MAGESP: 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.
MAGESP
Largest movements
- Receivables within one year -€23,148
down €23,148 (-23.1%), from €100,326 to €77,179
of which Other amounts receivable: -€18,833
- Cash +€4,598
up €4,598 (+2368.7%), from €194 to €4,792
mainly Net result for the year (+€28,448) and Receivables within one year (+€23,148)
- Deferred charges and accrued income -€1,672
no longer reported in 2025 (was €1,672)
- Tax, wage and social debts -€45,760
down €45,760 (-85.4%), from €53,558 to €7,798
of which Taxes: -€24,328
- Reserves +€18,834
up €18,834 (+35.1%), from €53,667 to €72,500
- Profit (loss) carried forward +€9,614
no longer reported in 2025 (was -€9,614)
- Trade debts -€3,239
down €3,239 (-84.8%), from €3,821 to €582
- Gross operating margin +€47,165
up €47,165, from -€8,453 to €38,712
- Taxes +€6,947
up €6,947 (+3746.1%), from €185 to €7,133
- Financial charges +€2,714
up €2,714 (+372.4%), from €729 to €3,443
- Other operating charges +€1,508
up €1,508 (+454.4%), from €332 to €1,840
- Financial income +€1,444
up €1,444 (+139.2%), from €1,037 to €2,481
of which Non-recurring financial income: +€1,920
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 | €102,932 | €82,381 | -€20,551 | -20.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €740 | €410 | -€330 | -44.6% |
| Tangible fixed assets | 22/27 | €740 | €410 | -€330 | -44.6% |
| Plant, machinery and equipment | 23 | €740 | €410 | -€330 | -44.6% |
| Current assets | 29/58 | €102,192 | €81,971 | -€20,221 | -19.8% |
| Amounts receivable within one year | 40/41 | €100,326 | €77,179 | -€23,148 | -23.1% |
| Trade receivables | 40 | €4,315 | - | -€4,315 | |
| Other amounts receivable | 41 | €96,011 | €77,179 | -€18,833 | -19.6% |
| Cash at bank and in hand | 54/58 | €194 | €4,792 | +€4,598 | +2368.7% |
| Deferred charges and accrued income | 490/1 | €1,672 | - | -€1,672 | |
| Total equity and liabilities | 10/49 | €102,932 | €82,381 | -€20,551 | -20.0% |
| Equity | 10/15 | €45,553 | €74,000 | +€28,448 | +62.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €53,667 | €72,500 | +€18,834 | +35.1% |
| Distributable reserves | 133 | €53,667 | €72,500 | +€18,834 | +35.1% |
| Profit (loss) carried forward | 14 | -€9,614 | - | +€9,614 | |
| Amounts payable | 17/49 | €57,379 | €8,380 | -€48,999 | -85.4% |
| Amounts payable within one year | 42/48 | €57,379 | €8,380 | -€48,999 | -85.4% |
| Trade debts | 44 | €3,821 | €582 | -€3,239 | -84.8% |
| Suppliers | 440/4 | €3,821 | €582 | -€3,239 | -84.8% |
| Taxes, remuneration and social security | 45 | €53,558 | €7,798 | -€45,760 | -85.4% |
| Taxes | 450/3 | €32,126 | €7,798 | -€24,328 | -75.7% |
| Remuneration and social security | 454/9 | €21,432 | - | -€21,432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €952 | €330 | -€622 | -65.3% |
| Other operating charges | 640/8 | €332 | €1,840 | +€1,508 | +454.4% |
| Gross operating margin | 9900 | -€8,453 | €38,712 | +€47,165 | |
| Operating profit (loss) | 9901 | -€9,737 | €36,542 | +€46,279 | |
| Financial income | 75/76B | €1,037 | €2,481 | +€1,444 | +139.2% |
| Recurring financial income | 75 | €1,037 | €561 | -€476 | -45.9% |
| Non-recurring financial income | 76B | - | €1,920 | +€1,920 | |
| Financial charges | 65/66B | €729 | €3,443 | +€2,714 | +372.4% |
| Recurring financial charges | 65 | €729 | €3,443 | +€2,714 | +372.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,429 | €35,580 | +€45,009 | |
| Income taxes | 67/77 | €185 | €7,133 | +€6,947 | +3746.1% |
| Profit (loss) for the period | 9904 | -€9,614 | €28,448 | +€38,062 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,614 | €28,448 | +€38,062 |
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 11 October 2026 via checked.be.