MAGECO: what changed
Two fiscal 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.
MAGECO
Largest movements
- Receivables within one year +€433,687
up €433,687 (+101.0%), from €429,539 to €863,226
of which Trade receivables: +€800,000
- Cash +€234,654
up €234,654 (+286.8%), from €81,831 to €316,485
mainly Other debts (+€444,896) and Current portion of long-term debt (+€185,571)
- Tangible fixed assets -€189,432
down €189,432 (-5.1%), from €3.7m to €3.5m
of which Land and buildings: -€117,386
- Other debts +€444,896
up €444,896 (+22.0%), from €2.0m to €2.5m
- Debts after one year -€203,571
down €203,571 (-11.7%), from €1.7m to €1.5m
of which Financial debts: -€203,571
- Current portion of long-term debt +€185,571
up €185,571 (+1030.9%), from €18,000 to €203,571
- Short-term financial debts -€178,570
down €178,570 (-100.0%), from €178,570 to €0
- Reserves +€121,093
up €121,093 (+11.9%), from €1.0m to €1.1m
of which Tax-exempt reserves: +€193,530
- Gross operating margin +€256,144
up €256,144 (+141.1%), from €181,566 to €437,710
- Other operating charges +€111,815
up €111,815 (+1692.8%), from €6,605 to €118,421
- Financial income +€12,971
up €12,971 (+91.9%), from €14,117 to €27,088
- Financial charges -€6,968
down €6,968 (-15.9%), from €43,854 to €36,887
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,658,991 | €7,126,990 | +€467,999 | +7.0% |
| Fixed assets | 21/28 | €5,227,810 | €5,038,377 | -€189,432 | -3.6% |
| Tangible fixed assets | 22/27 | €3,693,463 | €3,504,031 | -€189,432 | -5.1% |
| Land and buildings | 22 | €1,435,452 | €1,318,066 | -€117,386 | -8.2% |
| Plant, machinery and equipment | 23 | €65,920 | €97,231 | +€31,311 | +47.5% |
| Furniture and vehicles | 24 | €99,894 | €73,572 | -€26,322 | -26.3% |
| Leasing and similar rights | 25 | €2,090,404 | €2,013,941 | -€76,463 | -3.7% |
| Other tangible fixed assets | 26 | €1,793 | €1,220 | -€572 | -31.9% |
| Financial fixed assets | 28 | €1,534,347 | €1,534,347 | = | 0.0% |
| Current assets | 29/58 | €1,431,181 | €2,088,612 | +€657,431 | +45.9% |
| Amounts receivable after more than one year | 29 | €887,000 | €862,000 | -€25,000 | -2.8% |
| Other amounts receivable | 291 | €887,000 | €862,000 | -€25,000 | -2.8% |
| Amounts receivable within one year | 40/41 | €429,539 | €863,226 | +€433,687 | +101.0% |
| Trade receivables | 40 | - | €800,000 | +€800,000 | |
| Other amounts receivable | 41 | €429,539 | €63,226 | -€366,313 | -85.3% |
| Cash at bank and in hand | 54/58 | €81,831 | €316,485 | +€234,654 | +286.8% |
| Deferred charges and accrued income | 490/1 | €32,811 | €46,901 | +€14,090 | +42.9% |
| Total equity and liabilities | 10/49 | €6,658,991 | €7,126,990 | +€467,999 | +7.0% |
| Equity | 10/15 | €2,093,269 | €2,187,496 | +€94,228 | +4.5% |
| Contributions | 10/11 | €1,075,000 | €1,075,000 | = | 0.0% |
| Reserves | 13 | €1,018,269 | €1,139,361 | +€121,093 | +11.9% |
| Non-distributable reserves | 130/1 | €9,699 | €9,699 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,699 | €9,699 | = | 0.0% |
| Tax-exempt reserves | 132 | €936,133 | €1,129,662 | +€193,530 | +20.7% |
| Distributable reserves | 133 | €72,437 | €0 | -€72,437 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€26,865 | -€26,865 | |
| Provisions and deferred taxes | 16 | €368,774 | €431,048 | +€62,274 | +16.9% |
| Deferred taxes | 168 | €368,774 | €431,048 | +€62,274 | +16.9% |
| Amounts payable | 17/49 | €4,196,948 | €4,508,445 | +€311,497 | +7.4% |
| Amounts payable after more than one year | 17 | €1,736,234 | €1,532,663 | -€203,571 | -11.7% |
| Financial debts | 170/4 | €1,736,234 | €1,532,663 | -€203,571 | -11.7% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,455,931 | €2,972,832 | +€516,900 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €203,571 | +€185,571 | +1030.9% |
| Financial debts | 43 | €178,570 | €0 | -€178,570 | -100.0% |
| Credit institutions | 430/8 | €178,570 | €0 | -€178,570 | -100.0% |
| Trade debts | 44 | €238,041 | €289,861 | +€51,820 | +21.8% |
| Suppliers | 440/4 | €238,041 | €289,861 | +€51,820 | +21.8% |
| Taxes, remuneration and social security | 45 | €1,137 | €14,321 | +€13,184 | +1159.7% |
| Taxes | 450/3 | €1,137 | €14,321 | +€13,184 | +1159.7% |
| Other amounts payable | 47/48 | €2,020,184 | €2,465,079 | +€444,896 | +22.0% |
| Accrued charges and deferred income | 492/3 | €4,783 | €2,950 | -€1,833 | -38.3% |
| Non-recurring operating income | 76A | €0 | €302,938 | +€302,938 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,138 | €152,245 | -€3,892 | -2.5% |
| Other operating charges | 640/8 | €6,605 | €118,421 | +€111,815 | +1692.8% |
| Gross operating margin | 9900 | €181,566 | €437,710 | +€256,144 | +141.1% |
| Operating profit (loss) | 9901 | €18,823 | €167,044 | +€148,221 | +787.5% |
| Financial income | 75/76B | €14,117 | €27,088 | +€12,971 | +91.9% |
| Recurring financial income | 75 | €14,117 | €27,088 | +€12,971 | +91.9% |
| Financial charges | 65/66B | €43,854 | €36,887 | -€6,968 | -15.9% |
| Recurring financial charges | 65 | €43,854 | €36,887 | -€6,968 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,915 | €157,245 | +€168,160 | |
| Transfer from deferred taxes | 780 | €12,639 | €12,639 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €74,913 | +€74,913 | |
| Income taxes | 67/77 | €718 | €743 | +€25 | +3.5% |
| Profit (loss) for the period | 9904 | €1,006 | €94,228 | +€93,222 | +9265.6% |
| Transfer from tax-exempt reserves | 789 | €31,210 | €31,210 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €224,740 | +€224,740 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,216 | -€99,302 | -€131,518 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.