MGM PROJECT: 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 PROJECT
Largest movements
- Receivables within one year -€17,402
down €17,402 (-17.0%), from €102,265 to €84,863
of which Other amounts receivable: -€20,943
- Cash +€3,643
new in 2024: €3,643
- Deferred charges and accrued income +€3,129
up €3,129 (+865%), from €361 to €3,490
- Tangible fixed assets +€1,820
up €1,820 (+184%), from €991 to €2,811
of which Furniture and vehicles: +€2,018
- Financial fixed assets +€1,250
up €1,250 (+152%), from €825 to €2,075
- Profit (loss) carried forward -€14,661
down €14,661 (-94.2%), from €15,564 to €903
- Other debts +€10,510
up €10,510 (+2,682%), from €392 to €10,902
- Tax, wage and social debts -€3,970
down €3,970 (-46.8%), from €8,484 to €4,513
of which Remuneration and social security: -€4,331
- Trade debts -€3,312
down €3,312 (-4.6%), from €71,420 to €68,109
- Short-term financial debts +€2,782
up €2,782 (+172%), from €1,613 to €4,395
- Financial charges -€6,401
down €6,401 (-94.4%), from €6,781 to €380
- Gross operating margin -€2,929
down €2,929 (-26.1%), from €11,213 to €8,284
- Depreciation +€2,313
up €2,313 (+839%), from €276 to €2,588
- Other operating charges -€656
down €656 (-76.0%), from €863 to €207
- Taxes -€496
down €496 (-34.7%), from €1,427 to €931
From the 2021 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,533 | €96,882 | -€8,651 | -8.2% |
| Fixed assets | 21/28 | €2,907 | €4,886 | +€1,979 | +68.1% |
| Intangible fixed assets | 21 | €1,091 | - | -€1,091 | |
| Tangible fixed assets | 22/27 | €991 | €2,811 | +€1,820 | +184% |
| Plant, machinery and equipment | 23 | €991 | €793 | -€198 | -20.0% |
| Furniture and vehicles | 24 | - | €2,018 | +€2,018 | |
| Financial fixed assets | 28 | €825 | €2,075 | +€1,250 | +152% |
| Current assets | 29/58 | €102,626 | €91,996 | -€10,630 | -10.4% |
| Amounts receivable within one year | 40/41 | €102,265 | €84,863 | -€17,402 | -17.0% |
| Trade receivables | 40 | €76,210 | €79,751 | +€3,542 | +4.6% |
| Other amounts receivable | 41 | €26,055 | €5,112 | -€20,943 | -80.4% |
| Cash at bank and in hand | 54/58 | - | €3,643 | +€3,643 | |
| Deferred charges and accrued income | 490/1 | €361 | €3,490 | +€3,129 | +865% |
| Total equity and liabilities | 10/49 | €105,533 | €96,882 | -€8,651 | -8.2% |
| Equity | 10/15 | €23,624 | €8,963 | -€14,661 | -62.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,564 | €903 | -€14,661 | -94.2% |
| Amounts payable | 17/49 | €81,909 | €87,919 | +€6,010 | +7.3% |
| Amounts payable within one year | 42/48 | €81,909 | €87,919 | +€6,010 | +7.3% |
| Financial debts | 43 | €1,613 | €4,395 | +€2,782 | +172% |
| Credit institutions | 430/8 | €1,613 | €4,395 | +€2,782 | +172% |
| Trade debts | 44 | €71,420 | €68,109 | -€3,312 | -4.6% |
| Suppliers | 440/4 | €71,420 | €68,109 | -€3,312 | -4.6% |
| Taxes, remuneration and social security | 45 | €8,484 | €4,513 | -€3,970 | -46.8% |
| Taxes | 450/3 | €4,153 | €4,513 | +€361 | +8.7% |
| Remuneration and social security | 454/9 | €4,331 | - | -€4,331 | |
| Other amounts payable | 47/48 | €392 | €10,902 | +€10,510 | +2,682% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276 | €2,588 | +€2,313 | +839% |
| Other operating charges | 640/8 | €863 | €207 | -€656 | -76.0% |
| Gross operating margin | 9900 | €11,213 | €8,284 | -€2,929 | -26.1% |
| Operating profit (loss) | 9901 | €10,074 | €5,488 | -€4,586 | -45.5% |
| Financial income | 75/76B | €3 | €2 | -€1 | -23.2% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -23.2% |
| Financial charges | 65/66B | €6,781 | €380 | -€6,401 | -94.4% |
| Recurring financial charges | 65 | €6,781 | €380 | -€6,401 | -94.4% |
| Profit (loss) for the period before taxes | 9903 | €3,296 | €5,110 | +€1,814 | +55.1% |
| Income taxes | 67/77 | €1,427 | €931 | -€496 | -34.7% |
| Profit (loss) for the period | 9904 | €1,869 | €4,179 | +€2,310 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €1,869 | €4,179 | +€2,310 | +124% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.