MGI LOG: 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.
MGI LOG
Largest movements
- Cash -€80,580
down €80,580 (-22.5%), from €358,020 to €277,440
mainly Net result for the year (-€156,326) and Debts after one year (-€76,773)
- Profit (loss) carried forward -€156,326
down €156,326 (-9.2%), from -€1.7m to -€1.9m
- Other debts +€110,908
up €110,908 (+2.2%), from €5.1m to €5.2m
- Debts after one year -€76,773
no longer reported in 2025 (was €76,773)
- Gross operating margin -€41,677
down €41,677 (-21.4%), from €194,987 to €153,310
- Financial charges +€12,116
up €12,116 (+5.0%), from €241,128 to €253,244
- Taxes +€5,979
new in 2025: €5,979
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 | €5,427,187 | €5,306,415 | -€120,772 | -2.2% |
| Fixed assets | 21/28 | €5,068,966 | €5,028,975 | -€39,991 | -0.8% |
| Tangible fixed assets | 22/27 | €5,068,966 | €5,028,975 | -€39,991 | -0.8% |
| Land and buildings | 22 | €5,068,966 | €5,028,975 | -€39,991 | -0.8% |
| Current assets | 29/58 | €358,221 | €277,440 | -€80,781 | -22.6% |
| Amounts receivable within one year | 40/41 | €201 | - | -€201 | |
| Other amounts receivable | 41 | €201 | - | -€201 | |
| Cash at bank and in hand | 54/58 | €358,020 | €277,440 | -€80,580 | -22.5% |
| Total equity and liabilities | 10/49 | €5,427,187 | €5,306,415 | -€120,772 | -2.2% |
| Equity | 10/15 | €142,721 | -€13,605 | -€156,326 | |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €49,345 | €49,345 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,455 | €7,455 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,455 | €7,455 | = | 0.0% |
| Distributable reserves | 133 | €41,890 | €41,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,706,624 | -€1,862,950 | -€156,326 | -9.2% |
| Amounts payable | 17/49 | €5,284,466 | €5,320,020 | +€35,554 | +0.7% |
| Amounts payable after more than one year | 17 | €76,773 | - | -€76,773 | |
| Financial debts | 170/4 | €76,773 | - | -€76,773 | |
| Amounts payable within one year | 42/48 | €5,207,693 | €5,320,020 | +€112,327 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €83,820 | €76,773 | -€7,047 | -8.4% |
| Trade debts | 44 | €2,297 | €4,008 | +€1,711 | +74.5% |
| Suppliers | 440/4 | €2,297 | €4,008 | +€1,711 | +74.5% |
| Taxes, remuneration and social security | 45 | - | €6,755 | +€6,755 | |
| Taxes | 450/3 | - | €6,755 | +€6,755 | |
| Other amounts payable | 47/48 | €5,121,576 | €5,232,484 | +€110,908 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,991 | €39,991 | = | 0.0% |
| Other operating charges | 640/8 | €10,408 | €10,579 | +€171 | +1.6% |
| Gross operating margin | 9900 | €194,987 | €153,310 | -€41,677 | -21.4% |
| Operating profit (loss) | 9901 | €144,588 | €102,740 | -€41,848 | -28.9% |
| Financial income | 75/76B | - | €156 | +€156 | |
| Recurring financial income | 75 | - | €156 | +€156 | |
| Financial charges | 65/66B | €241,128 | €253,244 | +€12,116 | +5.0% |
| Recurring financial charges | 65 | €241,128 | €253,244 | +€12,116 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | -€96,539 | -€150,348 | -€53,808 | -55.7% |
| Income taxes | 67/77 | - | €5,979 | +€5,979 | |
| Profit (loss) for the period | 9904 | -€96,539 | -€156,326 | -€59,787 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,539 | -€156,326 | -€59,787 | -61.9% |
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 8 October 2026 via checked.be.