MAGIC DSP
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00506864.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 6 filings
Turnover
≈ €150,000
Estimated: probably between €110,000 and €350,000
EBIT margin
Not included in this filing
Net result
-€139,622▼ 9.5%
2024 · -€127,467
Working capital
-€283,488▼ 87.1%
2024 · -€151,511
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€113,467
▲ 1.2%
2025
20202025
Net result
-€139,622
▼ 9.5%
2025
lowest quarter of the sector
20202025
Equity
-€182,134
▼ 328%
2025
lowest quarter of the sector
20202025
Total assets
€443,473
▼ 10.4%
2025
highest quarter of the sector
20202025
Debt
€625,607
▲ 16.4%
2025
20202025
Working capital
-€283,488
▼ 87.1%
2025
lowest quarter of the sector
20202025
Solvency
-41.1%
▼ 32.5pp
2025
lowest quarter of the sector
20202025
Current ratio
0.27
▼ 0.12
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-31.5%
▼ 5.7pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
1.7
▼ 43.3%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€9,244-€31,173€109,379▲ 251%-€9,922-€114,881▼ 1,058%-€113,467▲ 1.2%
Net result-€11,467below the sector's middle half-€27,780above the sector's middle half€83,633within the sector's middle half▲ 201%-€16,491below the sector's middle half-€127,467below the sector's middle half▼ 673%-€139,622below the sector's middle half▼ 9.5%
Equity-€9,967below the sector's middle half-€17,813within the sector's middle half€101,445within the sector's middle half▲ 470%€84,954within the sector's middle half▼ 16.3%-€42,513below the sector's middle half-€182,134below the sector's middle half▼ 328%
Total assets€202,171within the sector's middle half-€449,622above the sector's middle half▲ 122%€458,937within the sector's middle half▲ 2.1%€363,445below the sector's middle half▼ 20.8%€495,080above the sector's middle half▲ 36.2%€443,473above the sector's middle half▼ 10.4%
Debt€212,139-€431,809▲ 104%€357,492▼ 17.2%€278,491▼ 22.1%€537,593▲ 93.0%€625,607▲ 16.4%
Working capital-€64,352below the sector's middle half--€3,941within the sector's middle half▲ 93.9%€60,986within the sector's middle half€50,641within the sector's middle half▼ 17.0%-€151,511below the sector's middle half-€283,488below the sector's middle half▼ 87.1%
Solvency-4.9%below the sector's middle half-4.0%below the sector's middle half▲ 8.9pp22.1%within the sector's middle half▲ 18.1pp23.4%within the sector's middle half▲ 1.3pp-8.6%below the sector's middle half▼ 32.0pp-41.1%below the sector's middle half▼ 32.5pp
Current ratio0.25below the sector's middle half-0.99within the sector's middle half▲ 0.731.25within the sector's middle half▲ 0.261.28within the sector's middle half▲ 0.030.39below the sector's middle half▼ 0.890.27below the sector's middle half▼ 0.12
Return on assets (ROA)-5.7%below the sector's middle half-6.2%within the sector's middle half▲ 11.9pp18.2%above the sector's middle half▲ 12.0pp-4.5%below the sector's middle half▼ 22.8pp-25.7%below the sector's middle half▼ 21.2pp-31.5%below the sector's middle half▼ 5.7pp
Staff (FTE)0.72.6below the sector's middle half▲ 271%2.9below the sector's middle half▲ 11.5%3▲ 3.4%1.7▼ 43.3%
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €113,467, smaller than the loss of €114,881 in 2024.
Large changes and their cause
- 2024 Net result -673% on 2023. The accounts now follow the micro format, last year the full format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €443,473
Fixed assets
€339,937 ▼ 14.7%
Current assets
€103,537 ▲ 7.4%
Equity and liabilities
Equity-€182,134
Debt€625,607
Equity is negative. Debt (€625,607) exceeds the balance-sheet total (€443,473).
