MAGAN: 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.
MAGAN
Largest movements
- Tangible fixed assets -€55,318
down €55,318 (-5.4%), from €1.0m to €973,493
- Receivables within one year +€15,459
up €15,459 (+5.4%), from €286,547 to €302,006
of which Other amounts receivable: +€14,539
- Reserves -€22,608
down €22,608 (-6.2%), from €364,397 to €341,789
of which Tax-exempt reserves: -€22,608
- Trade debts -€16,697
down €16,697 (-92.8%), from €18,000 to €1,303
- Gross operating margin -€37,245
down €37,245 (-30.8%), from €121,086 to €83,841
- Depreciation +€14,290
up €14,290 (+15.8%), from €90,600 to €104,890
- Taxes -€2,479
down €2,479 (-100%), from €2,479 to €0
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 | €1,330,266 | €1,282,818 | -€47,448 | -3.6% |
| Fixed assets | 21/28 | €1,030,311 | €973,493 | -€56,818 | -5.5% |
| Tangible fixed assets | 22/27 | €1,028,811 | €973,493 | -€55,318 | -5.4% |
| Land and buildings | 22 | €1,028,811 | €973,493 | -€55,318 | -5.4% |
| Financial fixed assets | 28 | €1,500 | €0 | -€1,500 | -100% |
| Current assets | 29/58 | €299,955 | €309,325 | +€9,370 | +3.1% |
| Amounts receivable within one year | 40/41 | €286,547 | €302,006 | +€15,459 | +5.4% |
| Trade receivables | 40 | €2,298 | €3,219 | +€921 | +40.1% |
| Other amounts receivable | 41 | €284,248 | €298,787 | +€14,539 | +5.1% |
| Cash at bank and in hand | 54/58 | €11,632 | €5,282 | -€6,350 | -54.6% |
| Deferred charges and accrued income | 490/1 | €1,776 | €2,037 | +€261 | +14.7% |
| Total equity and liabilities | 10/49 | €1,330,266 | €1,282,818 | -€47,448 | -3.6% |
| Equity | 10/15 | €1,244,349 | €1,219,900 | -€24,449 | -2.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €364,397 | €341,789 | -€22,608 | -6.2% |
| Tax-exempt reserves | 132 | €188,816 | €166,208 | -€22,608 | -12.0% |
| Distributable reserves | 133 | €175,580 | €175,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | €804,952 | €803,111 | -€1,841 | -0.2% |
| Provisions and deferred taxes | 16 | €62,939 | €55,403 | -€7,536 | -12.0% |
| Deferred taxes | 168 | €62,939 | €55,403 | -€7,536 | -12.0% |
| Amounts payable | 17/49 | €22,979 | €7,515 | -€15,463 | -67.3% |
| Amounts payable within one year | 42/48 | €22,979 | €7,515 | -€15,463 | -67.3% |
| Trade debts | 44 | €18,000 | €1,303 | -€16,697 | -92.8% |
| Suppliers | 440/4 | €18,000 | €1,303 | -€16,697 | -92.8% |
| Taxes, remuneration and social security | 45 | €2,479 | €3,713 | +€1,234 | +49.8% |
| Taxes | 450/3 | €2,479 | €3,713 | +€1,234 | +49.8% |
| Other amounts payable | 47/48 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,600 | €104,890 | +€14,290 | +15.8% |
| Other operating charges | 640/8 | €16,421 | €16,771 | +€351 | +2.1% |
| Gross operating margin | 9900 | €121,086 | €83,841 | -€37,245 | -30.8% |
| Operating profit (loss) | 9901 | €14,065 | -€37,820 | -€51,885 | |
| Financial income | 75/76B | €6,333 | €5,940 | -€393 | -6.2% |
| Recurring financial income | 75 | €6,333 | €5,940 | -€393 | -6.2% |
| Financial charges | 65/66B | €104 | €104 | = | 0.0% |
| Recurring financial charges | 65 | €104 | €104 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €20,293 | -€31,985 | -€52,278 | |
| Transfer from deferred taxes | 780 | €7,010 | €7,536 | +€526 | +7.5% |
| Income taxes | 67/77 | €2,479 | €0 | -€2,479 | -100% |
| Profit (loss) for the period | 9904 | €24,825 | -€24,449 | -€49,274 | |
| Transfer from tax-exempt reserves | 789 | €21,031 | €22,608 | +€1,577 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,856 | -€1,841 | -€47,697 |
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 23 October 2026 via checked.be.