MAGESCA: 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.
MAGESCA
Largest movements
- Current investments +€1.6m
new in 2025: €1.6m
- Cash -€1.5m
down €1.5m (-98.5%), from €1.5m to €23,545
mainly Current investments (-€1.6m) and Trade debts (-€90,650)
- Deferred charges and accrued income -€166,765
down €166,765 (-82.8%), from €201,445 to €34,680
- Receivables within one year +€26,897
up €26,897 (+2295.8%), from €1,172 to €28,068
- Trade debts -€90,650
no longer reported in 2025 (was €90,650)
- Reserves +€72,252
up €72,252 (+5.2%), from €1.4m to €1.5m
- Tax, wage and social debts -€44,907
down €44,907 (-39.2%), from €114,630 to €69,723
- Gross operating margin -€113,618
down €113,618 (-54.3%), from €209,060 to €95,442
- Taxes -€41,340
down €41,340 (-52.1%), from €79,309 to €37,969
- Financial income -€18,481
down €18,481 (-53.6%), from €34,506 to €16,025
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.
Cash bridge derived
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 | €1,780,717 | €1,717,411 | -€63,306 | -3.6% |
| Fixed assets | 21/28 | €31,117 | €31,117 | = | 0.0% |
| Tangible fixed assets | 22/27 | €31,117 | €31,117 | = | 0.0% |
| Land and buildings | 22 | €31,117 | €31,117 | = | 0.0% |
| Current assets | 29/58 | €1,749,599 | €1,686,294 | -€63,306 | -3.6% |
| Amounts receivable within one year | 40/41 | €1,172 | €28,068 | +€26,897 | +2295.8% |
| Other amounts receivable | 41 | €1,172 | €28,068 | +€26,897 | +2295.8% |
| Current investments | 50/53 | - | €1,600,000 | +€1.6m | |
| Cash at bank and in hand | 54/58 | €1,546,983 | €23,545 | -€1.5m | -98.5% |
| Deferred charges and accrued income | 490/1 | €201,445 | €34,680 | -€166,765 | -82.8% |
| Total equity and liabilities | 10/49 | €1,780,717 | €1,717,411 | -€63,306 | -3.6% |
| Equity | 10/15 | €1,496,374 | €1,568,626 | +€72,252 | +4.8% |
| Contributions | 10/11 | €115,600 | €115,600 | = | 0.0% |
| Capital | 10 | €115,600 | €115,600 | = | 0.0% |
| Issued capital | 100 | €115,600 | €115,600 | = | 0.0% |
| Reserves | 13 | €1,380,774 | €1,453,026 | +€72,252 | +5.2% |
| Distributable reserves | 133 | €1,380,774 | €1,453,026 | +€72,252 | +5.2% |
| Amounts payable | 17/49 | €284,342 | €148,785 | -€135,557 | -47.7% |
| Amounts payable within one year | 42/48 | €284,342 | €148,785 | -€135,557 | -47.7% |
| Trade debts | 44 | €90,650 | - | -€90,650 | |
| Suppliers | 440/4 | €90,650 | - | -€90,650 | |
| Taxes, remuneration and social security | 45 | €114,630 | €69,723 | -€44,907 | -39.2% |
| Taxes | 450/3 | €114,630 | €69,723 | -€44,907 | -39.2% |
| Other amounts payable | 47/48 | €79,063 | €79,063 | = | 0.0% |
| Other operating charges | 640/8 | €1,020 | €998 | -€21 | -2.1% |
| Gross operating margin | 9900 | €209,060 | €95,442 | -€113,618 | -54.3% |
| Operating profit (loss) | 9901 | €208,040 | €94,444 | -€113,597 | -54.6% |
| Financial income | 75/76B | €34,506 | €16,025 | -€18,481 | -53.6% |
| Recurring financial income | 75 | €34,506 | €16,025 | -€18,481 | -53.6% |
| Financial charges | 65/66B | €222 | €248 | +€26 | +11.8% |
| Recurring financial charges | 65 | €222 | €248 | +€26 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €242,324 | €110,221 | -€132,104 | -54.5% |
| Income taxes | 67/77 | €79,309 | €37,969 | -€41,340 | -52.1% |
| Profit (loss) for the period | 9904 | €163,015 | €72,252 | -€90,764 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €163,015 | €72,252 | -€90,764 | -55.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.