MGMD: 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.
MGMD
Largest movements
- Cash -€18,921
down €18,921 (-50.1%), from €37,774 to €18,853
mainly Net result for the year (-€18,338) and Trade debts (-€1,051)
- Receivables within one year +€858
up €858 (+36.5%), from €2,351 to €3,210
- Profit (loss) carried forward -€18,338
down €18,338 (-85.9%), from €21,339 to €3,002
- Other debts +€1,326
up €1,326 (+16.6%), from €8,013 to €9,339
- Trade debts -€1,051
down €1,051 (-43.0%), from €2,443 to €1,392
- Gross operating margin -€32,395
down €32,395, from €14,780 to -€17,615
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 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Current assets | 29/58 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Amounts receivable within one year | 40/41 | €2,351 | €3,210 | +€858 | +36.5% |
| Other amounts receivable | 41 | €2,351 | €3,210 | +€858 | +36.5% |
| Cash at bank and in hand | 54/58 | €37,774 | €18,853 | -€18,921 | -50.1% |
| Total equity and liabilities | 10/49 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Equity | 10/15 | €29,399 | €11,062 | -€18,338 | -62.4% |
| 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 | €21,339 | €3,002 | -€18,338 | -85.9% |
| Amounts payable | 17/49 | €10,727 | €11,002 | +€275 | +2.6% |
| Amounts payable within one year | 42/48 | €10,727 | €11,002 | +€275 | +2.6% |
| Trade debts | 44 | €2,443 | €1,392 | -€1,051 | -43.0% |
| Suppliers | 440/4 | €2,443 | €1,392 | -€1,051 | -43.0% |
| Taxes, remuneration and social security | 45 | €271 | €271 | = | 0.0% |
| Taxes | 450/3 | €271 | €271 | = | 0.0% |
| Other amounts payable | 47/48 | €8,013 | €9,339 | +€1,326 | +16.6% |
| Other operating charges | 640/8 | €662 | €680 | +€17 | +2.6% |
| Gross operating margin | 9900 | €14,780 | -€17,615 | -€32,395 | |
| Operating profit (loss) | 9901 | €14,118 | -€18,295 | -€32,413 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +90.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +90.0% |
| Financial charges | 65/66B | €97 | €43 | -€54 | -55.6% |
| Recurring financial charges | 65 | €97 | €43 | -€54 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €14,021 | -€18,338 | -€32,359 | |
| Profit (loss) for the period | 9904 | €14,021 | -€18,338 | -€32,359 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,021 | -€18,338 | -€32,359 |
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 18 October 2026 via checked.be.