MGM CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets +€103,563
up €103,563 (+2047.9%), from €5,057 to €108,620
of which Land and buildings: +€90,075
- Receivables within one year +€73,760
up €73,760 (+81.4%), from €90,665 to €164,425
of which Other amounts receivable: +€70,301
- Cash +€31,221
up €31,221 (+108.0%), from €28,905 to €60,125
mainly Debts after one year (+€76,279) and Net result for the year (+€73,404)
- Financial fixed assets -€8,140
down €8,140 (-46.4%), from €17,555 to €9,415
- Debts after one year +€76,279
new in 2025: €76,279
- Reserves +€73,404
up €73,404 (+61.9%), from €118,618 to €192,022
- Trade debts +€29,311
up €29,311 (+128.7%), from €22,781 to €52,091
- Short-term financial debts +€10,000
new in 2025: €10,000
- Tax, wage and social debts +€8,266
up €8,266 (+22.3%), from €36,998 to €45,265
- Gross operating margin +€32,972
up €32,972 (+41.6%), from €79,345 to €112,317
- Other operating charges +€7,653
up €7,653 (+502.7%), from €1,522 to €9,176
- Financial income +€5,382
up €5,382, from €0 to €5,382
- Depreciation +€5,112
up €5,112 (+355.3%), from €1,439 to €6,551
- Taxes -€4,687
down €4,687 (-17.9%), from €26,195 to €21,507
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 | €189,797 | €392,191 | +€202,394 | +106.6% |
| Fixed assets | 21/28 | €22,612 | €118,035 | +€95,423 | +422.0% |
| Tangible fixed assets | 22/27 | €5,057 | €108,620 | +€103,563 | +2047.9% |
| Land and buildings | 22 | - | €90,075 | +€90,075 | |
| Plant, machinery and equipment | 23 | €360 | €0 | -€360 | -100.0% |
| Furniture and vehicles | 24 | €4,697 | €18,545 | +€13,848 | +294.8% |
| Financial fixed assets | 28 | €17,555 | €9,415 | -€8,140 | -46.4% |
| Current assets | 29/58 | €167,185 | €274,156 | +€106,972 | +64.0% |
| Amounts receivable after more than one year | 29 | €45,200 | €45,200 | = | 0.0% |
| Other amounts receivable | 291 | €45,200 | €45,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €90,665 | €164,425 | +€73,760 | +81.4% |
| Trade receivables | 40 | €68,884 | €72,343 | +€3,458 | +5.0% |
| Other amounts receivable | 41 | €21,781 | €92,082 | +€70,301 | +322.8% |
| Cash at bank and in hand | 54/58 | €28,905 | €60,125 | +€31,221 | +108.0% |
| Deferred charges and accrued income | 490/1 | €2,415 | €4,406 | +€1,991 | +82.5% |
| Total equity and liabilities | 10/49 | €189,797 | €392,191 | +€202,394 | +106.6% |
| Equity | 10/15 | €123,618 | €197,022 | +€73,404 | +59.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,618 | €192,022 | +€73,404 | +61.9% |
| Distributable reserves | 133 | €118,618 | €192,022 | +€73,404 | +61.9% |
| Amounts payable | 17/49 | €66,179 | €195,169 | +€128,990 | +194.9% |
| Amounts payable after more than one year | 17 | - | €76,279 | +€76,279 | |
| Financial debts | 170/4 | - | €76,279 | +€76,279 | |
| Amounts payable within one year | 42/48 | €64,779 | €117,835 | +€53,056 | +81.9% |
| Current portion of amounts payable after more than one year | 42 | - | €2,649 | +€2,649 | |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €22,781 | €52,091 | +€29,311 | +128.7% |
| Suppliers | 440/4 | €22,781 | €52,091 | +€29,311 | +128.7% |
| Advances received on contracts in progress | 46 | - | €6,050 | +€6,050 | |
| Taxes, remuneration and social security | 45 | €36,998 | €45,265 | +€8,266 | +22.3% |
| Taxes | 450/3 | €36,998 | €45,265 | +€8,266 | +22.3% |
| Other amounts payable | 47/48 | €5,000 | €1,780 | -€3,220 | -64.4% |
| Accrued charges and deferred income | 492/3 | €1,400 | €1,055 | -€345 | -24.6% |
| Non-recurring operating income | 76A | €3,982 | €0 | -€3,982 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,439 | €6,551 | +€5,112 | +355.3% |
| Other operating charges | 640/8 | €1,522 | €9,176 | +€7,653 | +502.7% |
| Gross operating margin | 9900 | €79,345 | €112,317 | +€32,972 | +41.6% |
| Operating profit (loss) | 9901 | €76,384 | €96,590 | +€20,206 | +26.5% |
| Financial income | 75/76B | €0 | €5,382 | +€5,382 | |
| Recurring financial income | 75 | €0 | €5,382 | +€5,382 | |
| Financial charges | 65/66B | €2,799 | €7,061 | +€4,262 | +152.2% |
| Recurring financial charges | 65 | €2,799 | €7,061 | +€4,262 | +152.2% |
| Profit (loss) for the period before taxes | 9903 | €73,584 | €94,911 | +€21,327 | +29.0% |
| Income taxes | 67/77 | €26,195 | €21,507 | -€4,687 | -17.9% |
| Profit (loss) for the period | 9904 | €47,390 | €73,404 | +€26,014 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,390 | €73,404 | +€26,014 | +54.9% |
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 5 October 2026 via checked.be.