MAGIC: what changed
MAGIC
Largest movements
- Receivables within one year -€120,435
down €120,435 (-87.7%), from €137,278 to €16,843
of which Trade receivables: -€120,553
- Cash +€14,141
up €14,141 (+115%), from €12,262 to €26,403
mainly Receivables within one year (+€120,435) and Other debts (+€16,810)
- Deferred charges and accrued income -€2,522
down €2,522 (-77.8%), from €3,240 to €719
- Tangible fixed assets +€2,028
up €2,028 (+43.9%), from €4,615 to €6,644
- Trade debts -€82,653
down €82,653 (-72.9%), from €113,430 to €30,777
- Profit (loss) carried forward -€39,020
down €39,020 (-29.0%), from -€134,685 to -€173,705
- Other debts +€16,810
up €16,810 (+27.8%), from €60,537 to €77,347
- Tax, wage and social debts -€4,977
down €4,977 (-79.5%), from €6,257 to €1,281
- Accrued charges and deferred income +€3,052
up €3,052 (+26.6%), from €11,460 to €14,512
- Gross operating margin -€41,731
down €41,731, from €9,864 to -€31,866
- Taxes -€3,765
down €3,765 (-91.4%), from €4,119 to €355
- Other operating charges +€1,003
up €1,003 (+28.9%), from €3,466 to €4,469
- Depreciation +€646
up €646 (+51.6%), from €1,251 to €1,896
- Financial charges +€601
up €601 (+95.2%), from €631 to €1,232
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,396 | €50,609 | -€106,787 | -67.8% |
| Fixed assets | 21/28 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Tangible fixed assets | 22/27 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Furniture and vehicles | 24 | €4,615 | €6,644 | +€2,028 | +43.9% |
| Current assets | 29/58 | €152,781 | €43,965 | -€108,816 | -71.2% |
| Amounts receivable within one year | 40/41 | €137,278 | €16,843 | -€120,435 | -87.7% |
| Trade receivables | 40 | €133,381 | €12,827 | -€120,553 | -90.4% |
| Other amounts receivable | 41 | €3,897 | €4,016 | +€119 | +3.0% |
| Cash at bank and in hand | 54/58 | €12,262 | €26,403 | +€14,141 | +115% |
| Deferred charges and accrued income | 490/1 | €3,240 | €719 | -€2,522 | -77.8% |
| Total equity and liabilities | 10/49 | €157,396 | €50,609 | -€106,787 | -67.8% |
| Equity | 10/15 | -€34,288 | -€73,308 | -€39,020 | -114% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €38,424 | €38,424 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €32,226 | €32,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,685 | -€173,705 | -€39,020 | -29.0% |
| Amounts payable | 17/49 | €191,684 | €123,917 | -€67,767 | -35.4% |
| Amounts payable within one year | 42/48 | €180,224 | €109,404 | -€70,820 | -39.3% |
| Trade debts | 44 | €113,430 | €30,777 | -€82,653 | -72.9% |
| Suppliers | 440/4 | €113,430 | €30,777 | -€82,653 | -72.9% |
| Taxes, remuneration and social security | 45 | €6,257 | €1,281 | -€4,977 | -79.5% |
| Taxes | 450/3 | €6,257 | €1,281 | -€4,977 | -79.5% |
| Other amounts payable | 47/48 | €60,537 | €77,347 | +€16,810 | +27.8% |
| Accrued charges and deferred income | 492/3 | €11,460 | €14,512 | +€3,052 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,251 | €1,896 | +€646 | +51.6% |
| Other operating charges | 640/8 | €3,466 | €4,469 | +€1,003 | +28.9% |
| Gross operating margin | 9900 | €9,864 | -€31,866 | -€41,731 | |
| Operating profit (loss) | 9901 | €5,148 | -€38,232 | -€43,379 | |
| Financial income | 75/76B | €1,381 | €798 | -€583 | -42.2% |
| Recurring financial income | 75 | €1,381 | €798 | -€583 | -42.2% |
| Financial charges | 65/66B | €631 | €1,232 | +€601 | +95.2% |
| Recurring financial charges | 65 | €631 | €1,232 | +€601 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €5,897 | -€38,665 | -€44,563 | |
| Income taxes | 67/77 | €4,119 | €355 | -€3,765 | -91.4% |
| Profit (loss) for the period | 9904 | €1,778 | -€39,020 | -€40,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,778 | -€39,020 | -€40,798 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.