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Magasin Général

MAG · Bourse de Tunis · Consolidated statements

On this page
Company details
Legal name
Société Magasin Général
Listing
MAG on the Bourse de Tunis, active · ISIN TN0006440010 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, final status not established · source

Read with these figures

  • Qualified audit opinion. FY2025: The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Details below.
  • Audited financial statements not confirmed as final. The published copy is unsigned. The FY2025 figures come from it.
Full wording and sources

  • Auditor's report, year to 2025-12-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Fondement de l'opinion avec réserve: subsidiaries' past revaluations produced a global revaluation reserve of 56 003 411 DT in consolidated equity at 31 December 2025, but the group did not follow NCT 5 (revaluation not applied to all assets of the same categories in all group companies, contrary to paragraph 35; some revaluations not based on an independent fair-value appraisal, as paragraph 31 requires); the auditors cannot assess the potential impact of a compliant application on tangible fixed assets and consolidated equity (PDF p40-p41).

    Source: Société Magasin Général Etats financiers consolidés arrêtés au 31 décembre 2025 (Avis des sociétés), p40 (dated 2026-06-08)

  • Audited financial statements for 2025: final status not established

    The commissaires aux comptes' report on the consolidated statements (pp40-44) is dated 'Tunis, le 08 juin 2026' (p40) and qualified ('Opinion avec réserve'), but its signature block shows only the typeset names 'Les commissaires aux comptes Associés M.T.B.F, Ahmed Sahnoun' and 'Cabinet Zahaf et Associés, Mahmoud Zahaf' with no signature or stamp (p44, page image). No board approval date or signature is printed; the notice (p1) says the statements will be submitted to the ordinary general meeting of 19 June 2026.

    Source: Société Magasin Général Etats financiers consolidés arrêtés au 31 décembre 2025 (Avis des sociétés) (dated 2026-06-08)

  • Revenue

    TND 1.20 billion

    1,201,500,150 TND units · p4

    +9.4% vs 2024

  • Operating profit / (loss)

    TND 19.6 million

    19,636,737 TND units · p4

    +53.5% vs 2024

  • Profit / (loss) for the year

    −TND 6.42 million

    (6,419,509) TND units · p4

    Change not shown.

  • Total assets

    TND 599 million

    599,418,898 TND units · p2

    −0.3% vs 2024

  • Total equity

    Not reported in this filing

  • Cash from operations

    TND 98.0 million

    97,984,108 TND units · p5

    +1.3% vs 2024

Large amounts are rounded for reading (TND million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in TND units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, final status not established; reported for the year · source
  • FY2024 — audited financial statements, final status not established; comparative in the FY2025 filing · source

