MAGU: 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.
MAGU
Largest movements
- Receivables within one year +€21,788
up €21,788 (+3318.8%), from €657 to €22,445
of which Trade receivables: +€14,630
- Cash +€21,406
up €21,406 (+288.5%), from €7,420 to €28,826
mainly Net result for the year (+€45,323) and Current portion of long-term debt (+€5,049)
- Reserves +€45,323
up €45,323 (+162.4%), from €27,908 to €73,231
- Tax, wage and social debts -€7,352
no longer reported in 2025 (was €7,352)
- Current portion of long-term debt +€5,049
new in 2025: €5,049
- Gross operating margin +€24,599
up €24,599 (+65.2%), from €37,750 to €62,349
- Taxes +€4,952
up €4,952 (+67.4%), from €7,352 to €12,304
- Depreciation +€1,968
up €1,968 (+278.1%), from €708 to €2,675
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 | €40,278 | €83,909 | +€43,630 | +108.3% |
| Fixed assets | 21/28 | €5,591 | €5,180 | -€411 | -7.4% |
| Tangible fixed assets | 22/27 | €5,591 | €5,180 | -€411 | -7.4% |
| Plant, machinery and equipment | 23 | - | €1,689 | +€1,689 | |
| Furniture and vehicles | 24 | €5,591 | €3,492 | -€2,100 | -37.6% |
| Current assets | 29/58 | €34,687 | €78,728 | +€44,041 | +127.0% |
| Amounts receivable after more than one year | 29 | €26,000 | €26,520 | +€520 | +2.0% |
| Trade receivables | 290 | €26,000 | €26,520 | +€520 | +2.0% |
| Amounts receivable within one year | 40/41 | €657 | €22,445 | +€21,788 | +3318.8% |
| Trade receivables | 40 | €657 | €15,287 | +€14,630 | +2228.4% |
| Other amounts receivable | 41 | - | €7,158 | +€7,158 | |
| Cash at bank and in hand | 54/58 | €7,420 | €28,826 | +€21,406 | +288.5% |
| Deferred charges and accrued income | 490/1 | €611 | €937 | +€327 | +53.5% |
| Total equity and liabilities | 10/49 | €40,278 | €83,909 | +€43,630 | +108.3% |
| Equity | 10/15 | €32,908 | €78,231 | +€45,323 | +137.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,908 | €73,231 | +€45,323 | +162.4% |
| Distributable reserves | 133 | €27,908 | €73,231 | +€45,323 | +162.4% |
| Amounts payable | 17/49 | €7,371 | €5,678 | -€1,693 | -23.0% |
| Amounts payable within one year | 42/48 | €7,371 | €5,678 | -€1,693 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,049 | +€5,049 | |
| Trade debts | 44 | €19 | €629 | +€610 | +3184.5% |
| Suppliers | 440/4 | €19 | €629 | +€610 | +3184.5% |
| Taxes, remuneration and social security | 45 | €7,352 | - | -€7,352 | |
| Taxes | 450/3 | €7,352 | - | -€7,352 | |
| Remuneration, social security and pensions | 62 | €1,224 | €1,744 | +€520 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €708 | €2,675 | +€1,968 | +278.1% |
| Other operating charges | 640/8 | €493 | €518 | +€26 | +5.2% |
| Gross operating margin | 9900 | €37,750 | €62,349 | +€24,599 | +65.2% |
| Operating profit (loss) | 9901 | €35,326 | €57,412 | +€22,086 | +62.5% |
| Financial income | 75/76B | - | €520 | +€520 | |
| Recurring financial income | 75 | - | €520 | +€520 | |
| Financial charges | 65/66B | €66 | €305 | +€238 | +359.8% |
| Recurring financial charges | 65 | €66 | €305 | +€238 | +359.8% |
| Profit (loss) for the period before taxes | 9903 | €35,259 | €57,627 | +€22,368 | +63.4% |
| Income taxes | 67/77 | €7,352 | €12,304 | +€4,952 | +67.4% |
| Profit (loss) for the period | 9904 | €27,908 | €45,323 | +€17,416 | +62.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,908 | €45,323 | +€17,416 | +62.4% |
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 8 October 2026 via checked.be.