MAGREMAX: 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.
MAGREMAX
Largest movements
- Cash +€244,426
up €244,426 (+131.3%), from €186,141 to €430,567
mainly Current investments (+€200,000) and Net result for the year (+€97,289)
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Tangible fixed assets -€26,506
down €26,506 (-3.2%), from €836,230 to €809,724
of which Land and buildings: -€36,157
- Other debts -€67,728
down €67,728 (-13.7%), from €494,350 to €426,622
- Reserves +€57,738
up €57,738 (+6.3%), from €916,862 to €974,600
of which Distributable reserves: +€57,738
- Gross operating margin +€13,966
up €13,966 (+6.4%), from €216,531 to €230,497
- Taxes +€6,472
up €6,472 (+16.2%), from €39,990 to €46,462
- Depreciation -€6,191
down €6,191 (-12.7%), from €48,741 to €42,550
- Financial charges +€2,833
up €2,833 (+10.7%), from €26,473 to €29,306
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 | €1,493,140 | €1,504,807 | +€11,667 | +0.8% |
| Fixed assets | 21/28 | €1,021,327 | €994,821 | -€26,506 | -2.6% |
| Tangible fixed assets | 22/27 | €836,230 | €809,724 | -€26,506 | -3.2% |
| Land and buildings | 22 | €802,400 | €766,243 | -€36,157 | -4.5% |
| Plant, machinery and equipment | 23 | €33,830 | €39,513 | +€5,683 | +16.8% |
| Furniture and vehicles | 24 | - | €3,967 | +€3,967 | |
| Financial fixed assets | 28 | €185,097 | €185,097 | = | 0.0% |
| Current assets | 29/58 | €471,813 | €509,987 | +€38,173 | +8.1% |
| Amounts receivable within one year | 40/41 | €56,671 | €59,542 | +€2,871 | +5.1% |
| Other amounts receivable | 41 | €56,671 | €59,542 | +€2,871 | +5.1% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €186,141 | €430,567 | +€244,426 | +131.3% |
| Deferred charges and accrued income | 490/1 | €29,001 | €19,878 | -€9,124 | -31.5% |
| Total equity and liabilities | 10/49 | €1,493,140 | €1,504,807 | +€11,667 | +0.8% |
| Equity | 10/15 | €978,862 | €1,036,600 | +€57,738 | +5.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €916,862 | €974,600 | +€57,738 | +6.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €910,662 | €968,400 | +€57,738 | +6.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €514,279 | €468,207 | -€46,072 | -9.0% |
| Amounts payable within one year | 42/48 | €514,279 | €454,707 | -€59,572 | -11.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,137 | €660 | -€3,476 | -84.0% |
| Suppliers | 440/4 | €4,137 | €660 | -€3,476 | -84.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,792 | €27,424 | +€11,632 | +73.7% |
| Taxes | 450/3 | €15,792 | €27,424 | +€11,632 | +73.7% |
| Other amounts payable | 47/48 | €494,350 | €426,622 | -€67,728 | -13.7% |
| Accrued charges and deferred income | 492/3 | €0 | €13,500 | +€13,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,741 | €42,550 | -€6,191 | -12.7% |
| Other operating charges | 640/8 | €19,855 | €18,679 | -€1,176 | -5.9% |
| Gross operating margin | 9900 | €216,531 | €230,497 | +€13,966 | +6.4% |
| Operating profit (loss) | 9901 | €147,935 | €169,267 | +€21,332 | +14.4% |
| Financial income | 75/76B | €1,581 | €3,789 | +€2,208 | +139.7% |
| Recurring financial income | 75 | €1,581 | €3,789 | +€2,208 | +139.7% |
| Financial charges | 65/66B | €26,473 | €29,306 | +€2,833 | +10.7% |
| Recurring financial charges | 65 | €26,473 | €29,306 | +€2,833 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €123,043 | €143,751 | +€20,708 | +16.8% |
| Income taxes | 67/77 | €39,990 | €46,462 | +€6,472 | +16.2% |
| Profit (loss) for the period | 9904 | €83,053 | €97,289 | +€14,236 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €83,053 | €97,289 | +€14,236 | +17.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.