MPG HOLDING: what changed
What changed
MPG HOLDING
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€642,091
2024 · -€13,403-€628,689
Equity
€2.3m
2024 · €3.0m-€642,091
Cash
€14,743
2024 · €6,032+€8,711
Balance sheet total
€6.0m
2024 · €3.0m+€3.0m
Largest movements
Assets
- Tangible fixed assets +€1.3m
new in 2025: €1.3m
of which Plant, machinery and equipment: +€1.2m
- Receivables within one year +€1.2m
up €1.2m (+83.7%), from €1.5m to €2.7m
of which Other amounts receivable: +€1.1m
- Stocks and contracts +€443,365
new in 2025: €443,365
Equity and liabilities
- Other debts +€1.3m
new in 2025: €1.3m
- Trade debts +€1.3m
up €1.3m (+16,390%), from €7,775 to €1.3m
- Profit (loss) carried forward -€642,091
down €642,091 (-4,791%), from -€13,403 to -€655,494
- Short-term financial debts +€500,000
new in 2025: €500,000
- Debts after one year +€446,865
new in 2025: €446,865
Income statement
- Staff costs +€252,397
new in 2025: €252,397
- Gross operating margin -€213,471
down €213,471 (-1,605%), from -€13,303 to -€226,774
- Depreciation +€122,245
new in 2025: €122,245
- Financial charges +€25,567
new in 2025: €25,567
- Other operating charges +€15,062
new in 2025: €15,062
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€13,403
Gross operating margin
-€213,471
Staff costs
-€252,397
Depreciation
-€122,245
Other operating charges
-€15,062
Other operating items
+€100
Financial income
+€114
Financial charges
-€25,567
Taxes
-€160
Result 2025
-€642,091
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€441,973
Investment
-€1.4m
Financing
+€1.0m
Cash 2024
€6,032
From operations (derived)
+€441,973
Net result for the year
-€642,091
Depreciation
+€122,245
Stocks and contracts
-€443,365
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€4,439
Trade debts
+€1.3m
Tax, wage and social debts
+€40,608
Other debts
+€1.3m
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€1.0m
Debts after one year
+€446,865
Current portion of long-term debt
+€53,135
Short-term financial debts
+€500,000
Cash 2025
€14,743
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,994,372 | €5,995,265 | +€3.0m | +100% |
| Fixed assets | 21/28 | €1,500,000 | €2,811,016 | +€1.3m | +87.4% |
| Tangible fixed assets | 22/27 | - | €1,311,016 | +€1.3m | |
| Plant, machinery and equipment | 23 | - | €1,234,009 | +€1.2m | |
| Other tangible fixed assets | 26 | - | €77,007 | +€77,007 | |
| Financial fixed assets | 28 | €1,500,000 | €1,500,000 | = | 0.0% |
| Current assets | 29/58 | €1,494,372 | €3,184,249 | +€1.7m | +113% |
| Stocks and contracts in progress | 3 | - | €443,365 | +€443,365 | |
| Stocks | 30/36 | - | €443,365 | +€443,365 | |
| Amounts receivable within one year | 40/41 | €1,483,902 | €2,726,141 | +€1.2m | +83.7% |
| Trade receivables | 40 | - | €173,480 | +€173,480 | |
| Other amounts receivable | 41 | €1,483,902 | €2,552,661 | +€1.1m | +72.0% |
| Cash at bank and in hand | 54/58 | €6,032 | €14,743 | +€8,711 | +144% |
| Deferred charges and accrued income | 490/1 | €4,439 | - | -€4,439 | |
| Total equity and liabilities | 10/49 | €2,994,372 | €5,995,265 | +€3.0m | +100% |
| Equity | 10/15 | €2,986,597 | €2,344,506 | -€642,091 | -21.5% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,403 | -€655,494 | -€642,091 | -4,791% |
| Amounts payable | 17/49 | €7,775 | €3,650,759 | +€3.6m | +46,854% |
| Amounts payable after more than one year | 17 | - | €446,865 | +€446,865 | |
| Financial debts | 170/4 | - | €446,865 | +€446,865 | |
| Amounts payable within one year | 42/48 | €7,775 | €3,203,894 | +€3.2m | +41,107% |
| Current portion of amounts payable after more than one year | 42 | - | €53,135 | +€53,135 | |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €7,775 | €1,282,151 | +€1.3m | +16,390% |
| Suppliers | 440/4 | €7,775 | €1,282,151 | +€1.3m | +16,390% |
| Taxes, remuneration and social security | 45 | - | €40,608 | +€40,608 | |
| Taxes | 450/3 | - | €160 | +€160 | |
| Remuneration and social security | 454/9 | - | €40,448 | +€40,448 | |
| Other amounts payable | 47/48 | - | €1,328,000 | +€1.3m | |
| Remuneration, social security and pensions | 62 | - | €252,397 | +€252,397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €122,245 | +€122,245 | |
| Other operating charges | 640/8 | - | €15,062 | +€15,062 | |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | -€13,303 | -€226,774 | -€213,471 | -1,605% |
| Operating profit (loss) | 9901 | -€13,403 | -€616,479 | -€603,076 | -4,500% |
| Financial income | 75/76B | - | €114 | +€114 | |
| Recurring financial income | 75 | - | €114 | +€114 | |
| Financial charges | 65/66B | - | €25,567 | +€25,567 | |
| Recurring financial charges | 65 | - | €25,567 | +€25,567 | |
| Profit (loss) for the period before taxes | 9903 | -€13,403 | -€641,932 | -€628,529 | -4,689% |
| Income taxes | 67/77 | - | €160 | +€160 | |
| Profit (loss) for the period | 9904 | -€13,403 | -€642,091 | -€628,689 | -4,691% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,403 | -€642,091 | -€628,689 | -4,691% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.