MAGEX: what changed
Two fiscal 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.
MAGEX
Largest movements
- Tangible fixed assets -€10,248
down €10,248 (-3.4%), from €300,067 to €289,819
of which Land and buildings: -€8,796
- Debts after one year -€6,990
down €6,990 (-1.8%), from €398,701 to €391,711
- Gross operating margin +€14,448
up €14,448 (+895.0%), from €1,614 to €16,063
- Other operating charges +€2,646
up €2,646 (+66.6%), from €3,972 to €6,619
- Depreciation -€1,065
down €1,065 (-10.1%), from €10,558 to €9,493
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 | €305,184 | €295,773 | -€9,411 | -3.1% |
| Fixed assets | 21/28 | €300,067 | €289,819 | -€10,248 | -3.4% |
| Tangible fixed assets | 22/27 | €300,067 | €289,819 | -€10,248 | -3.4% |
| Land and buildings | 22 | €294,229 | €285,433 | -€8,796 | -3.0% |
| Plant, machinery and equipment | 23 | €2,505 | €2,079 | -€426 | -17.0% |
| Furniture and vehicles | 24 | €3,333 | €2,307 | -€1,026 | -30.8% |
| Current assets | 29/58 | €5,118 | €5,954 | +€836 | +16.3% |
| Amounts receivable within one year | 40/41 | €2,815 | €3,283 | +€468 | +16.6% |
| Trade receivables | 40 | €2,815 | €3,283 | +€468 | +16.6% |
| Cash at bank and in hand | 54/58 | €611 | €702 | +€91 | +14.8% |
| Deferred charges and accrued income | 490/1 | €1,691 | €1,969 | +€278 | +16.4% |
| Total equity and liabilities | 10/49 | €305,184 | €295,773 | -€9,411 | -3.1% |
| Equity | 10/15 | -€126,232 | -€126,362 | -€130 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€144,832 | -€144,962 | -€130 | -0.1% |
| Amounts payable | 17/49 | €431,417 | €422,135 | -€9,282 | -2.2% |
| Amounts payable after more than one year | 17 | €398,701 | €391,711 | -€6,990 | -1.8% |
| Other amounts payable | 178/9 | €398,701 | €391,711 | -€6,990 | -1.8% |
| Amounts payable within one year | 42/48 | €32,149 | €29,856 | -€2,293 | -7.1% |
| Trade debts | 44 | €383 | €116 | -€267 | -69.6% |
| Suppliers | 440/4 | €383 | €116 | -€267 | -69.6% |
| Taxes, remuneration and social security | 45 | €474 | €1,137 | +€664 | +140.2% |
| Taxes | 450/3 | €474 | €1,137 | +€664 | +140.2% |
| Other amounts payable | 47/48 | €31,293 | €28,603 | -€2,690 | -8.6% |
| Accrued charges and deferred income | 492/3 | €566 | €567 | +€1 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,558 | €9,493 | -€1,065 | -10.1% |
| Other operating charges | 640/8 | €3,972 | €6,619 | +€2,646 | +66.6% |
| Gross operating margin | 9900 | €1,614 | €16,063 | +€14,448 | +895.0% |
| Operating profit (loss) | 9901 | -€12,917 | -€49 | +€12,868 | +99.6% |
| Financial charges | 65/66B | €67 | €81 | +€14 | +20.1% |
| Recurring financial charges | 65 | €67 | €81 | +€14 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,984 | -€130 | +€12,854 | +99.0% |
| Profit (loss) for the period | 9904 | -€12,984 | -€130 | +€12,854 | +99.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,984 | -€130 | +€12,854 | +99.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.