MAJA HORECA: 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 HORECA
Largest movements
- Tangible fixed assets +€19,161
up €19,161 (+9.7%), from €196,654 to €215,814
of which Furniture and vehicles: +€17,998
- Cash -€18,706
down €18,706 (-18.4%), from €101,549 to €82,843
mainly Investment in fixed assets (net) (-€47,540) and Debts after one year (-€18,983)
- Receivables within one year -€12,756
down €12,756 (-66.4%), from €19,207 to €6,451
of which Other amounts receivable: -€11,484
- Stocks and contracts -€5,764
down €5,764 (-61.1%), from €9,426 to €3,662
- Debts after one year -€18,983
down €18,983 (-15.5%), from €122,169 to €103,186
- Other debts +€13,885
up €13,885 (+557%), from €2,495 to €16,381
- Trade debts -€13,571
down €13,571 (-69.2%), from €19,609 to €6,039
- Tax, wage and social debts -€10,754
down €10,754 (-36.2%), from €29,669 to €18,914
of which Remuneration and social security: -€16,491
- Reserves +€9,000
up €9,000 (+17.4%), from €51,860 to €60,860
of which Distributable reserves: +€9,000
- Turnover -€394,156
no longer reported in 2025 (was €394,156)
- Purchases and services -€345,293
no longer reported in 2025 (was €345,293)
- Gross operating margin +€5,063
up €5,063 (+10.0%), from €50,773 to €55,836
- Depreciation +€4,783
up €4,783 (+20.3%), from €23,596 to €28,379
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 | €332,006 | €312,562 | -€19,444 | -5.9% |
| Fixed assets | 21/28 | €196,654 | €215,814 | +€19,161 | +9.7% |
| Tangible fixed assets | 22/27 | €196,654 | €215,814 | +€19,161 | +9.7% |
| Land and buildings | 22 | €145,440 | €136,721 | -€8,719 | -6.0% |
| Plant, machinery and equipment | 23 | €20,483 | €30,365 | +€9,881 | +48.2% |
| Furniture and vehicles | 24 | €30,731 | €48,729 | +€17,998 | +58.6% |
| Current assets | 29/58 | €135,352 | €96,747 | -€38,605 | -28.5% |
| Stocks and contracts in progress | 3 | €9,426 | €3,662 | -€5,764 | -61.1% |
| Stocks | 30/36 | €9,426 | €3,662 | -€5,764 | -61.1% |
| Amounts receivable within one year | 40/41 | €19,207 | €6,451 | -€12,756 | -66.4% |
| Trade receivables | 40 | €7,574 | €6,302 | -€1,271 | -16.8% |
| Other amounts receivable | 41 | €11,633 | €149 | -€11,484 | -98.7% |
| Cash at bank and in hand | 54/58 | €101,549 | €82,843 | -€18,706 | -18.4% |
| Deferred charges and accrued income | 490/1 | €5,171 | €3,791 | -€1,379 | -26.7% |
| Total equity and liabilities | 10/49 | €332,006 | €312,562 | -€19,444 | -5.9% |
| Equity | 10/15 | €139,710 | €149,059 | +€9,349 | +6.7% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €51,860 | €60,860 | +€9,000 | +17.4% |
| 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 | €50,000 | €59,000 | +€9,000 | +18.0% |
| Profit (loss) carried forward | 14 | €69,850 | €70,199 | +€349 | +0.5% |
| Amounts payable | 17/49 | €192,296 | €163,503 | -€28,793 | -15.0% |
| Amounts payable after more than one year | 17 | €122,169 | €103,186 | -€18,983 | -15.5% |
| Financial debts | 170/4 | €122,169 | €103,186 | -€18,983 | -15.5% |
| Amounts payable within one year | 42/48 | €70,127 | €60,317 | -€9,810 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €18,354 | €18,983 | +€630 | +3.4% |
| Trade debts | 44 | €19,609 | €6,039 | -€13,571 | -69.2% |
| Suppliers | 440/4 | €19,609 | €6,039 | -€13,571 | -69.2% |
| Taxes, remuneration and social security | 45 | €29,669 | €18,914 | -€10,754 | -36.2% |
| Taxes | 450/3 | €6,364 | €12,101 | +€5,737 | +90.1% |
| Remuneration and social security | 454/9 | €23,305 | €6,813 | -€16,491 | -70.8% |
| Other amounts payable | 47/48 | €2,495 | €16,381 | +€13,885 | +557% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €394,156 | - | -€394,156 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €345,293 | - | -€345,293 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,596 | €28,379 | +€4,783 | +20.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,334 | €4,740 | +€406 | +9.4% |
| Gross operating margin | 9900 | €50,773 | €55,836 | +€5,063 | +10.0% |
| Operating profit (loss) | 9901 | €22,843 | €22,717 | -€126 | -0.6% |
| Financial income | 75/76B | €34 | €1 | -€33 | -97.3% |
| Recurring financial income | 75 | €34 | €1 | -€33 | -97.3% |
| Financial charges | 65/66B | €6,581 | €7,964 | +€1,383 | +21.0% |
| Recurring financial charges | 65 | €6,581 | €7,964 | +€1,383 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €16,296 | €14,754 | -€1,542 | -9.5% |
| Income taxes | 67/77 | €6,142 | €5,404 | -€738 | -12.0% |
| Profit (loss) for the period | 9904 | €10,154 | €9,349 | -€804 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,154 | €9,349 | -€804 | -7.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.