MAGBRAINE: 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.
MAGBRAINE
Largest movements
- Tangible fixed assets -€200,766
down €200,766 (-11.7%), from €1.7m to €1.5m
of which Plant, machinery and equipment: -€129,048
- Cash +€167,110
up €167,110 (+59.4%), from €281,261 to €448,371
mainly Other debts (+€562,804) and Depreciation (+€308,880)
- Intangible fixed assets -€80,910
down €80,910 (-17.6%), from €458,910 to €378,000
- Receivables within one year -€62,230
down €62,230 (-19.2%), from €323,581 to €261,351
of which Trade receivables: -€40,411
- Other debts +€562,804
up €562,804 (+35.8%), from €1.6m to €2.1m
- Trade debts -€444,321
down €444,321 (-38.0%), from €1.2m to €724,109
of which Suppliers: -€362,721
- Profit (loss) carried forward -€322,224
down €322,224, from €133,095 to -€189,129
- Gross operating margin -€476,115
down €476,115 (-40.0%), from €1.2m to €714,586
- Depreciation +€108,633
up €108,633 (+54.2%), from €200,247 to €308,880
- Financial charges +€39,458
up €39,458 (+70.4%), from €56,019 to €95,477
of which Financial charges: +€27,640
- Staff costs -€15,978
down €15,978 (-2.5%), from €637,118 to €621,140
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 | €3,311,389 | €3,085,401 | -€225,988 | -6.8% |
| Formation expenses | 20 | €22,391 | €17,962 | -€4,429 | -19.8% |
| Fixed assets | 21/28 | €2,204,644 | €1,893,849 | -€310,795 | -14.1% |
| Intangible fixed assets | 21 | €458,910 | €378,000 | -€80,910 | -17.6% |
| Tangible fixed assets | 22/27 | €1,716,615 | €1,515,849 | -€200,766 | -11.7% |
| Land and buildings | 22 | €388,706 | €350,386 | -€38,320 | -9.9% |
| Plant, machinery and equipment | 23 | €1,166,908 | €1,037,860 | -€129,048 | -11.1% |
| Furniture and vehicles | 24 | €161,002 | €127,604 | -€33,398 | -20.7% |
| Financial fixed assets | 28 | €29,119 | - | -€29,119 | |
| Current assets | 29/58 | €1,084,354 | €1,173,589 | +€89,236 | +8.2% |
| Stocks and contracts in progress | 3 | €476,866 | €461,319 | -€15,547 | -3.3% |
| Stocks | 30/36 | €476,866 | €461,319 | -€15,547 | -3.3% |
| Amounts receivable within one year | 40/41 | €323,581 | €261,351 | -€62,230 | -19.2% |
| Trade receivables | 40 | €231,404 | €190,993 | -€40,411 | -17.5% |
| Other amounts receivable | 41 | €92,177 | €70,358 | -€21,819 | -23.7% |
| Cash at bank and in hand | 54/58 | €281,261 | €448,371 | +€167,110 | +59.4% |
| Deferred charges and accrued income | 490/1 | €2,645 | €2,548 | -€97 | -3.7% |
| Total equity and liabilities | 10/49 | €3,311,389 | €3,085,401 | -€225,988 | -6.8% |
| Equity | 10/15 | €427,460 | €105,236 | -€322,224 | -75.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €44,365 | €44,365 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,873 | €8,873 | = | 0.0% |
| Legal reserve | 130 | €8,873 | €8,873 | = | 0.0% |
| Distributable reserves | 133 | €35,492 | €35,492 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,095 | -€189,129 | -€322,224 | |
| Amounts payable | 17/49 | €2,883,928 | €2,980,164 | +€96,236 | +3.3% |
| Amounts payable after more than one year | 17 | €3,800 | €3,800 | = | 0.0% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,844,398 | €2,966,623 | +€122,225 | +4.3% |
| Trade debts | 44 | €1,168,430 | €724,109 | -€444,321 | -38.0% |
| Suppliers | 440/4 | €1,086,830 | €724,109 | -€362,721 | -33.4% |
| Bills of exchange payable | 441 | €81,600 | - | -€81,600 | |
| Taxes, remuneration and social security | 45 | €106,002 | €109,745 | +€3,743 | +3.5% |
| Taxes | 450/3 | €11,956 | €132 | -€11,823 | -98.9% |
| Remuneration and social security | 454/9 | €94,046 | €109,613 | +€15,566 | +16.6% |
| Other amounts payable | 47/48 | €1,569,966 | €2,132,770 | +€562,804 | +35.8% |
| Accrued charges and deferred income | 492/3 | €35,730 | €9,741 | -€25,989 | -72.7% |
| Non-recurring operating income | 76A | €826,120 | €144,584 | -€681,535 | -82.5% |
| Remuneration, social security and pensions | 62 | €637,118 | €621,140 | -€15,978 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,247 | €308,880 | +€108,633 | +54.2% |
| Other operating charges | 640/8 | €18,211 | €20,640 | +€2,429 | +13.3% |
| Non-recurring operating charges | 66A | - | €361 | +€361 | |
| Gross operating margin | 9900 | €1,190,701 | €714,586 | -€476,115 | -40.0% |
| Operating profit (loss) | 9901 | €335,125 | -€236,436 | -€571,560 | |
| Financial income | 75/76B | €6,205 | €9,794 | +€3,589 | +57.8% |
| Recurring financial income | 75 | €6,205 | €9,794 | +€3,589 | +57.8% |
| Financial charges | 65/66B | €56,019 | €95,477 | +€39,458 | +70.4% |
| Recurring financial charges | 65 | €32,825 | €60,465 | +€27,640 | +84.2% |
| Non-recurring financial charges | 66B | €23,195 | €35,013 | +€11,818 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €285,311 | -€322,119 | -€607,430 | |
| Income taxes | 67/77 | €11,319 | €105 | -€11,214 | -99.1% |
| Profit (loss) for the period | 9904 | €273,992 | -€322,224 | -€596,216 | |
| Profit (loss) for the period to be appropriated | 9905 | €273,992 | -€322,224 | -€596,216 |
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.