MAGACO: 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.
MAGACO
Largest movements
- Cash +€73,738
up €73,738 (+62.5%), from €117,899 to €191,637
mainly Net result for the year (+€97,609) and Trade debts (+€17,159)
- Tangible fixed assets +€53,168
up €53,168 (+91.7%), from €58,010 to €111,178
of which Other tangible fixed assets: +€52,637
- Profit (loss) carried forward +€97,609
up €97,609 (+70.9%), from €137,713 to €235,322
- Trade debts +€17,159
up €17,159 (+153.3%), from €11,194 to €28,353
- Tax, wage and social debts +€9,071
up €9,071 (+24.9%), from €36,393 to €45,464
- Other debts +€4,525
up €4,525 (+74.7%), from €6,061 to €10,586
- Gross operating margin +€11,972
up €11,972 (+9.6%), from €125,324 to €137,296
- Depreciation +€9,706
up €9,706 (+366.6%), from €2,648 to €12,353
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 | €193,361 | €321,725 | +€128,364 | +66.4% |
| Fixed assets | 21/28 | €58,010 | €111,178 | +€53,168 | +91.7% |
| Tangible fixed assets | 22/27 | €58,010 | €111,178 | +€53,168 | +91.7% |
| Furniture and vehicles | 24 | €3,798 | €4,329 | +€531 | +14.0% |
| Other tangible fixed assets | 26 | €54,212 | €106,849 | +€52,637 | +97.1% |
| Current assets | 29/58 | €135,351 | €210,547 | +€75,196 | +55.6% |
| Amounts receivable within one year | 40/41 | €17,452 | €18,175 | +€723 | +4.1% |
| Trade receivables | 40 | €17,452 | €18,175 | +€723 | +4.1% |
| Cash at bank and in hand | 54/58 | €117,899 | €191,637 | +€73,738 | +62.5% |
| Deferred charges and accrued income | 490/1 | - | €734 | +€734 | |
| Total equity and liabilities | 10/49 | €193,361 | €321,725 | +€128,364 | +66.4% |
| Equity | 10/15 | €139,713 | €237,322 | +€97,609 | +69.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,713 | €235,322 | +€97,609 | +70.9% |
| Amounts payable | 17/49 | €53,648 | €84,403 | +€30,754 | +57.3% |
| Amounts payable within one year | 42/48 | €53,648 | €84,403 | +€30,754 | +57.3% |
| Trade debts | 44 | €11,194 | €28,353 | +€17,159 | +153.3% |
| Suppliers | 440/4 | €11,194 | €28,353 | +€17,159 | +153.3% |
| Taxes, remuneration and social security | 45 | €36,393 | €45,464 | +€9,071 | +24.9% |
| Taxes | 450/3 | €36,393 | €45,464 | +€9,071 | +24.9% |
| Other amounts payable | 47/48 | €6,061 | €10,586 | +€4,525 | +74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,648 | €12,353 | +€9,706 | +366.6% |
| Other operating charges | 640/8 | €85 | - | -€85 | |
| Gross operating margin | 9900 | €125,324 | €137,296 | +€11,972 | +9.6% |
| Operating profit (loss) | 9901 | €122,591 | €124,942 | +€2,351 | +1.9% |
| Financial income | 75/76B | €66 | €494 | +€428 | +648.0% |
| Recurring financial income | 75 | €66 | €494 | +€428 | +648.0% |
| Financial charges | 65/66B | €153 | €154 | +€1 | +0.5% |
| Recurring financial charges | 65 | €153 | €154 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €122,503 | €125,282 | +€2,779 | +2.3% |
| Income taxes | 67/77 | €26,609 | €27,673 | +€1,064 | +4.0% |
| Profit (loss) for the period | 9904 | €95,895 | €97,609 | +€1,714 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,895 | €97,609 | +€1,714 | +1.8% |
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 30 September 2026 via checked.be.