MAGO: 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.
MAGO
Largest movements
- Cash +€6,047
up €6,047 (+23.5%), from €25,753 to €31,800
mainly Accrued charges and deferred income (+€8,768) and Net result for the year (+€6,265)
- Tangible fixed assets -€4,598
down €4,598 (-36.9%), from €12,473 to €7,875
of which Other tangible fixed assets: -€2,500
- Trade debts -€16,901
down €16,901 (-19.2%), from €88,032 to €71,132
- Accrued charges and deferred income +€8,768
new in 2024: €8,768
- Reserves +€6,265
up €6,265 (+5.5%), from €114,645 to €120,911
of which Distributable reserves: +€6,265
- Write-downs +€60,000
up €60,000, from -€40,000 to €20,000
- Gross operating margin +€37,838
up €37,838 (+564.1%), from €6,708 to €44,545
- Depreciation -€20,926
down €20,926 (-82.0%), from €25,523 to €4,598
- Other operating charges +€11,481
up €11,481 (+1178.6%), from €974 to €12,455
- Staff costs -€2,677
down €2,677 (-95.6%), from €2,802 to €124
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €347,763 | €347,705 | -€58 | 0.0% |
| Fixed assets | 21/28 | €12,643 | €8,046 | -€4,598 | -36.4% |
| Tangible fixed assets | 22/27 | €12,473 | €7,875 | -€4,598 | -36.9% |
| Plant, machinery and equipment | 23 | €7,473 | €5,375 | -€2,098 | -28.1% |
| Other tangible fixed assets | 26 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €335,119 | €339,659 | +€4,540 | +1.4% |
| Stocks and contracts in progress | 3 | €4,790 | €5,850 | +€1,060 | +22.1% |
| Stocks | 30/36 | €4,790 | €5,850 | +€1,060 | +22.1% |
| Amounts receivable within one year | 40/41 | €304,087 | €301,002 | -€3,085 | -1.0% |
| Trade receivables | 40 | €304,087 | €301,002 | -€3,085 | -1.0% |
| Cash at bank and in hand | 54/58 | €25,753 | €31,800 | +€6,047 | +23.5% |
| Deferred charges and accrued income | 490/1 | €490 | €1,006 | +€516 | +105.4% |
| Total equity and liabilities | 10/49 | €347,763 | €347,705 | -€58 | 0.0% |
| Equity | 10/15 | €223,224 | €229,489 | +€6,265 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,645 | €120,911 | +€6,265 | +5.5% |
| 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 | €97,750 | €97,750 | = | 0.0% |
| Distributable reserves | 133 | €15,035 | €21,301 | +€6,265 | +41.7% |
| Profit (loss) carried forward | 14 | €89,979 | €89,979 | = | 0.0% |
| Amounts payable | 17/49 | €124,539 | €118,215 | -€6,324 | -5.1% |
| Amounts payable within one year | 42/48 | €124,539 | €109,448 | -€15,091 | -12.1% |
| Trade debts | 44 | €88,032 | €71,132 | -€16,901 | -19.2% |
| Suppliers | 440/4 | €88,032 | €71,132 | -€16,901 | -19.2% |
| Taxes, remuneration and social security | 45 | €18,253 | €21,665 | +€3,412 | +18.7% |
| Taxes | 450/3 | €18,253 | €21,665 | +€3,412 | +18.7% |
| Other amounts payable | 47/48 | €18,254 | €16,651 | -€1,603 | -8.8% |
| Accrued charges and deferred income | 492/3 | - | €8,768 | +€8,768 | |
| Remuneration, social security and pensions | 62 | €2,802 | €124 | -€2,677 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,523 | €4,598 | -€20,926 | -82.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€40,000 | €20,000 | +€60,000 | |
| Other operating charges | 640/8 | €974 | €12,455 | +€11,481 | +1178.6% |
| Non-recurring operating charges | 66A | €12,410 | - | -€12,410 | |
| Gross operating margin | 9900 | €6,708 | €44,545 | +€37,838 | +564.1% |
| Operating profit (loss) | 9901 | €4,999 | €7,369 | +€2,370 | +47.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €751 | €708 | -€43 | -5.7% |
| Recurring financial charges | 65 | €751 | €708 | -€43 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €4,247 | €6,660 | +€2,413 | +56.8% |
| Income taxes | 67/77 | €2,000 | €395 | -€1,605 | -80.3% |
| Profit (loss) for the period | 9904 | €2,247 | €6,265 | +€4,018 | +178.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,247 | €6,265 | +€4,018 | +178.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.