MRGOLF: 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.
MRGOLF
Largest movements
- Cash -€13,281
down €13,281 (-47.3%), from €28,057 to €14,776
mainly Net result for the year (-€37,002) and Tax, wage and social debts (-€4,328)
- Receivables within one year -€10,352
down €10,352 (-7.4%), from €139,082 to €128,730
of which Other amounts receivable: -€14,709
- Tangible fixed assets -€2,996
down €2,996 (-9.8%), from €30,669 to €27,673
of which Plant, machinery and equipment: -€1,700
- Profit (loss) carried forward -€37,002
down €37,002 (-58.6%), from €63,177 to €26,175
- Other debts +€12,960
new in 2025: €12,960
- Tax, wage and social debts -€4,328
down €4,328 (-25.6%), from €16,906 to €12,579
of which Taxes: -€5,234
- Write-downs +€72,390
new in 2025: €72,390
- Staff costs -€15,520
down €15,520 (-60.3%), from €25,742 to €10,222
- Taxes -€5,626
down €5,626 (-99.6%), from €5,646 to €20
- Gross operating margin +€1,535
up €1,535 (+3.1%), from €49,953 to €51,488
- Other operating charges -€1,041
down €1,041 (-38.7%), from €2,690 to €1,649
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 | €199,111 | €172,545 | -€26,566 | -13.3% |
| Fixed assets | 21/28 | €31,444 | €28,448 | -€2,996 | -9.5% |
| Tangible fixed assets | 22/27 | €30,669 | €27,673 | -€2,996 | -9.8% |
| Plant, machinery and equipment | 23 | €7,279 | €5,579 | -€1,700 | -23.4% |
| Leasing and similar rights | 25 | €32 | €0 | -€32 | -100.0% |
| Other tangible fixed assets | 26 | €23,358 | €22,094 | -€1,264 | -5.4% |
| Financial fixed assets | 28 | €775 | €775 | = | 0.0% |
| Current assets | 29/58 | €167,667 | €144,097 | -€23,570 | -14.1% |
| Amounts receivable within one year | 40/41 | €139,082 | €128,730 | -€10,352 | -7.4% |
| Trade receivables | 40 | €7,715 | €12,071 | +€4,357 | +56.5% |
| Other amounts receivable | 41 | €131,367 | €116,659 | -€14,709 | -11.2% |
| Cash at bank and in hand | 54/58 | €28,057 | €14,776 | -€13,281 | -47.3% |
| Deferred charges and accrued income | 490/1 | €528 | €591 | +€63 | +12.0% |
| Total equity and liabilities | 10/49 | €199,111 | €172,545 | -€26,566 | -13.3% |
| Equity | 10/15 | €148,617 | €111,616 | -€37,002 | -24.9% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Reserves | 13 | €4,440 | €4,440 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €440 | €440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,177 | €26,175 | -€37,002 | -58.6% |
| Amounts payable | 17/49 | €50,494 | €60,929 | +€10,436 | +20.7% |
| Amounts payable within one year | 42/48 | €50,494 | €60,929 | +€10,436 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €33,587 | €35,391 | +€1,803 | +5.4% |
| Suppliers | 440/4 | €33,587 | €35,391 | +€1,803 | +5.4% |
| Taxes, remuneration and social security | 45 | €16,906 | €12,579 | -€4,328 | -25.6% |
| Taxes | 450/3 | €12,976 | €7,742 | -€5,234 | -40.3% |
| Remuneration and social security | 454/9 | €3,930 | €4,837 | +€906 | +23.1% |
| Other amounts payable | 47/48 | - | €12,960 | +€12,960 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €25,742 | €10,222 | -€15,520 | -60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,351 | €2,996 | -€355 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €72,390 | +€72,390 | |
| Other operating charges | 640/8 | €2,690 | €1,649 | -€1,041 | -38.7% |
| Gross operating margin | 9900 | €49,953 | €51,488 | +€1,535 | +3.1% |
| Operating profit (loss) | 9901 | €18,169 | -€35,769 | -€53,939 | |
| Financial income | 75/76B | €0 | €9 | +€9 | |
| Recurring financial income | 75 | €0 | €9 | +€9 | |
| Financial charges | 65/66B | €1,921 | €1,222 | -€699 | -36.4% |
| Recurring financial charges | 65 | €1,921 | €1,222 | -€699 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €16,249 | -€36,982 | -€53,230 | |
| Income taxes | 67/77 | €5,646 | €20 | -€5,626 | -99.6% |
| Profit (loss) for the period | 9904 | €10,603 | -€37,002 | -€47,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,603 | -€37,002 | -€47,605 |
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 3 October 2026 via checked.be.