MAGA BELGIUM: what changed
What changed
MAGA BELGIUM
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
-€134,940
2024 · -€103,324-€31,616
Equity
-€516,903
2024 · -€300,960-€215,943
Cash
€120,854
2024 · €56+€120,798
Balance sheet total
€714,536
2024 · €476,477+€238,059
Largest movements
Assets
- Cash +€120,798
up €120,798 (+217,263%), from €56 to €120,854
mainly Tax, wage and social debts (+€690,522) and Depreciation (+€10,668)
- Receivables within one year +€98,822
up €98,822 (+21.3%), from €464,949 to €563,771
of which Trade receivables: +€87,750
- Deferred charges and accrued income +€20,267
up €20,267 (+6,522%), from €311 to €20,578
Equity and liabilities
- Tax, wage and social debts +€690,522
up €690,522 (+203%), from €340,155 to €1.0m
of which Remuneration and social security: +€705,104
- Profit (loss) carried forward -€235,943
down €235,943 (-73.1%), from -€322,960 to -€558,903
- Trade debts -€209,409
down €209,409 (-55.3%), from €378,684 to €169,275
- Contributions +€20,000
up €20,000 (+90.9%), from €22,000 to €42,000
- Short-term financial debts -€19,031
down €19,031 (-49.4%), from €38,503 to €19,472
Income statement
- Turnover +€1.4m
up €1.4m (+34.2%), from €4.1m to €5.5m
- Gross operating margin +€1.3m
up €1.3m (+35.7%), from €3.6m to €4.8m
- Staff costs +€1.3m
up €1.3m (+35.4%), from €3.6m to €4.8m
- Purchases and services +€131,588
up €131,588 (+24.6%), from €535,356 to €666,945
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.
Result 2024
-€103,324
Gross operating margin
+€1.3m
Staff costs
-€1.3m
Depreciation
+€9,472
Write-downs
-€3,378
Provisions
+€2,500
Other operating charges
-€2,666
Other operating items
-€9,453
Financial income
+€4
Financial charges
-€37,179
Taxes
-€2,636
Result 2025
-€134,940
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€235,251
Investment
-€8,840
Financing
-€105,613
Cash 2024
€56
From operations (derived)
+€235,251
Net result for the year
-€134,940
Depreciation
+€10,668
Receivables within one year
-€98,822
Deferred charges and accrued income
-€20,267
Provisions
-€2,500
Trade debts
-€209,409
Tax, wage and social debts
+€690,522
Investment (derived)
-€8,840
Investment in fixed assets (net)
-€8,840
Financing
-€105,613
Current portion of long-term debt
-€5,579
Short-term financial debts
-€19,031
Contributions, distributions and other
-€81,003
Cash 2025
€120,854
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,477 | €714,536 | +€238,059 | +50.0% |
| Fixed assets | 21/28 | €11,162 | €9,333 | -€1,828 | -16.4% |
| Tangible fixed assets | 22/27 | €6,877 | €6,048 | -€828 | -12.0% |
| Plant, machinery and equipment | 23 | €4,335 | €3,010 | -€1,325 | -30.6% |
| Furniture and vehicles | 24 | €2,541 | €3,038 | +€497 | +19.5% |
| Financial fixed assets | 28 | €4,285 | €3,285 | -€1,000 | -23.3% |
| Current assets | 29/58 | €465,316 | €705,203 | +€239,888 | +51.6% |
| Amounts receivable within one year | 40/41 | €464,949 | €563,771 | +€98,822 | +21.3% |
| Trade receivables | 40 | €375,404 | €463,154 | +€87,750 | +23.4% |
| Other amounts receivable | 41 | €89,545 | €100,617 | +€11,072 | +12.4% |
| Cash at bank and in hand | 54/58 | €56 | €120,854 | +€120,798 | +217,263% |
| Deferred charges and accrued income | 490/1 | €311 | €20,578 | +€20,267 | +6,522% |
| Total equity and liabilities | 10/49 | €476,477 | €714,536 | +€238,059 | +50.0% |
| Equity | 10/15 | -€300,960 | -€516,903 | -€215,943 | -71.8% |
| Contributions | 10/11 | €22,000 | €42,000 | +€20,000 | +90.9% |
| Profit (loss) carried forward | 14 | -€322,960 | -€558,903 | -€235,943 | -73.1% |
| Provisions and deferred taxes | 16 | €2,500 | - | -€2,500 | |
| Provisions for liabilities and charges | 160/5 | €2,500 | - | -€2,500 | |
| Environmental obligations | 163 | €2,500 | - | -€2,500 | |
| Amounts payable | 17/49 | €774,937 | €1,231,439 | +€456,502 | +58.9% |
| Amounts payable within one year | 42/48 | €774,937 | €1,231,439 | +€456,502 | +58.9% |
| Current portion of amounts payable after more than one year | 42 | €17,595 | €12,015 | -€5,579 | -31.7% |
| Financial debts | 43 | €38,503 | €19,472 | -€19,031 | -49.4% |
| Credit institutions | 430/8 | €38,503 | €19,472 | -€19,031 | -49.4% |
| Trade debts | 44 | €378,684 | €169,275 | -€209,409 | -55.3% |
| Suppliers | 440/4 | €378,684 | €169,275 | -€209,409 | -55.3% |
| Taxes, remuneration and social security | 45 | €340,155 | €1,030,677 | +€690,522 | +203% |
| Taxes | 450/3 | €16,651 | €2,069 | -€14,582 | -87.6% |
| Remuneration and social security | 454/9 | €323,504 | €1,028,608 | +€705,104 | +218% |
| Turnover | 70 | €4,104,692 | €5,509,844 | +€1.4m | +34.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €535,356 | €666,945 | +€131,588 | +24.6% |
| Remuneration, social security and pensions | 62 | €3,565,811 | €4,827,654 | +€1.3m | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,140 | €10,668 | -€9,472 | -47.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,117 | €11,495 | +€3,378 | +41.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€2,500 | -€2,500 | |
| Other operating charges | 640/8 | €1,539 | €4,205 | +€2,666 | +173% |
| Non-recurring operating charges | 66A | €598 | €10,051 | +€9,453 | +1,581% |
| Gross operating margin | 9900 | €3,569,335 | €4,842,899 | +€1.3m | +35.7% |
| Operating profit (loss) | 9901 | -€26,870 | -€18,674 | +€8,195 | +30.5% |
| Financial income | 75/76B | €45 | €49 | +€4 | +7.9% |
| Recurring financial income | 75 | €45 | €49 | +€4 | +7.9% |
| Financial charges | 65/66B | €61,304 | €98,483 | +€37,179 | +60.6% |
| Recurring financial charges | 65 | €61,304 | €98,483 | +€37,179 | +60.6% |
| Profit (loss) for the period before taxes | 9903 | -€88,128 | -€117,109 | -€28,980 | -32.9% |
| Income taxes | 67/77 | €15,196 | €17,832 | +€2,636 | +17.3% |
| Profit (loss) for the period | 9904 | -€103,324 | -€134,940 | -€31,616 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,324 | -€134,940 | -€31,616 | -30.6% |
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 3 November 2026 via checked.be.