MAGESTUP: 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.
MAGESTUP
Largest movements
- Tangible fixed assets -€20,444
down €20,444 (-27.2%), from €75,150 to €54,706
of which Leasing and similar rights: -€21,954
- Debts after one year -€60,655
down €60,655 (-61.4%), from €98,713 to €38,058
of which Financial debts: -€30,888
- Other debts +€42,379
new in 2025: €42,379
- Short-term financial debts +€12,641
up €12,641 (+1,025%), from €1,233 to €13,875
- Profit (loss) carried forward -€12,275
down €12,275 (-4.8%), from €255,045 to €242,770
- Current portion of long-term debt -€11,315
down €11,315 (-24.5%), from €46,120 to €34,804
- Gross operating margin -€10,997
down €10,997 (-11.6%), from €95,066 to €84,069
- Financial charges -€4,383
down €4,383 (-47.1%), from €9,311 to €4,929
- Taxes -€3,320
down €3,320 (-15.5%), from €21,366 to €18,045
- Depreciation +€2,537
up €2,537 (+12.9%), from €19,598 to €22,135
- Staff costs -€2,319
down €2,319 (-91.6%), from €2,531 to €212
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 | €432,548 | €415,226 | -€17,322 | -4.0% |
| Fixed assets | 21/28 | €403,957 | €383,512 | -€20,444 | -5.1% |
| Tangible fixed assets | 22/27 | €75,150 | €54,706 | -€20,444 | -27.2% |
| Furniture and vehicles | 24 | €0 | €1,509 | +€1,509 | |
| Leasing and similar rights | 25 | €75,150 | €53,196 | -€21,954 | -29.2% |
| Financial fixed assets | 28 | €328,807 | €328,807 | = | 0.0% |
| Current assets | 29/58 | €28,591 | €31,714 | +€3,123 | +10.9% |
| Amounts receivable within one year | 40/41 | €28,046 | €30,623 | +€2,577 | +9.2% |
| Trade receivables | 40 | €18,284 | €18,284 | = | 0.0% |
| Other amounts receivable | 41 | €9,761 | €12,339 | +€2,577 | +26.4% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €546 | €1,091 | +€546 | +100% |
| Total equity and liabilities | 10/49 | €432,548 | €415,226 | -€17,322 | -4.0% |
| Equity | 10/15 | €275,505 | €263,230 | -€12,275 | -4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €255,045 | €242,770 | -€12,275 | -4.8% |
| Amounts payable | 17/49 | €157,043 | €151,996 | -€5,047 | -3.2% |
| Amounts payable after more than one year | 17 | €98,713 | €38,058 | -€60,655 | -61.4% |
| Financial debts | 170/4 | €64,306 | €33,417 | -€30,888 | -48.0% |
| Other amounts payable | 178/9 | €34,407 | €4,641 | -€29,766 | -86.5% |
| Amounts payable within one year | 42/48 | €58,330 | €113,938 | +€55,607 | +95.3% |
| Current portion of amounts payable after more than one year | 42 | €46,120 | €34,804 | -€11,315 | -24.5% |
| Financial debts | 43 | €1,233 | €13,875 | +€12,641 | +1,025% |
| Credit institutions | 430/8 | €1,233 | €13,875 | +€12,641 | +1,025% |
| Trade debts | 44 | €1,330 | €4,142 | +€2,812 | +211% |
| Suppliers | 440/4 | €1,330 | €4,142 | +€2,812 | +211% |
| Taxes, remuneration and social security | 45 | €9,647 | €18,738 | +€9,090 | +94.2% |
| Taxes | 450/3 | €9,647 | €16,524 | +€6,876 | +71.3% |
| Remuneration and social security | 454/9 | - | €2,214 | +€2,214 | |
| Other amounts payable | 47/48 | - | €42,379 | +€42,379 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,531 | €212 | -€2,319 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,598 | €22,135 | +€2,537 | +12.9% |
| Other operating charges | 640/8 | €1,484 | €1,022 | -€462 | -31.1% |
| Non-recurring operating charges | 66A | €1,395 | €0 | -€1,395 | -100% |
| Gross operating margin | 9900 | €95,066 | €84,069 | -€10,997 | -11.6% |
| Operating profit (loss) | 9901 | €70,057 | €60,699 | -€9,358 | -13.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €9,311 | €4,929 | -€4,383 | -47.1% |
| Recurring financial charges | 65 | €9,311 | €4,929 | -€4,383 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €60,746 | €55,771 | -€4,975 | -8.2% |
| Income taxes | 67/77 | €21,366 | €18,045 | -€3,320 | -15.5% |
| Profit (loss) for the period | 9904 | €39,380 | €37,725 | -€1,655 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,380 | €37,725 | -€1,655 | -4.2% |
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 14 October 2026 via checked.be.