MAGIC ISMA: 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 ISMA
Largest movements
- Tangible fixed assets -€79,803
down €79,803 (-21.6%), from €368,751 to €288,948
of which Other tangible fixed assets: -€44,195
- Cash +€42,597
up €42,597 (+237.2%), from €17,956 to €60,553
mainly Depreciation (+€96,687) and Tax, wage and social debts (+€53,684)
- Receivables within one year +€36,533
up €36,533 (+83.1%), from €43,949 to €80,482
of which Other amounts receivable: +€27,866
- Tax, wage and social debts +€53,684
up €53,684 (+85.2%), from €62,999 to €116,683
of which Remuneration and social security: +€31,627
- Debts after one year -€32,160
down €32,160 (-56.6%), from €56,806 to €24,646
- Current portion of long-term debt -€19,972
down €19,972 (-35.8%), from €55,726 to €35,754
- Trade debts +€19,385
up €19,385 (+11.2%), from €173,540 to €192,925
- Profit (loss) carried forward -€19,125
down €19,125 (-17.2%), from €111,001 to €91,876
- Gross operating margin +€126,237
up €126,237 (+50.2%), from €251,337 to €377,574
- Staff costs +€110,242
up €110,242 (+70.0%), from €157,573 to €267,815
- Depreciation -€4,380
down €4,380 (-4.3%), from €101,067 to €96,687
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 | €494,494 | €491,583 | -€2,911 | -0.6% |
| Fixed assets | 21/28 | €380,701 | €300,898 | -€79,803 | -21.0% |
| Tangible fixed assets | 22/27 | €368,751 | €288,948 | -€79,803 | -21.6% |
| Plant, machinery and equipment | 23 | €136,950 | €110,176 | -€26,773 | -19.5% |
| Furniture and vehicles | 24 | €35,906 | €28,147 | -€7,758 | -21.6% |
| Leasing and similar rights | 25 | €1,077 | - | -€1,077 | |
| Other tangible fixed assets | 26 | €194,819 | €150,624 | -€44,195 | -22.7% |
| Financial fixed assets | 28 | €11,950 | €11,950 | = | 0.0% |
| Current assets | 29/58 | €113,792 | €190,685 | +€76,892 | +67.6% |
| Stocks and contracts in progress | 3 | €47,833 | €49,481 | +€1,648 | +3.4% |
| Stocks | 30/36 | €47,833 | €49,481 | +€1,648 | +3.4% |
| Amounts receivable within one year | 40/41 | €43,949 | €80,482 | +€36,533 | +83.1% |
| Trade receivables | 40 | €11,991 | €20,657 | +€8,666 | +72.3% |
| Other amounts receivable | 41 | €31,958 | €59,825 | +€27,866 | +87.2% |
| Cash at bank and in hand | 54/58 | €17,956 | €60,553 | +€42,597 | +237.2% |
| Deferred charges and accrued income | 490/1 | €4,054 | €169 | -€3,885 | -95.8% |
| Total equity and liabilities | 10/49 | €494,494 | €491,583 | -€2,911 | -0.6% |
| Equity | 10/15 | €140,700 | €121,575 | -€19,125 | -13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,099 | €11,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,239 | €9,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,001 | €91,876 | -€19,125 | -17.2% |
| Amounts payable | 17/49 | €353,794 | €370,008 | +€16,214 | +4.6% |
| Amounts payable after more than one year | 17 | €56,806 | €24,646 | -€32,160 | -56.6% |
| Financial debts | 170/4 | €56,806 | €24,646 | -€32,160 | -56.6% |
| Amounts payable within one year | 42/48 | €296,988 | €345,362 | +€48,374 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €55,726 | €35,754 | -€19,972 | -35.8% |
| Financial debts | 43 | €4,723 | - | -€4,723 | |
| Credit institutions | 430/8 | €4,723 | - | -€4,723 | |
| Trade debts | 44 | €173,540 | €192,925 | +€19,385 | +11.2% |
| Suppliers | 440/4 | €173,540 | €192,925 | +€19,385 | +11.2% |
| Taxes, remuneration and social security | 45 | €62,999 | €116,683 | +€53,684 | +85.2% |
| Taxes | 450/3 | €15,135 | €37,192 | +€22,057 | +145.7% |
| Remuneration and social security | 454/9 | €47,864 | €79,491 | +€31,627 | +66.1% |
| Remuneration, social security and pensions | 62 | €157,573 | €267,815 | +€110,242 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,067 | €96,687 | -€4,380 | -4.3% |
| Other operating charges | 640/8 | €5,999 | €5,772 | -€227 | -3.8% |
| Non-recurring operating charges | 66A | - | €16,626 | +€16,626 | |
| Gross operating margin | 9900 | €251,337 | €377,574 | +€126,237 | +50.2% |
| Operating profit (loss) | 9901 | -€13,303 | -€9,325 | +€3,977 | +29.9% |
| Financial income | 75/76B | €11 | €2 | -€10 | -84.7% |
| Recurring financial income | 75 | €11 | €2 | -€10 | -84.7% |
| Financial charges | 65/66B | €12,261 | €9,764 | -€2,497 | -20.4% |
| Recurring financial charges | 65 | €12,261 | €9,764 | -€2,497 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,553 | -€19,088 | +€6,465 | +25.3% |
| Income taxes | 67/77 | €434 | €37 | -€397 | -91.5% |
| Profit (loss) for the period | 9904 | -€25,986 | -€19,125 | +€6,861 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,986 | -€19,125 | +€6,861 | +26.4% |
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 3 October 2026 via checked.be.