Income statement

Income statement, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Revenus 1,201,500,150 1,098,616,410
Autres produits d'exploitation 39,508,050 40,436,538
TOTAL DES PRODUITS D'EXPLOITATION1 1,241,008,200 1,139,052,949
Achats de marchandises vendues2 (1,002,834,838) (919,581,275)
Charges de personnel (100,120,444) (90,675,962)
Dotations aux amortissements et aux provisions3 (37,091,674) (35,846,383)
Autres charges d'exploitation (81,324,507) (80,156,751)
TOTAL DES CHARGES D'EXPLOITATION4 (1,221,371,463) (1,126,260,372)
RESULTAT D'EXPLOITATION 19,636,737 12,792,577
Charges financières nettes5 (21,764,177) (30,111,634)
Produits des placements6 55,906 647,741
Autres gains ordinaires7 1,434,272 6,046,852
Autres pertes ordinaires8 (953,485) (2,278,139)
Quote-part des titres mis en équivalence (129,420) (161,049)
RESULTAT COURANTS DES SOCIETES INTEGREES (1,720,167) (13,063,653)
Impôts différés9 824,983 5,685,818
Impôt sur les sociétés10 (5,524,325) (2,690,517)
RESULTAT NET DES SOCIETES INTEGREES11 (6,419,509) (10,068,352)
RESULTAT NET CONSOLIDE (6,419,509) (10,068,352)
Part revenant aux intérêts minoritaires12 1,933 (689)
Notes and alternative reported figures (12)
  1. “TOTAL DES PRODUITS D'EXPLOITATION” is an issuer-specific line, not mapped to a shared definition: Revenue plus other operating income.
  2. “Achats de marchandises vendues”: mapping to a shared definition is uncertain. Printed 'Achats de marchandises vendues' (purchases of goods sold, a retailer's cost of goods).
  3. “Dotations aux amortissements et aux provisions” is an issuer-specific line, not mapped to a shared definition: Note 20.
  4. “TOTAL DES CHARGES D'EXPLOITATION” is an issuer-specific line, not mapped to a shared definition: Operating charges (printed negative).
  5. “Charges financières nettes”: mapping to a shared definition is uncertain. Printed 'Charges financières nettes' (net finance charges, note 22).
  6. “Produits des placements” is an issuer-specific line, not mapped to a shared definition: Note 23.
  7. “Autres gains ordinaires” is an issuer-specific line, not mapped to a shared definition: Note 24.
  8. “Autres pertes ordinaires” is an issuer-specific line, not mapped to a shared definition: Note 25.
  9. “Impôts différés” is an issuer-specific line, not mapped to a shared definition: Note 26: deferred tax (a credit in both years).
  10. “Impôt sur les sociétés”: mapping to a shared definition is uncertain. Current corporate income tax only; deferred tax is printed on its own line above.
  11. “RESULTAT NET DES SOCIETES INTEGREES” is an issuer-specific line, not mapped to a shared definition: Printed subtotal after taxes, before the consolidated result.
  12. “Part revenant aux intérêts minoritaires” is an issuer-specific line, not mapped to a shared definition: Share of the consolidated result attributable to minorities.

Balance sheet

Balance sheet, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Ecarts d'acquisition (net)1 4,890,613 6,485,614
Immobilisations incorporelles (net) 4,328,156 9,479,163
Immobilisations corporelles (net) 156,459,899 165,664,037
Titres mis en équivalence 1,280,351 1,409,771
Immobilisations financières (net)2 3,595,793 3,552,577
Actifs d'impôts différés 37,908,617 36,939,418
Autres actifs non courants3 176,808 196,155
Total des actifs immobilisés4 208,640,237 223,726,736
TOTAL DES ACTIFS NON COURANTS 208,640,237 223,726,736
Stocks (net) 273,955,734 265,838,463
Clients et comptes rattachés (net) 38,386,209 38,472,368
Autres actifs courants (net)5 62,988,218 59,083,846
Placements et autres actifs financiers 1,744,200 1,901,710
Liquidités et équivalents de liquidités 13,704,300 12,258,854
TOTAL DES ACTIFS COURANTS 390,778,661 377,555,242
TOTAL DES ACTIFS 599,418,898 601,281,978
Capital social 15,777,070 15,777,070
Actions propres6 (131,116) (443,825)
Réserves consolidées7 (148,881,335) (138,780,908)
Réserves spéciales de réévaluation 56,177,003 56,177,003
Total des capitaux propres avant résultat de l'exercice8 (77,058,378) (67,270,660)
Résultat consolidé9 (6,421,442) (10,067,663)
TOTAL DES CAPITAUX PROPRES AVANT AFFECTATION (83,479,820) (77,338,323)
Intérêts des minoritaires dans les réserves10 166,646 163,313
Intérêts des minoritaires dans le résultat11 1,933 (689)
Emprunts et dettes assimilées 30,516,797 53,405,919
Provisions pour risques et charges12 17,697,306 16,197,548
Dépôts et cautionnements reçus13 867,332 828,374
Passifs impôts différés 1,652,580 1,518,094
TOTAL DES PASSIFS NON COURANTS 50,734,015 71,949,935
Fournisseurs et comptes rattachés 443,962,144 389,238,499
Autres passifs courants14 53,717,202 49,507,379
Concours bancaires et autres passifs financiers15 134,316,778 167,761,864
TOTAL DES PASSIFS COURANTS 631,996,124 606,507,742
TOTAL DES PASSIFS 682,730,139 678,457,677
TOTAL DES CAPITAUX PROPRES ET DES PASSIFS 599,418,898 601,281,978
Banques débitrices 61,949,338 76,972,117
Emprunts bancaires échéances à moins d’un an16 70,514,649 87,797,555
Intérêts courus17 1,852,791 2,992,193
Notes and alternative reported figures (17)
  1. “Ecarts d'acquisition (net)” is an issuer-specific line, not mapped to a shared definition: Note 1: goodwill less accumulated amortisation.
  2. “Immobilisations financières (net)” is an issuer-specific line, not mapped to a shared definition: Note 3: financial fixed assets less provisions.
  3. “Autres actifs non courants” is an issuer-specific line, not mapped to a shared definition: Note 5.
  4. “Total des actifs immobilisés” is an issuer-specific line, not mapped to a shared definition: Subtotal of the non-current asset lines.
  5. “Autres actifs courants (net)” is an issuer-specific line, not mapped to a shared definition: Note 8: other current assets less provisions.
  6. “Actions propres” is an issuer-specific line, not mapped to a shared definition: Own shares, deducted in equity.
  7. “Réserves consolidées” is an issuer-specific line, not mapped to a shared definition: Consolidated reserves (negative).
  8. “Total des capitaux propres avant résultat de l'exercice” is an issuer-specific line, not mapped to a shared definition: Group equity before the year's result.
  9. “Résultat consolidé” is an issuer-specific line, not mapped to a shared definition: The year's consolidated result, group share, within equity.
  10. “Intérêts des minoritaires dans les réserves” is an issuer-specific line, not mapped to a shared definition: Minority interests in reserves, printed between group equity and liabilities; no total-equity line includes them.
  11. “Intérêts des minoritaires dans le résultat” is an issuer-specific line, not mapped to a shared definition: Minority interests in the year's result (balance sheet).
  12. “Provisions pour risques et charges” is an issuer-specific line, not mapped to a shared definition: Note 13 (non-current).
  13. “Dépôts et cautionnements reçus” is an issuer-specific line, not mapped to a shared definition: Non-current liability.
  14. “Autres passifs courants” is an issuer-specific line, not mapped to a shared definition: Note 15.
  15. “Concours bancaires et autres passifs financiers”: mapping to a shared definition is uncertain. Bank overdrafts (banques débitrices), current portion of bank loans and accrued interest (note 10, p21).
  16. “Emprunts bancaires échéances à moins d’un an” is an issuer-specific line, not mapped to a shared definition: Note 10: current portion of bank loans, within 'Concours bancaires et autres passifs financiers'.
  17. “Intérêts courus” is an issuer-specific line, not mapped to a shared definition: Note 10: accrued interest, within 'Concours bancaires et autres passifs financiers'.

