MAG PAINTINGS: 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.
MAG PAINTINGS
Largest movements
- Tangible fixed assets +€37,282
up €37,282 (+151%), from €24,643 to €61,925
of which Leasing and similar rights: +€25,219
- Cash +€6,375
up €6,375 (+1,063%), from €600 to €6,975
mainly Debts after one year (+€26,038) and Net result for the year (+€14,020)
- Receivables within one year +€3,550
up €3,550 (+14.8%), from €23,909 to €27,459
of which Trade receivables: +€6,790
- Debts after one year +€26,038
up €26,038 (+119%), from €21,923 to €47,961
- Profit (loss) carried forward +€14,020
up €14,020 (+60.9%), from €23,024 to €37,044
- Tax, wage and social debts +€7,192
up €7,192 (+23,268%), from €31 to €7,223
- Short-term financial debts -€4,889
no longer reported in 2025 (was €4,889)
- Current portion of long-term debt +€3,593
up €3,593 (+39.9%), from €9,006 to €12,599
- Gross operating margin +€11,591
up €11,591 (+56.9%), from €20,358 to €31,949
- Taxes +€2,875
up €2,875 (+94.9%), from €3,031 to €5,906
- Other operating charges +€2,400
up €2,400 (+5,334%), from €45 to €2,445
- Depreciation +€2,224
up €2,224 (+49.4%), from €4,505 to €6,729
- Financial charges +€971
up €971 (+44.9%), from €2,162 to €3,132
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.
Derived cash bridge
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 | €60,313 | €106,513 | +€46,200 | +76.6% |
| Fixed assets | 21/28 | €24,643 | €61,925 | +€37,282 | +151% |
| Tangible fixed assets | 22/27 | €24,643 | €61,925 | +€37,282 | +151% |
| Land and buildings | 22 | €21,573 | €20,423 | -€1,150 | -5.3% |
| Furniture and vehicles | 24 | - | €13,213 | +€13,213 | |
| Leasing and similar rights | 25 | €3,070 | €28,289 | +€25,219 | +821% |
| Current assets | 29/58 | €35,670 | €44,589 | +€8,918 | +25.0% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Trade receivables | 290 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,909 | €27,459 | +€3,550 | +14.8% |
| Trade receivables | 40 | €15,287 | €22,077 | +€6,790 | +44.4% |
| Other amounts receivable | 41 | €8,622 | €5,382 | -€3,240 | -37.6% |
| Cash at bank and in hand | 54/58 | €600 | €6,975 | +€6,375 | +1,063% |
| Deferred charges and accrued income | 490/1 | €2,161 | €1,155 | -€1,006 | -46.5% |
| Total equity and liabilities | 10/49 | €60,313 | €106,513 | +€46,200 | +76.6% |
| Equity | 10/15 | €24,024 | €38,044 | +€14,020 | +58.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,024 | €37,044 | +€14,020 | +60.9% |
| Amounts payable | 17/49 | €36,289 | €68,469 | +€32,180 | +88.7% |
| Amounts payable after more than one year | 17 | €21,923 | €47,961 | +€26,038 | +119% |
| Financial debts | 170/4 | €21,923 | €47,961 | +€26,038 | +119% |
| Amounts payable within one year | 42/48 | €14,366 | €20,508 | +€6,142 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | €9,006 | €12,599 | +€3,593 | +39.9% |
| Financial debts | 43 | €4,889 | - | -€4,889 | |
| Credit institutions | 430/8 | €4,889 | - | -€4,889 | |
| Trade debts | 44 | €281 | €686 | +€406 | +145% |
| Suppliers | 440/4 | €281 | €686 | +€406 | +145% |
| Taxes, remuneration and social security | 45 | €31 | €7,223 | +€7,192 | +23,268% |
| Taxes | 450/3 | €31 | €7,223 | +€7,192 | +23,268% |
| Other amounts payable | 47/48 | €159 | - | -€159 | |
| Non-recurring operating income | 76A | - | €653 | +€653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,505 | €6,729 | +€2,224 | +49.4% |
| Other operating charges | 640/8 | €45 | €2,445 | +€2,400 | +5,334% |
| Gross operating margin | 9900 | €20,358 | €31,949 | +€11,591 | +56.9% |
| Operating profit (loss) | 9901 | €15,808 | €22,774 | +€6,966 | +44.1% |
| Financial income | 75/76B | €404 | €284 | -€119 | -29.5% |
| Recurring financial income | 75 | €404 | €284 | -€119 | -29.5% |
| Financial charges | 65/66B | €2,162 | €3,132 | +€971 | +44.9% |
| Recurring financial charges | 65 | €2,162 | €3,132 | +€971 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | €14,050 | €19,926 | +€5,876 | +41.8% |
| Income taxes | 67/77 | €3,031 | €5,906 | +€2,875 | +94.9% |
| Profit (loss) for the period | 9904 | €11,019 | €14,020 | +€3,001 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,019 | €14,020 | +€3,001 | +27.2% |
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 1 November 2026 via checked.be.