MAGECOFI: 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.
MAGECOFI
Largest movements
- Financial fixed assets -€55,000
down €55,000 (-10.0%), from €550,000 to €495,000
- Receivables within one year +€37,473
up €37,473 (+160.9%), from €23,295 to €60,768
of which Other amounts receivable: +€33,060
- Cash +€30,537
new in 2025: €30,537
mainly Investment in fixed assets (net) (+€56,304) and Net result for the year (+€44,871)
- Tangible fixed assets -€22,166
down €22,166 (-3.2%), from €697,804 to €675,639
of which Land and buildings: -€21,916
- Debts after one year -€45,473
down €45,473 (-7.3%), from €626,626 to €581,153
of which Financial debts: -€45,473
- Reserves +€40,000
up €40,000 (+22.1%), from €180,695 to €220,695
of which Distributable reserves: +€40,000
- Taxes +€8,771
up €8,771 (+146.2%), from €6,000 to €14,771
- Financial income -€6,993
down €6,993 (-28.0%), from €25,000 to €18,007
- Financial charges -€3,734
down €3,734 (-17.1%), from €21,886 to €18,152
- Gross operating margin -€3,199
down €3,199 (-3.3%), from €97,882 to €94,683
- Other operating charges -€1,449
down €1,449 (-22.8%), from €6,343 to €4,894
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.
Cash bridge derived
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 | €1,271,099 | €1,263,930 | -€7,169 | -0.6% |
| Fixed assets | 21/28 | €1,247,804 | €1,170,639 | -€77,166 | -6.2% |
| Tangible fixed assets | 22/27 | €697,804 | €675,639 | -€22,166 | -3.2% |
| Land and buildings | 22 | €697,554 | €675,639 | -€21,916 | -3.1% |
| Other tangible fixed assets | 26 | €250 | - | -€250 | |
| Financial fixed assets | 28 | €550,000 | €495,000 | -€55,000 | -10.0% |
| Current assets | 29/58 | €23,295 | €93,292 | +€69,997 | +300.5% |
| Amounts receivable within one year | 40/41 | €23,295 | €60,768 | +€37,473 | +160.9% |
| Trade receivables | 40 | €4,855 | €9,268 | +€4,413 | +90.9% |
| Other amounts receivable | 41 | €18,440 | €51,500 | +€33,060 | +179.3% |
| Cash at bank and in hand | 54/58 | - | €30,537 | +€30,537 | |
| Deferred charges and accrued income | 490/1 | - | €1,987 | +€1,987 | |
| Total equity and liabilities | 10/49 | €1,271,099 | €1,263,930 | -€7,169 | -0.6% |
| Equity | 10/15 | €369,925 | €414,796 | +€44,871 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180,695 | €220,695 | +€40,000 | +22.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €178,835 | €218,835 | +€40,000 | +22.4% |
| Profit (loss) carried forward | 14 | €170,630 | €175,501 | +€4,871 | +2.9% |
| Amounts payable | 17/49 | €901,174 | €849,134 | -€52,040 | -5.8% |
| Amounts payable after more than one year | 17 | €626,626 | €581,153 | -€45,473 | -7.3% |
| Financial debts | 170/4 | €620,226 | €574,753 | -€45,473 | -7.3% |
| Other amounts payable | 178/9 | €6,400 | €6,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €273,244 | €267,981 | -€5,263 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €50,140 | €48,040 | -€2,100 | -4.2% |
| Financial debts | 43 | €9,267 | - | -€9,267 | |
| Credit institutions | 430/8 | €9,267 | - | -€9,267 | |
| Trade debts | 44 | €8,772 | €15,955 | +€7,182 | +81.9% |
| Suppliers | 440/4 | €8,772 | €15,955 | +€7,182 | +81.9% |
| Taxes, remuneration and social security | 45 | €19,307 | €28,102 | +€8,795 | +45.6% |
| Taxes | 450/3 | €19,307 | €28,102 | +€8,795 | +45.6% |
| Other amounts payable | 47/48 | €185,758 | €175,885 | -€9,873 | -5.3% |
| Accrued charges and deferred income | 492/3 | €1,304 | - | -€1,304 | |
| Remuneration, social security and pensions | 62 | €4,100 | €4,140 | +€40 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,166 | €20,862 | -€1,304 | -5.9% |
| Other operating charges | 640/8 | €6,343 | €4,894 | -€1,449 | -22.8% |
| Non-recurring operating charges | 66A | - | €5,000 | +€5,000 | |
| Gross operating margin | 9900 | €97,882 | €94,683 | -€3,199 | -3.3% |
| Operating profit (loss) | 9901 | €65,273 | €59,787 | -€5,487 | -8.4% |
| Financial income | 75/76B | €25,000 | €18,007 | -€6,993 | -28.0% |
| Recurring financial income | 75 | €25,000 | €18,007 | -€6,993 | -28.0% |
| Financial charges | 65/66B | €21,886 | €18,152 | -€3,734 | -17.1% |
| Recurring financial charges | 65 | €21,886 | €18,152 | -€3,734 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €68,387 | €59,642 | -€8,746 | -12.8% |
| Income taxes | 67/77 | €6,000 | €14,771 | +€8,771 | +146.2% |
| Profit (loss) for the period | 9904 | €62,387 | €44,871 | -€17,516 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,387 | €44,871 | -€17,516 | -28.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.