MGO ADVICE: 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.
MGO ADVICE
Largest movements
- Cash -€7,388
down €7,388 (-26.6%), from €27,789 to €20,401
mainly Contributions, distributions and other (-€39,265) and Tax, wage and social debts (-€18,022)
- Receivables within one year -€5,520
down €5,520 (-92.2%), from €5,987 to €468
of which Trade receivables: -€5,864
- Other debts +€35,128
up €35,128 (+180%), from €19,551 to €54,678
- Profit (loss) carried forward -€18,111
down €18,111 (-91.9%), from €19,709 to €1,599
- Tax, wage and social debts -€18,022
down €18,022 (-75.1%), from €23,986 to €5,964
of which Taxes: -€18,022
- Debts after one year -€12,475
down €12,475 (-18.4%), from €67,783 to €55,308
- Financial charges +€23,865
up €23,865 (+379%), from €6,300 to €30,165
- Provisions -€22,774
down €22,774, from €22,689 to -€84
- Gross operating margin +€21,694
up €21,694 (+55.0%), from €39,431 to €61,126
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 | €167,755 | €154,257 | -€13,498 | -8.0% |
| Fixed assets | 21/28 | €133,939 | €133,246 | -€693 | -0.5% |
| Tangible fixed assets | 22/27 | €1,639 | €946 | -€693 | -42.3% |
| Furniture and vehicles | 24 | €1,639 | €946 | -€693 | -42.3% |
| Financial fixed assets | 28 | €132,300 | €132,300 | = | 0.0% |
| Current assets | 29/58 | €33,816 | €21,011 | -€12,806 | -37.9% |
| Amounts receivable within one year | 40/41 | €5,987 | €468 | -€5,520 | -92.2% |
| Trade receivables | 40 | €5,864 | €0 | -€5,864 | -100% |
| Other amounts receivable | 41 | €123 | €468 | +€344 | +279% |
| Cash at bank and in hand | 54/58 | €27,789 | €20,401 | -€7,388 | -26.6% |
| Deferred charges and accrued income | 490/1 | €40 | €142 | +€102 | +253% |
| Total equity and liabilities | 10/49 | €167,755 | €154,257 | -€13,498 | -8.0% |
| Equity | 10/15 | €21,209 | €3,099 | -€18,111 | -85.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,709 | €1,599 | -€18,111 | -91.9% |
| Provisions and deferred taxes | 16 | €22,689 | €22,605 | -€84 | -0.4% |
| Provisions for liabilities and charges | 160/5 | €22,689 | €22,605 | -€84 | -0.4% |
| Other liabilities and charges | 164/5 | €22,689 | €22,605 | -€84 | -0.4% |
| Amounts payable | 17/49 | €123,857 | €128,554 | +€4,697 | +3.8% |
| Amounts payable after more than one year | 17 | €67,783 | €55,308 | -€12,475 | -18.4% |
| Financial debts | 170/4 | €67,783 | €55,308 | -€12,475 | -18.4% |
| Amounts payable within one year | 42/48 | €55,986 | €73,158 | +€17,172 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €11,977 | €12,475 | +€498 | +4.2% |
| Financial debts | 43 | €415 | €0 | -€415 | -100% |
| Credit institutions | 430/8 | €415 | €0 | -€415 | -100% |
| Trade debts | 44 | €58 | €41 | -€17 | -29.4% |
| Suppliers | 440/4 | €58 | €41 | -€17 | -29.4% |
| Taxes, remuneration and social security | 45 | €23,986 | €5,964 | -€18,022 | -75.1% |
| Taxes | 450/3 | €23,986 | €5,964 | -€18,022 | -75.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,551 | €54,678 | +€35,128 | +180% |
| Accrued charges and deferred income | 492/3 | €88 | €88 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €693 | +€280 | +67.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €22,689 | -€84 | -€22,774 | |
| Other operating charges | 640/8 | €190 | €529 | +€339 | +178% |
| Gross operating margin | 9900 | €39,431 | €61,126 | +€21,694 | +55.0% |
| Operating profit (loss) | 9901 | €16,139 | €59,988 | +€43,850 | +272% |
| Financial income | 75/76B | €184 | €102 | -€82 | -44.7% |
| Recurring financial income | 75 | €184 | €102 | -€82 | -44.7% |
| Financial charges | 65/66B | €6,300 | €30,165 | +€23,865 | +379% |
| Recurring financial charges | 65 | €6,300 | €30,165 | +€23,865 | +379% |
| Profit (loss) for the period before taxes | 9903 | €10,023 | €29,925 | +€19,902 | +199% |
| Income taxes | 67/77 | €8,956 | €8,771 | -€185 | -2.1% |
| Profit (loss) for the period | 9904 | €1,067 | €21,154 | +€20,087 | +1,882% |
| Profit (loss) for the period to be appropriated | 9905 | €1,067 | €21,154 | +€20,087 | +1,882% |
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.