MgM PROJECTS: 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 PROJECTS
Largest movements
- Financial fixed assets +€240,000
new in 2025: €240,000
- Cash +€28,619
up €28,619 (+112%), from €25,609 to €54,228
mainly Debts after one year (+€105,219) and Other debts (+€71,914)
- Receivables within one year -€4,000
down €4,000 (-100%), from €4,000 to €0
- Debts after one year +€105,219
new in 2025: €105,219
- Other debts +€71,914
up €71,914 (+7,283%), from €987 to €72,901
- Reserves +€43,676
up €43,676 (+265%), from €16,455 to €60,131
- Current portion of long-term debt +€34,293
new in 2025: €34,293
- Tax, wage and social debts +€10,878
up €10,878 (+165%), from €6,586 to €17,464
of which Taxes: +€9,028
- Gross operating margin +€44,099
up €44,099 (+207%), from €21,302 to €65,402
- Taxes +€11,398
up €11,398 (+250%), from €4,568 to €15,966
- Financial charges +€4,867
up €4,867 (+4,737%), from €103 to €4,970
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 | €30,860 | €296,640 | +€265,780 | +861% |
| Fixed assets | 21/28 | €1,251 | €240,987 | +€239,736 | +19,159% |
| Tangible fixed assets | 22/27 | €1,251 | €987 | -€264 | -21.1% |
| Plant, machinery and equipment | 23 | €1,251 | €987 | -€264 | -21.1% |
| Financial fixed assets | 28 | - | €240,000 | +€240,000 | |
| Current assets | 29/58 | €29,609 | €55,653 | +€26,044 | +88.0% |
| Amounts receivable within one year | 40/41 | €4,000 | €0 | -€4,000 | -100% |
| Other amounts receivable | 41 | €4,000 | €0 | -€4,000 | -100% |
| Cash at bank and in hand | 54/58 | €25,609 | €54,228 | +€28,619 | +112% |
| Deferred charges and accrued income | 490/1 | - | €1,425 | +€1,425 | |
| Total equity and liabilities | 10/49 | €30,860 | €296,640 | +€265,780 | +861% |
| Equity | 10/15 | €21,455 | €65,131 | +€43,676 | +204% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,455 | €60,131 | +€43,676 | +265% |
| Distributable reserves | 133 | €16,455 | €60,131 | +€43,676 | +265% |
| Amounts payable | 17/49 | €9,406 | €231,510 | +€222,104 | +2,361% |
| Amounts payable after more than one year | 17 | - | €105,219 | +€105,219 | |
| Financial debts | 170/4 | - | €105,219 | +€105,219 | |
| Amounts payable within one year | 42/48 | €9,406 | €126,291 | +€116,885 | +1,243% |
| Current portion of amounts payable after more than one year | 42 | - | €34,293 | +€34,293 | |
| Trade debts | 44 | €1,832 | €1,632 | -€200 | -10.9% |
| Suppliers | 440/4 | €1,832 | €1,632 | -€200 | -10.9% |
| Taxes, remuneration and social security | 45 | €6,586 | €17,464 | +€10,878 | +165% |
| Taxes | 450/3 | €6,586 | €15,614 | +€9,028 | +137% |
| Remuneration and social security | 454/9 | - | €1,850 | +€1,850 | |
| Other amounts payable | 47/48 | €987 | €72,901 | +€71,914 | +7,283% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71 | €264 | +€193 | +272% |
| Other operating charges | 640/8 | €106 | €525 | +€419 | +395% |
| Gross operating margin | 9900 | €21,302 | €65,402 | +€44,099 | +207% |
| Operating profit (loss) | 9901 | €21,125 | €64,612 | +€43,487 | +206% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €103 | €4,970 | +€4,867 | +4,737% |
| Recurring financial charges | 65 | €103 | €4,970 | +€4,867 | +4,737% |
| Profit (loss) for the period before taxes | 9903 | €21,023 | €59,642 | +€38,619 | +184% |
| Income taxes | 67/77 | €4,568 | €15,966 | +€11,398 | +250% |
| Profit (loss) for the period | 9904 | €16,455 | €43,676 | +€27,221 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €16,455 | €43,676 | +€27,221 | +165% |
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 14 October 2026 via checked.be.