MGH 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.
MGH Consult
Largest movements
- Current investments +€104,100
up €104,100 (+745%), from €13,966 to €118,066
- Cash -€51,842
down €51,842 (-56.3%), from €92,000 to €40,158
mainly Current investments (-€104,100) and Deferred charges and accrued income (-€3,056)
- Receivables within one year -€4,457
down €4,457 (-13.8%), from €32,222 to €27,765
of which Other amounts receivable: -€6,126
- Deferred charges and accrued income +€3,056
up €3,056, from €0 to €3,056
- Reserves +€44,094
up €44,094 (+59.0%), from €74,750 to €118,844
- Other debts +€5,630
up €5,630 (+168%), from €3,350 to €8,981
- Trade debts +€2,238
up €2,238 (+119%), from €1,875 to €4,113
- Taxes -€2,118
down €2,118 (-10.3%), from €20,666 to €18,548
- Gross operating margin +€1,305
up €1,305 (+1.9%), from €67,627 to €68,933
- Depreciation +€1,170
up €1,170 (+116%), from €1,005 to €2,175
- Financial charges -€824
down €824 (-21.0%), from €3,923 to €3,099
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 | €147,049 | €197,632 | +€50,582 | +34.4% |
| Fixed assets | 21/28 | €8,862 | €8,587 | -€275 | -3.1% |
| Tangible fixed assets | 22/27 | €8,862 | €8,587 | -€275 | -3.1% |
| Furniture and vehicles | 24 | €5,707 | €6,202 | +€495 | +8.7% |
| Other tangible fixed assets | 26 | €3,155 | €2,385 | -€770 | -24.4% |
| Current assets | 29/58 | €138,188 | €189,045 | +€50,857 | +36.8% |
| Amounts receivable within one year | 40/41 | €32,222 | €27,765 | -€4,457 | -13.8% |
| Trade receivables | 40 | €0 | €1,668 | +€1,668 | |
| Other amounts receivable | 41 | €32,222 | €26,097 | -€6,126 | -19.0% |
| Current investments | 50/53 | €13,966 | €118,066 | +€104,100 | +745% |
| Cash at bank and in hand | 54/58 | €92,000 | €40,158 | -€51,842 | -56.3% |
| Deferred charges and accrued income | 490/1 | €0 | €3,056 | +€3,056 | |
| Total equity and liabilities | 10/49 | €147,049 | €197,632 | +€50,582 | +34.4% |
| Equity | 10/15 | €128,203 | €171,457 | +€43,254 | +33.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €74,750 | €118,844 | +€44,094 | +59.0% |
| Distributable reserves | 133 | €74,750 | €118,844 | +€44,094 | +59.0% |
| Profit (loss) carried forward | 14 | €47,153 | €46,313 | -€840 | -1.8% |
| Amounts payable | 17/49 | €18,847 | €26,175 | +€7,328 | +38.9% |
| Amounts payable within one year | 42/48 | €18,197 | €26,175 | +€7,978 | +43.8% |
| Trade debts | 44 | €1,875 | €4,113 | +€2,238 | +119% |
| Suppliers | 440/4 | €1,875 | €4,113 | +€2,238 | +119% |
| Taxes, remuneration and social security | 45 | €12,972 | €13,082 | +€110 | +0.8% |
| Taxes | 450/3 | €12,972 | €13,082 | +€110 | +0.8% |
| Other amounts payable | 47/48 | €3,350 | €8,981 | +€5,630 | +168% |
| Accrued charges and deferred income | 492/3 | €650 | €0 | -€650 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,005 | €2,175 | +€1,170 | +116% |
| Other operating charges | 640/8 | €1,501 | €1,536 | +€35 | +2.3% |
| Gross operating margin | 9900 | €67,627 | €68,933 | +€1,305 | +1.9% |
| Operating profit (loss) | 9901 | €65,121 | €65,222 | +€101 | +0.2% |
| Financial income | 75/76B | €510 | €519 | +€9 | +1.7% |
| Recurring financial income | 75 | €510 | €519 | +€9 | +1.7% |
| Financial charges | 65/66B | €3,923 | €3,099 | -€824 | -21.0% |
| Recurring financial charges | 65 | €3,923 | €3,099 | -€824 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €61,708 | €62,642 | +€933 | +1.5% |
| Income taxes | 67/77 | €20,666 | €18,548 | -€2,118 | -10.3% |
| Profit (loss) for the period | 9904 | €41,042 | €44,094 | +€3,052 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,042 | €44,094 | +€3,052 | +7.4% |
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.