MAGWA: what changed
Two financial 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.
MAGWA
Largest movements
- Receivables within one year -€60,635
down €60,635 (-96.8%), from €62,644 to €2,009
- Cash +€52,360
up €52,360 (+65.1%), from €80,433 to €132,793
mainly Net result for the year (+€67,342) and Receivables within one year (+€60,635)
- Tangible fixed assets -€9,550
down €9,550 (-26.9%), from €35,552 to €26,001
- Profit (loss) carried forward -€33,658
down €33,658 (-55.3%), from €60,897 to €27,239
- Other debts +€17,850
up €17,850 (+26.2%), from €68,218 to €86,068
- Trade debts -€2,758
down €2,758 (-22.1%), from €12,500 to €9,742
- Gross operating margin -€45,150
down €45,150 (-31.1%), from €145,379 to €100,229
- Taxes -€11,846
down €11,846 (-34.0%), from €34,838 to €22,991
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.
Derived cash bridge
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 | €180,881 | €163,222 | -€17,659 | -9.8% |
| Fixed assets | 21/28 | €35,552 | €26,001 | -€9,550 | -26.9% |
| Tangible fixed assets | 22/27 | €35,552 | €26,001 | -€9,550 | -26.9% |
| Furniture and vehicles | 24 | €35,552 | €26,001 | -€9,550 | -26.9% |
| Current assets | 29/58 | €145,329 | €137,221 | -€8,108 | -5.6% |
| Amounts receivable within one year | 40/41 | €62,644 | €2,009 | -€60,635 | -96.8% |
| Trade receivables | 40 | €62,644 | €2,009 | -€60,635 | -96.8% |
| Cash at bank and in hand | 54/58 | €80,433 | €132,793 | +€52,360 | +65.1% |
| Deferred charges and accrued income | 490/1 | €2,253 | €2,420 | +€167 | +7.4% |
| Total equity and liabilities | 10/49 | €180,881 | €163,222 | -€17,659 | -9.8% |
| Equity | 10/15 | €63,897 | €30,239 | -€33,658 | -52.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,897 | €27,239 | -€33,658 | -55.3% |
| Amounts payable | 17/49 | €116,984 | €132,983 | +€15,999 | +13.7% |
| Amounts payable within one year | 42/48 | €116,984 | €132,983 | +€15,999 | +13.7% |
| Trade debts | 44 | €12,500 | €9,742 | -€2,758 | -22.1% |
| Suppliers | 440/4 | €12,500 | €9,742 | -€2,758 | -22.1% |
| Taxes, remuneration and social security | 45 | €36,266 | €37,173 | +€907 | +2.5% |
| Taxes | 450/3 | €36,266 | €37,173 | +€907 | +2.5% |
| Other amounts payable | 47/48 | €68,218 | €86,068 | +€17,850 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,550 | €9,550 | = | 0.0% |
| Other operating charges | 640/8 | €952 | €109 | -€843 | -88.5% |
| Gross operating margin | 9900 | €145,379 | €100,229 | -€45,150 | -31.1% |
| Operating profit (loss) | 9901 | €134,876 | €90,569 | -€44,307 | -32.9% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €138 | €243 | +€105 | +76.1% |
| Recurring financial charges | 65 | €138 | €243 | +€105 | +76.1% |
| Profit (loss) for the period before taxes | 9903 | €134,738 | €90,333 | -€44,405 | -33.0% |
| Income taxes | 67/77 | €34,838 | €22,991 | -€11,846 | -34.0% |
| Profit (loss) for the period | 9904 | €99,900 | €67,342 | -€32,558 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,900 | €67,342 | -€32,558 | -32.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.