MAGRA: 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.
MAGRA
Largest movements
- Receivables within one year -€81,439
down €81,439 (-21.0%), from €387,193 to €305,754
- Cash +€61,444
up €61,444 (+188.2%), from €32,657 to €94,101
mainly Other debts (+€285,385) and Net result for the year (+€215,137)
- Tangible fixed assets +€51,166
up €51,166 (+10.9%), from €467,276 to €518,442
of which Furniture and vehicles: +€36,087
- Current investments +€16,674
up €16,674 (+22.4%), from €74,491 to €91,164
- Other debts +€285,385
up €285,385 (+304.0%), from €93,865 to €379,250
- Reserves -€164,250
down €164,250 (-20.9%), from €784,480 to €620,230
- Trade debts -€51,369
down €51,369 (-90.9%), from €56,519 to €5,150
- Tax, wage and social debts -€30,938
down €30,938 (-23.1%), from €133,832 to €102,893
of which Taxes: -€36,657
- Current portion of long-term debt +€17,246
up €17,246 (+184.2%), from €9,363 to €26,609
- Depreciation +€21,475
up €21,475 (+77.4%), from €27,757 to €49,232
- Gross operating margin -€15,525
down €15,525 (-4.2%), from €366,212 to €350,687
- Financial income +€10,225
up €10,225 (+95.3%), from €10,734 to €20,959
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 | €1,275,408 | €1,321,920 | +€46,512 | +3.6% |
| Fixed assets | 21/28 | €467,276 | €518,442 | +€51,166 | +10.9% |
| Tangible fixed assets | 22/27 | €467,276 | €518,442 | +€51,166 | +10.9% |
| Land and buildings | 22 | €344,222 | €331,288 | -€12,934 | -3.8% |
| Plant, machinery and equipment | 23 | €122,524 | €150,537 | +€28,013 | +22.9% |
| Furniture and vehicles | 24 | €531 | €36,618 | +€36,087 | +6794.0% |
| Current assets | 29/58 | €808,132 | €803,478 | -€4,654 | -0.6% |
| Amounts receivable after more than one year | 29 | €305,855 | €303,641 | -€2,215 | -0.7% |
| Other amounts receivable | 291 | €305,855 | €303,641 | -€2,215 | -0.7% |
| Amounts receivable within one year | 40/41 | €387,193 | €305,754 | -€81,439 | -21.0% |
| Trade receivables | 40 | €387,193 | €305,754 | -€81,439 | -21.0% |
| Current investments | 50/53 | €74,491 | €91,164 | +€16,674 | +22.4% |
| Cash at bank and in hand | 54/58 | €32,657 | €94,101 | +€61,444 | +188.2% |
| Deferred charges and accrued income | 490/1 | €7,936 | €8,817 | +€881 | +11.1% |
| Total equity and liabilities | 10/49 | €1,275,408 | €1,321,920 | +€46,512 | +3.6% |
| Equity | 10/15 | €942,722 | €778,609 | -€164,113 | -17.4% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €784,480 | €620,230 | -€164,250 | -20.9% |
| Distributable reserves | 133 | €784,480 | €620,230 | -€164,250 | -20.9% |
| Profit (loss) carried forward | 14 | €130,742 | €130,879 | +€137 | +0.1% |
| Amounts payable | 17/49 | €332,686 | €543,311 | +€210,625 | +63.3% |
| Amounts payable after more than one year | 17 | €39,108 | €29,410 | -€9,699 | -24.8% |
| Financial debts | 170/4 | €39,108 | €29,410 | -€9,699 | -24.8% |
| Amounts payable within one year | 42/48 | €293,578 | €513,901 | +€220,323 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €9,363 | €26,609 | +€17,246 | +184.2% |
| Trade debts | 44 | €56,519 | €5,150 | -€51,369 | -90.9% |
| Suppliers | 440/4 | €56,519 | €5,150 | -€51,369 | -90.9% |
| Taxes, remuneration and social security | 45 | €133,832 | €102,893 | -€30,938 | -23.1% |
| Taxes | 450/3 | €133,832 | €97,175 | -€36,657 | -27.4% |
| Remuneration and social security | 454/9 | - | €5,718 | +€5,718 | |
| Other amounts payable | 47/48 | €93,865 | €379,250 | +€285,385 | +304.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,757 | €49,232 | +€21,475 | +77.4% |
| Other operating charges | 640/8 | €3,705 | €4,339 | +€634 | +17.1% |
| Non-recurring operating charges | 66A | - | €35 | +€35 | |
| Gross operating margin | 9900 | €366,212 | €350,687 | -€15,525 | -4.2% |
| Operating profit (loss) | 9901 | €334,750 | €297,081 | -€37,669 | -11.3% |
| Financial income | 75/76B | €10,734 | €20,959 | +€10,225 | +95.3% |
| Recurring financial income | 75 | €10,734 | €20,959 | +€10,225 | +95.3% |
| Financial charges | 65/66B | €2,152 | €3,484 | +€1,332 | +61.9% |
| Recurring financial charges | 65 | €2,152 | €3,484 | +€1,332 | +61.9% |
| Profit (loss) for the period before taxes | 9903 | €343,332 | €314,555 | -€28,776 | -8.4% |
| Income taxes | 67/77 | €100,958 | €99,418 | -€1,540 | -1.5% |
| Profit (loss) for the period | 9904 | €242,374 | €215,137 | -€27,236 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €242,374 | €215,137 | -€27,236 | -11.2% |
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 7 October 2026 via checked.be.