,814
Provisions
+€7,306
Trade debts
+€206,179
Tax, wage and social debts
+€32,709
Other debts
+€408,840
Investment (derived)
-€40,101
Investment in fixed assets (net)
-€40,101
Financing
-€1.1m
Current portion of long-term debt
-€6,864
Short-term financial debts
-€299,903
Contributions, distributions and other
-€799,101
Cash 2025
€850,546
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,696,120 | €8,044,387 | +€348,267 | +4.5% |
| Fixed assets | 21/28 | €287,353 | €253,544 | -€33,809 | -11.8% |
| Tangible fixed assets | 22/27 | €268,713 | €234,472 | -€34,241 | -12.7% |
| Land and buildings | 22 | €136,740 | €113,171 | -€23,569 | -17.2% |
| Plant, machinery and equipment | 23 | €30,517 | €37,315 | +€6,798 | +22.3% |
| Furniture and vehicles | 24 | €92,223 | €60,846 | -€31,377 | -34.0% |
| Other tangible fixed assets | 26 | €9,233 | €23,140 | +€13,907 | +150.6% |
| Financial fixed assets | 28 | €18,640 | €19,072 | +€432 | +2.3% |
| Current assets | 29/58 | €7,408,767 | €7,790,843 | +€382,076 | +5.2% |
| Stocks and contracts in progress | 3 | €4,571,656 | €4,389,860 | -€181,796 | -4.0% |
| Stocks | 30/36 | €2,921,589 | €2,612,664 | -€308,925 | -10.6% |
| Contracts in progress | 37 | €1,650,066 | €1,777,196 | +€127,130 | +7.7% |
| Amounts receivable within one year | 40/41 | €2,311,876 | €2,545,858 | +€233,981 | +10.1% |
| Trade receivables | 40 | €2,310,179 | €2,545,767 | +€235,589 | +10.2% |
| Other amounts receivable | 41 | €1,698 | €90 | -€1,607 | -94.7% |
| Cash at bank and in hand | 54/58 | €493,841 | €850,546 | +€356,705 | +72.2% |
| Deferred charges and accrued income | 490/1 | €31,394 | €4,580 | -€26,814 | -85.4% |
| Total equity and liabilities | 10/49 | €7,696,120 | €8,044,387 | +€348,267 | +4.5% |
| Equity | 10/15 | €2,702,854 | €2,702,854 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,640,854 | €2,640,854 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €547,300 | €547,300 | = | 0.0% |
| Distributable reserves | 133 | €2,087,354 | €2,087,354 | = | 0.0% |
| Provisions and deferred taxes | 16 | €136,633 | €143,939 | +€7,306 | +5.3% |
| Provisions for liabilities and charges | 160/5 | €136,633 | €143,939 | +€7,306 | +5.3% |
| Major repairs and maintenance | 162 | €136,633 | €143,939 | +€7,306 | +5.3% |
| Amounts payable | 17/49 | €4,856,633 | €5,197,595 | +€340,962 | +7.0% |
| Amounts payable after more than one year | 17 | €9,190 | €9,190 | = | 0.0% |
| Other amounts payable | 178/9 | €9,190 | €9,190 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,847,443 | €5,188,405 | +€340,962 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €6,864 | - | -€6,864 | |
| Financial debts | 43 | €600,022 | €300,119 | -€299,903 | -50.0% |
| Credit institutions | 430/8 | €600,022 | €300,119 | -€299,903 | -50.0% |
| Trade debts | 44 | €3,603,797 | €3,809,977 | +€206,179 | +5.7% |
| Suppliers | 440/4 | €3,603,797 | €3,809,977 | +€206,179 | +5.7% |
| Taxes, remuneration and social security | 45 | €246,499 | €279,209 | +€32,709 | +13.3% |
| Taxes | 450/3 | €55,689 | €132,834 | +€77,144 | +138.5% |
| Remuneration and social security | 454/9 | €190,810 | €146,375 | -€44,435 | -23.3% |
| Other amounts payable | 47/48 | €390,261 | €799,101 | +€408,840 | +104.8% |
| Non-recurring operating income | 76A | €207 | €168 | -€39 | -18.7% |
| Remuneration, social security and pensions | 62 | €2,357,141 | €2,332,486 | -€24,656 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,906 | €73,910 | +€6,004 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €70,476 | €4,327 | -€66,149 | -93.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €11,458 | €7,306 | -€4,152 | -36.2% |
| Other operating charges | 640/8 | €5,177 | €5,791 | +€614 | +11.9% |
| Non-recurring operating charges | 66A | €1,418 | €11,208 | +€9,790 | +690.4% |
| Gross operating margin | 9900 | €3,690,732 | €3,566,052 | -€124,680 | -3.4% |
| Operating profit (loss) | 9901 | €1,177,155 | €1,131,025 | -€46,131 | -3.9% |
| Financial income | 75/76B | €608 | €4,179 | +€3,572 | +588.0% |
| Recurring financial income | 75 | €608 | €4,179 | +€3,572 | +588.0% |
| Financial charges | 65/66B | €33,403 | €34,281 | +€879 | +2.6% |
| Recurring financial charges | 65 | €33,403 | €34,281 | +€879 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €1,144,360 | €1,100,923 | -€43,437 | -3.8% |
| Income taxes | 67/77 | €309,127 | €301,823 | -€7,304 | -2.4% |
| Profit (loss) for the period | 9904 | €835,233 | €799,101 | -€36,133 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €835,233 | €799,101 | -€36,133 | -4.3% |
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 6 October 2026 via checked.be.