MAGEST: 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.
MAGEST
Largest movements
- Receivables within one year +€39,254
up €39,254 (+33.8%), from €116,287 to €155,542
of which Trade receivables: +€41,642
- Other debts +€26,928
up €26,928 (+2.2%), from €1.2m to €1.3m
- Gross operating margin +€6,210
up €6,210 (+198%), from €3,139 to €9,349
- Depreciation +€3,205
up €3,205 (+122%), from €2,629 to €5,834
- Financial income +€1,272
new in 2025: €1,272
- Financial charges -€375
down €375 (-31.5%), from €1,190 to €815
- Other operating charges +€115
up €115 (+5.5%), from €2,085 to €2,200
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 | €1,292,268 | €1,324,071 | +€31,803 | +2.5% |
| Fixed assets | 21/28 | €1,171,650 | €1,165,816 | -€5,834 | -0.5% |
| Tangible fixed assets | 22/27 | €28,100 | €22,266 | -€5,834 | -20.8% |
| Furniture and vehicles | 24 | €22,349 | €17,159 | -€5,190 | -23.2% |
| Other tangible fixed assets | 26 | €5,751 | €5,107 | -€644 | -11.2% |
| Financial fixed assets | 28 | €1,143,550 | €1,143,550 | = | 0.0% |
| Current assets | 29/58 | €120,619 | €158,255 | +€37,636 | +31.2% |
| Amounts receivable within one year | 40/41 | €116,287 | €155,542 | +€39,254 | +33.8% |
| Trade receivables | 40 | €113,900 | €155,542 | +€41,642 | +36.6% |
| Other amounts receivable | 41 | €2,387 | - | -€2,387 | |
| Cash at bank and in hand | 54/58 | €3,542 | €1,884 | -€1,659 | -46.8% |
| Deferred charges and accrued income | 490/1 | €789 | €830 | +€41 | +5.2% |
| Total equity and liabilities | 10/49 | €1,292,268 | €1,324,071 | +€31,803 | +2.5% |
| Equity | 10/15 | €63,165 | €64,738 | +€1,574 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,905 | €50,478 | +€1,574 | +3.2% |
| Amounts payable | 17/49 | €1,229,103 | €1,259,333 | +€30,229 | +2.5% |
| Amounts payable within one year | 42/48 | €1,229,103 | €1,259,333 | +€30,229 | +2.5% |
| Trade debts | 44 | €3,530 | €4,882 | +€1,352 | +38.3% |
| Suppliers | 440/4 | €3,530 | €4,882 | +€1,352 | +38.3% |
| Taxes, remuneration and social security | 45 | €250 | €2,199 | +€1,949 | +780% |
| Taxes | 450/3 | €250 | €2,199 | +€1,949 | +780% |
| Other amounts payable | 47/48 | €1,225,324 | €1,252,252 | +€26,928 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,629 | €5,834 | +€3,205 | +122% |
| Other operating charges | 640/8 | €2,085 | €2,200 | +€115 | +5.5% |
| Gross operating margin | 9900 | €3,139 | €9,349 | +€6,210 | +198% |
| Operating profit (loss) | 9901 | -€1,574 | €1,316 | +€2,890 | |
| Financial income | 75/76B | - | €1,272 | +€1,272 | |
| Recurring financial income | 75 | - | €1,272 | +€1,272 | |
| Financial charges | 65/66B | €1,190 | €815 | -€375 | -31.5% |
| Recurring financial charges | 65 | €1,190 | €815 | -€375 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,764 | €1,773 | +€4,537 | |
| Income taxes | 67/77 | €297 | €199 | -€98 | -33.0% |
| Profit (loss) for the period | 9904 | -€3,062 | €1,574 | +€4,635 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,062 | €1,574 | +€4,635 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.