MAJA CONSEIL: 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.
MAJA CONSEIL
Largest movements
- Financial fixed assets +€99,500
up €99,500 (+38.2%), from €260,500 to €360,000
- Receivables after one year +€80,000
up €80,000 (+319%), from €25,092 to €105,092
- Cash +€28,177
up €28,177 (+43.9%), from €64,229 to €92,406
mainly Other debts (+€209,475) and Net result for the year (+€175,971)
- Receivables within one year -€22,771
down €22,771 (-79.4%), from €28,671 to €5,900
of which Trade receivables: -€23,222
- Other debts +€209,475
new in 2025: €209,475
- Reserves -€33,504
down €33,504 (-10.5%), from €320,164 to €286,660
- Tax, wage and social debts +€10,723
up €10,723 (+15.2%), from €70,340 to €81,063
of which Taxes: +€12,261
- Gross operating margin +€27,763
up €27,763 (+12.8%), from €217,079 to €244,842
- Taxes -€6,540
down €6,540 (-9.5%), from €68,802 to €62,261
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 | €391,648 | €579,017 | +€187,368 | +47.8% |
| Fixed assets | 21/28 | €273,224 | €374,790 | +€101,566 | +37.2% |
| Tangible fixed assets | 22/27 | €12,724 | €14,790 | +€2,066 | +16.2% |
| Furniture and vehicles | 24 | €12,724 | €14,790 | +€2,066 | +16.2% |
| Financial fixed assets | 28 | €260,500 | €360,000 | +€99,500 | +38.2% |
| Current assets | 29/58 | €118,424 | €204,226 | +€85,802 | +72.5% |
| Amounts receivable after more than one year | 29 | €25,092 | €105,092 | +€80,000 | +319% |
| Other amounts receivable | 291 | €25,092 | €105,092 | +€80,000 | +319% |
| Amounts receivable within one year | 40/41 | €28,671 | €5,900 | -€22,771 | -79.4% |
| Trade receivables | 40 | €23,222 | - | -€23,222 | |
| Other amounts receivable | 41 | €5,449 | €5,900 | +€451 | +8.3% |
| Cash at bank and in hand | 54/58 | €64,229 | €92,406 | +€28,177 | +43.9% |
| Deferred charges and accrued income | 490/1 | €432 | €828 | +€397 | +92.0% |
| Total equity and liabilities | 10/49 | €391,648 | €579,017 | +€187,368 | +47.8% |
| Equity | 10/15 | €321,164 | €287,660 | -€33,504 | -10.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €320,164 | €286,660 | -€33,504 | -10.5% |
| Distributable reserves | 133 | €320,164 | €286,660 | -€33,504 | -10.5% |
| Amounts payable | 17/49 | €70,484 | €291,356 | +€220,873 | +313% |
| Amounts payable within one year | 42/48 | €70,484 | €291,356 | +€220,873 | +313% |
| Trade debts | 44 | €144 | €818 | +€674 | +467% |
| Suppliers | 440/4 | €144 | €818 | +€674 | +467% |
| Taxes, remuneration and social security | 45 | €70,340 | €81,063 | +€10,723 | +15.2% |
| Taxes | 450/3 | €68,802 | €81,063 | +€12,261 | +17.8% |
| Remuneration and social security | 454/9 | €1,538 | - | -€1,538 | |
| Other amounts payable | 47/48 | - | €209,475 | +€209,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,739 | €6,934 | +€195 | +2.9% |
| Other operating charges | 640/8 | €1,545 | €593 | -€953 | -61.7% |
| Gross operating margin | 9900 | €217,079 | €244,842 | +€27,763 | +12.8% |
| Operating profit (loss) | 9901 | €208,795 | €237,315 | +€28,521 | +13.7% |
| Financial income | 75/76B | €92 | €1,895 | +€1,803 | +1,957% |
| Recurring financial income | 75 | €92 | €1,895 | +€1,803 | +1,957% |
| Financial charges | 65/66B | €104 | €978 | +€874 | +840% |
| Recurring financial charges | 65 | €104 | €978 | +€874 | +840% |
| Profit (loss) for the period before taxes | 9903 | €208,783 | €238,232 | +€29,450 | +14.1% |
| Income taxes | 67/77 | €68,802 | €62,261 | -€6,540 | -9.5% |
| Profit (loss) for the period | 9904 | €139,981 | €175,971 | +€35,990 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,981 | €175,971 | +€35,990 | +25.7% |
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 28 October 2026 via checked.be.