MQG: what changed
What changed
MQG
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€3,474
2024 · -€3,091-€383
Equity
-€8,562
2024 · -€5,088-€3,474
Cash
€2,085
2024 · €1,673+€412
Balance sheet total
€156,553
2024 · €165,343-€8,789
Largest movements
Assets
- Tangible fixed assets -€9,210
down €9,210 (-5.7%), from €162,997 to €153,787
Equity and liabilities
- Debts after one year -€6,176
down €6,176 (-4.6%), from €134,088 to €127,912
of which Financial debts: -€6,191
- Profit (loss) carried forward -€3,474
down €3,474 (-9.9%), from -€35,088 to -€38,562
Income statement
- Other operating charges +€414
up €414 (+65.4%), from €632 to €1,046
- Financial charges -€199
down €199 (-4.6%), from €4,291 to €4,092
- Gross operating margin -€135
down €135 (-1.2%), from €11,010 to €10,875
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
-€3,091
Gross operating margin
-€135
Depreciation
-€33
Other operating charges
-€414
Financial charges
+€199
Result 2025
-€3,474
raises the resultlowers the result
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
+€6,412
Investment
€0
Financing
-€6,000
Cash 2024
€1,673
From operations (derived)
+€6,412
Net result for the year
-€3,474
Depreciation
+€9,210
Smaller working-capital items
+€11
Other debts
+€600
Accrued charges and deferred income
+€65
Financing
-€6,000
Debts after one year
-€6,176
Current portion of long-term debt
+€176
Cash 2025
€2,085
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,343 | €156,553 | -€8,789 | -5.3% |
| Fixed assets | 21/28 | €162,997 | €153,787 | -€9,210 | -5.7% |
| Tangible fixed assets | 22/27 | €162,997 | €153,787 | -€9,210 | -5.7% |
| Land and buildings | 22 | €162,997 | €153,787 | -€9,210 | -5.7% |
| Current assets | 29/58 | €2,346 | €2,767 | +€421 | +18.0% |
| Cash at bank and in hand | 54/58 | €1,673 | €2,085 | +€412 | +24.7% |
| Deferred charges and accrued income | 490/1 | €673 | €682 | +€9 | +1.3% |
| Total equity and liabilities | 10/49 | €165,343 | €156,553 | -€8,789 | -5.3% |
| Equity | 10/15 | -€5,088 | -€8,562 | -€3,474 | -68.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,088 | -€38,562 | -€3,474 | -9.9% |
| Amounts payable | 17/49 | €170,430 | €165,115 | -€5,315 | -3.1% |
| Amounts payable after more than one year | 17 | €134,088 | €127,912 | -€6,176 | -4.6% |
| Financial debts | 170/4 | €130,608 | €124,417 | -€6,191 | -4.7% |
| Other amounts payable | 178/9 | €3,480 | €3,495 | +€15 | +0.4% |
| Amounts payable within one year | 42/48 | €36,173 | €36,968 | +€796 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €6,015 | €6,191 | +€176 | +2.9% |
| Trade debts | 44 | €632 | €652 | +€20 | +3.1% |
| Suppliers | 440/4 | €632 | €652 | +€20 | +3.1% |
| Other amounts payable | 47/48 | €29,525 | €30,125 | +€600 | +2.0% |
| Accrued charges and deferred income | 492/3 | €170 | €235 | +€65 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,177 | €9,210 | +€33 | +0.4% |
| Other operating charges | 640/8 | €632 | €1,046 | +€414 | +65.4% |
| Gross operating margin | 9900 | €11,010 | €10,875 | -€135 | -1.2% |
| Operating profit (loss) | 9901 | €1,201 | €618 | -€582 | -48.5% |
| Financial charges | 65/66B | €4,291 | €4,092 | -€199 | -4.6% |
| Recurring financial charges | 65 | €4,291 | €4,092 | -€199 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,091 | -€3,474 | -€383 | -12.4% |
| Profit (loss) for the period | 9904 | -€3,091 | -€3,474 | -€383 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,091 | -€3,474 | -€383 | -12.4% |
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.