MGMT: 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.
MGMT
Largest movements
- Deferred charges and accrued income +€13,721
new in 2025: €13,721
- Receivables within one year -€7,522
down €7,522 (-70.4%), from €10,689 to €3,168
of which Trade receivables: -€5,974
- Tangible fixed assets -€877
down €877 (-3.9%), from €22,420 to €21,543
of which Furniture and vehicles: -€5,261
- Trade debts +€6,924
new in 2025: €6,924
- Reserves -€5,145
down €5,145 (-27.7%), from €18,581 to €13,436
- Short-term financial debts +€2,904
new in 2025: €2,904
- Other debts +€1,703
new in 2025: €1,703
- Tax, wage and social debts -€1,337
down €1,337 (-13.6%), from €9,801 to €8,464
- Gross operating margin -€26,402
down €26,402 (-84.8%), from €31,128 to €4,727
- Taxes -€4,792
down €4,792 (-95.0%), from €5,044 to €252
- Financial charges +€2,263
up €2,263 (+752.3%), from €301 to €2,564
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 | €33,382 | €38,432 | +€5,050 | +15.1% |
| Fixed assets | 21/28 | €22,420 | €21,543 | -€877 | -3.9% |
| Tangible fixed assets | 22/27 | €22,420 | €21,543 | -€877 | -3.9% |
| Plant, machinery and equipment | 23 | €1,813 | €6,197 | +€4,384 | +241.9% |
| Furniture and vehicles | 24 | €20,607 | €15,346 | -€5,261 | -25.5% |
| Current assets | 29/58 | €10,962 | €16,889 | +€5,927 | +54.1% |
| Amounts receivable within one year | 40/41 | €10,689 | €3,168 | -€7,522 | -70.4% |
| Trade receivables | 40 | €9,142 | €3,168 | -€5,974 | -65.3% |
| Other amounts receivable | 41 | €1,547 | €0 | -€1,547 | -100.0% |
| Cash at bank and in hand | 54/58 | €273 | €0 | -€273 | -100.0% |
| Deferred charges and accrued income | 490/1 | - | €13,721 | +€13,721 | |
| Total equity and liabilities | 10/49 | €33,382 | €38,432 | +€5,050 | +15.1% |
| Equity | 10/15 | €23,581 | €18,436 | -€5,145 | -21.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,581 | €13,436 | -€5,145 | -27.7% |
| Distributable reserves | 133 | €18,581 | €13,436 | -€5,145 | -27.7% |
| Amounts payable | 17/49 | €9,801 | €19,996 | +€10,194 | +104.0% |
| Amounts payable within one year | 42/48 | €9,801 | €19,996 | +€10,194 | +104.0% |
| Financial debts | 43 | - | €2,904 | +€2,904 | |
| Credit institutions | 430/8 | - | €2,904 | +€2,904 | |
| Trade debts | 44 | - | €6,924 | +€6,924 | |
| Suppliers | 440/4 | - | €6,924 | +€6,924 | |
| Taxes, remuneration and social security | 45 | €9,801 | €8,464 | -€1,337 | -13.6% |
| Taxes | 450/3 | €9,801 | €8,464 | -€1,337 | -13.6% |
| Other amounts payable | 47/48 | - | €1,703 | +€1,703 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,458 | €6,388 | -€70 | -1.1% |
| Other operating charges | 640/8 | €760 | €764 | +€4 | +0.5% |
| Gross operating margin | 9900 | €31,128 | €4,727 | -€26,402 | -84.8% |
| Operating profit (loss) | 9901 | €23,910 | -€2,426 | -€26,336 | |
| Financial income | 75/76B | €16 | €97 | +€81 | +508.8% |
| Recurring financial income | 75 | €16 | €97 | +€81 | +508.8% |
| Financial charges | 65/66B | €301 | €2,564 | +€2,263 | +752.3% |
| Recurring financial charges | 65 | €301 | €2,564 | +€2,263 | +752.3% |
| Profit (loss) for the period before taxes | 9903 | €23,625 | -€4,893 | -€28,518 | |
| Income taxes | 67/77 | €5,044 | €252 | -€4,792 | -95.0% |
| Profit (loss) for the period | 9904 | €18,581 | -€5,145 | -€23,726 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,581 | -€5,145 | -€23,726 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.