MAGECON: 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.
MAGECON
Largest movements
- Cash +€134,891
up €134,891 (+149%), from €90,660 to €225,551
mainly Net result for the year (+€183,447) and Depreciation (+€18,751)
- Current investments +€32,858
up €32,858 (+9.2%), from €357,856 to €390,713
- Tangible fixed assets -€13,353
down €13,353 (-15.9%), from €83,905 to €70,552
of which Furniture and vehicles: -€16,183
- Reserves +€183,610
up €183,610 (+56.5%), from €325,217 to €508,827
- Debts after one year -€16,782
down €16,782 (-62.4%), from €26,878 to €10,096
- Other debts -€7,621
down €7,621 (-65.0%), from €11,722 to €4,102
- Gross operating margin +€15,134
up €15,134 (+6.1%), from €248,501 to €263,635
- Depreciation +€10,744
up €10,744 (+134%), from €8,008 to €18,751
- Taxes -€9,954
down €9,954 (-13.5%), from €73,747 to €63,793
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 | €566,316 | €718,233 | +€151,917 | +26.8% |
| Fixed assets | 21/28 | €83,905 | €70,552 | -€13,353 | -15.9% |
| Tangible fixed assets | 22/27 | €83,905 | €70,552 | -€13,353 | -15.9% |
| Furniture and vehicles | 24 | €82,982 | €66,799 | -€16,183 | -19.5% |
| Other tangible fixed assets | 26 | €923 | €3,753 | +€2,830 | +307% |
| Current assets | 29/58 | €482,412 | €647,681 | +€165,270 | +34.3% |
| Amounts receivable within one year | 40/41 | €30,799 | €30,242 | -€558 | -1.8% |
| Trade receivables | 40 | €30,771 | €30,242 | -€529 | -1.7% |
| Other amounts receivable | 41 | €29 | - | -€29 | |
| Current investments | 50/53 | €357,856 | €390,713 | +€32,858 | +9.2% |
| Cash at bank and in hand | 54/58 | €90,660 | €225,551 | +€134,891 | +149% |
| Deferred charges and accrued income | 490/1 | €3,097 | €1,176 | -€1,921 | -62.0% |
| Total equity and liabilities | 10/49 | €566,316 | €718,233 | +€151,917 | +26.8% |
| Equity | 10/15 | €340,217 | €523,827 | +€183,610 | +54.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €325,217 | €508,827 | +€183,610 | +56.5% |
| Distributable reserves | 133 | €325,217 | €508,827 | +€183,610 | +56.5% |
| Amounts payable | 17/49 | €226,099 | €194,406 | -€31,692 | -14.0% |
| Amounts payable after more than one year | 17 | €26,878 | €10,096 | -€16,782 | -62.4% |
| Financial debts | 170/4 | €26,878 | €10,096 | -€16,782 | -62.4% |
| Amounts payable within one year | 42/48 | €199,220 | €184,310 | -€14,910 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €16,139 | €16,782 | +€643 | +4.0% |
| Trade debts | 44 | €6,644 | €2,366 | -€4,279 | -64.4% |
| Suppliers | 440/4 | €6,644 | €2,366 | -€4,279 | -64.4% |
| Taxes, remuneration and social security | 45 | €164,715 | €161,061 | -€3,654 | -2.2% |
| Taxes | 450/3 | €161,365 | €157,711 | -€3,654 | -2.3% |
| Remuneration and social security | 454/9 | €3,350 | €3,350 | = | 0.0% |
| Other amounts payable | 47/48 | €11,722 | €4,102 | -€7,621 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,008 | €18,751 | +€10,744 | +134% |
| Other operating charges | 640/8 | €628 | €881 | +€252 | +40.2% |
| Gross operating margin | 9900 | €248,501 | €263,635 | +€15,134 | +6.1% |
| Operating profit (loss) | 9901 | €239,865 | €244,003 | +€4,138 | +1.7% |
| Financial income | 75/76B | €4,272 | €5,138 | +€866 | +20.3% |
| Recurring financial income | 75 | €4,272 | €5,138 | +€866 | +20.3% |
| Financial charges | 65/66B | €1,788 | €1,901 | +€113 | +6.3% |
| Recurring financial charges | 65 | €1,788 | €1,901 | +€113 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €242,349 | €247,240 | +€4,891 | +2.0% |
| Income taxes | 67/77 | €73,747 | €63,793 | -€9,954 | -13.5% |
| Profit (loss) for the period | 9904 | €168,603 | €183,447 | +€14,844 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €168,603 | €183,447 | +€14,844 | +8.8% |
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 15 October 2026 via checked.be.