MGQM: 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.
MGQM
Largest movements
- Cash +€27,501
up €27,501 (+1,989%), from €1,382 to €28,883
mainly Net result for the year (+€22,772) and Depreciation (+€12,697)
- Receivables within one year +€16,191
up €16,191 (+72.5%), from €22,330 to €38,521
of which Other amounts receivable: +€21,429
- Tangible fixed assets +€9,863
up €9,863 (+34.2%), from €28,849 to €38,712
of which Leasing and similar rights: +€17,801
- Reserves +€22,772
new in 2025: €22,772
- Tax, wage and social debts +€9,367
up €9,367 (+131%), from €7,135 to €16,502
- Debts after one year +€8,178
up €8,178 (+50.0%), from €16,340 to €24,518
- Current portion of long-term debt +€5,202
up €5,202 (+98.6%), from €5,276 to €10,477
- Contributions +€5,000
new in 2025: €5,000
- Taxes +€2,232
up €2,232 (+31.3%), from €7,135 to €9,367
- Other operating charges -€2,006
down €2,006 (-55.0%), from €3,643 to €1,638
- Financial income +€853
up €853 (+165%), from €518 to €1,371
- Financial charges +€851
up €851 (+66.4%), from €1,282 to €2,133
- Gross operating margin -€829
down €829 (-1.7%), from €48,065 to €47,235
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 | €52,561 | €106,117 | +€53,555 | +102% |
| Fixed assets | 21/28 | €28,849 | €38,712 | +€9,863 | +34.2% |
| Tangible fixed assets | 22/27 | €28,849 | €38,712 | +€9,863 | +34.2% |
| Furniture and vehicles | 24 | €28,849 | €20,911 | -€7,938 | -27.5% |
| Leasing and similar rights | 25 | - | €17,801 | +€17,801 | |
| Current assets | 29/58 | €23,713 | €67,405 | +€43,692 | +184% |
| Amounts receivable within one year | 40/41 | €22,330 | €38,521 | +€16,191 | +72.5% |
| Trade receivables | 40 | €5,238 | - | -€5,238 | |
| Other amounts receivable | 41 | €17,093 | €38,521 | +€21,429 | +125% |
| Cash at bank and in hand | 54/58 | €1,382 | €28,883 | +€27,501 | +1,989% |
| Total equity and liabilities | 10/49 | €52,561 | €106,117 | +€53,555 | +102% |
| Equity | 10/15 | €23,811 | €51,583 | +€27,772 | +117% |
| Contributions | 10/11 | - | €5,000 | +€5,000 | |
| Reserves | 13 | - | €22,772 | +€22,772 | |
| Distributable reserves | 133 | - | €22,772 | +€22,772 | |
| Profit (loss) carried forward | 14 | €23,811 | €23,811 | +€0 | 0.0% |
| Amounts payable | 17/49 | €28,751 | €54,534 | +€25,783 | +89.7% |
| Amounts payable after more than one year | 17 | €16,340 | €24,518 | +€8,178 | +50.0% |
| Financial debts | 170/4 | €16,340 | €24,518 | +€8,178 | +50.0% |
| Amounts payable within one year | 42/48 | €12,411 | €30,016 | +€17,605 | +142% |
| Current portion of amounts payable after more than one year | 42 | €5,276 | €10,477 | +€5,202 | +98.6% |
| Trade debts | 44 | - | €3,037 | +€3,037 | |
| Suppliers | 440/4 | - | €3,037 | +€3,037 | |
| Taxes, remuneration and social security | 45 | €7,135 | €16,502 | +€9,367 | +131% |
| Taxes | 450/3 | €7,135 | €16,502 | +€9,367 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,712 | €12,697 | -€16 | -0.1% |
| Other operating charges | 640/8 | €3,643 | €1,638 | -€2,006 | -55.0% |
| Gross operating margin | 9900 | €48,065 | €47,235 | -€829 | -1.7% |
| Operating profit (loss) | 9901 | €31,709 | €32,901 | +€1,192 | +3.8% |
| Financial income | 75/76B | €518 | €1,371 | +€853 | +165% |
| Recurring financial income | 75 | €518 | €1,371 | +€853 | +165% |
| Financial charges | 65/66B | €1,282 | €2,133 | +€851 | +66.4% |
| Recurring financial charges | 65 | €1,282 | €2,133 | +€851 | +66.4% |
| Profit (loss) for the period before taxes | 9903 | €30,945 | €32,139 | +€1,194 | +3.9% |
| Income taxes | 67/77 | €7,135 | €9,367 | +€2,232 | +31.3% |
| Profit (loss) for the period | 9904 | €23,811 | €22,772 | -€1,038 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,811 | €22,772 | -€1,038 | -4.4% |
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 23 October 2026 via checked.be.