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 -€938,820
down €938,820 (-38.5%), from €2.4m to €1.5m
- Stocks and contracts -€595,937
down €595,937 (-50.6%), from €1.2m to €582,218
- Cash +€62,181
up €62,181 (+549.3%), from €11,320 to €73,500
mainly Receivables within one year (+€938,820) and Stocks and contracts (+€595,937)
- Current portion of long-term debt -€843,716
no longer reported in 2025 (was €843,716)
- Other debts -€710,538
down €710,538 (-27.8%), from €2.6m to €1.8m
- Reserves +€192,000
new in 2025: €192,000
- Profit (loss) carried forward -€175,579
down €175,579 (-94.8%), from €185,307 to €9,728
- Gross operating margin -€72,805
down €72,805 (-18.1%), from €401,680 to €328,876
- Financial charges -€46,312
down €46,312 (-40.4%), from €114,601 to €68,289
- Financial income -€33,584
down €33,584 (-57.2%), from €58,673 to €25,089
- Taxes +€20,071
up €20,071 (+28.7%), from €70,000 to €90,071
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 | €3,686,260 | €2,180,100 | -€1.5m | -40.9% |
| Current assets | 29/58 | €3,686,260 | €2,180,100 | -€1.5m | -40.9% |
| Stocks and contracts in progress | 3 | €1,178,154 | €582,218 | -€595,937 | -50.6% |
| Stocks | 30/36 | €1,178,154 | €582,218 | -€595,937 | -50.6% |
| Amounts receivable within one year | 40/41 | €2,438,113 | €1,499,293 | -€938,820 | -38.5% |
| Other amounts receivable | 41 | €2,438,113 | €1,499,293 | -€938,820 | -38.5% |
| Cash at bank and in hand | 54/58 | €11,320 | €73,500 | +€62,181 | +549.3% |
| Deferred charges and accrued income | 490/1 | €58,673 | €25,089 | -€33,584 | -57.2% |
| Total equity and liabilities | 10/49 | €3,686,260 | €2,180,100 | -€1.5m | -40.9% |
| Equity | 10/15 | €188,307 | €204,728 | +€16,421 | +8.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €192,000 | +€192,000 | |
| Distributable reserves | 133 | - | €192,000 | +€192,000 | |
| Profit (loss) carried forward | 14 | €185,307 | €9,728 | -€175,579 | -94.8% |
| Amounts payable | 17/49 | €3,497,953 | €1,975,373 | -€1.5m | -43.5% |
| Amounts payable within one year | 42/48 | €3,470,798 | €1,922,955 | -€1.5m | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €843,716 | - | -€843,716 | |
| Trade debts | 44 | €189 | €7,027 | +€6,839 | +3628.1% |
| Suppliers | 440/4 | €189 | €7,027 | +€6,839 | +3628.1% |
| Taxes, remuneration and social security | 45 | €70,000 | €69,571 | -€429 | -0.6% |
| Taxes | 450/3 | €70,000 | €69,571 | -€429 | -0.6% |
| Other amounts payable | 47/48 | €2,556,894 | €1,846,356 | -€710,538 | -27.8% |
| Accrued charges and deferred income | 492/3 | €27,155 | €52,418 | +€25,263 | +93.0% |
| Other operating charges | 640/8 | €4,901 | €1,184 | -€3,716 | -75.8% |
| Gross operating margin | 9900 | €401,680 | €328,876 | -€72,805 | -18.1% |
| Operating profit (loss) | 9901 | €396,780 | €327,692 | -€69,088 | -17.4% |
| Financial income | 75/76B | €58,673 | €25,089 | -€33,584 | -57.2% |
| Recurring financial income | 75 | €58,673 | €25,089 | -€33,584 | -57.2% |
| Financial charges | 65/66B | €114,601 | €68,289 | -€46,312 | -40.4% |
| Recurring financial charges | 65 | €114,601 | €68,289 | -€46,312 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €340,852 | €284,492 | -€56,360 | -16.5% |
| Income taxes | 67/77 | €70,000 | €90,071 | +€20,071 | +28.7% |
| Profit (loss) for the period | 9904 | €270,852 | €194,421 | -€76,431 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €270,852 | €194,421 | -€76,431 | -28.2% |
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 2 October 2026 via checked.be.