T. Mogal: what changed
T. Mogal
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€32,807
down €32,807 (-70.6%), from €46,452 to €13,644
mainly Current investments (-€100,000) and Tax, wage and social debts (-€4,840)
- Tangible fixed assets -€11,636
down €11,636 (-22.4%), from €51,993 to €40,358
- Profit (loss) carried forward +€59,913
new in 2025: €59,913
- Tax, wage and social debts -€4,840
down €4,840 (-51.8%), from €9,351 to €4,510
- Gross operating margin +€5,659
up €5,659 (+6.8%), from €82,988 to €88,647
- Taxes -€5,561
down €5,561 (-25.7%), from €21,646 to €16,086
- Depreciation +€5,451
up €5,451 (+88.1%), from €6,184 to €11,636
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,975 | €154,002 | +€55,027 | +55.6% |
| Fixed assets | 21/28 | €51,993 | €40,358 | -€11,636 | -22.4% |
| Tangible fixed assets | 22/27 | €51,993 | €40,358 | -€11,636 | -22.4% |
| Furniture and vehicles | 24 | €51,993 | €40,358 | -€11,636 | -22.4% |
| Current assets | 29/58 | €46,982 | €113,644 | +€66,663 | +142% |
| Amounts receivable within one year | 40/41 | €12 | - | -€12 | |
| Other amounts receivable | 41 | €12 | - | -€12 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €46,452 | €13,644 | -€32,807 | -70.6% |
| Deferred charges and accrued income | 490/1 | €518 | - | -€518 | |
| Total equity and liabilities | 10/49 | €98,975 | €154,002 | +€55,027 | +55.6% |
| Equity | 10/15 | €88,033 | €147,946 | +€59,913 | +68.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €83,033 | €83,033 | = | 0.0% |
| Distributable reserves | 133 | €83,033 | €83,033 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €59,913 | +€59,913 | |
| Amounts payable | 17/49 | €10,942 | €6,056 | -€4,886 | -44.7% |
| Amounts payable within one year | 42/48 | €10,942 | €6,056 | -€4,886 | -44.7% |
| Trade debts | 44 | €1,591 | €1,545 | -€46 | -2.9% |
| Suppliers | 440/4 | €1,591 | €1,545 | -€46 | -2.9% |
| Taxes, remuneration and social security | 45 | €9,351 | €4,510 | -€4,840 | -51.8% |
| Taxes | 450/3 | €9,351 | €4,510 | -€4,840 | -51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,184 | €11,636 | +€5,451 | +88.1% |
| Other operating charges | 640/8 | €331 | €315 | -€16 | -4.9% |
| Gross operating margin | 9900 | €82,988 | €88,647 | +€5,659 | +6.8% |
| Operating profit (loss) | 9901 | €76,473 | €76,697 | +€224 | +0.3% |
| Financial charges | 65/66B | €999 | €698 | -€301 | -30.1% |
| Recurring financial charges | 65 | €999 | €698 | -€301 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €75,474 | €75,999 | +€525 | +0.7% |
| Income taxes | 67/77 | €21,646 | €16,086 | -€5,561 | -25.7% |
| Profit (loss) for the period | 9904 | €53,828 | €59,913 | +€6,086 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,828 | €59,913 | +€6,086 | +11.3% |
Next steps
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 2 November 2026 via checked.be.