MGH CONSTRUCT: 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.
MGH CONSTRUCT
Largest movements
- Receivables within one year -€8,774
down €8,774 (-91.2%), from €9,621 to €847
of which Trade receivables: -€7,600
- Tangible fixed assets -€4,245
down €4,245 (-47.4%), from €8,964 to €4,719
of which Furniture and vehicles: -€3,600
- Cash -€2,273
down €2,273 (-100.0%), from €2,273 to €1
mainly Net result for the year (-€9,702) and Other debts (-€5,332)
- Profit (loss) carried forward -€9,702
down €9,702, from €8,854 to -€848
- Other debts -€5,332
down €5,332 (-83.7%), from €6,367 to €1,035
- Gross operating margin -€20,177
down €20,177, from €14,907 to -€5,270
- Depreciation -€816
down €816 (-16.1%), from €5,061 to €4,245
- Other operating charges -€270
down €270 (-68.0%), from €398 to €128
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,858 | €5,688 | -€15,171 | -72.7% |
| Fixed assets | 21/28 | €8,964 | €4,719 | -€4,245 | -47.4% |
| Tangible fixed assets | 22/27 | €8,964 | €4,719 | -€4,245 | -47.4% |
| Plant, machinery and equipment | 23 | €2,846 | €2,201 | -€645 | -22.7% |
| Furniture and vehicles | 24 | €6,118 | €2,518 | -€3,600 | -58.8% |
| Current assets | 29/58 | €11,894 | €969 | -€10,926 | -91.9% |
| Amounts receivable within one year | 40/41 | €9,621 | €847 | -€8,774 | -91.2% |
| Trade receivables | 40 | €7,600 | - | -€7,600 | |
| Other amounts receivable | 41 | €2,021 | €847 | -€1,174 | -58.1% |
| Cash at bank and in hand | 54/58 | €2,273 | €1 | -€2,273 | -100.0% |
| Deferred charges and accrued income | 490/1 | - | €122 | +€122 | |
| Total equity and liabilities | 10/49 | €20,858 | €5,688 | -€15,171 | -72.7% |
| Equity | 10/15 | €14,354 | €4,652 | -€9,702 | -67.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,854 | -€848 | -€9,702 | |
| Amounts payable | 17/49 | €6,504 | €1,035 | -€5,469 | -84.1% |
| Amounts payable within one year | 42/48 | €6,504 | €1,035 | -€5,469 | -84.1% |
| Trade debts | 44 | €137 | - | -€137 | |
| Suppliers | 440/4 | €137 | - | -€137 | |
| Other amounts payable | 47/48 | €6,367 | €1,035 | -€5,332 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,061 | €4,245 | -€816 | -16.1% |
| Other operating charges | 640/8 | €398 | €128 | -€270 | -68.0% |
| Gross operating margin | 9900 | €14,907 | -€5,270 | -€20,177 | |
| Operating profit (loss) | 9901 | €9,447 | -€9,643 | -€19,090 | |
| Financial charges | 65/66B | €93 | €59 | -€34 | -36.6% |
| Recurring financial charges | 65 | €93 | €59 | -€34 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €9,354 | -€9,702 | -€19,056 | |
| Profit (loss) for the period | 9904 | €9,354 | -€9,702 | -€19,056 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,354 | -€9,702 | -€19,056 |
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 29 September 2026 via checked.be.