Magellan-Transition: 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-Transition
Largest movements
- Current investments -€16,130
down €16,130 (-42.2%), from €38,191 to €22,061
- Receivables within one year +€9,868
up €9,868 (+51.3%), from €19,226 to €29,094
of which Trade receivables: +€11,490
- Cash -€3,968
down €3,968 (-89.3%), from €4,444 to €476
mainly Trade debts (-€22,233) and Contributions, distributions and other (-€20,000)
- Tangible fixed assets -€2,570
down €2,570 (-6.2%), from €41,133 to €38,563
of which Other tangible fixed assets: -€3,424
- Intangible fixed assets -€1,500
down €1,500 (-17.4%), from €8,630 to €7,130
- Trade debts -€22,233
down €22,233 (-86.0%), from €25,861 to €3,628
- Other debts +€15,995
up €15,995 (+317%), from €5,041 to €21,036
- Reserves -€5,026
down €5,026 (-9.7%), from €51,779 to €46,753
- Debts after one year -€3,958
down €3,958 (-23.4%), from €16,909 to €12,951
- Gross operating margin +€4,737
up €4,737 (+19.0%), from €24,969 to €29,706
- Taxes +€2,898
up €2,898 (+84.1%), from €3,447 to €6,345
- Depreciation +€2,620
up €2,620 (+60.4%), from €4,335 to €6,955
- Financial charges +€407
up €407 (+57.0%), from €714 to €1,121
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,916 | €97,750 | -€15,166 | -13.4% |
| Fixed assets | 21/28 | €49,807 | €45,737 | -€4,070 | -8.2% |
| Intangible fixed assets | 21 | €8,630 | €7,130 | -€1,500 | -17.4% |
| Tangible fixed assets | 22/27 | €41,133 | €38,563 | -€2,570 | -6.2% |
| Furniture and vehicles | 24 | €902 | €1,756 | +€854 | +94.7% |
| Other tangible fixed assets | 26 | €40,231 | €36,807 | -€3,424 | -8.5% |
| Financial fixed assets | 28 | €44 | €44 | = | 0.0% |
| Current assets | 29/58 | €63,109 | €52,013 | -€11,096 | -17.6% |
| Amounts receivable within one year | 40/41 | €19,226 | €29,094 | +€9,868 | +51.3% |
| Trade receivables | 40 | €17,604 | €29,094 | +€11,490 | +65.3% |
| Other amounts receivable | 41 | €1,622 | - | -€1,622 | |
| Current investments | 50/53 | €38,191 | €22,061 | -€16,130 | -42.2% |
| Cash at bank and in hand | 54/58 | €4,444 | €476 | -€3,968 | -89.3% |
| Deferred charges and accrued income | 490/1 | €1,248 | €382 | -€866 | -69.4% |
| Total equity and liabilities | 10/49 | €112,916 | €97,750 | -€15,166 | -13.4% |
| Equity | 10/15 | €56,964 | €51,938 | -€5,026 | -8.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €51,779 | €46,753 | -€5,026 | -9.7% |
| Distributable reserves | 133 | €51,779 | €46,753 | -€5,026 | -9.7% |
| Profit (loss) carried forward | 14 | €185 | €185 | = | 0.0% |
| Amounts payable | 17/49 | €55,952 | €45,812 | -€10,140 | -18.1% |
| Amounts payable after more than one year | 17 | €16,909 | €12,951 | -€3,958 | -23.4% |
| Financial debts | 170/4 | €16,909 | €12,951 | -€3,958 | -23.4% |
| Amounts payable within one year | 42/48 | €39,028 | €32,861 | -€6,167 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €3,791 | €3,957 | +€166 | +4.4% |
| Trade debts | 44 | €25,861 | €3,628 | -€22,233 | -86.0% |
| Suppliers | 440/4 | €25,861 | €3,628 | -€22,233 | -86.0% |
| Taxes, remuneration and social security | 45 | €4,335 | €4,240 | -€95 | -2.2% |
| Taxes | 450/3 | €3,235 | €4,240 | +€1,005 | +31.1% |
| Remuneration and social security | 454/9 | €1,100 | - | -€1,100 | |
| Other amounts payable | 47/48 | €5,041 | €21,036 | +€15,995 | +317% |
| Accrued charges and deferred income | 492/3 | €15 | - | -€15 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,335 | €6,955 | +€2,620 | +60.4% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €24,969 | €29,706 | +€4,737 | +19.0% |
| Operating profit (loss) | 9901 | €20,247 | €22,351 | +€2,104 | +10.4% |
| Financial income | 75/76B | €60 | €89 | +€29 | +48.3% |
| Recurring financial income | 75 | €60 | €89 | +€29 | +48.3% |
| Financial charges | 65/66B | €714 | €1,121 | +€407 | +57.0% |
| Recurring financial charges | 65 | €714 | €1,121 | +€407 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | €19,593 | €21,319 | +€1,726 | +8.8% |
| Income taxes | 67/77 | €3,447 | €6,345 | +€2,898 | +84.1% |
| Profit (loss) for the period | 9904 | €16,146 | €14,974 | -€1,172 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,146 | €14,974 | -€1,172 | -7.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.