MGM CONSTRUCT BELGIUM: 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.
MGM CONSTRUCT BELGIUM
Largest movements
- Receivables within one year +€118,775
up €118,775 (+84.3%), from €140,884 to €259,659
of which Trade receivables: +€104,730
- Tangible fixed assets -€4,407
down €4,407 (-42.0%), from €10,480 to €6,073
of which Leasing and similar rights: -€5,417
- Trade debts +€96,365
up €96,365 (+86.9%), from €110,840 to €207,204
- Profit (loss) carried forward +€20,848
up €20,848 (+47.5%), from €43,921 to €64,769
- Advances received +€5,849
up €5,849 (+115%), from €5,101 to €10,950
- Debts after one year -€4,779
no longer reported in 2025 (was €4,779)
- Gross operating margin +€7,871
up €7,871 (+36.7%), from €21,451 to €29,322
- Taxes -€7,173
no longer reported in 2025 (was €7,173)
- Financial charges +€1,036
up €1,036 (+160%), from €646 to €1,682
- Financial income +€637
up €637 (+2,355%), from €27 to €664
- Depreciation +€391
up €391 (+6.1%), from €6,417 to €6,808
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 | €173,571 | €289,802 | +€116,231 | +67.0% |
| Fixed assets | 21/28 | €10,480 | €6,073 | -€4,407 | -42.0% |
| Tangible fixed assets | 22/27 | €10,480 | €6,073 | -€4,407 | -42.0% |
| Furniture and vehicles | 24 | €1,000 | €2,010 | +€1,010 | +101% |
| Leasing and similar rights | 25 | €9,480 | €4,063 | -€5,417 | -57.1% |
| Current assets | 29/58 | €163,091 | €283,729 | +€120,638 | +74.0% |
| Stocks and contracts in progress | 3 | €21,570 | €21,570 | = | 0.0% |
| Stocks | 30/36 | €21,570 | €21,570 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €140,884 | €259,659 | +€118,775 | +84.3% |
| Trade receivables | 40 | €127,967 | €232,697 | +€104,730 | +81.8% |
| Other amounts receivable | 41 | €12,917 | €26,963 | +€14,045 | +109% |
| Cash at bank and in hand | 54/58 | €637 | €2,500 | +€1,863 | +292% |
| Total equity and liabilities | 10/49 | €173,571 | €289,802 | +€116,231 | +67.0% |
| Equity | 10/15 | €46,021 | €66,869 | +€20,848 | +45.3% |
| Contributions | 10/11 | €2,100 | €2,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,921 | €64,769 | +€20,848 | +47.5% |
| Amounts payable | 17/49 | €127,549 | €222,933 | +€95,383 | +74.8% |
| Amounts payable after more than one year | 17 | €4,779 | - | -€4,779 | |
| Financial debts | 170/4 | €4,779 | - | -€4,779 | |
| Amounts payable within one year | 42/48 | €122,771 | €222,933 | +€100,162 | +81.6% |
| Current portion of amounts payable after more than one year | 42 | €4,446 | €4,779 | +€333 | +7.5% |
| Trade debts | 44 | €110,840 | €207,204 | +€96,365 | +86.9% |
| Suppliers | 440/4 | €110,840 | €207,204 | +€96,365 | +86.9% |
| Advances received on contracts in progress | 46 | €5,101 | €10,950 | +€5,849 | +115% |
| Taxes, remuneration and social security | 45 | €2,384 | - | -€2,384 | |
| Taxes | 450/3 | €868 | - | -€868 | |
| Remuneration and social security | 454/9 | €1,517 | - | -€1,517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,417 | €6,808 | +€391 | +6.1% |
| Other operating charges | 640/8 | €421 | €648 | +€227 | +53.9% |
| Gross operating margin | 9900 | €21,451 | €29,322 | +€7,871 | +36.7% |
| Operating profit (loss) | 9901 | €14,613 | €21,866 | +€7,253 | +49.6% |
| Financial income | 75/76B | €27 | €664 | +€637 | +2,355% |
| Recurring financial income | 75 | €27 | €664 | +€637 | +2,355% |
| Financial charges | 65/66B | €646 | €1,682 | +€1,036 | +160% |
| Recurring financial charges | 65 | €646 | €1,682 | +€1,036 | +160% |
| Profit (loss) for the period before taxes | 9903 | €13,994 | €20,848 | +€6,854 | +49.0% |
| Income taxes | 67/77 | €7,173 | - | -€7,173 | |
| Profit (loss) for the period | 9904 | €6,821 | €20,848 | +€14,027 | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €6,821 | €20,848 | +€14,027 | +206% |
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 19 October 2026 via checked.be.