MAGIBEL: 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.
MAGIBEL
Largest movements
- Tangible fixed assets -€9,210
down €9,210 (-7.9%), from €116,981 to €107,772
of which Land and buildings: -€9,210
- Cash -€8,736
down €8,736 (-34.0%), from €25,718 to €16,982
mainly Debts after one year (-€7,558) and Other debts (-€4,427)
- Debts after one year -€7,558
down €7,558 (-70.3%), from €10,750 to €3,192
- Other debts -€4,427
down €4,427 (-69.4%), from €6,379 to €1,952
- Reserves -€4,391
down €4,391 (-8.2%), from €53,653 to €49,262
of which Distributable reserves: -€4,391
- Tax, wage and social debts -€2,502
no longer reported in 2025 (was €2,502)
- Gross operating margin -€13,881
down €13,881 (-60.0%), from €23,122 to €9,241
- Taxes -€2,502
no longer reported in 2025 (was €2,502)
- Other operating charges -€2,457
down €2,457 (-43.8%), from €5,616 to €3,159
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 | €142,699 | €124,753 | -€17,945 | -12.6% |
| Fixed assets | 21/28 | €116,981 | €107,772 | -€9,210 | -7.9% |
| Tangible fixed assets | 22/27 | €116,981 | €107,772 | -€9,210 | -7.9% |
| Land and buildings | 22 | €96,041 | €86,832 | -€9,210 | -9.6% |
| Furniture and vehicles | 24 | €20,940 | €20,940 | = | 0.0% |
| Current assets | 29/58 | €25,718 | €16,982 | -€8,736 | -34.0% |
| Cash at bank and in hand | 54/58 | €25,718 | €16,982 | -€8,736 | -34.0% |
| Total equity and liabilities | 10/49 | €142,699 | €124,753 | -€17,945 | -12.6% |
| Equity | 10/15 | €115,653 | €111,262 | -€4,391 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €53,653 | €49,262 | -€4,391 | -8.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €47,453 | €43,062 | -€4,391 | -9.3% |
| Amounts payable | 17/49 | €27,046 | €13,491 | -€13,555 | -50.1% |
| Amounts payable after more than one year | 17 | €10,750 | €3,192 | -€7,558 | -70.3% |
| Financial debts | 170/4 | €10,750 | €3,192 | -€7,558 | -70.3% |
| Amounts payable within one year | 42/48 | €16,296 | €10,300 | -€5,997 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €7,415 | €7,558 | +€143 | +1.9% |
| Trade debts | 44 | - | €790 | +€790 | |
| Suppliers | 440/4 | - | €790 | +€790 | |
| Taxes, remuneration and social security | 45 | €2,502 | - | -€2,502 | |
| Taxes | 450/3 | €2,502 | - | -€2,502 | |
| Other amounts payable | 47/48 | €6,379 | €1,952 | -€4,427 | -69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,718 | €9,815 | +€97 | +1.0% |
| Other operating charges | 640/8 | €5,616 | €3,159 | -€2,457 | -43.8% |
| Gross operating margin | 9900 | €23,122 | €9,241 | -€13,881 | -60.0% |
| Operating profit (loss) | 9901 | €7,788 | -€3,733 | -€11,521 | |
| Financial charges | 65/66B | €825 | €658 | -€168 | -20.3% |
| Recurring financial charges | 65 | €825 | €658 | -€168 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €6,963 | -€4,391 | -€11,353 | |
| Income taxes | 67/77 | €2,502 | - | -€2,502 | |
| Profit (loss) for the period | 9904 | €4,460 | -€4,391 | -€8,851 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,460 | -€4,391 | -€8,851 |
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 12 October 2026 via checked.be.