MAGILAN: what changed
What changed
MAGILAN
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€37,972
31-12-2024 · -€47,931+€9,959
Equity
€1.6m
31-12-2024 · €1.7m-€37,972
Cash
€22,410
31-12-2024 · €44,160-€21,749
Balance sheet total
€1.9m
31-12-2024 · €2.0m-€78,622
Largest movements
Assets
- Tangible fixed assets -€55,325
down €55,325 (-4.4%), from €1.2m to €1.2m
of which Land and buildings: -€49,278
- Cash -€21,749
down €21,749 (-49.3%), from €44,160 to €22,410
mainly Net result for the year (-€37,972) and Debts after one year (-€31,214)
Equity and liabilities
- Debts after one year -€31,214
down €31,214 (-17.5%), from €178,753 to €147,539
of which Financial debts: -€29,025
- Profit (loss) carried forward -€26,373
down €26,373 (-2.3%), from €1.1m to €1.1m
Income statement
- Gross operating margin +€15,404
up €15,404 (+48.7%), from €31,613 to €47,017
- Depreciation +€7,222
up €7,222 (+9.1%), from €79,301 to €86,523
- Financial income +€2,185
up €2,185 (+17.0%), from €12,881 to €15,065
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
-€47,931
Gross operating margin
+€15,404
Depreciation
-€7,222
Other operating charges
+€44
Financial income
+€2,185
Financial charges
-€293
Taxes
-€114
Deferred taxes and other
-€47
Result 31-12-2025
-€37,972
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€48,802
Investment
-€34,856
Financing
-€35,696
Cash 31-12-2024
€44,160
From operations (derived)
+€48,802
Net result for the year
-€37,972
Depreciation
+€86,523
Receivables within one year
+€5,205
Provisions
-€5,713
Trade debts
+€759
Investment (derived)
-€34,856
Investment in fixed assets (net)
-€31,198
Current investments
-€3,658
Financing
-€35,696
Debts after one year
-€31,214
Current portion of long-term debt
-€4,482
Cash 31-12-2025
€22,410
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,985,476 | €1,906,854 | -€78,622 | -4.0% |
| Fixed assets | 21/28 | €1,244,813 | €1,189,488 | -€55,325 | -4.4% |
| Tangible fixed assets | 22/27 | €1,244,607 | €1,189,281 | -€55,325 | -4.4% |
| Land and buildings | 22 | €1,238,427 | €1,189,150 | -€49,278 | -4.0% |
| Furniture and vehicles | 24 | €6,179 | €132 | -€6,048 | -97.9% |
| Financial fixed assets | 28 | €206 | €206 | = | 0.0% |
| Current assets | 29/58 | €740,662 | €717,366 | -€23,296 | -3.1% |
| Amounts receivable within one year | 40/41 | €175,519 | €170,314 | -€5,205 | -3.0% |
| Trade receivables | 40 | €5,400 | €5,400 | = | 0.0% |
| Other amounts receivable | 41 | €170,119 | €164,914 | -€5,205 | -3.1% |
| Current investments | 50/53 | €519,638 | €523,296 | +€3,658 | +0.7% |
| Cash at bank and in hand | 54/58 | €44,160 | €22,410 | -€21,749 | -49.3% |
| Deferred charges and accrued income | 490/1 | €1,346 | €1,346 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,985,476 | €1,906,854 | -€78,622 | -4.0% |
| Equity | 10/15 | €1,664,981 | €1,627,009 | -€37,972 | -2.3% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €430,235 | €418,636 | -€11,599 | -2.7% |
| Tax-exempt reserves | 132 | €280,235 | €268,636 | -€11,599 | -4.1% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,124,746 | €1,098,373 | -€26,373 | -2.3% |
| Provisions and deferred taxes | 16 | €107,551 | €101,838 | -€5,713 | -5.3% |
| Deferred taxes | 168 | €107,551 | €101,838 | -€5,713 | -5.3% |
| Amounts payable | 17/49 | €212,943 | €178,006 | -€34,937 | -16.4% |
| Amounts payable after more than one year | 17 | €178,753 | €147,539 | -€31,214 | -17.5% |
| Financial debts | 170/4 | €176,564 | €147,539 | -€29,025 | -16.4% |
| Other amounts payable | 178/9 | €2,189 | - | -€2,189 | |
| Amounts payable within one year | 42/48 | €34,190 | €30,467 | -€3,723 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €33,507 | €29,025 | -€4,482 | -13.4% |
| Trade debts | 44 | €683 | €1,442 | +€759 | +111% |
| Suppliers | 440/4 | €683 | €1,442 | +€759 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,301 | €86,523 | +€7,222 | +9.1% |
| Other operating charges | 640/8 | €9,779 | €9,735 | -€44 | -0.5% |
| Gross operating margin | 9900 | €31,613 | €47,017 | +€15,404 | +48.7% |
| Operating profit (loss) | 9901 | -€57,468 | -€49,241 | +€8,227 | +14.3% |
| Financial income | 75/76B | €12,881 | €15,065 | +€2,185 | +17.0% |
| Recurring financial income | 75 | €12,881 | €15,065 | +€2,185 | +17.0% |
| Financial charges | 65/66B | €6,390 | €6,683 | +€293 | +4.6% |
| Recurring financial charges | 65 | €6,390 | €6,683 | +€293 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€50,978 | -€40,858 | +€10,119 | +19.9% |
| Transfer from deferred taxes | 780 | €5,760 | €5,713 | -€47 | -0.8% |
| Income taxes | 67/77 | €2,713 | €2,827 | +€114 | +4.2% |
| Profit (loss) for the period | 9904 | -€47,931 | -€37,972 | +€9,959 | +20.8% |
| Transfer from tax-exempt reserves | 789 | €11,694 | €11,599 | -€95 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,236 | -€26,373 | +€9,864 | +27.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.