MAGIC: 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.
MAGIC
Largest movements
- Receivables within one year +€16,147
up €16,147 (+2670.3%), from €605 to €16,752
of which Other amounts receivable: +€8,674
- Stocks and contracts -€3,293
down €3,293 (-18.8%), from €17,539 to €14,246
- Intangible fixed assets -€3,000
down €3,000 (-70.6%), from €4,250 to €1,250
- Tangible fixed assets -€1,807
down €1,807 (-27.2%), from €6,640 to €4,833
of which Plant, machinery and equipment: -€1,191
- Other debts +€22,394
new in 2025: €22,394
- Profit (loss) carried forward -€13,988
down €13,988 (-80.5%), from €17,366 to €3,378
- Tax, wage and social debts -€548
down €548 (-61.0%), from €899 to €351
of which Taxes: -€298
- Gross operating margin -€6,072
down €6,072 (-43.3%), from €14,034 to €7,963
- Financial charges +€469
up €469 (+148.4%), from €316 to €785
- Depreciation +€371
up €371 (+8.4%), from €4,437 to €4,807
- Taxes -€200
down €200 (-18.4%), from €1,089 to €889
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 | €35,470 | €43,361 | +€7,891 | +22.2% |
| Fixed assets | 21/28 | €10,890 | €6,083 | -€4,807 | -44.1% |
| Intangible fixed assets | 21 | €4,250 | €1,250 | -€3,000 | -70.6% |
| Tangible fixed assets | 22/27 | €6,640 | €4,833 | -€1,807 | -27.2% |
| Plant, machinery and equipment | 23 | €3,026 | €1,834 | -€1,191 | -39.4% |
| Other tangible fixed assets | 26 | €3,615 | €2,999 | -€616 | -17.0% |
| Current assets | 29/58 | €24,580 | €37,278 | +€12,699 | +51.7% |
| Stocks and contracts in progress | 3 | €17,539 | €14,246 | -€3,293 | -18.8% |
| Stocks | 30/36 | €17,539 | €14,246 | -€3,293 | -18.8% |
| Amounts receivable within one year | 40/41 | €605 | €16,752 | +€16,147 | +2670.3% |
| Trade receivables | 40 | - | €7,472 | +€7,472 | |
| Other amounts receivable | 41 | €605 | €9,279 | +€8,674 | +1434.5% |
| Cash at bank and in hand | 54/58 | €5,856 | €5,964 | +€108 | +1.9% |
| Deferred charges and accrued income | 490/1 | €580 | €317 | -€263 | -45.4% |
| Total equity and liabilities | 10/49 | €35,470 | €43,361 | +€7,891 | +22.2% |
| Equity | 10/15 | €32,777 | €18,789 | -€13,988 | -42.7% |
| Contributions | 10/11 | €14,476 | €14,476 | = | 0.0% |
| Reserves | 13 | €935 | €935 | = | 0.0% |
| Distributable reserves | 133 | €935 | €935 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,366 | €3,378 | -€13,988 | -80.5% |
| Amounts payable | 17/49 | €2,693 | €24,573 | +€21,879 | +812.4% |
| Amounts payable within one year | 42/48 | €2,637 | €24,255 | +€21,619 | +820.0% |
| Trade debts | 44 | €1,738 | €1,511 | -€227 | -13.0% |
| Suppliers | 440/4 | €1,738 | €1,511 | -€227 | -13.0% |
| Taxes, remuneration and social security | 45 | €899 | €351 | -€548 | -61.0% |
| Taxes | 450/3 | €649 | €351 | -€298 | -46.0% |
| Remuneration and social security | 454/9 | €250 | €0 | -€250 | -100.0% |
| Other amounts payable | 47/48 | - | €22,394 | +€22,394 | |
| Accrued charges and deferred income | 492/3 | €57 | €318 | +€261 | +459.4% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,437 | €4,807 | +€371 | +8.4% |
| Other operating charges | 640/8 | €587 | €520 | -€67 | -11.5% |
| Non-recurring operating charges | 66A | - | €70 | +€70 | |
| Gross operating margin | 9900 | €14,034 | €7,963 | -€6,072 | -43.3% |
| Operating profit (loss) | 9901 | €9,011 | €2,566 | -€6,445 | -71.5% |
| Financial income | 75/76B | €0 | €120 | +€120 | +27256.8% |
| Recurring financial income | 75 | €0 | €120 | +€120 | +27256.8% |
| Financial charges | 65/66B | €316 | €785 | +€469 | +148.4% |
| Recurring financial charges | 65 | €316 | €785 | +€469 | +148.4% |
| Profit (loss) for the period before taxes | 9903 | €8,695 | €1,901 | -€6,794 | -78.1% |
| Income taxes | 67/77 | €1,089 | €889 | -€200 | -18.4% |
| Profit (loss) for the period | 9904 | €7,606 | €1,012 | -€6,594 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,606 | €1,012 | -€6,594 | -86.7% |
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 8 October 2026 via checked.be.