Cash flow

Cash flow, TND units. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Total des flux de trésorerie liés aux opérations d'exploitation 97,984,108 96,729,792
Décaissement pour acquisition d'immobilisations corporelles et1 (16,304,968) (19,555,108)
Encaissements sur cession d'immobilisations corporelles et incorporelles2 604,822 8,033,068
Décaissements sur charges à répartir3 –4 110,340
Décaissement / Encaissement pour acquisition d'immobilisations5 (39,303) 554,996
Total des flux de trésorerie liés aux opérations d'investissement (15,739,449) (10,856,704)
Variation réserves consolidées6 (26,941) (884,057)
Encaissement et décaissement des emprunts7 (40,172,028) (45,598,548)
Décaissement intérêts sur emprunts8 (25,773,933) (30,111,634)
Dépôt et cautionnements reçus9 38,958 (100,874)
Opérations sur fonds social10 –11 (40,029)
Placement en Billets de trésoreries12 –11 2,000,000
Variation des autres actifs et passifs financiers13 157,510 (5,812,419)
Effet sortie LMG sur la trésorerie14 –11 2,003,895
Total des flux de trésorerie liés aux opérations de financement (65,776,434) (78,543,666)
Variation de trésorerie 16,468,225 7,329,422
Trésorerie au début de l'exercice (64,713,263) (72,042,685)
Trésorerie à la clôture de l'exercice (48,245,038) (64,713,263)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (12)
  1. “Décaissement pour acquisition d'immobilisations corporelles et”: mapping to a shared definition is uncertain. Label printed over two lines ('... corporelles et incorporelles'): tangible and intangible assets together.
  2. “Encaissements sur cession d'immobilisations corporelles et incorporelles”: mapping to a shared definition is uncertain. Tangible and intangible assets together.
  3. “Décaissements sur charges à répartir” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  4. “Décaissement / Encaissement pour acquisition d'immobilisations” is an issuer-specific line, not mapped to a shared definition: Investing activities (net).
  5. “Variation réserves consolidées” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  6. “Encaissement et décaissement des emprunts” is an issuer-specific line, not mapped to a shared definition: Financing activities: borrowings received and repaid (net).
  7. “Décaissement intérêts sur emprunts” is an issuer-specific line, not mapped to a shared definition: Interest paid on borrowings, presented in financing activities.
  8. “Dépôt et cautionnements reçus” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  9. “Opérations sur fonds social” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  10. “Placement en Billets de trésoreries” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  11. “Variation des autres actifs et passifs financiers” is an issuer-specific line, not mapped to a shared definition: Financing activities (note 9).
  12. “Effet sortie LMG sur la trésorerie” is an issuer-specific line, not mapped to a shared definition: Financing activities: effect on cash of a subsidiary leaving the group (2024).

