MGS & ASSOCIATES: 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.
MGS & ASSOCIATES
Largest movements
- Cash -€6,421
down €6,421 (-12.9%), from €49,675 to €43,255
mainly Trade debts (-€6,029) and Other debts (-€2,088)
- Receivables within one year -€1,085
down €1,085 (-5.4%), from €20,246 to €19,161
of which Other amounts receivable: -€1,998
- Deferred charges and accrued income +€982
up €982 (+43.3%), from €2,270 to €3,252
- Trade debts -€6,029
down €6,029 (-32.8%), from €18,386 to €12,357
- Other debts -€2,088
down €2,088 (-10.0%), from €20,788 to €18,700
- Tax, wage and social debts +€778
up €778 (+17.7%), from €4,393 to €5,171
of which Taxes: +€620
- Staff costs -€22,725
down €22,725 (-43.3%), from €52,460 to €29,735
- Financial charges +€22,637
up €22,637 (+20,412%), from €111 to €22,748
- Gross operating margin +€5,006
up €5,006 (+10.3%), from €48,699 to €53,705
- Financial income -€2,578
down €2,578 (-43.5%), from €5,924 to €3,346
- Other operating charges +€1,767
new in 2025: €1,767
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 | €72,995 | €65,919 | -€7,076 | -9.7% |
| Fixed assets | 21/28 | €803 | €251 | -€552 | -68.7% |
| Tangible fixed assets | 22/27 | €653 | €101 | -€552 | -84.5% |
| Plant, machinery and equipment | 23 | €653 | €101 | -€552 | -84.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €72,192 | €65,667 | -€6,524 | -9.0% |
| Amounts receivable within one year | 40/41 | €20,246 | €19,161 | -€1,085 | -5.4% |
| Trade receivables | 40 | €15,884 | €16,797 | +€913 | +5.7% |
| Other amounts receivable | 41 | €4,362 | €2,364 | -€1,998 | -45.8% |
| Cash at bank and in hand | 54/58 | €49,675 | €43,255 | -€6,421 | -12.9% |
| Deferred charges and accrued income | 490/1 | €2,270 | €3,252 | +€982 | +43.3% |
| Total equity and liabilities | 10/49 | €72,995 | €65,919 | -€7,076 | -9.7% |
| Equity | 10/15 | €29,427 | €29,690 | +€263 | +0.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,427 | €19,690 | +€263 | +1.4% |
| Amounts payable | 17/49 | €43,568 | €36,229 | -€7,339 | -16.8% |
| Amounts payable within one year | 42/48 | €43,568 | €36,229 | -€7,339 | -16.8% |
| Trade debts | 44 | €18,386 | €12,357 | -€6,029 | -32.8% |
| Suppliers | 440/4 | €18,386 | €12,357 | -€6,029 | -32.8% |
| Taxes, remuneration and social security | 45 | €4,393 | €5,171 | +€778 | +17.7% |
| Taxes | 450/3 | €1,318 | €1,938 | +€620 | +47.1% |
| Remuneration and social security | 454/9 | €3,075 | €3,233 | +€158 | +5.1% |
| Other amounts payable | 47/48 | €20,788 | €18,700 | -€2,088 | -10.0% |
| Remuneration, social security and pensions | 62 | €52,460 | €29,735 | -€22,725 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €552 | €552 | = | 0.0% |
| Other operating charges | 640/8 | - | €1,767 | +€1,767 | |
| Gross operating margin | 9900 | €48,699 | €53,705 | +€5,006 | +10.3% |
| Operating profit (loss) | 9901 | -€4,313 | €21,651 | +€25,964 | |
| Financial income | 75/76B | €5,924 | €3,346 | -€2,578 | -43.5% |
| Recurring financial income | 75 | €5,924 | €3,346 | -€2,578 | -43.5% |
| Financial charges | 65/66B | €111 | €22,748 | +€22,637 | +20,412% |
| Recurring financial charges | 65 | €111 | €22,748 | +€22,637 | +20,412% |
| Profit (loss) for the period before taxes | 9903 | €1,501 | €2,249 | +€748 | +49.9% |
| Income taxes | 67/77 | €1,360 | €1,986 | +€626 | +46.0% |
| Profit (loss) for the period | 9904 | €140 | €263 | +€122 | +87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €140 | €263 | +€122 | +87.2% |
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.