MRG ELEC: 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.
What changed
MRG ELEC
NACE 47.400, Retail sale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€42,764
2024 · €80,948-€38,184
Equity
€118,118
2024 · €126,300-€8,182
Cash
€90,759
2024 · €90,459+€300
Balance sheet total
€729,461
2024 · €511,272+€218,189
Largest movements
Assets
- Tangible fixed assets +€206,077
up €206,077 (+96.3%), from €214,059 to €420,136
of which Land and buildings: +€228,222
- Stocks and contracts +€9,540
up €9,540 (+7.3%), from €131,542 to €141,082
Equity and liabilities
- Debts after one year +€203,767
up €203,767 (+390.1%), from €52,236 to €256,003
- Advances received +€64,611
up €64,611 (+12922.2%), from €500 to €65,111
- Accrued charges and deferred income -€42,183
down €42,183 (-98.2%), from €42,962 to €779
- Trade debts -€31,831
down €31,831 (-22.1%), from €143,871 to €112,040
- Tax, wage and social debts +€17,003
up €17,003 (+49.8%), from €34,128 to €51,131
of which Remuneration and social security: +€16,471
Income statement
- Staff costs +€36,058
up €36,058 (+9.0%), from €400,390 to €436,448
- Taxes -€15,372
down €15,372 (-53.9%), from €28,514 to €13,142
- Gross operating margin -€8,683
down €8,683 (-1.6%), from €551,252 to €542,569
- Depreciation +€7,096
up €7,096 (+28.7%), from €24,706 to €31,802
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.
Result 2024
€80,948
Gross operating margin
-€8,683
Staff costs
-€36,058
Depreciation
-€7,096
Other operating charges
-€281
Other operating items
+€287
Financial income
-€309
Financial charges
-€1,416
Taxes
+€15,372
Result 2025
€42,764
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.
From operations
+€68,742
Investment
-€237,879
Financing
+€169,437
Cash 2024
€90,459
From operations (derived)
+€68,742
Net result for the year
+€42,764
Depreciation
+€31,802
Stocks and contracts
-€9,540
Receivables within one year
-€2,029
Deferred charges and accrued income
-€243
Trade debts
-€31,831
Tax, wage and social debts
+€17,003
Advances received
+€64,611
Other debts
-€1,612
Accrued charges and deferred income
-€42,183
Investment (derived)
-€237,879
Investment in fixed assets (net)
-€237,879
Financing
+€169,437
Debts after one year
+€203,767
Current portion of long-term debt
+€16,616
Contributions, distributions and other
-€50,946
Cash 2025
€90,759
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €511,272 | €729,461 | +€218,189 | +42.7% |
| Fixed assets | 21/28 | €214,259 | €420,336 | +€206,077 | +96.2% |
| Tangible fixed assets | 22/27 | €214,059 | €420,136 | +€206,077 | +96.3% |
| Land and buildings | 22 | €163,574 | €391,796 | +€228,222 | +139.5% |
| Plant, machinery and equipment | 23 | €33,381 | €21,949 | -€11,432 | -34.2% |
| Furniture and vehicles | 24 | €17,104 | €6,391 | -€10,713 | -62.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €297,013 | €309,125 | +€12,112 | +4.1% |
| Stocks and contracts in progress | 3 | €131,542 | €141,082 | +€9,540 | +7.3% |
| Stocks | 30/36 | €131,542 | €141,082 | +€9,540 | +7.3% |
| Amounts receivable within one year | 40/41 | €62,383 | €64,412 | +€2,029 | +3.3% |
| Trade receivables | 40 | €49,292 | €60,339 | +€11,047 | +22.4% |
| Other amounts receivable | 41 | €13,091 | €4,073 | -€9,018 | -68.9% |
| Cash at bank and in hand | 54/58 | €90,459 | €90,759 | +€300 | +0.3% |
| Deferred charges and accrued income | 490/1 | €12,629 | €12,872 | +€243 | +1.9% |
| Total equity and liabilities | 10/49 | €511,272 | €729,461 | +€218,189 | +42.7% |
| Equity | 10/15 | €126,300 | €118,118 | -€8,182 | -6.5% |
| Contributions | 10/11 | €18,300 | €18,300 | = | 0.0% |
| Reserves | 13 | €12,460 | €12,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,600 | €10,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,383 | €83,147 | -€7,236 | -8.0% |
| Investment grants | 15 | €5,157 | €4,211 | -€946 | -18.3% |
| Amounts payable | 17/49 | €384,972 | €611,343 | +€226,371 | +58.8% |
| Amounts payable after more than one year | 17 | €52,236 | €256,003 | +€203,767 | +390.1% |
| Financial debts | 170/4 | €52,236 | €256,003 | +€203,767 | +390.1% |
| Amounts payable within one year | 42/48 | €289,774 | €354,561 | +€64,787 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €24,663 | €41,279 | +€16,616 | +67.4% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €143,871 | €112,040 | -€31,831 | -22.1% |
| Suppliers | 440/4 | €143,871 | €112,040 | -€31,831 | -22.1% |
| Advances received on contracts in progress | 46 | €500 | €65,111 | +€64,611 | +12922.2% |
| Taxes, remuneration and social security | 45 | €34,128 | €51,131 | +€17,003 | +49.8% |
| Taxes | 450/3 | €1,929 | €2,461 | +€532 | +27.6% |
| Remuneration and social security | 454/9 | €32,199 | €48,670 | +€16,471 | +51.2% |
| Other amounts payable | 47/48 | €61,612 | €60,000 | -€1,612 | -2.6% |
| Accrued charges and deferred income | 492/3 | €42,962 | €779 | -€42,183 | -98.2% |
| Remuneration, social security and pensions | 62 | €400,390 | €436,448 | +€36,058 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,706 | €31,802 | +€7,096 | +28.7% |
| Other operating charges | 640/8 | €4,724 | €5,005 | +€281 | +5.9% |
| Non-recurring operating charges | 66A | €398 | €111 | -€287 | -72.1% |
| Gross operating margin | 9900 | €551,252 | €542,569 | -€8,683 | -1.6% |
| Operating profit (loss) | 9901 | €121,034 | €69,203 | -€51,831 | -42.8% |
| Financial income | 75/76B | €1,505 | €1,196 | -€309 | -20.5% |
| Recurring financial income | 75 | €1,505 | €1,196 | -€309 | -20.5% |
| Financial charges | 65/66B | €13,077 | €14,493 | +€1,416 | +10.8% |
| Recurring financial charges | 65 | €13,077 | €14,493 | +€1,416 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €109,462 | €55,906 | -€53,556 | -48.9% |
| Income taxes | 67/77 | €28,514 | €13,142 | -€15,372 | -53.9% |
| Profit (loss) for the period | 9904 | €80,948 | €42,764 | -€38,184 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,948 | €42,764 | -€38,184 | -47.2% |
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 6 October 2026 via checked.be.