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (final status not established), as reported for the year; FY2024 — audited financial statements (final status not established), comparative reported in the audited financial statements for 2025.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filing
Profit / (loss) attributable to shareholders (TND units)1 (6,421,442) (10,067,663)
Notes and alternative reported figures (1)
  1. Profit / (loss) attributable to shareholders: printed as “RESULTAT NET REVENANT A LA SOCIETE”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Société Magasin Général Etats financiers consolidés arrêtés au 31 décembre 2025 (Avis des sociétés)

    Year ended 31 December 2025 · Audited financial statements · final status not established

    Audit: Les commissaires aux comptes associés M.T.B.F (Ahmed Sahnoun) and Cabinet Zahaf et Associés (Mahmoud Zahaf), qualified opinion · name printed, signature blank

    Final status: The commissaires aux comptes' report on the consolidated statements (pp40-44) is dated 'Tunis, le 08 juin 2026' (p40) and qualified ('Opinion avec réserve'), but its signature block shows only the typeset names 'Les commissaires aux comptes Associés M.T.B.F, Ahmed Sahnoun' and 'Cabinet Zahaf et Associés, Mahmoud Zahaf' with no signature or stamp (p44, page image). No board approval date or signature is printed; the notice (p1) says the statements will be submitted to the ordinary general meeting of 19 June 2026.

    Document date
    8 Jun 2026
    Auditor's report
    8 Jun 2026
    Board approval
    date not found in this document
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · TND units (printed “(Exprimé en dinar tunisien)”)
    • Fondement de l'opinion avec réserve: subsidiaries' past revaluations produced a global revaluation reserve of 56 003 411 DT in consolidated equity at 31 December 2025, but the group did not follow NCT 5 (revaluation not applied to all assets of the same categories in all group companies, contrary to paragraph 35; some revaluations not based on an independent fair-value appraisal, as paragraph 31 requires); the auditors cannot assess the potential impact of a compliant application on tangible fixed assets and consolidated equity (PDF p40-p41).
    • Group equity is negative: 'TOTAL DES CAPITAUX PROPRES AVANT AFFECTATION' (83 479 820) (2024: (77 338 323)) (p3). Note 11 (p22-23) explains it and states that the situation does not call the going-concern principle into question; the auditors' report contains no going-concern paragraph.
    • Minority interests are printed in the balance sheet as two lines ('dans les réserves', 'dans le résultat') below group equity, with no total-equity line (p3); total equity is recorded as a gap.
    • The auditors' report numbers its sections 1, 2, 4, 5 ...: no section 3 is printed (pp40-41, page image); there is no going-concern or observation paragraph.
    • The revaluation reserve is printed 56 177 003 on the balance sheet (p3) and note 11 (p22), while the auditors' basis for qualification cites 56 003 411 DT (p40). Transcribed as printed in the statement.
    Technical details
    File
    44 pages, with a text layer
    SHA-256
    75ba8d86563082a1b57d3b8819fe50e7c6a452b0b9cb2fda87b92cbfabf1baa6
    Entity as printed
    Société Magasin Général; Groupe Société Magasin Général ("SMG")
    Exchange copy
    retrieved 2026-10-08T18:08:03Z

Data notes

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Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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