MAGELEIN: 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.
MAGELEIN
Largest movements
- Receivables after one year +€160,000
new in 2024: €160,000
- Cash -€159,656
down €159,656 (-79.8%), from €200,133 to €40,478
mainly Receivables after one year (-€160,000) and Net result for the year (-€55,827)
- Tangible fixed assets -€89,069
down €89,069 (-3.7%), from €2.4m to €2.3m
of which Land and buildings: -€89,069
- Current investments +€39,619
up €39,619 (+8.1%), from €491,307 to €530,927
- Profit (loss) carried forward -€55,827
down €55,827 (-30.7%), from -€181,875 to -€237,702
- Financial charges -€28,468
down €28,468 (-87.0%), from €32,725 to €4,257
- Gross operating margin -€18,605
down €18,605 (-45.7%), from €40,704 to €22,100
- Financial income -€2,584
down €2,584 (-11.0%), from €23,531 to €20,947
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 | €3,411,703 | €3,354,943 | -€56,760 | -1.7% |
| Fixed assets | 21/28 | €2,691,071 | €2,602,001 | -€89,069 | -3.3% |
| Tangible fixed assets | 22/27 | €2,391,071 | €2,302,001 | -€89,069 | -3.7% |
| Land and buildings | 22 | €2,376,321 | €2,287,251 | -€89,069 | -3.7% |
| Other tangible fixed assets | 26 | €14,750 | €14,750 | = | 0.0% |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €720,632 | €752,942 | +€32,310 | +4.5% |
| Amounts receivable after more than one year | 29 | - | €160,000 | +€160,000 | |
| Other amounts receivable | 291 | - | €160,000 | +€160,000 | |
| Amounts receivable within one year | 40/41 | €19,111 | €11,415 | -€7,696 | -40.3% |
| Other amounts receivable | 41 | €19,111 | €11,415 | -€7,696 | -40.3% |
| Current investments | 50/53 | €491,307 | €530,927 | +€39,619 | +8.1% |
| Cash at bank and in hand | 54/58 | €200,133 | €40,478 | -€159,656 | -79.8% |
| Deferred charges and accrued income | 490/1 | €10,080 | €10,123 | +€42 | +0.4% |
| Total equity and liabilities | 10/49 | €3,411,703 | €3,354,943 | -€56,760 | -1.7% |
| Equity | 10/15 | €3,377,746 | €3,321,920 | -€55,827 | -1.7% |
| Contributions | 10/11 | €3,520,000 | €3,520,000 | = | 0.0% |
| Reserves | 13 | €39,621 | €39,621 | = | 0.0% |
| Distributable reserves | 133 | €39,621 | €39,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,875 | -€237,702 | -€55,827 | -30.7% |
| Amounts payable | 17/49 | €33,957 | €33,024 | -€933 | -2.7% |
| Amounts payable within one year | 42/48 | €2,457 | €374 | -€2,083 | -84.8% |
| Trade debts | 44 | - | €374 | +€374 | |
| Suppliers | 440/4 | - | €374 | +€374 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,457 | €0 | -€2,457 | -100.0% |
| Accrued charges and deferred income | 492/3 | €31,500 | €32,650 | +€1,150 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,069 | €89,069 | = | 0.0% |
| Other operating charges | 640/8 | €5,333 | €5,547 | +€214 | +4.0% |
| Gross operating margin | 9900 | €40,704 | €22,100 | -€18,605 | -45.7% |
| Operating profit (loss) | 9901 | -€53,698 | -€72,517 | -€18,819 | -35.0% |
| Financial income | 75/76B | €23,531 | €20,947 | -€2,584 | -11.0% |
| Recurring financial income | 75 | €23,531 | €20,947 | -€2,584 | -11.0% |
| Financial charges | 65/66B | €32,725 | €4,257 | -€28,468 | -87.0% |
| Recurring financial charges | 65 | €32,725 | €4,257 | -€28,468 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,892 | -€55,827 | +€7,065 | +11.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€62,892 | -€55,827 | +€7,065 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,892 | -€55,827 | +€7,065 | +11.2% |
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 28 September 2026 via checked.be.