MGSVH MANAGEMENT: 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.
MGSVH MANAGEMENT
Largest movements
- Receivables within one year -€19,324
down €19,324 (-41.4%), from €46,641 to €27,316
of which Trade receivables: -€22,467
- Tangible fixed assets -€5,338
down €5,338 (-17.6%), from €30,392 to €25,054
of which Furniture and vehicles: -€4,909
- Cash +€1,453
up €1,453 (+250%), from €581 to €2,034
mainly Receivables within one year (+€19,324) and Net result for the year (+€8,347)
- Deferred charges and accrued income +€986
up €986 (+1,339%), from €74 to €1,059
- Trade debts -€24,134
down €24,134 (-77.1%), from €31,294 to €7,159
- Reserves +€8,347
up €8,347 (+87.0%), from €9,597 to €17,944
- Debts after one year -€5,635
down €5,635 (-31.7%), from €17,779 to €12,144
- Other debts -€1,655
down €1,655 (-41.3%), from €4,002 to €2,348
- Depreciation +€5,403
up €5,403 (+802%), from €673 to €6,076
- Financial charges +€1,957
up €1,957 (+239%), from €820 to €2,777
of which Financial charges: +€1,962
- Gross operating margin -€316
down €316 (-1.5%), from €21,539 to €21,224
- Other operating charges +€290
up €290 (+116%), from €250 to €540
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 | €77,687 | €55,464 | -€22,223 | -28.6% |
| Fixed assets | 21/28 | €30,392 | €25,054 | -€5,338 | -17.6% |
| Tangible fixed assets | 22/27 | €30,392 | €25,054 | -€5,338 | -17.6% |
| Furniture and vehicles | 24 | €26,333 | €21,424 | -€4,909 | -18.6% |
| Other tangible fixed assets | 26 | €4,059 | €3,630 | -€428 | -10.6% |
| Current assets | 29/58 | €47,295 | €30,410 | -€16,886 | -35.7% |
| Amounts receivable within one year | 40/41 | €46,641 | €27,316 | -€19,324 | -41.4% |
| Trade receivables | 40 | €43,313 | €20,847 | -€22,467 | -51.9% |
| Other amounts receivable | 41 | €3,327 | €6,470 | +€3,143 | +94.5% |
| Cash at bank and in hand | 54/58 | €581 | €2,034 | +€1,453 | +250% |
| Deferred charges and accrued income | 490/1 | €74 | €1,059 | +€986 | +1,339% |
| Total equity and liabilities | 10/49 | €77,687 | €55,464 | -€22,223 | -28.6% |
| Equity | 10/15 | €10,597 | €18,944 | +€8,347 | +78.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €9,597 | €17,944 | +€8,347 | +87.0% |
| Distributable reserves | 133 | €9,597 | €17,944 | +€8,347 | +87.0% |
| Amounts payable | 17/49 | €67,090 | €36,520 | -€30,570 | -45.6% |
| Amounts payable after more than one year | 17 | €17,779 | €12,144 | -€5,635 | -31.7% |
| Financial debts | 170/4 | €17,779 | €12,144 | -€5,635 | -31.7% |
| Amounts payable within one year | 42/48 | €49,311 | €24,376 | -€24,935 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €5,361 | €5,635 | +€273 | +5.1% |
| Trade debts | 44 | €31,294 | €7,159 | -€24,134 | -77.1% |
| Suppliers | 440/4 | €31,294 | €7,159 | -€24,134 | -77.1% |
| Taxes, remuneration and social security | 45 | €8,654 | €9,234 | +€580 | +6.7% |
| Taxes | 450/3 | €5,489 | €6,054 | +€565 | +10.3% |
| Remuneration and social security | 454/9 | €3,165 | €3,180 | +€15 | +0.5% |
| Other amounts payable | 47/48 | €4,002 | €2,348 | -€1,655 | -41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €673 | €6,076 | +€5,403 | +802% |
| Other operating charges | 640/8 | €250 | €540 | +€290 | +116% |
| Non-recurring operating charges | 66A | €9,984 | - | -€9,984 | |
| Gross operating margin | 9900 | €21,539 | €21,224 | -€316 | -1.5% |
| Operating profit (loss) | 9901 | €10,633 | €14,607 | +€3,975 | +37.4% |
| Financial income | 75/76B | €109 | €280 | +€170 | +156% |
| Recurring financial income | 75 | €109 | €280 | +€170 | +156% |
| Financial charges | 65/66B | €820 | €2,777 | +€1,957 | +239% |
| Recurring financial charges | 65 | €732 | €2,694 | +€1,962 | +268% |
| Non-recurring financial charges | 66B | €88 | €83 | -€5 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €9,922 | €12,110 | +€2,188 | +22.1% |
| Income taxes | 67/77 | €3,880 | €3,764 | -€116 | -3.0% |
| Profit (loss) for the period | 9904 | €6,042 | €8,347 | +€2,305 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,042 | €8,347 | +€2,305 | +38.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.