Key figures and ratios
EBITDA
-€38,424▲
2024 · -€65,682
Cash flow
-€64,579▲
2024 · -€78,268
Interest coverage
-1.50▲
2024 · -4.82
Debt ≤ 1 year
€387,024▲
2024 · €247,932
Debt > 1 year
€238,583▼
2024 · €289,661
Income taxes
€493▲
2024 · €436
Staff costs
€80,674▼
2024 · €113,182
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 3 | - | - |
| full-time | 2 | 1 | 3 | - | - |
| part-time | - | 1 | - | - | - |
| in full-time equivalents | 2 | 1.3 | 3 | - | 2 |
| Average over the year, in full-time equivalents | 0.7 | 2.6 | 2.9 | 3 | 1.7 |
| On a permanent contract | 1 | 1 | 2 | 1 | 1 |
| Joined | - | 2 | 2 | 2 | 3 |
| Left | - | 2 | 1 | 4 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €167,826 | €17,282 | €1,548 | €292,231 | €8,568 |
| Intangible fixed assets | - | €13,646 | €12,112 | €25,911 | €7,752 |
| Financial fixed assets | €100 | - | - | - | - |
| Depreciation and write-downs of the year | €9,856 | €25,666 | €33,664 | €49,199 | €75,042 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €23,799 | €121,925 | €129,355 | €113,182 | €80,674 | ▼ 28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,010 | €9,856 | €25,666 | €33,664 | €49,199 | €75,042 | ▲ 52.5% |
| Other operating charges640/8 | - | €685 | €1,334 | €5,736 | €10,753 | €6,230 | ▼ 42.1% |
| Gross operating margin9900 | €18,558 | €65,512 | €258,304 | €158,833 | €58,253 | €48,480 | ▼ 16.8% |
| Operating profit (loss)9901 | -€9,244 | €31,173 | €109,379 | -€9,922 | -€114,881 | -€113,467 | ▲ 1.2% |
| Financial income75/76B | - | €1,288 | €1,669 | €1,215 | €1,483 | - | - |
| Recurring financial income75 | €597 | €1,288 | €1,669 | €1,215 | €1,483 | - | - |
| Financial charges65/66B | - | €4,682 | €13,822 | €7,366 | €13,633 | €25,662 | ▲ 88.2% |
| Recurring financial charges65 | €2,760 | €4,682 | €13,822 | €7,366 | €13,633 | €25,662 | ▲ 88.2% |
| Profit (loss) for the period before taxes9903 | -€11,407 | €27,780 | €97,227 | -€16,072 | -€127,031 | -€139,129 | ▼ 9.5% |
| Income taxes67/77 | €61 | - | €13,594 | €419 | €436 | €493 | ▲ 13.0% |
| Profit (loss) for the period9904 | -€11,467 | €27,780 | €83,633 | -€16,491 | -€127,467 | -€139,622 | ▼ 9.5% |
| Profit (loss) for the period to be appropriated9905 | -€11,467 | €27,780 | €83,633 | -€16,491 | -€127,467 | -€139,622 | ▼ 9.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €202,171 | €449,622 | €458,937 | €363,445 | €495,080 | €443,473 | ▼ 10.4% |
| Fixed assets21/28 | €180,385 | €144,458 | €149,720 | €129,716 | €398,659 | €339,937 | ▼ 14.7% |
| Intangible fixed assets21 | €1,880 | €1,078 | €12,834 | €18,415 | €31,048 | €22,463 | ▼ 27.6% |
| Tangible fixed assets22/27 | €175,406 | €140,181 | €133,686 | €108,103 | €364,412 | €314,274 | ▼ 13.8% |
| Land and buildings22 | - | €4,194 | €3,750 | €3,305 | €21,731 | €19,808 | ▼ 8.8% |
| Plant, machinery and equipment23 | - | €134,492 | €119,367 | €98,172 | €89,018 | €73,073 | ▼ 17.9% |
| Furniture and vehicles24 | - | €1,494 | €10,570 | €6,626 | €17,984 | €9,964 | ▼ 44.6% |
| Leasing and similar rights25 | - | - | - | - | €235,679 | €211,429 | ▼ 10.3% |
| Financial fixed assets28 | €3,099 | €3,199 | €3,199 | €3,199 | €3,199 | €3,199 | = |
| Current assets29/58 | €21,786 | €305,164 | €309,217 | €233,729 | €96,421 | €103,537 | ▲ 7.4% |
