MGMD: what changed
MGMD
Largest movements
- Cash -€18,921
down €18,921 (-50.1%), from €37,774 to €18,853
mainly Net result for the year (-€18,338) and Trade debts (-€1,051)
- Receivables within one year +€858
up €858 (+36.5%), from €2,351 to €3,210
- Profit (loss) carried forward -€18,338
down €18,338 (-85.9%), from €21,339 to €3,002
- Other debts +€1,326
up €1,326 (+16.6%), from €8,013 to €9,339
- Trade debts -€1,051
down €1,051 (-43.0%), from €2,443 to €1,392
- Gross operating margin -€32,395
down €32,395, from €14,780 to -€17,615
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 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Current assets | 29/58 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Amounts receivable within one year | 40/41 | €2,351 | €3,210 | +€858 | +36.5% |
| Other amounts receivable | 41 | €2,351 | €3,210 | +€858 | +36.5% |
| Cash at bank and in hand | 54/58 | €37,774 | €18,853 | -€18,921 | -50.1% |
| Total equity and liabilities | 10/49 | €40,126 | €22,063 | -€18,062 | -45.0% |
| Equity | 10/15 | €29,399 | €11,062 | -€18,338 | -62.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €21,339 | €3,002 | -€18,338 | -85.9% |
| Amounts payable | 17/49 | €10,727 | €11,002 | +€275 | +2.6% |
| Amounts payable within one year | 42/48 | €10,727 | €11,002 | +€275 | +2.6% |
| Trade debts | 44 | €2,443 | €1,392 | -€1,051 | -43.0% |
| Suppliers | 440/4 | €2,443 | €1,392 | -€1,051 | -43.0% |
| Taxes, remuneration and social security | 45 | €271 | €271 | = | 0.0% |
| Taxes | 450/3 | €271 | €271 | = | 0.0% |
| Other amounts payable | 47/48 | €8,013 | €9,339 | +€1,326 | +16.6% |
| Other operating charges | 640/8 | €662 | €680 | +€17 | +2.6% |
| Gross operating margin | 9900 | €14,780 | -€17,615 | -€32,395 | |
| Operating profit (loss) | 9901 | €14,118 | -€18,295 | -€32,413 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +90.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +90.0% |
| Financial charges | 65/66B | €97 | €43 | -€54 | -55.6% |
| Recurring financial charges | 65 | €97 | €43 | -€54 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €14,021 | -€18,338 | -€32,359 | |
| Profit (loss) for the period | 9904 | €14,021 | -€18,338 | -€32,359 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,021 | -€18,338 | -€32,359 |
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 7 November 2026 via checked.be.