MNGB: 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.
MNGB
Largest movements
- Cash -€94,013
down €94,013 (-65.6%), from €143,396 to €49,383
mainly Other debts (-€155,792) and Receivables within one year (-€46,328)
- Receivables within one year +€46,328
up €46,328 (+94.7%), from €48,918 to €95,246
of which Trade receivables: +€51,271
- Current investments +€20,473
new in 2025: €20,473
- Tangible fixed assets -€9,096
down €9,096 (-25.9%), from €35,086 to €25,991
- Deferred charges and accrued income -€2,881
down €2,881 (-46.9%), from €6,148 to €3,267
- Other debts -€155,792
down €155,792 (-76.1%), from €204,598 to €48,806
- Trade debts +€57,904
up €57,904 (+11783.0%), from €491 to €58,396
- Profit (loss) carried forward +€51,824
up €51,824, from €0 to €51,824
- Short-term financial debts +€6,770
new in 2025: €6,770
- Gross operating margin -€48,113
down €48,113 (-36.7%), from €131,259 to €83,145
- Taxes -€2,880
down €2,880 (-11.7%), from €24,655 to €21,775
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 | €233,648 | €194,459 | -€39,189 | -16.8% |
| Fixed assets | 21/28 | €35,186 | €26,091 | -€9,096 | -25.8% |
| Intangible fixed assets | 21 | €100 | €100 | = | 0.0% |
| Tangible fixed assets | 22/27 | €35,086 | €25,991 | -€9,096 | -25.9% |
| Furniture and vehicles | 24 | €35,086 | €25,991 | -€9,096 | -25.9% |
| Current assets | 29/58 | €198,462 | €168,369 | -€30,093 | -15.2% |
| Amounts receivable within one year | 40/41 | €48,918 | €95,246 | +€46,328 | +94.7% |
| Trade receivables | 40 | €43,560 | €94,831 | +€51,271 | +117.7% |
| Other amounts receivable | 41 | €5,358 | €415 | -€4,943 | -92.3% |
| Current investments | 50/53 | - | €20,473 | +€20,473 | |
| Cash at bank and in hand | 54/58 | €143,396 | €49,383 | -€94,013 | -65.6% |
| Deferred charges and accrued income | 490/1 | €6,148 | €3,267 | -€2,881 | -46.9% |
| Total equity and liabilities | 10/49 | €233,648 | €194,459 | -€39,189 | -16.8% |
| Equity | 10/15 | €20,591 | €72,416 | +€51,824 | +251.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,991 | €1,991 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,991 | €1,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €51,824 | +€51,824 | |
| Amounts payable | 17/49 | €213,057 | €122,044 | -€91,013 | -42.7% |
| Amounts payable within one year | 42/48 | €213,057 | €122,044 | -€91,013 | -42.7% |
| Financial debts | 43 | - | €6,770 | +€6,770 | |
| Other loans | 439 | - | €6,770 | +€6,770 | |
| Trade debts | 44 | €491 | €58,396 | +€57,904 | +11783.0% |
| Suppliers | 440/4 | €491 | €58,396 | +€57,904 | +11783.0% |
| Taxes, remuneration and social security | 45 | €7,967 | €8,072 | +€105 | +1.3% |
| Taxes | 450/3 | €7,967 | €8,072 | +€105 | +1.3% |
| Other amounts payable | 47/48 | €204,598 | €48,806 | -€155,792 | -76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,096 | €9,096 | = | 0.0% |
| Other operating charges | 640/8 | €755 | €549 | -€205 | -27.2% |
| Gross operating margin | 9900 | €131,259 | €83,145 | -€48,113 | -36.7% |
| Operating profit (loss) | 9901 | €121,409 | €73,501 | -€47,908 | -39.5% |
| Financial income | 75/76B | €48 | €637 | +€589 | +1228.1% |
| Recurring financial income | 75 | €48 | €637 | +€589 | +1228.1% |
| Financial charges | 65/66B | €98 | €539 | +€441 | +449.0% |
| Recurring financial charges | 65 | €98 | €539 | +€441 | +449.0% |
| Profit (loss) for the period before taxes | 9903 | €121,359 | €73,599 | -€47,759 | -39.4% |
| Income taxes | 67/77 | €24,655 | €21,775 | -€2,880 | -11.7% |
| Profit (loss) for the period | 9904 | €96,704 | €51,824 | -€44,879 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,704 | €51,824 | -€44,879 | -46.4% |
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 4 October 2026 via checked.be.