MAJACOM: 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.
MAJACOM
Largest movements
- Cash -€54,475
down €54,475 (-63.3%), from €86,080 to €31,605
mainly Contributions, distributions and other (-€188,756) and Current portion of long-term debt (-€7,243)
- Receivables within one year -€12,916
down €12,916 (-13.9%), from €92,728 to €79,812
of which Trade receivables: -€14,046
- Tangible fixed assets -€8,476
down €8,476 (-52.5%), from €16,143 to €7,667
- Profit (loss) carried forward -€155,761
no longer reported in 2025 (was €155,761)
- Other debts +€90,618
new in 2025: €90,618
- Current portion of long-term debt -€7,243
no longer reported in 2025 (was €7,243)
- Trade debts -€2,869
down €2,869 (-42.2%), from €6,798 to €3,929
- Gross operating margin -€26,305
down €26,305 (-30.8%), from €85,305 to €59,000
- Taxes -€6,713
down €6,713 (-31.0%), from €21,648 to €14,935
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 | €199,057 | €123,510 | -€75,547 | -38.0% |
| Fixed assets | 21/28 | €16,627 | €8,151 | -€8,476 | -51.0% |
| Tangible fixed assets | 22/27 | €16,143 | €7,667 | -€8,476 | -52.5% |
| Furniture and vehicles | 24 | €16,143 | €7,667 | -€8,476 | -52.5% |
| Financial fixed assets | 28 | €484 | €484 | = | 0.0% |
| Current assets | 29/58 | €182,430 | €115,359 | -€67,071 | -36.8% |
| Amounts receivable within one year | 40/41 | €92,728 | €79,812 | -€12,916 | -13.9% |
| Trade receivables | 40 | €83,793 | €69,747 | -€14,046 | -16.8% |
| Other amounts receivable | 41 | €8,936 | €10,065 | +€1,129 | +12.6% |
| Cash at bank and in hand | 54/58 | €86,080 | €31,605 | -€54,475 | -63.3% |
| Deferred charges and accrued income | 490/1 | €3,622 | €3,943 | +€321 | +8.8% |
| Total equity and liabilities | 10/49 | €199,057 | €123,510 | -€75,547 | -38.0% |
| Equity | 10/15 | €176,221 | €20,460 | -€155,761 | -88.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,761 | - | -€155,761 | |
| Amounts payable | 17/49 | €22,836 | €103,050 | +€80,214 | +351% |
| Amounts payable within one year | 42/48 | €22,836 | €103,050 | +€80,214 | +351% |
| Current portion of amounts payable after more than one year | 42 | €7,243 | - | -€7,243 | |
| Trade debts | 44 | €6,798 | €3,929 | -€2,869 | -42.2% |
| Suppliers | 440/4 | €6,798 | €3,929 | -€2,869 | -42.2% |
| Taxes, remuneration and social security | 45 | €8,796 | €8,503 | -€292 | -3.3% |
| Taxes | 450/3 | €8,796 | €8,503 | -€292 | -3.3% |
| Other amounts payable | 47/48 | - | €90,618 | +€90,618 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,860 | €9,773 | -€88 | -0.9% |
| Other operating charges | 640/8 | €769 | €1,117 | +€349 | +45.3% |
| Gross operating margin | 9900 | €85,305 | €59,000 | -€26,305 | -30.8% |
| Operating profit (loss) | 9901 | €74,676 | €48,109 | -€26,567 | -35.6% |
| Financial income | 75/76B | €714 | - | -€714 | |
| Recurring financial income | 75 | €714 | - | -€714 | |
| Financial charges | 65/66B | €217 | €179 | -€38 | -17.5% |
| Recurring financial charges | 65 | €217 | €179 | -€38 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €75,172 | €47,930 | -€27,242 | -36.2% |
| Income taxes | 67/77 | €21,648 | €14,935 | -€6,713 | -31.0% |
| Profit (loss) for the period | 9904 | €53,525 | €32,995 | -€20,530 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,525 | €32,995 | -€20,530 | -38.4% |
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 27 October 2026 via checked.be.