MGTA: 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.
MGTA
Largest movements
- Cash -€20,996
down €20,996 (-22.8%), from €92,289 to €71,293
mainly Contributions, distributions and other (-€177,744) and Tax, wage and social debts (-€22,640)
- Receivables within one year +€6,122
up €6,122 (+37.1%), from €16,481 to €22,602
of which Other amounts receivable: +€8,640
- Other debts +€92,105
new in 2025: €92,105
- Profit (loss) carried forward -€85,639
no longer reported in 2025 (was €85,639)
- Tax, wage and social debts -€22,640
no longer reported in 2025 (was €22,640)
- Gross operating margin +€15,870
up €15,870 (+14.5%), from €109,812 to €125,682
- Taxes +€9,089
up €9,089 (+40.1%), from €22,640 to €31,729
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 | €110,306 | €94,633 | -€15,673 | -14.2% |
| Fixed assets | 21/28 | €1,536 | €738 | -€798 | -52.0% |
| Tangible fixed assets | 22/27 | €1,536 | €738 | -€798 | -52.0% |
| Furniture and vehicles | 24 | €1,536 | €738 | -€798 | -52.0% |
| Current assets | 29/58 | €108,770 | €93,895 | -€14,875 | -13.7% |
| Amounts receivable within one year | 40/41 | €16,481 | €22,602 | +€6,122 | +37.1% |
| Trade receivables | 40 | €14,826 | €12,308 | -€2,518 | -17.0% |
| Other amounts receivable | 41 | €1,655 | €10,294 | +€8,640 | +522.1% |
| Cash at bank and in hand | 54/58 | €92,289 | €71,293 | -€20,996 | -22.8% |
| Total equity and liabilities | 10/49 | €110,306 | €94,633 | -€15,673 | -14.2% |
| Equity | 10/15 | €87,639 | €2,000 | -€85,639 | -97.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,639 | - | -€85,639 | |
| Amounts payable | 17/49 | €22,668 | €92,633 | +€69,966 | +308.7% |
| Amounts payable within one year | 42/48 | €22,668 | €92,633 | +€69,966 | +308.7% |
| Trade debts | 44 | €28 | €528 | +€500 | +1768.6% |
| Suppliers | 440/4 | €28 | €528 | +€500 | +1768.6% |
| Taxes, remuneration and social security | 45 | €22,640 | - | -€22,640 | |
| Taxes | 450/3 | €22,640 | - | -€22,640 | |
| Other amounts payable | 47/48 | - | €92,105 | +€92,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €912 | €798 | -€113 | -12.4% |
| Other operating charges | 640/8 | €476 | €852 | +€376 | +78.9% |
| Gross operating margin | 9900 | €109,812 | €125,682 | +€15,870 | +14.5% |
| Operating profit (loss) | 9901 | €108,424 | €124,031 | +€15,607 | +14.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €147 | €197 | +€51 | +34.5% |
| Recurring financial charges | 65 | €147 | €197 | +€51 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €108,278 | €123,834 | +€15,556 | +14.4% |
| Income taxes | 67/77 | €22,640 | €31,729 | +€9,089 | +40.1% |
| Profit (loss) for the period | 9904 | €85,639 | €92,105 | +€6,466 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,639 | €92,105 | +€6,466 | +7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.