MT GGI: what changed
Two financial 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.
MT GGI
Largest movements
- Tangible fixed assets +€50,728
up €50,728 (+512%), from €9,914 to €60,642
- Cash +€17,181
up €17,181 (+317%), from €5,416 to €22,597
mainly Debts after one year (+€39,330) and Trade debts (+€28,311)
- Receivables within one year -€11,274
down €11,274 (-47.7%), from €23,652 to €12,378
of which Trade receivables: -€23,370
- Debts after one year +€39,330
new in 2025: €39,330
- Trade debts +€28,311
up €28,311 (+223%), from €12,703 to €41,013
- Profit (loss) carried forward -€17,772
down €17,772 (-47.8%), from €37,183 to €19,411
- Short-term financial debts -€11,885
no longer reported in 2025 (was €11,885)
- Other debts +€10,696
up €10,696 (+95.1%), from €11,252 to €21,947
- Gross operating margin -€46,521
down €46,521 (-79.2%), from €58,730 to €12,208
- Depreciation +€5,638
up €5,638 (+126%), from €4,475 to €10,113
- Taxes -€4,580
no longer reported in 2025 (was €4,580)
- Financial charges +€1,383
up €1,383 (+45.1%), from €3,067 to €4,450
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.
Derived cash bridge
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 | €105,106 | €161,214 | +€56,107 | +53.4% |
| Fixed assets | 21/28 | €9,914 | €60,642 | +€50,728 | +512% |
| Tangible fixed assets | 22/27 | €9,914 | €60,642 | +€50,728 | +512% |
| Furniture and vehicles | 24 | €9,914 | €60,642 | +€50,728 | +512% |
| Current assets | 29/58 | €95,192 | €100,571 | +€5,379 | +5.7% |
| Stocks and contracts in progress | 3 | €65,596 | €65,596 | = | 0.0% |
| Stocks | 30/36 | €65,596 | €65,596 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,652 | €12,378 | -€11,274 | -47.7% |
| Trade receivables | 40 | €23,652 | €282 | -€23,370 | -98.8% |
| Other amounts receivable | 41 | - | €12,096 | +€12,096 | |
| Cash at bank and in hand | 54/58 | €5,416 | €22,597 | +€17,181 | +317% |
| Deferred charges and accrued income | 490/1 | €528 | - | -€528 | |
| Total equity and liabilities | 10/49 | €105,106 | €161,214 | +€56,107 | +53.4% |
| Equity | 10/15 | €43,633 | €25,861 | -€17,772 | -40.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €250 | €250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,183 | €19,411 | -€17,772 | -47.8% |
| Amounts payable | 17/49 | €61,474 | €135,353 | +€73,879 | +120% |
| Amounts payable after more than one year | 17 | - | €39,330 | +€39,330 | |
| Financial debts | 170/4 | - | €39,330 | +€39,330 | |
| Amounts payable within one year | 42/48 | €61,429 | €96,022 | +€34,594 | +56.3% |
| Current portion of amounts payable after more than one year | 42 | - | €10,356 | +€10,356 | |
| Financial debts | 43 | €11,885 | - | -€11,885 | |
| Credit institutions | 430/8 | €11,885 | - | -€11,885 | |
| Trade debts | 44 | €12,703 | €41,013 | +€28,311 | +223% |
| Suppliers | 440/4 | €12,703 | €41,013 | +€28,311 | +223% |
| Advances received on contracts in progress | 46 | €919 | €919 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €24,670 | €21,786 | -€2,884 | -11.7% |
| Taxes | 450/3 | €20,663 | €11,430 | -€9,233 | -44.7% |
| Remuneration and social security | 454/9 | €4,007 | €10,356 | +€6,349 | +158% |
| Other amounts payable | 47/48 | €11,252 | €21,947 | +€10,696 | +95.1% |
| Accrued charges and deferred income | 492/3 | €45 | - | -€45 | |
| Non-recurring operating income | 76A | - | €4,472 | +€4,472 | |
| Remuneration, social security and pensions | 62 | €14,940 | €14,918 | -€21 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,475 | €10,113 | +€5,638 | +126% |
| Other operating charges | 640/8 | €479 | €499 | +€20 | +4.2% |
| Gross operating margin | 9900 | €58,730 | €12,208 | -€46,521 | -79.2% |
| Operating profit (loss) | 9901 | €38,837 | -€13,322 | -€52,158 | |
| Financial charges | 65/66B | €3,067 | €4,450 | +€1,383 | +45.1% |
| Recurring financial charges | 65 | €3,067 | €4,450 | +€1,383 | +45.1% |
| Profit (loss) for the period before taxes | 9903 | €35,770 | -€17,772 | -€53,541 | |
| Income taxes | 67/77 | €4,580 | - | -€4,580 | |
| Profit (loss) for the period | 9904 | €31,190 | -€17,772 | -€48,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,190 | -€17,772 | -€48,961 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.