M.J.M. INVEST: 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.
M.J.M. INVEST
Largest movements
- Receivables within one year +€51,738
up €51,738 (+1,844%), from €2,805 to €54,543
of which Trade receivables: +€36,300
- Tangible fixed assets -€33,865
down €33,865 (-1.5%), from €2.2m to €2.2m
- Reserves +€218,854
up €218,854 (+17.7%), from €1.2m to €1.5m
of which Distributable reserves: +€218,854
- Other debts -€101,726
down €101,726 (-22.3%), from €455,425 to €353,699
- Debts after one year -€98,354
down €98,354 (-13.4%), from €732,696 to €634,343
- Gross operating margin +€58,825
up €58,825 (+16.8%), from €349,346 to €408,171
- Taxes +€13,750
up €13,750 (+16.5%), from €83,188 to €96,938
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 | €2,583,931 | €2,609,967 | +€26,036 | +1.0% |
| Fixed assets | 21/28 | €2,241,449 | €2,207,583 | -€33,865 | -1.5% |
| Tangible fixed assets | 22/27 | €2,241,449 | €2,207,583 | -€33,865 | -1.5% |
| Land and buildings | 22 | €2,241,449 | €2,207,583 | -€33,865 | -1.5% |
| Current assets | 29/58 | €342,482 | €402,384 | +€59,902 | +17.5% |
| Amounts receivable within one year | 40/41 | €2,805 | €54,543 | +€51,738 | +1,844% |
| Trade receivables | 40 | €53 | €36,353 | +€36,300 | +69,143% |
| Other amounts receivable | 41 | €2,753 | €18,190 | +€15,438 | +561% |
| Cash at bank and in hand | 54/58 | €328,669 | €344,621 | +€15,952 | +4.9% |
| Deferred charges and accrued income | 490/1 | €11,008 | €3,220 | -€7,788 | -70.7% |
| Total equity and liabilities | 10/49 | €2,583,931 | €2,609,967 | +€26,036 | +1.0% |
| Equity | 10/15 | €1,244,419 | €1,463,273 | +€218,854 | +17.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,238,219 | €1,457,073 | +€218,854 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,236,359 | €1,455,213 | +€218,854 | +17.7% |
| Amounts payable | 17/49 | €1,339,512 | €1,146,694 | -€192,818 | -14.4% |
| Amounts payable after more than one year | 17 | €732,696 | €634,343 | -€98,354 | -13.4% |
| Financial debts | 170/4 | €732,696 | €634,343 | -€98,354 | -13.4% |
| Amounts payable within one year | 42/48 | €579,878 | €477,357 | -€102,521 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €96,330 | €97,850 | +€1,520 | +1.6% |
| Trade debts | 44 | €7,887 | €7,998 | +€111 | +1.4% |
| Suppliers | 440/4 | €7,887 | €7,998 | +€111 | +1.4% |
| Taxes, remuneration and social security | 45 | €20,237 | €17,810 | -€2,426 | -12.0% |
| Taxes | 450/3 | €13,537 | €17,810 | +€4,274 | +31.6% |
| Remuneration and social security | 454/9 | €6,700 | €0 | -€6,700 | -100% |
| Other amounts payable | 47/48 | €455,425 | €353,699 | -€101,726 | -22.3% |
| Accrued charges and deferred income | 492/3 | €26,938 | €34,995 | +€8,057 | +29.9% |
| Non-recurring operating income | 76A | - | €5,785 | +€5,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,865 | €33,865 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,896 | €2,624 | -€272 | -9.4% |
| Gross operating margin | 9900 | €349,346 | €408,171 | +€58,825 | +16.8% |
| Operating profit (loss) | 9901 | €312,585 | €371,682 | +€59,096 | +18.9% |
| Financial income | 75/76B | €3,141 | €16 | -€3,125 | -99.5% |
| Recurring financial income | 75 | €3,141 | €16 | -€3,125 | -99.5% |
| Financial charges | 65/66B | €52,020 | €55,906 | +€3,886 | +7.5% |
| Recurring financial charges | 65 | €52,020 | €55,906 | +€3,886 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €263,706 | €315,792 | +€52,086 | +19.8% |
| Income taxes | 67/77 | €83,188 | €96,938 | +€13,750 | +16.5% |
| Profit (loss) for the period | 9904 | €180,518 | €218,854 | +€38,336 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €180,518 | €218,854 | +€38,336 | +21.2% |
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.