MLG: 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.
MLG
Largest movements
- Tangible fixed assets +€19,804
new in 2025: €19,804
- Financial fixed assets +€4,128
new in 2025: €4,128
- Receivables within one year -€1,669
down €1,669 (-68.9%), from €2,423 to €754
of which Trade receivables: -€1,596
- Deferred charges and accrued income -€415
no longer reported in 2025 (was €415)
- Other debts +€47,161
up €47,161 (+536%), from €8,801 to €55,962
- Profit (loss) carried forward -€30,961
down €30,961 (-111%), from -€27,865 to -€58,826
- Accrued charges and deferred income +€7,017
up €7,017 (+206%), from €3,407 to €10,424
- Trade debts -€1,745
no longer reported in 2025 (was €1,745)
- Tax, wage and social debts +€374
new in 2025: €374
- Depreciation +€4,617
new in 2025: €4,617
- Gross operating margin +€1,348
up €1,348 (+5.0%), from -€26,932 to -€25,584
- Other operating charges -€718
down €718 (-78.2%), from €918 to €200
- Taxes +€374
new in 2025: €374
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 | €11,088 | €32,935 | +€21,847 | +197% |
| Fixed assets | 21/28 | - | €23,932 | +€23,932 | |
| Tangible fixed assets | 22/27 | - | €19,804 | +€19,804 | |
| Furniture and vehicles | 24 | - | €19,804 | +€19,804 | |
| Financial fixed assets | 28 | - | €4,128 | +€4,128 | |
| Current assets | 29/58 | €11,088 | €9,003 | -€2,085 | -18.8% |
| Stocks and contracts in progress | 3 | €8,247 | €8,247 | = | 0.0% |
| Stocks | 30/36 | €8,247 | €8,247 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,423 | €754 | -€1,669 | -68.9% |
| Trade receivables | 40 | €1,596 | - | -€1,596 | |
| Other amounts receivable | 41 | €826 | €754 | -€73 | -8.8% |
| Cash at bank and in hand | 54/58 | €3 | €2 | -€1 | -17.7% |
| Deferred charges and accrued income | 490/1 | €415 | - | -€415 | |
| Total equity and liabilities | 10/49 | €11,088 | €32,935 | +€21,847 | +197% |
| Equity | 10/15 | -€2,865 | -€33,826 | -€30,961 | -1,081% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,865 | -€58,826 | -€30,961 | -111% |
| Amounts payable | 17/49 | €13,953 | €66,761 | +€52,808 | +378% |
| Amounts payable within one year | 42/48 | €10,546 | €56,337 | +€45,791 | +434% |
| Trade debts | 44 | €1,745 | - | -€1,745 | |
| Suppliers | 440/4 | €1,745 | - | -€1,745 | |
| Taxes, remuneration and social security | 45 | - | €374 | +€374 | |
| Taxes | 450/3 | - | €374 | +€374 | |
| Other amounts payable | 47/48 | €8,801 | €55,962 | +€47,161 | +536% |
| Accrued charges and deferred income | 492/3 | €3,407 | €10,424 | +€7,017 | +206% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,617 | +€4,617 | |
| Other operating charges | 640/8 | €918 | €200 | -€718 | -78.2% |
| Gross operating margin | 9900 | -€26,932 | -€25,584 | +€1,348 | +5.0% |
| Operating profit (loss) | 9901 | -€27,850 | -€30,401 | -€2,550 | -9.2% |
| Financial charges | 65/66B | €15 | €185 | +€170 | +1,136% |
| Recurring financial charges | 65 | €15 | €185 | +€170 | +1,136% |
| Profit (loss) for the period before taxes | 9903 | -€27,865 | -€30,586 | -€2,721 | -9.8% |
| Income taxes | 67/77 | - | €374 | +€374 | |
| Profit (loss) for the period | 9904 | -€27,865 | -€30,961 | -€3,095 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,865 | -€30,961 | -€3,095 | -11.1% |
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 13 October 2026 via checked.be.