Magic Midco: 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.
What changed
Magic Midco
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€299,685
2024 · -€502,692+€203,007
Equity
€121.1m
2024 · €150.5m-€29.4m
Cash
€58,304
2024 · €3,468+€54,836
Balance sheet total
€122.3m
2024 · €151.5m-€29.2m
Largest movements
Assets
- Financial fixed assets -€29.1m
down €29.1m (-19.2%), from €151.3m to €122.2m
of which Affiliated companies: -€29.1m
Equity and liabilities
- Contributions -€29.1m
down €29.1m (-19.2%), from €151.5m to €122.4m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
-€502,692
Staff costs
-€177,200
Other operating charges
+€970
Other operating items
+€357,308
Financial income
+€11,839
Financial charges
+€10,384
Taxes
-€294
Result 2025
-€299,685
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.
From operations
+€54,836
Investment
+€29.1m
Financing
-€29.1m
Cash 2024
€3,468
From operations (derived)
+€54,836
Net result for the year
-€299,685
Receivables within one year
+€144,134
Smaller working-capital items
+€14,623
Other debts
+€195,763
Investment (derived)
+€29.1m
Investment in fixed assets (net)
+€29.1m
Financing
-€29.1m
Contributions, distributions and other
-€29.1m
Cash 2025
€58,304
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,490,442 | €122,298,933 | -€29.2m | -19.3% |
| Fixed assets | 21/28 | €151,333,588 | €122,231,817 | -€29.1m | -19.2% |
| Financial fixed assets | 28 | €151,333,588 | €122,231,817 | -€29.1m | -19.2% |
| Affiliated companies | 280/1 | €151,333,331 | €122,231,560 | -€29.1m | -19.2% |
| Participating interests | 280 | €151,333,331 | €122,231,560 | -€29.1m | -19.2% |
| Other financial fixed assets | 284/8 | €257 | €257 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €257 | €257 | = | 0.0% |
| Current assets | 29/58 | €156,854 | €67,116 | -€89,738 | -57.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €152,946 | €8,812 | -€144,134 | -94.2% |
| Other amounts receivable | 41 | €152,946 | €8,812 | -€144,134 | -94.2% |
| Cash at bank and in hand | 54/58 | €3,468 | €58,304 | +€54,836 | +1581.0% |
| Deferred charges and accrued income | 490/1 | €439 | €0 | -€439 | -100.0% |
| Total equity and liabilities | 10/49 | €151,490,442 | €122,298,933 | -€29.2m | -19.3% |
| Equity | 10/15 | €150,495,803 | €121,094,347 | -€29.4m | -19.5% |
| Contributions | 10/11 | €151,535,323 | €122,433,551 | -€29.1m | -19.2% |
| Profit (loss) carried forward | 14 | -€1,039,520 | -€1,339,205 | -€299,685 | -28.8% |
| Amounts payable | 17/49 | €994,639 | €1,204,586 | +€209,947 | +21.1% |
| Amounts payable within one year | 42/48 | €994,574 | €1,204,586 | +€210,012 | +21.1% |
| Trade debts | 44 | €283,964 | €298,008 | +€14,044 | +4.9% |
| Suppliers | 440/4 | €283,964 | €298,008 | +€14,044 | +4.9% |
| Taxes, remuneration and social security | 45 | €0 | €206 | +€206 | |
| Taxes | 450/3 | €0 | €140 | +€140 | |
| Remuneration and social security | 454/9 | - | €66 | +€66 | |
| Other amounts payable | 47/48 | €710,610 | €906,373 | +€195,763 | +27.5% |
| Accrued charges and deferred income | 492/3 | €66 | €0 | -€66 | -100.0% |
| Operating income | 70/76A | €29,051 | €0 | -€29,051 | -100.0% |
| Non-recurring operating income | 76A | €29,051 | €0 | -€29,051 | -100.0% |
| Operating charges | 60/66A | €522,845 | €312,717 | -€210,128 | -40.2% |
| Services and other goods | 61 | €520,877 | €134,518 | -€386,359 | -74.2% |
| Remuneration, social security and pensions | 62 | - | €177,200 | +€177,200 | |
| Other operating charges | 640/8 | €1,968 | €998 | -€970 | -49.3% |
| Operating profit (loss) | 9901 | -€493,795 | -€312,717 | +€181,078 | +36.7% |
| Financial income | 75/76B | €4,927 | €16,766 | +€11,839 | +240.3% |
| Recurring financial income | 75 | €4,927 | €16,766 | +€11,839 | +240.3% |
| Income from current assets | 751 | €277 | €37 | -€241 | -86.7% |
| Other financial income | 752/9 | €4,649 | €16,729 | +€12,080 | +259.8% |
| Financial charges | 65/66B | €14,382 | €3,999 | -€10,384 | -72.2% |
| Recurring financial charges | 65 | €14,382 | €3,999 | -€10,384 | -72.2% |
| Debt charges | 650 | €0 | €0 | +€0 | +100.0% |
| Other financial charges | 652/9 | €14,382 | €3,998 | -€10,384 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | -€503,250 | -€299,949 | +€203,301 | +40.4% |
| Income taxes | 67/77 | -€558 | -€264 | +€294 | +52.7% |
| Taxes | 670/3 | €0 | - | = | |
| Tax adjustments and reversals of tax provisions | 77 | €558 | €264 | -€294 | -52.7% |
| Profit (loss) for the period | 9904 | -€502,692 | -€299,685 | +€203,007 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€502,692 | -€299,685 | +€203,007 | +40.4% |
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.