MAGOS: 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.
MAGOS
Largest movements
- Financial fixed assets +€55,350
up €55,350 (+13.1%), from €421,293 to €476,643
- Receivables within one year +€49,569
up €49,569 (+188.0%), from €26,362 to €75,931
of which Trade receivables: +€24,904
- Cash +€20,490
up €20,490 (+20.6%), from €99,312 to €119,802
mainly Trade debts (+€141,729) and Net result for the year (+€22,166)
- Deferred charges and accrued income -€8,996
down €8,996 (-55.8%), from €16,111 to €7,115
- Trade debts +€141,729
up €141,729 (+39.8%), from €356,400 to €498,129
- Reserves +€140,000
new in 2025: €140,000
- Profit (loss) carried forward -€117,834
down €117,834 (-99.9%), from €117,976 to €142
- Tax, wage and social debts -€47,632
down €47,632 (-54.4%), from €87,603 to €39,971
of which Remuneration and social security: -€41,070
- Gross operating margin +€11,281
up €11,281 (+2.2%), from €503,697 to €514,979
- Staff costs +€5,928
up €5,928 (+1.3%), from €464,717 to €470,645
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 | €564,479 | €680,742 | +€116,263 | +20.6% |
| Fixed assets | 21/28 | €422,694 | €477,822 | +€55,128 | +13.0% |
| Tangible fixed assets | 22/27 | €1,400 | €1,178 | -€222 | -15.9% |
| Furniture and vehicles | 24 | €1,400 | €1,178 | -€222 | -15.9% |
| Financial fixed assets | 28 | €421,293 | €476,643 | +€55,350 | +13.1% |
| Current assets | 29/58 | €141,785 | €202,920 | +€61,135 | +43.1% |
| Amounts receivable within one year | 40/41 | €26,362 | €75,931 | +€49,569 | +188.0% |
| Trade receivables | 40 | €18,475 | €43,379 | +€24,904 | +134.8% |
| Other amounts receivable | 41 | €7,887 | €32,552 | +€24,665 | +312.7% |
| Current investments | 50/53 | - | €72 | +€72 | |
| Cash at bank and in hand | 54/58 | €99,312 | €119,802 | +€20,490 | +20.6% |
| Deferred charges and accrued income | 490/1 | €16,111 | €7,115 | -€8,996 | -55.8% |
| Total equity and liabilities | 10/49 | €564,479 | €680,742 | +€116,263 | +20.6% |
| Equity | 10/15 | €120,476 | €142,642 | +€22,166 | +18.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €140,000 | +€140,000 | |
| Distributable reserves | 133 | - | €140,000 | +€140,000 | |
| Profit (loss) carried forward | 14 | €117,976 | €142 | -€117,834 | -99.9% |
| Amounts payable | 17/49 | €444,003 | €538,099 | +€94,097 | +21.2% |
| Amounts payable within one year | 42/48 | €444,003 | €538,099 | +€94,097 | +21.2% |
| Trade debts | 44 | €356,400 | €498,129 | +€141,729 | +39.8% |
| Suppliers | 440/4 | €356,400 | €498,129 | +€141,729 | +39.8% |
| Taxes, remuneration and social security | 45 | €87,603 | €39,971 | -€47,632 | -54.4% |
| Taxes | 450/3 | €11,765 | €5,203 | -€6,562 | -55.8% |
| Remuneration and social security | 454/9 | €75,838 | €34,768 | -€41,070 | -54.2% |
| Remuneration, social security and pensions | 62 | €464,717 | €470,645 | +€5,928 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,587 | €1,502 | -€85 | -5.3% |
| Other operating charges | 640/8 | €1,398 | €1,468 | +€69 | +4.9% |
| Gross operating margin | 9900 | €503,697 | €514,979 | +€11,281 | +2.2% |
| Operating profit (loss) | 9901 | €35,995 | €41,364 | +€5,369 | +14.9% |
| Financial income | 75/76B | €57 | €80 | +€23 | +40.0% |
| Recurring financial income | 75 | €57 | €80 | +€23 | +40.0% |
| Financial charges | 65/66B | €4,886 | €4,542 | -€344 | -7.0% |
| Recurring financial charges | 65 | €4,886 | €4,542 | -€344 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €31,166 | €36,902 | +€5,736 | +18.4% |
| Income taxes | 67/77 | €12,687 | €14,736 | +€2,050 | +16.2% |
| Profit (loss) for the period | 9904 | €18,480 | €22,166 | +€3,686 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,480 | €22,166 | +€3,686 | +19.9% |
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.