M.J.S.: 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.S.
Largest movements
- Tangible fixed assets -€10,435
down €10,435 (-36.6%), from €28,514 to €18,079
of which Furniture and vehicles: -€9,711
- Stocks and contracts +€6,133
up €6,133 (+8.1%), from €75,646 to €81,779
- Cash -€1,865
down €1,865 (-83.9%), from €2,224 to €359
mainly Stocks and contracts (-€6,133) and Debts after one year (-€6,130)
- Deferred charges and accrued income -€1,238
down €1,238 (-100%), from €1,238 to €0
- Debts after one year -€6,130
down €6,130 (-100%), from €6,130 to €0
- Trade debts +€4,862
up €4,862 (+34.7%), from €13,998 to €18,860
- Profit (loss) carried forward -€2,819
down €2,819 (-14.7%), from -€19,237 to -€22,055
- Tax, wage and social debts -€2,092
down €2,092 (-32.5%), from €6,444 to €4,352
of which Remuneration and social security: -€6,000
- Current portion of long-term debt -€1,226
down €1,226 (-16.7%), from €7,356 to €6,130
- Gross operating margin +€4,020
up €4,020 (+52.2%), from €7,698 to €11,718
- Depreciation +€2,526
up €2,526 (+31.9%), from €7,909 to €10,435
- Other operating charges -€1,848
down €1,848 (-35.9%), from €5,149 to €3,301
- Taxes +€358
up €358 (+104%), from €344 to €702
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 | €112,122 | €104,716 | -€7,405 | -6.6% |
| Fixed assets | 21/28 | €33,014 | €22,579 | -€10,435 | -31.6% |
| Tangible fixed assets | 22/27 | €28,514 | €18,079 | -€10,435 | -36.6% |
| Plant, machinery and equipment | 23 | €1,449 | €724 | -€724 | -50.0% |
| Furniture and vehicles | 24 | €27,065 | €17,355 | -€9,711 | -35.9% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €79,108 | €82,137 | +€3,030 | +3.8% |
| Stocks and contracts in progress | 3 | €75,646 | €81,779 | +€6,133 | +8.1% |
| Stocks | 30/36 | €75,646 | €81,779 | +€6,133 | +8.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,224 | €359 | -€1,865 | -83.9% |
| Deferred charges and accrued income | 490/1 | €1,238 | €0 | -€1,238 | -100% |
| Total equity and liabilities | 10/49 | €112,122 | €104,716 | -€7,405 | -6.6% |
| Equity | 10/15 | -€624 | -€3,443 | -€2,819 | -452% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13 | €13 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13 | €13 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13 | €13 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,237 | -€22,055 | -€2,819 | -14.7% |
| Amounts payable | 17/49 | €112,745 | €108,159 | -€4,587 | -4.1% |
| Amounts payable after more than one year | 17 | €6,130 | €0 | -€6,130 | -100% |
| Financial debts | 170/4 | €6,130 | €0 | -€6,130 | -100% |
| Amounts payable within one year | 42/48 | €106,615 | €108,159 | +€1,544 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €7,356 | €6,130 | -€1,226 | -16.7% |
| Trade debts | 44 | €13,998 | €18,860 | +€4,862 | +34.7% |
| Suppliers | 440/4 | €13,998 | €18,860 | +€4,862 | +34.7% |
| Taxes, remuneration and social security | 45 | €6,444 | €4,352 | -€2,092 | -32.5% |
| Taxes | 450/3 | €444 | €4,352 | +€3,908 | +879% |
| Remuneration and social security | 454/9 | €6,000 | €0 | -€6,000 | -100% |
| Other amounts payable | 47/48 | €78,816 | €78,816 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,909 | €10,435 | +€2,526 | +31.9% |
| Other operating charges | 640/8 | €5,149 | €3,301 | -€1,848 | -35.9% |
| Gross operating margin | 9900 | €7,698 | €11,718 | +€4,020 | +52.2% |
| Operating profit (loss) | 9901 | -€5,360 | -€2,018 | +€3,342 | +62.4% |
| Financial charges | 65/66B | €104 | €99 | -€5 | -4.3% |
| Recurring financial charges | 65 | €104 | €99 | -€5 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,463 | -€2,117 | +€3,346 | +61.3% |
| Income taxes | 67/77 | €344 | €702 | +€358 | +104% |
| Profit (loss) for the period | 9904 | -€5,808 | -€2,819 | +€2,989 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,808 | -€2,819 | +€2,989 | +51.5% |
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.