MAGELINA: what changed
What changed
MAGELINA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€397,392
2024 · €192,010+€205,382
Equity
€1.3m
2024 · €858,217+€397,392
Cash
€2,615
2024 · €28,697-€26,082
Balance sheet total
€4.2m
2024 · €2.5m+€1.7m
Largest movements
Assets
- Stocks and contracts +€1.8m
new in 2025: €1.8m
- Financial fixed assets -€78,332
down €78,332 (-3.2%), from €2.4m to €2.3m
Equity and liabilities
- Short-term financial debts +€1.4m
up €1.4m (+270%), from €500,000 to €1.9m
- Reserves +€397,392
up €397,392 (+47.3%), from €839,625 to €1.2m
Income statement
- Financial income +€439,068
up €439,068 (+547%), from €80,311 to €519,379
- Gross operating margin -€203,427
down €203,427 (-85.4%), from €238,302 to €34,875
- Financial charges +€88,863
up €88,863 (+159%), from €55,982 to €144,844
- Taxes -€61,268
down €61,268 (-99.9%), from €61,343 to €75
- Depreciation +€3,731
up €3,731 (+52.3%), from €7,137 to €10,868
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€192,010
Gross operating margin
-€203,427
Depreciation
-€3,731
Other operating charges
+€1,066
Financial income
+€439,068
Financial charges
-€88,863
Taxes
+€61,268
Result 2025
€397,392
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.4m
Investment
+€75,789
Financing
+€1.3m
Cash 2024
€28,697
From operations (derived)
-€1.4m
Net result for the year
+€397,392
Depreciation
+€10,868
Stocks and contracts
-€1.8m
Receivables within one year
-€28,533
Smaller working-capital items
+€6,742
Other debts
-€31,745
Investment (derived)
+€75,789
Investment in fixed assets (net)
+€75,789
Financing
+€1.3m
Debts after one year
-€16,000
Short-term financial debts
+€1.4m
Cash 2025
€2,615
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,508,575 | €4,211,064 | +€1.7m | +67.9% |
| Fixed assets | 21/28 | €2,457,814 | €2,371,156 | -€86,657 | -3.5% |
| Tangible fixed assets | 22/27 | €45,283 | €36,957 | -€8,325 | -18.4% |
| Plant, machinery and equipment | 23 | €6,221 | €4,221 | -€2,000 | -32.2% |
| Furniture and vehicles | 24 | €39,061 | €32,736 | -€6,325 | -16.2% |
| Financial fixed assets | 28 | €2,412,531 | €2,334,199 | -€78,332 | -3.2% |
| Current assets | 29/58 | €50,762 | €1,839,908 | +€1.8m | +3,525% |
| Stocks and contracts in progress | 3 | - | €1,790,595 | +€1.8m | |
| Stocks | 30/36 | - | €1,790,595 | +€1.8m | |
| Amounts receivable within one year | 40/41 | €18,165 | €46,698 | +€28,533 | +157% |
| Other amounts receivable | 41 | €18,165 | €46,698 | +€28,533 | +157% |
| Cash at bank and in hand | 54/58 | €28,697 | €2,615 | -€26,082 | -90.9% |
| Deferred charges and accrued income | 490/1 | €3,900 | - | -€3,900 | |
| Total equity and liabilities | 10/49 | €2,508,575 | €4,211,064 | +€1.7m | +67.9% |
| Equity | 10/15 | €858,217 | €1,255,608 | +€397,392 | +46.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €839,625 | €1,237,016 | +€397,392 | +47.3% |
| Distributable reserves | 133 | €839,625 | €1,237,016 | +€397,392 | +47.3% |
| Amounts payable | 17/49 | €1,650,359 | €2,955,456 | +€1.3m | +79.1% |
| Amounts payable after more than one year | 17 | €250,000 | €234,000 | -€16,000 | -6.4% |
| Financial debts | 170/4 | €250,000 | €234,000 | -€16,000 | -6.4% |
| Amounts payable within one year | 42/48 | €1,400,359 | €2,721,456 | +€1.3m | +94.3% |
| Financial debts | 43 | €500,000 | €1,850,000 | +€1.4m | +270% |
| Credit institutions | 430/8 | €500,000 | €1,850,000 | +€1.4m | +270% |
| Trade debts | 44 | €477 | €120 | -€357 | -74.9% |
| Suppliers | 440/4 | €477 | €120 | -€357 | -74.9% |
| Taxes, remuneration and social security | 45 | €11,558 | €14,757 | +€3,199 | +27.7% |
| Taxes | 450/3 | €11,558 | €14,757 | +€3,199 | +27.7% |
| Other amounts payable | 47/48 | €888,324 | €856,579 | -€31,745 | -3.6% |
| Non-recurring operating income | 76A | €11,802 | - | -€11,802 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,137 | €10,868 | +€3,731 | +52.3% |
| Other operating charges | 640/8 | €2,141 | €1,075 | -€1,066 | -49.8% |
| Gross operating margin | 9900 | €238,302 | €34,875 | -€203,427 | -85.4% |
| Operating profit (loss) | 9901 | €229,024 | €22,932 | -€206,092 | -90.0% |
| Financial income | 75/76B | €80,311 | €519,379 | +€439,068 | +547% |
| Recurring financial income | 75 | €80,311 | €519,379 | +€439,068 | +547% |
| Financial charges | 65/66B | €55,982 | €144,844 | +€88,863 | +159% |
| Recurring financial charges | 65 | €55,982 | €144,844 | +€88,863 | +159% |
| Profit (loss) for the period before taxes | 9903 | €253,353 | €397,467 | +€144,114 | +56.9% |
| Income taxes | 67/77 | €61,343 | €75 | -€61,268 | -99.9% |
| Profit (loss) for the period | 9904 | €192,010 | €397,392 | +€205,382 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €192,010 | €397,392 | +€205,382 | +107% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.