Abstract: The invention relates to a balance wheel for rotating machines, especially combustion engines, including, for example, outboard motors. Hitherto, such balance wheels or flywheels have been manufactured from different non-ferrous metals as zinc or aluminum alloys, and in one embodiment they have the shape of an inverted pot having low side walls. On the inner side of the walls balance wheel magnets, that is, permanent magnets for the ignition or generator system of the motor, are attached, and the other elements of the ignition or generator systems are disposed outwardly around the output shaft of the engine and inside the "pot". However, for obtaining a suitable magnetic field, the permanent magnets are not attached directly to the balance wheel of a non-magnetic material--zinc or aluminum--but on a ring of magnetic material, for instance steel, which in its turn is attached to the balance wheel.As known, the object of a balance wheel is to act as an accumulator of mechanical energy.