MAGE CONSTRUCT: 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.
MAGE CONSTRUCT
Largest movements
- Receivables within one year +€338,065
up €338,065 (+20.5%), from €1.6m to €2.0m
of which Trade receivables: +€260,827
- Cash -€179,711
down €179,711 (-44.6%), from €403,128 to €223,417
mainly Receivables within one year (-€338,065) and Current portion of long-term debt (-€94,419)
- Trade debts +€188,740
up €188,740 (+33.1%), from €569,881 to €758,621
of which Bills of exchange payable: +€139,339
- Current portion of long-term debt -€94,419
no longer reported in 2025 (was €94,419)
- Tax, wage and social debts -€27,578
down €27,578 (-96.3%), from €28,652 to €1,073
of which Taxes: -€18,701
- Staff costs +€103,076
up €103,076 (+90.1%), from €114,406 to €217,483
- Gross operating margin +€61,480
up €61,480 (+21.8%), from €281,978 to €343,458
- Taxes -€8,097
down €8,097 (-24.8%), from €32,616 to €24,519
- Other operating charges -€3,478
down €3,478 (-9.5%), from €36,655 to €33,177
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 | €2,190,621 | €2,320,843 | +€130,222 | +5.9% |
| Fixed assets | 21/28 | €87,005 | €69,650 | -€17,355 | -19.9% |
| Tangible fixed assets | 22/27 | €64,505 | €47,150 | -€17,355 | -26.9% |
| Plant, machinery and equipment | 23 | €13,975 | €5,558 | -€8,417 | -60.2% |
| Furniture and vehicles | 24 | €8,867 | €5,146 | -€3,720 | -42.0% |
| Other tangible fixed assets | 26 | €41,663 | €36,445 | -€5,218 | -12.5% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €2,103,616 | €2,251,193 | +€147,577 | +7.0% |
| Amounts receivable within one year | 40/41 | €1,647,580 | €1,985,645 | +€338,065 | +20.5% |
| Trade receivables | 40 | €917,471 | €1,178,298 | +€260,827 | +28.4% |
| Other amounts receivable | 41 | €730,108 | €807,347 | +€77,239 | +10.6% |
| Cash at bank and in hand | 54/58 | €403,128 | €223,417 | -€179,711 | -44.6% |
| Deferred charges and accrued income | 490/1 | €52,908 | €42,131 | -€10,778 | -20.4% |
| Total equity and liabilities | 10/49 | €2,190,621 | €2,320,843 | +€130,222 | +5.9% |
| Equity | 10/15 | €1,496,358 | €1,534,384 | +€38,026 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,219 | €382,605 | +€20,386 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €360,359 | €212,345 | -€148,014 | -41.1% |
| Distributable reserves | 133 | - | €168,400 | +€168,400 | |
| Profit (loss) carried forward | 14 | €1,115,539 | €1,133,179 | +€17,640 | +1.6% |
| Amounts payable | 17/49 | €694,263 | €786,459 | +€92,196 | +13.3% |
| Amounts payable within one year | 42/48 | €694,263 | €786,459 | +€92,196 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €94,419 | - | -€94,419 | |
| Trade debts | 44 | €569,881 | €758,621 | +€188,740 | +33.1% |
| Suppliers | 440/4 | €408,976 | €458,377 | +€49,401 | +12.1% |
| Bills of exchange payable | 441 | €160,904 | €300,244 | +€139,339 | +86.6% |
| Advances received on contracts in progress | 46 | - | €20,611 | +€20,611 | |
| Taxes, remuneration and social security | 45 | €28,652 | €1,073 | -€27,578 | -96.3% |
| Taxes | 450/3 | €18,701 | - | -€18,701 | |
| Remuneration and social security | 454/9 | €9,951 | €1,073 | -€8,878 | -89.2% |
| Other amounts payable | 47/48 | €1,312 | €6,154 | +€4,842 | +369% |
| Remuneration, social security and pensions | 62 | €114,406 | €217,483 | +€103,076 | +90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,963 | €19,938 | -€2,025 | -9.2% |
| Other operating charges | 640/8 | €36,655 | €33,177 | -€3,478 | -9.5% |
| Gross operating margin | 9900 | €281,978 | €343,458 | +€61,480 | +21.8% |
| Operating profit (loss) | 9901 | €108,954 | €72,860 | -€36,094 | -33.1% |
| Financial charges | 65/66B | €7,068 | €10,315 | +€3,247 | +45.9% |
| Recurring financial charges | 65 | €7,068 | €10,315 | +€3,247 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €101,886 | €62,545 | -€39,340 | -38.6% |
| Income taxes | 67/77 | €32,616 | €24,519 | -€8,097 | -24.8% |
| Profit (loss) for the period | 9904 | €69,269 | €38,026 | -€31,244 | -45.1% |
| Transfer from tax-exempt reserves | 789 | - | €168,400 | +€168,400 | |
| Transfer to tax-exempt reserves | 689 | €46,310 | €20,386 | -€25,924 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,959 | €186,040 | +€163,081 | +710% |
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 19 October 2026 via checked.be.