MAGALI MATHIEU: 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.
MAGALI MATHIEU
Largest movements
- Cash -€49,642
down €49,642 (-39.0%), from €127,447 to €77,805
mainly Other debts (-€62,199) and Trade debts (-€17,661)
- Tangible fixed assets -€6,092
down €6,092 (-20.6%), from €29,600 to €23,508
of which Land and buildings: -€4,101
- Receivables within one year +€5,058
up €5,058 (+344%), from €1,472 to €6,530
of which Trade receivables: +€3,055
- Other debts -€62,199
down €62,199 (-56.9%), from €109,235 to €47,036
- Reserves +€28,640
up €28,640 (+25.7%), from €111,560 to €140,200
- Trade debts -€17,661
down €17,661 (-99.5%), from €17,748 to €87
- Gross operating margin +€4,849
up €4,849 (+10.1%), from €48,017 to €52,866
- Financial income -€4,086
down €4,086 (-89.0%), from €4,590 to €504
- Depreciation +€3,474
up €3,474 (+81.1%), from €4,286 to €7,760
- Taxes -€2,156
down €2,156 (-19.0%), from €11,341 to €9,185
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 | €260,218 | €209,322 | -€50,897 | -19.6% |
| Fixed assets | 21/28 | €29,600 | €23,508 | -€6,092 | -20.6% |
| Tangible fixed assets | 22/27 | €29,600 | €23,508 | -€6,092 | -20.6% |
| Land and buildings | 22 | €18,178 | €14,077 | -€4,101 | -22.6% |
| Plant, machinery and equipment | 23 | €5,761 | €4,445 | -€1,316 | -22.8% |
| Furniture and vehicles | 24 | €5,031 | €4,986 | -€45 | -0.9% |
| Other tangible fixed assets | 26 | €630 | €0 | -€630 | -100% |
| Current assets | 29/58 | €230,618 | €185,814 | -€44,805 | -19.4% |
| Amounts receivable within one year | 40/41 | €1,472 | €6,530 | +€5,058 | +344% |
| Trade receivables | 40 | €1,472 | €4,527 | +€3,055 | +208% |
| Other amounts receivable | 41 | €0 | €2,003 | +€2,003 | |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127,447 | €77,805 | -€49,642 | -39.0% |
| Deferred charges and accrued income | 490/1 | €1,699 | €1,478 | -€221 | -13.0% |
| Total equity and liabilities | 10/49 | €260,218 | €209,322 | -€50,897 | -19.6% |
| Equity | 10/15 | €130,635 | €159,223 | +€28,587 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,560 | €140,200 | +€28,640 | +25.7% |
| Distributable reserves | 133 | €111,560 | €140,200 | +€28,640 | +25.7% |
| Profit (loss) carried forward | 14 | €475 | €423 | -€53 | -11.1% |
| Amounts payable | 17/49 | €129,583 | €50,099 | -€79,484 | -61.3% |
| Amounts payable within one year | 42/48 | €129,583 | €50,023 | -€79,560 | -61.4% |
| Trade debts | 44 | €17,748 | €87 | -€17,661 | -99.5% |
| Suppliers | 440/4 | €17,748 | €87 | -€17,661 | -99.5% |
| Taxes, remuneration and social security | 45 | €2,600 | €2,900 | +€300 | +11.5% |
| Taxes | 450/3 | €2,600 | €2,900 | +€300 | +11.5% |
| Other amounts payable | 47/48 | €109,235 | €47,036 | -€62,199 | -56.9% |
| Accrued charges and deferred income | 492/3 | - | €76 | +€76 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,286 | €7,760 | +€3,474 | +81.1% |
| Other operating charges | 640/8 | €1,572 | €1,620 | +€49 | +3.1% |
| Gross operating margin | 9900 | €48,017 | €52,866 | +€4,849 | +10.1% |
| Operating profit (loss) | 9901 | €42,159 | €43,486 | +€1,326 | +3.1% |
| Financial income | 75/76B | €4,590 | €504 | -€4,086 | -89.0% |
| Recurring financial income | 75 | €4,590 | €504 | -€4,086 | -89.0% |
| Financial charges | 65/66B | €3,292 | €2,788 | -€505 | -15.3% |
| Recurring financial charges | 65 | €3,292 | €2,788 | -€505 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €43,457 | €41,202 | -€2,255 | -5.2% |
| Income taxes | 67/77 | €11,341 | €9,185 | -€2,156 | -19.0% |
| Profit (loss) for the period | 9904 | €32,116 | €32,017 | -€99 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,116 | €32,017 | -€99 | -0.3% |
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 13 October 2026 via checked.be.