MAGESTIN: 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.
MAGESTIN
Largest movements
- Receivables within one year +€57,560
up €57,560 (+69.6%), from €82,659 to €140,218
of which Other amounts receivable: +€41,841
- Tangible fixed assets -€7,925
down €7,925 (-15.0%), from €52,801 to €44,876
of which Furniture and vehicles: -€5,516
- Cash -€6,372
down €6,372 (-91.9%), from €6,934 to €562
mainly Receivables within one year (-€57,560) and Debts after one year (-€16,217)
- Reserves +€54,561
up €54,561 (+137%), from €39,712 to €94,273
of which Distributable reserves: +€54,561
- Tax, wage and social debts +€19,561
up €19,561 (+59.8%), from €32,731 to €52,293
- Debts after one year -€16,217
down €16,217 (-100%), from €16,217 to €0
- Other debts -€11,136
down €11,136 (-36.6%), from €30,410 to €19,274
- Current portion of long-term debt -€3,507
down €3,507 (-74.2%), from €4,723 to €1,217
- Gross operating margin -€18,166
down €18,166 (-16.3%), from €111,134 to €92,968
- Taxes +€7,282
up €7,282 (+32.7%), from €22,284 to €29,566
- Other operating charges -€6,517
down €6,517 (-70.6%), from €9,232 to €2,715
- Financial income +€1,211
up €1,211 (+79.3%), from €1,528 to €2,738
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 | €142,394 | €185,657 | +€43,263 | +30.4% |
| Fixed assets | 21/28 | €52,801 | €44,876 | -€7,925 | -15.0% |
| Tangible fixed assets | 22/27 | €52,801 | €44,876 | -€7,925 | -15.0% |
| Land and buildings | 22 | €45,923 | €43,515 | -€2,408 | -5.2% |
| Furniture and vehicles | 24 | €6,878 | €1,361 | -€5,516 | -80.2% |
| Current assets | 29/58 | €89,593 | €140,781 | +€51,188 | +57.1% |
| Amounts receivable within one year | 40/41 | €82,659 | €140,218 | +€57,560 | +69.6% |
| Trade receivables | 40 | €37,737 | €53,456 | +€15,719 | +41.7% |
| Other amounts receivable | 41 | €44,922 | €86,762 | +€41,841 | +93.1% |
| Cash at bank and in hand | 54/58 | €6,934 | €562 | -€6,372 | -91.9% |
| Total equity and liabilities | 10/49 | €142,394 | €185,657 | +€43,263 | +30.4% |
| Equity | 10/15 | €58,312 | €112,873 | +€54,561 | +93.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,712 | €94,273 | +€54,561 | +137% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,852 | €92,413 | +€54,561 | +144% |
| Amounts payable | 17/49 | €84,082 | €72,784 | -€11,298 | -13.4% |
| Amounts payable after more than one year | 17 | €16,217 | €0 | -€16,217 | -100% |
| Financial debts | 170/4 | €16,217 | €0 | -€16,217 | -100% |
| Amounts payable within one year | 42/48 | €67,865 | €72,784 | +€4,919 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €4,723 | €1,217 | -€3,507 | -74.2% |
| Taxes, remuneration and social security | 45 | €32,731 | €52,293 | +€19,561 | +59.8% |
| Taxes | 450/3 | €32,731 | €52,293 | +€19,561 | +59.8% |
| Other amounts payable | 47/48 | €30,410 | €19,274 | -€11,136 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,925 | €7,925 | = | 0.0% |
| Other operating charges | 640/8 | €9,232 | €2,715 | -€6,517 | -70.6% |
| Gross operating margin | 9900 | €111,134 | €92,968 | -€18,166 | -16.3% |
| Operating profit (loss) | 9901 | €93,978 | €82,329 | -€11,649 | -12.4% |
| Financial income | 75/76B | €1,528 | €2,738 | +€1,211 | +79.3% |
| Recurring financial income | 75 | €1,528 | €2,738 | +€1,211 | +79.3% |
| Financial charges | 65/66B | €2,039 | €940 | -€1,099 | -53.9% |
| Recurring financial charges | 65 | €2,039 | €940 | -€1,099 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €93,466 | €84,127 | -€9,339 | -10.0% |
| Income taxes | 67/77 | €22,284 | €29,566 | +€7,282 | +32.7% |
| Profit (loss) for the period | 9904 | €71,182 | €54,561 | -€16,621 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,182 | €54,561 | -€16,621 | -23.4% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.