CS MAG: 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.
What changed
CS MAG
NACE 47.621, Retail sale of newspapers and periodicals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€120,717
2024 · -€148,155+€27,437
Equity
-€293,766
2024 · -€173,049-€120,717
Cash
€79,599
2024 · €86,865-€7,266
Balance sheet total
€959,504
2024 · €824,824+€134,679
Largest movements
Assets
- Intangible fixed assets +€97,452
new in 2025: €97,452
- Tangible fixed assets +€72,024
up €72,024 (+18.3%), from €393,054 to €465,078
of which Land and buildings: +€69,021
- Deferred charges and accrued income -€41,017
down €41,017 (-100.0%), from €41,017 to €0
Equity and liabilities
- Trade debts +€231,194
up €231,194 (+67.6%), from €342,088 to €573,282
- Profit (loss) carried forward -€120,717
down €120,717 (-61.9%), from -€195,049 to -€315,766
- Other debts +€42,930
up €42,930 (+13.9%), from €309,899 to €352,829
- Debts after one year -€21,915
down €21,915 (-6.9%), from €317,692 to €295,777
Income statement
- Gross operating margin +€197,645
up €197,645 (+49.5%), from €399,434 to €597,079
- Staff costs +€111,515
up €111,515 (+22.6%), from €493,633 to €605,148
- Financial charges +€52,985
up €52,985 (+165.4%), from €32,033 to €85,018
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.
Result 2024
-€148,155
Gross operating margin
+€197,645
Staff costs
-€111,515
Depreciation
-€4,409
Other operating charges
-€3,723
Financial income
-€576
Financial charges
-€52,985
Taxes
+€3,000
Result 2025
-€120,717
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.
From operations
+€203,595
Investment
-€190,239
Financing
-€20,623
Cash 2024
€86,865
From operations (derived)
+€203,595
Net result for the year
-€120,717
Depreciation
+€20,762
Stocks and contracts
-€8,120
Receivables within one year
-€5,366
Deferred charges and accrued income
+€41,017
Trade debts
+€231,194
Tax, wage and social debts
-€3,809
Other debts
+€42,930
Accrued charges and deferred income
+€5,704
Investment (derived)
-€190,239
Investment in fixed assets (net)
-€190,239
Financing
-€20,623
Debts after one year
-€21,915
Current portion of long-term debt
+€1,292
Cash 2025
€79,599
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €824,824 | €959,504 | +€134,679 | +16.3% |
| Fixed assets | 21/28 | €393,054 | €562,530 | +€169,476 | +43.1% |
| Intangible fixed assets | 21 | - | €97,452 | +€97,452 | |
| Tangible fixed assets | 22/27 | €393,054 | €465,078 | +€72,024 | +18.3% |
| Land and buildings | 22 | €390,824 | €459,846 | +€69,021 | +17.7% |
| Plant, machinery and equipment | 23 | €36 | €2,160 | +€2,124 | +5959.0% |
| Furniture and vehicles | 24 | €2,194 | €3,073 | +€878 | +40.0% |
| Current assets | 29/58 | €431,770 | €396,973 | -€34,797 | -8.1% |
| Stocks and contracts in progress | 3 | €264,425 | €272,545 | +€8,120 | +3.1% |
| Stocks | 30/36 | €264,425 | €272,545 | +€8,120 | +3.1% |
| Amounts receivable within one year | 40/41 | €39,463 | €44,829 | +€5,366 | +13.6% |
| Trade receivables | 40 | €0 | €4,605 | +€4,605 | |
| Other amounts receivable | 41 | €39,463 | €40,224 | +€761 | +1.9% |
| Cash at bank and in hand | 54/58 | €86,865 | €79,599 | -€7,266 | -8.4% |
| Deferred charges and accrued income | 490/1 | €41,017 | €0 | -€41,017 | -100.0% |
| Total equity and liabilities | 10/49 | €824,824 | €959,504 | +€134,679 | +16.3% |
| Equity | 10/15 | -€173,049 | -€293,766 | -€120,717 | -69.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€195,049 | -€315,766 | -€120,717 | -61.9% |
| Amounts payable | 17/49 | €997,873 | €1,253,270 | +€255,397 | +25.6% |
| Amounts payable after more than one year | 17 | €317,692 | €295,777 | -€21,915 | -6.9% |
| Financial debts | 170/4 | €317,692 | €295,777 | -€21,915 | -6.9% |
| Amounts payable within one year | 42/48 | €680,181 | €951,788 | +€271,607 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €18,907 | €20,199 | +€1,292 | +6.8% |
| Trade debts | 44 | €342,088 | €573,282 | +€231,194 | +67.6% |
| Suppliers | 440/4 | €342,088 | €573,282 | +€231,194 | +67.6% |
| Taxes, remuneration and social security | 45 | €9,287 | €5,478 | -€3,809 | -41.0% |
| Taxes | 450/3 | €7,774 | €0 | -€7,774 | -100.0% |
| Remuneration and social security | 454/9 | €1,513 | €5,478 | +€3,966 | +262.2% |
| Other amounts payable | 47/48 | €309,899 | €352,829 | +€42,930 | +13.9% |
| Accrued charges and deferred income | 492/3 | - | €5,704 | +€5,704 | |
| Remuneration, social security and pensions | 62 | €493,633 | €605,148 | +€111,515 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,353 | €20,762 | +€4,409 | +27.0% |
| Other operating charges | 640/8 | €7,522 | €11,245 | +€3,723 | +49.5% |
| Gross operating margin | 9900 | €399,434 | €597,079 | +€197,645 | +49.5% |
| Operating profit (loss) | 9901 | -€118,074 | -€40,076 | +€77,998 | +66.1% |
| Financial income | 75/76B | €1,953 | €1,377 | -€576 | -29.5% |
| Recurring financial income | 75 | €1,953 | €1,377 | -€576 | -29.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €32,033 | €85,018 | +€52,985 | +165.4% |
| Recurring financial charges | 65 | €32,033 | €85,018 | +€52,985 | +165.4% |
| Profit (loss) for the period before taxes | 9903 | -€148,155 | -€123,717 | +€24,437 | +16.5% |
| Income taxes | 67/77 | €0 | -€3,000 | -€3,000 | |
| Profit (loss) for the period | 9904 | -€148,155 | -€120,717 | +€27,437 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€148,155 | -€120,717 | +€27,437 | +18.5% |
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.