| Amounts receivable within one year40/41 | €19,778 | €293,185 | €260,942 | €184,284 | €58,523 | €54,269 | ▼ 7.3% |
| Trade receivables40 | - | €265,246 | €204,354 | €110,260 | €21,738 | €54,127 | ▲ 149% |
| Other amounts receivable41 | - | €27,939 | €56,588 | €74,024 | €36,786 | €142 | ▼ 99.6% |
| Cash at bank and in hand54/58 | €1,345 | €7,590 | €45,367 | €43,954 | €10,480 | €4,211 | ▼ 59.8% |
| Deferred charges and accrued income490/1 | - | €4,388 | €2,908 | €5,491 | €27,418 | €45,057 | ▲ 64.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €202,171 | €449,622 | €458,937 | €363,445 | €495,080 | €443,473 | ▼ 10.4% |
| Equity10/15 | -€9,967 | €17,813 | €101,445 | €84,954 | -€42,513 | -€182,134 | ▼ 328% |
| Contributions10/11 | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Profit (loss) carried forward14 | -€11,467 | €16,313 | €99,945 | €83,454 | -€44,013 | -€183,634 | ▼ 317% |
| Amounts payable17/49 | €212,139 | €431,809 | €357,492 | €278,491 | €537,593 | €625,607 | ▲ 16.4% |
| Amounts payable after more than one year17 | €126,000 | €122,704 | €109,261 | €95,403 | €289,661 | €238,583 | ▼ 17.6% |
| Financial debts170/4 | - | €122,704 | €109,261 | €95,403 | €289,661 | €238,583 | ▼ 17.6% |
| Amounts payable within one year42/48 | €86,139 | €309,105 | €248,231 | €183,088 | €247,932 | €387,024 | ▲ 56.1% |
| Current portion of amounts payable after more than one year42 | - | €10,896 | €12,028 | €12,442 | €93,141 | €90,093 | ▼ 3.3% |
| Trade debts44 | €84,466 | €283,991 | €163,161 | €153,652 | €96,552 | €180,449 | ▲ 86.9% |
| Suppliers440/4 | - | €283,991 | €163,161 | €153,652 | €96,552 | €180,449 | ▲ 86.9% |
| Taxes, remuneration and social security45 | - | €10,992 | €73,042 | €16,994 | €44,739 | €24,029 | ▼ 46.3% |
| Taxes450/3 | - | €3,680 | €56,712 | - | €26,073 | €11,023 | ▼ 57.7% |
| Remuneration and social security454/9 | - | €7,313 | €16,330 | €16,994 | €18,666 | €13,006 | ▼ 30.3% |
| Other amounts payable47/48 | - | €3,225 | - | - | €13,500 | €92,453 | ▲ 585% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,467 | €27,780 | €83,633 | -€16,491 | -€127,467 | -€139,622 | ▼ 9.5% |
| + Depreciation and write-downs630 | €27,010 | €9,856 | €25,666 | €33,664 | €49,199 | €75,042 | ▲ 52.5% |
| Operating cash flow (approximation) | €15,543 | €37,636 | €109,299 | €17,173 | -€78,268 | -€64,579 | ▲ 17.5% |
| Investment in fixed assets (approximation) | - | €26,071 | -€30,928 | -€13,660 | -€318,142 | -€16,320 | ▲ 94.9% |
| Change in cash | - | €6,246 | €37,777 | -€1,414 | -€33,474 | -€6,269 | ▲ 81.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,008 companies had the same profile as MAGIC DSP has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAGIC DSP itself: 2.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,008 companies, not a prediction for MAGIC DSP. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00506864 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00451054 | |
| 31-12-2023 | full format | 28-08-2024 | 2024-00387656 | |
| 31-12-2022 | full format | 06-09-2023 | 2023-00436664 | |
| 31-12-2021 | micro format | 17-10-2022 | 2022-20463223 | |
| 31-12-2020 | micro format | 28-10-2021 | 2021-75800098 |