MAGETEX: 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.
MAGETEX
Largest movements
- Receivables within one year -€98,801
down €98,801 (-72.8%), from €135,677 to €36,876
of which Other amounts receivable: -€120,118
- Current investments +€95,965
up €95,965 (+96.0%), from €100,000 to €195,965
- Cash -€83,585
down €83,585 (-12.6%), from €664,478 to €580,893
mainly Contributions, distributions and other (-€98,359) and Current investments (-€95,965)
- Tangible fixed assets -€27,305
down €27,305 (-15.1%), from €180,886 to €153,581
of which Other tangible fixed assets: -€18,331
- Stocks and contracts +€15,151
up €15,151 (+27.7%), from €54,755 to €69,906
- Trade debts -€61,060
down €61,060 (-73.5%), from €83,046 to €21,987
- Tax, wage and social debts -€32,999
down €32,999 (-23.6%), from €139,652 to €106,653
of which Taxes: -€20,735
- Debts after one year -€16,518
down €16,518 (-11.2%), from €147,686 to €131,168
- Reserves +€12,830
up €12,830 (+1.8%), from €725,162 to €737,991
of which Distributable reserves: +€12,830
- Gross operating margin -€31,230
down €31,230 (-8.0%), from €389,797 to €358,567
- Write-downs -€12,944
down €12,944, from €6,528 to -€6,416
- Taxes -€5,997
down €5,997 (-11.0%), from €54,417 to €48,420
- Other operating charges +€4,685
up €4,685 (+200%), from €2,344 to €7,028
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 | €1,141,510 | €1,045,298 | -€96,212 | -8.4% |
| Fixed assets | 21/28 | €180,886 | €153,581 | -€27,305 | -15.1% |
| Tangible fixed assets | 22/27 | €180,886 | €153,581 | -€27,305 | -15.1% |
| Plant, machinery and equipment | 23 | €2,812 | €1,029 | -€1,783 | -63.4% |
| Furniture and vehicles | 24 | €16,414 | €9,224 | -€7,190 | -43.8% |
| Other tangible fixed assets | 26 | €161,659 | €143,328 | -€18,331 | -11.3% |
| Current assets | 29/58 | €960,624 | €891,717 | -€68,908 | -7.2% |
| Stocks and contracts in progress | 3 | €54,755 | €69,906 | +€15,151 | +27.7% |
| Stocks | 30/36 | €54,755 | €69,906 | +€15,151 | +27.7% |
| Amounts receivable within one year | 40/41 | €135,677 | €36,876 | -€98,801 | -72.8% |
| Trade receivables | 40 | €12,441 | €33,758 | +€21,317 | +171% |
| Other amounts receivable | 41 | €123,235 | €3,117 | -€120,118 | -97.5% |
| Current investments | 50/53 | €100,000 | €195,965 | +€95,965 | +96.0% |
| Cash at bank and in hand | 54/58 | €664,478 | €580,893 | -€83,585 | -12.6% |
| Deferred charges and accrued income | 490/1 | €5,715 | €8,077 | +€2,362 | +41.3% |
| Total equity and liabilities | 10/49 | €1,141,510 | €1,045,298 | -€96,212 | -8.4% |
| Equity | 10/15 | €727,162 | €739,991 | +€12,830 | +1.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €725,162 | €737,991 | +€12,830 | +1.8% |
| Tax-exempt reserves | 132 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €708,162 | €720,991 | +€12,830 | +1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €414,348 | €305,306 | -€109,042 | -26.3% |
| Amounts payable after more than one year | 17 | €147,686 | €131,168 | -€16,518 | -11.2% |
| Financial debts | 170/4 | €147,686 | €131,168 | -€16,518 | -11.2% |
| Amounts payable within one year | 42/48 | €266,663 | €174,138 | -€92,525 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €16,254 | €16,518 | +€264 | +1.6% |
| Trade debts | 44 | €83,046 | €21,987 | -€61,060 | -73.5% |
| Suppliers | 440/4 | €83,046 | €21,987 | -€61,060 | -73.5% |
| Taxes, remuneration and social security | 45 | €139,652 | €106,653 | -€32,999 | -23.6% |
| Taxes | 450/3 | €93,214 | €72,479 | -€20,735 | -22.2% |
| Remuneration and social security | 454/9 | €46,438 | €34,174 | -€12,264 | -26.4% |
| Other amounts payable | 47/48 | €27,710 | €28,981 | +€1,270 | +4.6% |
| Remuneration, social security and pensions | 62 | €150,342 | €148,727 | -€1,614 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,387 | €33,543 | -€1,845 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,528 | -€6,416 | -€12,944 | |
| Other operating charges | 640/8 | €2,344 | €7,028 | +€4,685 | +200% |
| Gross operating margin | 9900 | €389,797 | €358,567 | -€31,230 | -8.0% |
| Operating profit (loss) | 9901 | €195,197 | €175,685 | -€19,512 | -10.0% |
| Financial income | 75/76B | €2,740 | €2,496 | -€243 | -8.9% |
| Recurring financial income | 75 | €2,740 | €2,496 | -€243 | -8.9% |
| Financial charges | 65/66B | €16,262 | €18,572 | +€2,310 | +14.2% |
| Recurring financial charges | 65 | €16,262 | €18,572 | +€2,310 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €181,674 | €159,609 | -€22,065 | -12.1% |
| Income taxes | 67/77 | €54,417 | €48,420 | -€5,997 | -11.0% |
| Profit (loss) for the period | 9904 | €127,257 | €111,189 | -€16,068 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €127,257 | €111,189 | -€16,068 | -12.6% |
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 17 October 2026 via checked.be.