MAGIC: 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.
MAGIC
Largest movements
- Receivables within one year -€120,435
down €120,435 (-87.7%), from €137,278 to €16,843
of which Trade receivables: -€120,553
- Cash +€14,141
up €14,141 (+115%), from €12,262 to €26,403
mainly Receivables within one year (+€120,435) and Other debts (+€16,810)
- Deferred charges and accrued income -€2,522
down €2,522 (-77.8%), from €3,240 to €719
- Tangible fixed assets +€2,028
up €2,028 (+43.9%), from €4,615 to €6,644
- Trade debts -€82,653
down €82,653 (-72.9%), from €113,430 to €30,777
- Profit (loss) carried forward -€39,020
down €39,020 (-29.0%), from -€134,685 to -€173,705
- Other debts +€16,810
up €16,810 (+27.8%), from €60,537 to €77,347
- Tax, wage and social debts -€4,977
down €4,977 (-79.5%), from €6,257 to €1,281
- Accrued charges and deferred income +€3,052
up €3,052 (+26.6%), from €11,460 to €14,512
- Gross operating margin -€41,731
down €41,731, from €9,864 to -€31,866
- Taxes -€3,765
down €3,765 (-91.4%), from €4,119 to €355
- Other operating charges +€1,003
up €1,003 (+28.9%), from €3,466 to €4,469
- Depreciation +€646
up €646 (+51.6%), from €1,251 to €1,896
- Financial charges +€601
up €601 (+95.2%), from €631 to €1,232
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 | €157,396 | €50,609 | -€106,787 | -67.8% |
| Fixed assets | 21/28 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Tangible fixed assets | 22/27 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Furniture and vehicles | 24 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Current assets | 29/58 | €152,781 | €43,965 | -€108,816 | -71.2% |
| Amounts receivable within one year | 40/41 | €137,278 | €16,843 | -€120,435 | -87.7% |
| Trade receivables | 40 | €133,381 | €12,827 | -€120,553 | -90.4% |
| Other amounts receivable | 41 | €3,897 | €4,016 | +€119 | +3.0% |
| Cash at bank and in hand | 54/58 | €12,262 | €26,403 | +€14,141 | +115% |
| Deferred charges and accrued income | 490/1 | €3,240 | €719 | -€2,522 | -77.8% |
| Total equity and liabilities | 10/49 | €157,396 | €50,609 | -€106,787 | -67.8% |
| Equity | 10/15 | -€34,288 | -€73,308 | -€39,020 | -114% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €38,424 | €38,424 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €32,226 | €32,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,685 | -€173,705 | -€39,020 | -29.0% |
| Amounts payable | 17/49 | €191,684 | €123,917 | -€67,767 | -35.4% |
| Amounts payable within one year | 42/48 | €180,224 | €109,404 | -€70,820 | -39.3% |
| Trade debts | 44 | €113,430 | €30,777 | -€82,653 | -72.9% |
| Suppliers | 440/4 | €113,430 | €30,777 | -€82,653 | -72.9% |
| Taxes, remuneration and social security | 45 | €6,257 | €1,281 | -€4,977 | -79.5% |
| Taxes | 450/3 | €6,257 | €1,281 | -€4,977 | -79.5% |
| Other amounts payable | 47/48 | €60,537 | €77,347 | +€16,810 | +27.8% |
| Accrued charges and deferred income | 492/3 | €11,460 | €14,512 | +€3,052 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,251 | €1,896 | +€646 | +51.6% |
| Other operating charges | 640/8 | €3,466 | €4,469 | +€1,003 | +28.9% |
| Gross operating margin | 9900 | €9,864 | -€31,866 | -€41,731 | |
| Operating profit (loss) | 9901 | €5,148 | -€38,232 | -€43,379 | |
| Financial income | 75/76B | €1,381 | €798 | -€583 | -42.2% |
| Recurring financial income | 75 | €1,381 | €798 | -€583 | -42.2% |
| Financial charges | 65/66B | €631 | €1,232 | +€601 | +95.2% |
| Recurring financial charges | 65 | €631 | €1,232 | +€601 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €5,897 | -€38,665 | -€44,563 | |
| Income taxes | 67/77 | €4,119 | €355 | -€3,765 | -91.4% |
| Profit (loss) for the period | 9904 | €1,778 | -€39,020 | -€40,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,778 | -€39,020 | -€40,798 |
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.