MAGELLAN & CIE: 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.
MAGELLAN & CIE
Largest movements
- Tangible fixed assets -€17,006
down €17,006 (-19.2%), from €88,386 to €71,381
of which Other tangible fixed assets: -€12,236
- Stocks and contracts -€14,513
down €14,513 (-17.4%), from €83,187 to €68,674
- Receivables within one year -€5,605
down €5,605 (-52.5%), from €10,683 to €5,078
of which Trade receivables: -€5,631
- Profit (loss) carried forward -€14,270
down €14,270 (-6.9%), from -€205,389 to -€219,660
- Current portion of long-term debt -€11,641
down €11,641 (-31.6%), from €36,869 to €25,229
- Short-term financial debts -€9,200
down €9,200 (-80.0%), from €11,500 to €2,300
of which Other loans: -€9,200
- Other debts -€4,609
down €4,609 (-95.5%), from €4,828 to €219
- Trade debts +€4,001
up €4,001 (+19.4%), from €20,629 to €24,630
- Gross operating margin +€29,955
up €29,955, from -€8,363 to €21,593
- Financial income -€13,366
down €13,366 (-86.8%), from €15,404 to €2,037
- Financial charges -€1,980
down €1,980 (-31.2%), from €6,344 to €4,363
- Other operating charges -€727
down €727 (-100%), from €727 to €0
- Staff costs +€507
up €507 (+3.2%), from €15,886 to €16,392
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 | €195,108 | €159,612 | -€35,495 | -18.2% |
| Fixed assets | 21/28 | €88,386 | €71,381 | -€17,006 | -19.2% |
| Tangible fixed assets | 22/27 | €88,386 | €71,381 | -€17,006 | -19.2% |
| Plant, machinery and equipment | 23 | €4,155 | €2,953 | -€1,202 | -28.9% |
| Furniture and vehicles | 24 | €8,308 | €4,740 | -€3,568 | -42.9% |
| Other tangible fixed assets | 26 | €75,924 | €63,687 | -€12,236 | -16.1% |
| Current assets | 29/58 | €106,721 | €88,232 | -€18,490 | -17.3% |
| Stocks and contracts in progress | 3 | €83,187 | €68,674 | -€14,513 | -17.4% |
| Stocks | 30/36 | €83,187 | €68,674 | -€14,513 | -17.4% |
| Amounts receivable within one year | 40/41 | €10,683 | €5,078 | -€5,605 | -52.5% |
| Trade receivables | 40 | €10,683 | €5,052 | -€5,631 | -52.7% |
| Other amounts receivable | 41 | €0 | €26 | +€26 | |
| Cash at bank and in hand | 54/58 | €12,697 | €14,480 | +€1,783 | +14.0% |
| Deferred charges and accrued income | 490/1 | €154 | €0 | -€154 | -100% |
| Total equity and liabilities | 10/49 | €195,108 | €159,612 | -€35,495 | -18.2% |
| Equity | 10/15 | -€177,667 | -€193,251 | -€15,584 | -8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€205,389 | -€219,660 | -€14,270 | -6.9% |
| Investment grants | 15 | €7,263 | €5,949 | -€1,314 | -18.1% |
| Amounts payable | 17/49 | €372,774 | €352,863 | -€19,911 | -5.3% |
| Amounts payable after more than one year | 17 | €282,374 | €284,500 | +€2,126 | +0.8% |
| Financial debts | 170/4 | €282,374 | €284,500 | +€2,126 | +0.8% |
| Amounts payable within one year | 42/48 | €90,401 | €68,364 | -€22,037 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €36,869 | €25,229 | -€11,641 | -31.6% |
| Financial debts | 43 | €11,500 | €2,300 | -€9,200 | -80.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €11,500 | €2,300 | -€9,200 | -80.0% |
| Trade debts | 44 | €20,629 | €24,630 | +€4,001 | +19.4% |
| Suppliers | 440/4 | €20,629 | €24,630 | +€4,001 | +19.4% |
| Advances received on contracts in progress | 46 | €581 | €1,326 | +€744 | +128% |
| Taxes, remuneration and social security | 45 | €15,993 | €14,660 | -€1,333 | -8.3% |
| Taxes | 450/3 | €13,865 | €14,509 | +€644 | +4.6% |
| Remuneration and social security | 454/9 | €2,128 | €151 | -€1,977 | -92.9% |
| Other amounts payable | 47/48 | €4,828 | €219 | -€4,609 | -95.5% |
| Non-recurring operating income | 76A | - | €613 | +€613 | |
| Remuneration, social security and pensions | 62 | €15,886 | €16,392 | +€507 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,266 | €17,006 | -€261 | -1.5% |
| Other operating charges | 640/8 | €727 | €0 | -€727 | -100% |
| Gross operating margin | 9900 | -€8,363 | €21,593 | +€29,955 | |
| Operating profit (loss) | 9901 | -€42,242 | -€11,805 | +€30,437 | +72.1% |
| Financial income | 75/76B | €15,404 | €2,037 | -€13,366 | -86.8% |
| Recurring financial income | 75 | €15,404 | €2,037 | -€13,366 | -86.8% |
| Financial charges | 65/66B | €6,344 | €4,363 | -€1,980 | -31.2% |
| Recurring financial charges | 65 | €6,344 | €4,363 | -€1,980 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | -€33,182 | -€14,131 | +€19,051 | +57.4% |
| Income taxes | 67/77 | €132 | €140 | +€8 | +6.1% |
| Profit (loss) for the period | 9904 | -€33,313 | -€14,270 | +€19,043 | +57.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,313 | -€14,270 | +€19,043 | +57.2% |
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 20 October 2026 via checked.be.