MAGLIAMO: what changed
Two financial 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.
MAGLIAMO
Largest movements
- Stocks and contracts -€30,569
down €30,569 (-45.9%), from €66,543 to €35,973
- Tangible fixed assets -€3,818
down €3,818 (-3.0%), from €126,714 to €122,896
of which Land and buildings: -€3,207
- Profit (loss) carried forward -€17,475
down €17,475 (-70.8%), from -€24,667 to -€42,142
- Debts after one year -€10,551
down €10,551 (-9.2%), from €114,843 to €104,292
of which Financial debts: -€12,151
- Tax, wage and social debts -€3,218
down €3,218 (-59.6%), from €5,401 to €2,183
- Other operating charges -€11,128
down €11,128 (-90.7%), from €12,270 to €1,143
- Gross operating margin -€3,687
down €3,687, from €1,889 to -€1,797
- Financial income -€2,206
down €2,206 (-97.2%), from €2,269 to €63
- Financial charges +€904
up €904 (+9.9%), from €9,176 to €10,080
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 | €230,310 | €197,444 | -€32,866 | -14.3% |
| Fixed assets | 21/28 | €126,714 | €122,896 | -€3,818 | -3.0% |
| Tangible fixed assets | 22/27 | €126,714 | €122,896 | -€3,818 | -3.0% |
| Land and buildings | 22 | €119,132 | €115,925 | -€3,207 | -2.7% |
| Plant, machinery and equipment | 23 | €6,315 | €5,947 | -€368 | -5.8% |
| Furniture and vehicles | 24 | €1,267 | €1,024 | -€244 | -19.2% |
| Current assets | 29/58 | €103,596 | €74,548 | -€29,048 | -28.0% |
| Stocks and contracts in progress | 3 | €66,543 | €35,973 | -€30,569 | -45.9% |
| Stocks | 30/36 | €66,543 | €35,973 | -€30,569 | -45.9% |
| Amounts receivable within one year | 40/41 | €29,107 | €29,142 | +€36 | +0.1% |
| Trade receivables | 40 | €796 | €585 | -€210 | -26.4% |
| Other amounts receivable | 41 | €28,311 | €28,557 | +€246 | +0.9% |
| Cash at bank and in hand | 54/58 | €7,947 | €9,364 | +€1,417 | +17.8% |
| Deferred charges and accrued income | 490/1 | - | €69 | +€69 | |
| Total equity and liabilities | 10/49 | €230,310 | €197,444 | -€32,866 | -14.3% |
| Equity | 10/15 | €93,883 | €76,408 | -€17,475 | -18.6% |
| Contributions | 10/11 | €118,550 | €118,550 | = | 0.0% |
| Contributions outside capital | 11 | €118,550 | €118,550 | = | 0.0% |
| Other | 1109/19 | €118,550 | €118,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,667 | -€42,142 | -€17,475 | -70.8% |
| Amounts payable | 17/49 | €136,427 | €121,035 | -€15,391 | -11.3% |
| Amounts payable after more than one year | 17 | €114,843 | €104,292 | -€10,551 | -9.2% |
| Financial debts | 170/4 | €114,843 | €102,692 | -€12,151 | -10.6% |
| Other amounts payable | 178/9 | - | €1,600 | +€1,600 | |
| Amounts payable within one year | 42/48 | €20,380 | €16,021 | -€4,359 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €11,843 | €12,151 | +€307 | +2.6% |
| Trade debts | 44 | €3,135 | €1,687 | -€1,448 | -46.2% |
| Suppliers | 440/4 | €3,135 | €1,687 | -€1,448 | -46.2% |
| Taxes, remuneration and social security | 45 | €5,401 | €2,183 | -€3,218 | -59.6% |
| Taxes | 450/3 | €5,401 | €2,183 | -€3,218 | -59.6% |
| Accrued charges and deferred income | 492/3 | €1,204 | €723 | -€481 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,535 | €4,517 | -€18 | -0.4% |
| Other operating charges | 640/8 | €12,270 | €1,143 | -€11,128 | -90.7% |
| Gross operating margin | 9900 | €1,889 | -€1,797 | -€3,687 | |
| Operating profit (loss) | 9901 | -€14,916 | -€7,457 | +€7,459 | +50.0% |
| Financial income | 75/76B | €2,269 | €63 | -€2,206 | -97.2% |
| Recurring financial income | 75 | €2,269 | €63 | -€2,206 | -97.2% |
| Financial charges | 65/66B | €9,176 | €10,080 | +€904 | +9.9% |
| Recurring financial charges | 65 | €9,176 | €10,080 | +€904 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,824 | -€17,475 | +€4,349 | +19.9% |
| Profit (loss) for the period | 9904 | -€21,824 | -€17,475 | +€4,349 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,824 | -€17,475 | +€4,349 | +19.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.