MAGECOFI-ATECOFI: 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.
MAGECOFI-ATECOFI
Largest movements
- Receivables within one year +€124,702
up €124,702 (+76.3%), from €163,373 to €288,075
of which Trade receivables: +€124,702
- Cash -€64,437
down €64,437 (-50.0%), from €128,766 to €64,329
mainly Receivables within one year (-€124,702) and Current portion of long-term debt (-€62,748)
- Intangible fixed assets -€30,000
down €30,000 (-33.3%), from €90,000 to €60,000
- Tangible fixed assets -€10,932
down €10,932 (-24.2%), from €45,248 to €34,317
of which Other tangible fixed assets: -€8,121
- Current portion of long-term debt -€62,748
down €62,748 (-77.7%), from €80,742 to €17,995
- Trade debts +€47,645
up €47,645 (+74.9%), from €63,597 to €111,242
- Other debts +€27,942
up €27,942 (+39.9%), from €69,979 to €97,921
- Tax, wage and social debts +€7,249
up €7,249 (+7.6%), from €95,264 to €102,513
of which Taxes: +€11,525
- Debts after one year -€5,712
down €5,712 (-43.2%), from €13,221 to €7,509
- Gross operating margin -€83,313
down €83,313 (-15.2%), from €548,499 to €465,186
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 | €434,837 | €454,594 | +€19,757 | +4.5% |
| Fixed assets | 21/28 | €142,698 | €101,767 | -€40,932 | -28.7% |
| Intangible fixed assets | 21 | €90,000 | €60,000 | -€30,000 | -33.3% |
| Tangible fixed assets | 22/27 | €45,248 | €34,317 | -€10,932 | -24.2% |
| Furniture and vehicles | 24 | €10,573 | €7,762 | -€2,811 | -26.6% |
| Other tangible fixed assets | 26 | €34,675 | €26,555 | -€8,121 | -23.4% |
| Financial fixed assets | 28 | €7,450 | €7,450 | = | 0.0% |
| Current assets | 29/58 | €292,139 | €352,827 | +€60,689 | +20.8% |
| Amounts receivable within one year | 40/41 | €163,373 | €288,075 | +€124,702 | +76.3% |
| Trade receivables | 40 | €162,939 | €287,642 | +€124,702 | +76.5% |
| Other amounts receivable | 41 | €434 | €434 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €128,766 | €64,329 | -€64,437 | -50.0% |
| Deferred charges and accrued income | 490/1 | - | €423 | +€423 | |
| Total equity and liabilities | 10/49 | €434,837 | €454,594 | +€19,757 | +4.5% |
| Equity | 10/15 | €112,034 | €117,415 | +€5,381 | +4.8% |
| Contributions | 10/11 | €34,085 | €34,085 | = | 0.0% |
| Reserves | 13 | €19,599 | €19,599 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,408 | €3,408 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,408 | €3,408 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,191 | €16,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,350 | €63,731 | +€5,381 | +9.2% |
| Amounts payable | 17/49 | €322,803 | €337,179 | +€14,376 | +4.5% |
| Amounts payable after more than one year | 17 | €13,221 | €7,509 | -€5,712 | -43.2% |
| Financial debts | 170/4 | €13,221 | €7,509 | -€5,712 | -43.2% |
| Amounts payable within one year | 42/48 | €309,582 | €329,670 | +€20,088 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €80,742 | €17,995 | -€62,748 | -77.7% |
| Trade debts | 44 | €63,597 | €111,242 | +€47,645 | +74.9% |
| Suppliers | 440/4 | €63,597 | €111,242 | +€47,645 | +74.9% |
| Taxes, remuneration and social security | 45 | €95,264 | €102,513 | +€7,249 | +7.6% |
| Taxes | 450/3 | €57,084 | €68,610 | +€11,525 | +20.2% |
| Remuneration and social security | 454/9 | €38,180 | €33,903 | -€4,277 | -11.2% |
| Other amounts payable | 47/48 | €69,979 | €97,921 | +€27,942 | +39.9% |
| Remuneration, social security and pensions | 62 | €299,589 | €299,543 | -€46 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,864 | €44,463 | -€2,401 | -5.1% |
| Other operating charges | 640/8 | €9,615 | €7,288 | -€2,327 | -24.2% |
| Gross operating margin | 9900 | €548,499 | €465,186 | -€83,313 | -15.2% |
| Operating profit (loss) | 9901 | €192,431 | €113,892 | -€78,538 | -40.8% |
| Financial income | 75/76B | €3,269 | €1,211 | -€2,058 | -63.0% |
| Recurring financial income | 75 | €3,269 | €1,211 | -€2,058 | -63.0% |
| Financial charges | 65/66B | €15,681 | €17,046 | +€1,365 | +8.7% |
| Recurring financial charges | 65 | €15,681 | €17,046 | +€1,365 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €180,018 | €98,056 | -€81,962 | -45.5% |
| Income taxes | 67/77 | €35,059 | €39,633 | +€4,575 | +13.0% |
| Profit (loss) for the period | 9904 | €144,959 | €58,423 | -€86,536 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €144,959 | €58,423 | -€86,536 | -59.7% |
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 24 October 2026 via checked.be.