MGM: 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.
MGM
Largest movements
- Receivables within one year -€13,983
no longer reported in 2025 (was €13,983)
- Cash +€9,925
up €9,925 (+14.0%), from €71,076 to €81,001
mainly Other debts (+€17,830) and Receivables within one year (+€13,983)
- Tangible fixed assets -€7,878
down €7,878 (-36.5%), from €21,580 to €13,701
of which Land and buildings: -€5,885
- Deferred charges and accrued income -€1,965
down €1,965 (-49.0%), from €4,012 to €2,047
- Profit (loss) carried forward -€31,847
down €31,847 (-137.4%), from -€23,185 to -€55,032
- Other debts +€17,830
up €17,830 (+8981.8%), from €199 to €18,028
- Gross operating margin -€34,075
down €34,075, from €10,220 to -€23,855
- Financial income +€2,739
new in 2025: €2,739
of which Non-recurring financial income: +€2,500
- Depreciation -€492
down €492 (-5.9%), from €8,371 to €7,878
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 | €110,820 | €96,919 | -€13,901 | -12.5% |
| Fixed assets | 21/28 | €21,749 | €13,871 | -€7,878 | -36.2% |
| Tangible fixed assets | 22/27 | €21,580 | €13,701 | -€7,878 | -36.5% |
| Land and buildings | 22 | €14,708 | €8,823 | -€5,885 | -40.0% |
| Plant, machinery and equipment | 23 | €2,598 | €1,986 | -€612 | -23.5% |
| Furniture and vehicles | 24 | €225 | - | -€225 | |
| Other tangible fixed assets | 26 | €4,049 | €2,892 | -€1,157 | -28.6% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €89,071 | €83,048 | -€6,023 | -6.8% |
| Amounts receivable within one year | 40/41 | €13,983 | - | -€13,983 | |
| Other amounts receivable | 41 | €13,983 | - | -€13,983 | |
| Cash at bank and in hand | 54/58 | €71,076 | €81,001 | +€9,925 | +14.0% |
| Deferred charges and accrued income | 490/1 | €4,012 | €2,047 | -€1,965 | -49.0% |
| Total equity and liabilities | 10/49 | €110,820 | €96,919 | -€13,901 | -12.5% |
| Equity | 10/15 | €109,481 | €77,634 | -€31,847 | -29.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €114,074 | €114,074 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,502 | €2,502 | = | 0.0% |
| Distributable reserves | 133 | €111,572 | €111,572 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,185 | -€55,032 | -€31,847 | -137.4% |
| Amounts payable | 17/49 | €1,339 | €19,285 | +€17,946 | +1339.9% |
| Amounts payable within one year | 42/48 | €1,339 | €19,285 | +€17,946 | +1339.9% |
| Trade debts | 44 | €1,141 | €857 | -€284 | -24.9% |
| Suppliers | 440/4 | €1,141 | €857 | -€284 | -24.9% |
| Taxes, remuneration and social security | 45 | - | €400 | +€400 | |
| Taxes | 450/3 | - | €400 | +€400 | |
| Other amounts payable | 47/48 | €199 | €18,028 | +€17,830 | +8981.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,371 | €7,878 | -€492 | -5.9% |
| Other operating charges | 640/8 | €2,302 | €2,153 | -€150 | -6.5% |
| Gross operating margin | 9900 | €10,220 | -€23,855 | -€34,075 | |
| Operating profit (loss) | 9901 | -€454 | -€33,886 | -€33,433 | -7369.6% |
| Financial income | 75/76B | - | €2,739 | +€2,739 | |
| Recurring financial income | 75 | - | €239 | +€239 | |
| Non-recurring financial income | 76B | - | €2,500 | +€2,500 | |
| Financial charges | 65/66B | €208 | €299 | +€92 | +44.2% |
| Recurring financial charges | 65 | €208 | €299 | +€92 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | -€661 | -€31,447 | -€30,786 | -4655.7% |
| Income taxes | 67/77 | €408 | €400 | -€8 | -2.0% |
| Profit (loss) for the period | 9904 | -€1,069 | -€31,847 | -€30,777 | -2878.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,069 | -€31,847 | -€30,777 | -2878.2% |
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 4 October 2026 via checked.be.