MAGESCO: 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.
MAGESCO
Largest movements
- Receivables within one year -€11,598
down €11,598 (-21.9%), from €52,932 to €41,335
of which Other amounts receivable: -€15,833
- Cash -€6,176
down €6,176 (-77.6%), from €7,953 to €1,778
mainly Current portion of long-term debt (-€23,969) and Debts after one year (-€11,984)
- Deferred charges and accrued income -€2,877
down €2,877 (-53.1%), from €5,418 to €2,541
- Tangible fixed assets -€2,532
down €2,532 (-7.9%), from €31,889 to €29,357
of which Land and buildings: -€5,839
- Current portion of long-term debt -€23,969
down €23,969 (-66.7%), from €35,953 to €11,984
- Debts after one year -€11,984
no longer reported in 2025 (was €11,984)
- Tax, wage and social debts +€9,523
up €9,523 (+174.2%), from €5,466 to €14,988
- Profit (loss) carried forward +€2,212
up €2,212 (+6.4%), from -€34,352 to -€32,140
- Financial charges -€2,033
down €2,033 (-23.6%), from €8,626 to €6,593
- Gross operating margin -€1,735
down €1,735 (-9.2%), from €18,957 to €17,222
- Taxes +€1,040
up €1,040 (+18.9%), from €5,513 to €6,553
- Other operating charges -€705
down €705 (-25.8%), from €2,727 to €2,022
- Financial income +€358
up €358 (+3.6%), from €9,933 to €10,291
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 | €198,193 | €175,011 | -€23,182 | -11.7% |
| Fixed assets | 21/28 | €31,889 | €29,357 | -€2,532 | -7.9% |
| Tangible fixed assets | 22/27 | €31,889 | €29,357 | -€2,532 | -7.9% |
| Land and buildings | 22 | €10,342 | €4,503 | -€5,839 | -56.5% |
| Plant, machinery and equipment | 23 | €21,548 | €24,855 | +€3,307 | +15.3% |
| Current assets | 29/58 | €166,304 | €145,653 | -€20,650 | -12.4% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €52,932 | €41,335 | -€11,598 | -21.9% |
| Trade receivables | 40 | €34,514 | €38,749 | +€4,235 | +12.3% |
| Other amounts receivable | 41 | €18,418 | €2,586 | -€15,833 | -86.0% |
| Cash at bank and in hand | 54/58 | €7,953 | €1,778 | -€6,176 | -77.6% |
| Deferred charges and accrued income | 490/1 | €5,418 | €2,541 | -€2,877 | -53.1% |
| Total equity and liabilities | 10/49 | €198,193 | €175,011 | -€23,182 | -11.7% |
| Equity | 10/15 | €90,616 | €92,828 | +€2,212 | +2.4% |
| Contributions | 10/11 | €37,400 | €37,400 | = | 0.0% |
| Reserves | 13 | €87,568 | €87,568 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,360 | €4,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,360 | €4,360 | = | 0.0% |
| Distributable reserves | 133 | €83,208 | €83,208 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,352 | -€32,140 | +€2,212 | +6.4% |
| Amounts payable | 17/49 | €107,577 | €82,183 | -€25,394 | -23.6% |
| Amounts payable after more than one year | 17 | €11,984 | - | -€11,984 | |
| Financial debts | 170/4 | €11,984 | - | -€11,984 | |
| Amounts payable within one year | 42/48 | €94,467 | €81,712 | -€12,755 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €35,953 | €11,984 | -€23,969 | -66.7% |
| Trade debts | 44 | €32,625 | €33,304 | +€679 | +2.1% |
| Suppliers | 440/4 | €32,625 | €33,304 | +€679 | +2.1% |
| Taxes, remuneration and social security | 45 | €5,466 | €14,988 | +€9,523 | +174.2% |
| Taxes | 450/3 | €5,466 | €14,988 | +€9,523 | +174.2% |
| Other amounts payable | 47/48 | €20,423 | €21,435 | +€1,012 | +5.0% |
| Accrued charges and deferred income | 492/3 | €1,125 | €471 | -€655 | -58.2% |
| Non-recurring operating income | 76A | - | €750 | +€750 | |
| Remuneration, social security and pensions | 62 | -€101 | - | +€101 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,308 | €10,133 | -€175 | -1.7% |
| Other operating charges | 640/8 | €2,727 | €2,022 | -€705 | -25.8% |
| Gross operating margin | 9900 | €18,957 | €17,222 | -€1,735 | -9.2% |
| Operating profit (loss) | 9901 | €6,023 | €5,067 | -€957 | -15.9% |
| Financial income | 75/76B | €9,933 | €10,291 | +€358 | +3.6% |
| Recurring financial income | 75 | €9,933 | €10,291 | +€358 | +3.6% |
| Financial charges | 65/66B | €8,626 | €6,593 | -€2,033 | -23.6% |
| Recurring financial charges | 65 | €8,626 | €6,593 | -€2,033 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €7,330 | €8,765 | +€1,435 | +19.6% |
| Income taxes | 67/77 | €5,513 | €6,553 | +€1,040 | +18.9% |
| Profit (loss) for the period | 9904 | €1,817 | €2,212 | +€394 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,817 | €2,212 | +€394 | +21.7% |
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 2 October 2026 via checked.be.