MPG: 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.
MPG
Largest movements
- Tangible fixed assets -€13,221
down €13,221 (-8.6%), from €153,851 to €140,630
- Debts after one year -€23,367
down €23,367 (-10.6%), from €220,428 to €197,061
- Profit (loss) carried forward +€14,306
no longer reported in 2025 (was -€14,306)
- Depreciation +€3,297
up €3,297 (+33.2%), from €9,924 to €13,221
- Financial charges -€2,363
down €2,363 (-15.7%), from €15,097 to €12,734
- Taxes +€697
up €697 (+15.9%), from €4,384 to €5,081
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 | €654,222 | €644,073 | -€10,148 | -1.6% |
| Fixed assets | 21/28 | €626,453 | €613,232 | -€13,221 | -2.1% |
| Tangible fixed assets | 22/27 | €153,851 | €140,630 | -€13,221 | -8.6% |
| Land and buildings | 22 | €153,851 | €140,630 | -€13,221 | -8.6% |
| Financial fixed assets | 28 | €472,602 | €472,602 | = | 0.0% |
| Current assets | 29/58 | €27,768 | €30,841 | +€3,073 | +11.1% |
| Amounts receivable within one year | 40/41 | €5,428 | €10,452 | +€5,025 | +92.6% |
| Trade receivables | 40 | €633 | €658 | +€25 | +3.9% |
| Other amounts receivable | 41 | €4,794 | €9,794 | +€5,000 | +104.3% |
| Cash at bank and in hand | 54/58 | €22,341 | €20,389 | -€1,952 | -8.7% |
| Total equity and liabilities | 10/49 | €654,222 | €644,073 | -€10,148 | -1.6% |
| Equity | 10/15 | €203,391 | €218,634 | +€15,243 | +7.5% |
| Contributions | 10/11 | €11,635 | €11,635 | = | 0.0% |
| Reserves | 13 | €206,062 | €206,999 | +€937 | +0.5% |
| Non-distributable reserves | 130/1 | €1,163 | €1,163 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,163 | €1,163 | = | 0.0% |
| Tax-exempt reserves | 132 | €134,080 | €134,080 | = | 0.0% |
| Distributable reserves | 133 | €70,819 | €71,756 | +€937 | +1.3% |
| Profit (loss) carried forward | 14 | -€14,306 | - | +€14,306 | |
| Amounts payable | 17/49 | €450,831 | €425,440 | -€25,391 | -5.6% |
| Amounts payable after more than one year | 17 | €220,428 | €197,061 | -€23,367 | -10.6% |
| Financial debts | 170/4 | €220,428 | €197,061 | -€23,367 | -10.6% |
| Amounts payable within one year | 42/48 | €228,425 | €226,401 | -€2,024 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €22,472 | €23,367 | +€895 | +4.0% |
| Taxes, remuneration and social security | 45 | - | €81 | +€81 | |
| Taxes | 450/3 | - | €81 | +€81 | |
| Other amounts payable | 47/48 | €205,953 | €202,953 | -€3,000 | -1.5% |
| Accrued charges and deferred income | 492/3 | €1,978 | €1,978 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,924 | €13,221 | +€3,297 | +33.2% |
| Other operating charges | 640/8 | €10,218 | €10,738 | +€521 | +5.1% |
| Gross operating margin | 9900 | €56,723 | €57,017 | +€293 | +0.5% |
| Operating profit (loss) | 9901 | €36,581 | €33,057 | -€3,524 | -9.6% |
| Financial charges | 65/66B | €15,097 | €12,734 | -€2,363 | -15.7% |
| Recurring financial charges | 65 | €15,097 | €12,734 | -€2,363 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €21,485 | €20,323 | -€1,161 | -5.4% |
| Income taxes | 67/77 | €4,384 | €5,081 | +€697 | +15.9% |
| Profit (loss) for the period | 9904 | €17,100 | €15,243 | -€1,858 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,100 | €15,243 | -€1,858 | -10.9% |
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 8 October 2026 via checked.be.