Magaut: what changed
Magaut
Largest movements
- Tangible fixed assets +€100,614
up €100,614 (+212%), from €47,451 to €148,064
of which Other tangible fixed assets: +€65,651
- Cash -€77,806
down €77,806 (-60.4%), from €128,831 to €51,025
mainly Investment in fixed assets (net) (-€122,879) and Receivables within one year (-€75,011)
- Receivables within one year +€75,011
up €75,011 (+828%), from €9,059 to €84,070
of which Trade receivables: +€65,004
- Trade debts +€65,900
up €65,900 (+445%), from €14,822 to €80,721
- Debts after one year +€46,799
up €46,799 (+134%), from €35,000 to €81,799
- Profit (loss) carried forward -€17,944
down €17,944 (-17.2%), from €104,365 to €86,421
- Current portion of long-term debt +€8,718
up €8,718 (+332%), from €2,626 to €11,344
- Tax, wage and social debts -€4,078
down €4,078 (-34.6%), from €11,790 to €7,713
of which Remuneration and social security: -€2,829
- Gross operating margin -€46,316
down €46,316 (-55.7%), from €83,196 to €36,880
- Staff costs -€6,784
down €6,784 (-19.2%), from €35,327 to €28,542
- Taxes -€5,941
down €5,941 (-97.8%), from €6,074 to €133
- Depreciation +€3,451
up €3,451 (+18.1%), from €19,034 to €22,485
- Financial charges +€1,184
up €1,184 (+134%), from €885 to €2,069
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,410 | €296,594 | +€98,184 | +49.5% |
| Fixed assets | 21/28 | €47,847 | €148,240 | +€100,394 | +210% |
| Intangible fixed assets | 21 | €396 | €176 | -€220 | -55.6% |
| Tangible fixed assets | 22/27 | €47,451 | €148,064 | +€100,614 | +212% |
| Land and buildings | 22 | €15,295 | €14,437 | -€858 | -5.6% |
| Plant, machinery and equipment | 23 | €27,721 | €66,411 | +€38,689 | +140% |
| Furniture and vehicles | 24 | €2,451 | €1,566 | -€885 | -36.1% |
| Leasing and similar rights | 25 | €1,983 | - | -€1,983 | |
| Other tangible fixed assets | 26 | - | €65,651 | +€65,651 | |
| Current assets | 29/58 | €150,564 | €148,354 | -€2,210 | -1.5% |
| Stocks and contracts in progress | 3 | €11,693 | €12,796 | +€1,103 | +9.4% |
| Stocks | 30/36 | €11,693 | €12,796 | +€1,103 | +9.4% |
| Amounts receivable within one year | 40/41 | €9,059 | €84,070 | +€75,011 | +828% |
| Trade receivables | 40 | €3,920 | €68,924 | +€65,004 | +1,658% |
| Other amounts receivable | 41 | €5,140 | €15,146 | +€10,007 | +195% |
| Cash at bank and in hand | 54/58 | €128,831 | €51,025 | -€77,806 | -60.4% |
| Deferred charges and accrued income | 490/1 | €980 | €463 | -€517 | -52.7% |
| Total equity and liabilities | 10/49 | €198,410 | €296,594 | +€98,184 | +49.5% |
| Equity | 10/15 | €130,328 | €112,384 | -€17,944 | -13.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €963 | €963 | = | 0.0% |
| Non-distributable reserves | 130/1 | €963 | - | -€963 | |
| Reserves not available under the articles | 1311 | €963 | - | -€963 | |
| Distributable reserves | 133 | - | €963 | +€963 | |
| Profit (loss) carried forward | 14 | €104,365 | €86,421 | -€17,944 | -17.2% |
| Amounts payable | 17/49 | €68,082 | €184,211 | +€116,129 | +171% |
| Amounts payable after more than one year | 17 | €35,000 | €81,799 | +€46,799 | +134% |
| Financial debts | 170/4 | €35,000 | €81,799 | +€46,799 | +134% |
| Amounts payable within one year | 42/48 | €32,487 | €101,817 | +€69,330 | +213% |
| Current portion of amounts payable after more than one year | 42 | €2,626 | €11,344 | +€8,718 | +332% |
| Trade debts | 44 | €14,822 | €80,721 | +€65,900 | +445% |
| Suppliers | 440/4 | €14,822 | €80,721 | +€65,900 | +445% |
| Taxes, remuneration and social security | 45 | €11,790 | €7,713 | -€4,078 | -34.6% |
| Taxes | 450/3 | €3,601 | €2,352 | -€1,249 | -34.7% |
| Remuneration and social security | 454/9 | €8,189 | €5,360 | -€2,829 | -34.5% |
| Other amounts payable | 47/48 | €3,249 | €2,039 | -€1,210 | -37.2% |
| Accrued charges and deferred income | 492/3 | €595 | €595 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €35,327 | €28,542 | -€6,784 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,034 | €22,485 | +€3,451 | +18.1% |
| Other operating charges | 640/8 | €1,570 | €1,689 | +€118 | +7.5% |
| Gross operating margin | 9900 | €83,196 | €36,880 | -€46,316 | -55.7% |
| Operating profit (loss) | 9901 | €27,266 | -€15,836 | -€43,101 | |
| Financial income | 75/76B | €902 | €93 | -€809 | -89.7% |
| Recurring financial income | 75 | €902 | €93 | -€809 | -89.7% |
| Financial charges | 65/66B | €885 | €2,069 | +€1,184 | +134% |
| Recurring financial charges | 65 | €885 | €2,069 | +€1,184 | +134% |
| Profit (loss) for the period before taxes | 9903 | €27,283 | -€17,812 | -€45,095 | |
| Income taxes | 67/77 | €6,074 | €133 | -€5,941 | -97.8% |
| Profit (loss) for the period | 9904 | €21,209 | -€17,944 | -€39,153 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,209 | -€17,944 | -€39,153 |
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 1 November 2026 via checked.be.