M.A.G.: 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.
M.A.G.
Largest movements
- Tangible fixed assets +€22,503
up €22,503 (+600.9%), from €3,745 to €26,247
of which Furniture and vehicles: +€23,260
- Receivables within one year -€5,707
down €5,707 (-52.2%), from €10,930 to €5,223
of which Trade receivables: -€5,636
- Cash +€1,391
up €1,391 (+1.6%), from €85,576 to €86,966
mainly Other debts (+€97,591) and Net result for the year (+€26,662)
- Other debts +€97,591
up €97,591 (+4465.4%), from €2,186 to €99,777
- Reserves -€71,000
no longer reported in 2025 (was €71,000)
- Tax, wage and social debts -€7,397
down €7,397 (-33.2%), from €22,290 to €14,893
- Depreciation +€4,712
up €4,712 (+600.1%), from €785 to €5,497
- Gross operating margin -€2,726
down €2,726 (-6.2%), from €43,781 to €41,055
- Taxes -€825
down €825 (-9.2%), from €8,947 to €8,122
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,582 | €118,437 | +€17,855 | +17.8% |
| Fixed assets | 21/28 | €3,745 | €26,247 | +€22,503 | +600.9% |
| Tangible fixed assets | 22/27 | €3,745 | €26,247 | +€22,503 | +600.9% |
| Plant, machinery and equipment | 23 | €2,023 | €1,266 | -€757 | -37.4% |
| Furniture and vehicles | 24 | €1,722 | €24,982 | +€23,260 | +1351.0% |
| Current assets | 29/58 | €96,838 | €92,190 | -€4,648 | -4.8% |
| Amounts receivable within one year | 40/41 | €10,930 | €5,223 | -€5,707 | -52.2% |
| Trade receivables | 40 | €10,830 | €5,194 | -€5,636 | -52.0% |
| Other amounts receivable | 41 | €100 | €29 | -€71 | -70.6% |
| Cash at bank and in hand | 54/58 | €85,576 | €86,966 | +€1,391 | +1.6% |
| Deferred charges and accrued income | 490/1 | €332 | - | -€332 | |
| Total equity and liabilities | 10/49 | €100,582 | €118,437 | +€17,855 | +17.8% |
| Equity | 10/15 | €75,464 | €3,500 | -€71,964 | -95.4% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €71,000 | - | -€71,000 | |
| Distributable reserves | 133 | €71,000 | - | -€71,000 | |
| Profit (loss) carried forward | 14 | €964 | - | -€964 | |
| Amounts payable | 17/49 | €25,118 | €114,937 | +€89,819 | +357.6% |
| Amounts payable within one year | 42/48 | €25,000 | €114,937 | +€89,937 | +359.7% |
| Trade debts | 44 | €525 | €268 | -€257 | -49.0% |
| Suppliers | 440/4 | €525 | €268 | -€257 | -49.0% |
| Taxes, remuneration and social security | 45 | €22,290 | €14,893 | -€7,397 | -33.2% |
| Taxes | 450/3 | €22,290 | €14,893 | -€7,397 | -33.2% |
| Other amounts payable | 47/48 | €2,186 | €99,777 | +€97,591 | +4465.4% |
| Accrued charges and deferred income | 492/3 | €118 | - | -€118 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €785 | €5,497 | +€4,712 | +600.1% |
| Other operating charges | 640/8 | €502 | €705 | +€204 | +40.6% |
| Gross operating margin | 9900 | €43,781 | €41,055 | -€2,726 | -6.2% |
| Operating profit (loss) | 9901 | €42,494 | €34,852 | -€7,641 | -18.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €281 | €68 | -€213 | -75.7% |
| Recurring financial charges | 65 | €281 | €68 | -€213 | -75.7% |
| Profit (loss) for the period before taxes | 9903 | €42,213 | €34,784 | -€7,429 | -17.6% |
| Income taxes | 67/77 | €8,947 | €8,122 | -€825 | -9.2% |
| Profit (loss) for the period | 9904 | €33,266 | €26,662 | -€6,604 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,266 | €26,662 | -€6,604 | -19.9% |
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 12 October 2026 via checked.be.