MGR: 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.
MGR
Largest movements
- Cash +€187,364
up €187,364 (+377.5%), from €49,639 to €237,002
mainly Current investments (+€110,179) and Net result for the year (+€106,574)
- Current investments -€110,179
down €110,179 (-100.0%), from €110,179 to €0
- Profit (loss) carried forward +€71,574
up €71,574 (+13770.6%), from €520 to €72,094
- Other debts +€19,177
up €19,177 (+26.2%), from €73,100 to €92,277
- Trade debts -€6,244
down €6,244 (-52.3%), from €11,929 to €5,686
- Short-term financial debts -€5,000
down €5,000 (-100.0%), from €5,000 to €0
- Gross operating margin +€15,988
up €15,988 (+12.7%), from €126,185 to €142,173
- Depreciation -€7,564
down €7,564 (-87.4%), from €8,656 to €1,092
- Taxes +€3,981
up €3,981 (+14.6%), from €27,341 to €31,323
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 | €244,435 | €322,038 | +€77,603 | +31.7% |
| Fixed assets | 21/28 | €2,000 | €2,620 | +€620 | +31.0% |
| Tangible fixed assets | 22/27 | €2,000 | €2,620 | +€620 | +31.0% |
| Plant, machinery and equipment | 23 | €1,178 | €783 | -€395 | -33.5% |
| Furniture and vehicles | 24 | €822 | €1,837 | +€1,015 | +123.5% |
| Current assets | 29/58 | €242,435 | €319,418 | +€76,983 | +31.8% |
| Stocks and contracts in progress | 3 | €55,250 | €55,250 | = | 0.0% |
| Stocks | 30/36 | €55,250 | €55,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,481 | €23,169 | -€312 | -1.3% |
| Trade receivables | 40 | €22,545 | €22,973 | +€428 | +1.9% |
| Other amounts receivable | 41 | €936 | €196 | -€740 | -79.0% |
| Current investments | 50/53 | €110,179 | €0 | -€110,179 | -100.0% |
| Cash at bank and in hand | 54/58 | €49,639 | €237,002 | +€187,364 | +377.5% |
| Deferred charges and accrued income | 490/1 | €3,887 | €3,997 | +€110 | +2.8% |
| Total equity and liabilities | 10/49 | €244,435 | €322,038 | +€77,603 | +31.7% |
| Equity | 10/15 | €128,610 | €200,184 | +€71,574 | +55.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €127,090 | €127,090 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | - | -€100 | |
| Other | 1319 | €100 | - | -€100 | |
| Distributable reserves | 133 | €126,990 | €127,090 | +€100 | +0.1% |
| Profit (loss) carried forward | 14 | €520 | €72,094 | +€71,574 | +13770.6% |
| Amounts payable | 17/49 | €115,825 | €121,854 | +€6,029 | +5.2% |
| Amounts payable within one year | 42/48 | €115,825 | €121,854 | +€6,029 | +5.2% |
| Financial debts | 43 | €5,000 | €0 | -€5,000 | -100.0% |
| Other loans | 439 | €5,000 | €0 | -€5,000 | -100.0% |
| Trade debts | 44 | €11,929 | €5,686 | -€6,244 | -52.3% |
| Suppliers | 440/4 | €11,929 | €5,686 | -€6,244 | -52.3% |
| Taxes, remuneration and social security | 45 | €25,796 | €23,892 | -€1,904 | -7.4% |
| Taxes | 450/3 | €25,796 | €23,892 | -€1,904 | -7.4% |
| Other amounts payable | 47/48 | €73,100 | €92,277 | +€19,177 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,656 | €1,092 | -€7,564 | -87.4% |
| Other operating charges | 640/8 | €2,249 | €1,163 | -€1,086 | -48.3% |
| Gross operating margin | 9900 | €126,185 | €142,173 | +€15,988 | +12.7% |
| Operating profit (loss) | 9901 | €115,280 | €139,917 | +€24,638 | +21.4% |
| Financial income | 75/76B | €270 | €984 | +€714 | +264.8% |
| Recurring financial income | 75 | €270 | €984 | +€714 | +264.8% |
| Financial charges | 65/66B | €1,825 | €3,005 | +€1,180 | +64.6% |
| Recurring financial charges | 65 | €1,825 | €3,005 | +€1,180 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €113,724 | €137,897 | +€24,172 | +21.3% |
| Income taxes | 67/77 | €27,341 | €31,323 | +€3,981 | +14.6% |
| Profit (loss) for the period | 9904 | €86,383 | €106,574 | +€20,191 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,383 | €106,574 | +€20,191 | +23.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.