MAJAK: what changed
Two fiscal 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.
MAJAK
Largest movements
- Cash -€4,676
down €4,676 (-55.2%), from €8,472 to €3,795
mainly Contributions, distributions and other (-€22,500) and Debts after one year (-€6,392)
- Current investments +€2,708
up €2,708 (+26.8%), from €10,100 to €12,808
- Tangible fixed assets -€2,545
down €2,545 (-13.2%), from €19,329 to €16,784
of which Furniture and vehicles: -€2,325
- Receivables within one year -€1,733
down €1,733 (-16.9%), from €10,256 to €8,523
of which Other amounts receivable: -€10,150
- Deferred charges and accrued income -€1,371
down €1,371 (-16.5%), from €8,311 to €6,940
- Debts after one year -€6,392
down €6,392 (-48.5%), from €13,178 to €6,785
- Tax, wage and social debts +€5,515
up €5,515 (+243.3%), from €2,267 to €7,782
- Reserves -€4,352
down €4,352 (-34.1%), from €12,747 to €8,395
- Trade debts -€3,899
down €3,899 (-49.6%), from €7,855 to €3,956
- Other debts +€1,339
up €1,339 (+10.9%), from €12,325 to €13,664
- Gross operating margin +€10,926
up €10,926 (+51.9%), from €21,071 to €31,997
- Other operating charges -€6,973
down €6,973 (-80.2%), from €8,698 to €1,725
- Taxes +€3,634
up €3,634 (+133.0%), from €2,732 to €6,366
- Depreciation +€2,971
up €2,971 (+214.0%), from €1,388 to €4,360
- Financial charges -€918
down €918 (-41.8%), from €2,195 to €1,278
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.
Cash bridge derived
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 | €56,593 | €48,975 | -€7,618 | -13.5% |
| Fixed assets | 21/28 | €19,454 | €16,909 | -€2,545 | -13.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €19,329 | €16,784 | -€2,545 | -13.2% |
| Plant, machinery and equipment | 23 | €246 | €25 | -€220 | -89.7% |
| Furniture and vehicles | 24 | €19,084 | €16,759 | -€2,325 | -12.2% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €37,138 | €32,066 | -€5,072 | -13.7% |
| Amounts receivable within one year | 40/41 | €10,256 | €8,523 | -€1,733 | -16.9% |
| Trade receivables | 40 | €0 | €8,417 | +€8,417 | |
| Other amounts receivable | 41 | €10,256 | €106 | -€10,150 | -99.0% |
| Current investments | 50/53 | €10,100 | €12,808 | +€2,708 | +26.8% |
| Cash at bank and in hand | 54/58 | €8,472 | €3,795 | -€4,676 | -55.2% |
| Deferred charges and accrued income | 490/1 | €8,311 | €6,940 | -€1,371 | -16.5% |
| Total equity and liabilities | 10/49 | €56,593 | €48,975 | -€7,618 | -13.5% |
| Equity | 10/15 | €14,747 | €10,395 | -€4,352 | -29.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €12,747 | €8,395 | -€4,352 | -34.1% |
| Distributable reserves | 133 | €12,747 | €8,395 | -€4,352 | -34.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,846 | €38,580 | -€3,266 | -7.8% |
| Amounts payable after more than one year | 17 | €13,178 | €6,785 | -€6,392 | -48.5% |
| Financial debts | 170/4 | €13,178 | €6,785 | -€6,392 | -48.5% |
| Amounts payable within one year | 42/48 | €28,668 | €31,795 | +€3,127 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €6,022 | €6,392 | +€370 | +6.1% |
| Financial debts | 43 | €199 | €0 | -€199 | -100.0% |
| Credit institutions | 430/8 | €199 | €0 | -€199 | -100.0% |
| Trade debts | 44 | €7,855 | €3,956 | -€3,899 | -49.6% |
| Suppliers | 440/4 | €7,855 | €3,956 | -€3,899 | -49.6% |
| Taxes, remuneration and social security | 45 | €2,267 | €7,782 | +€5,515 | +243.3% |
| Taxes | 450/3 | €2,267 | €7,782 | +€5,515 | +243.3% |
| Other amounts payable | 47/48 | €12,325 | €13,664 | +€1,339 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,388 | €4,360 | +€2,971 | +214.0% |
| Other operating charges | 640/8 | €8,698 | €1,725 | -€6,973 | -80.2% |
| Non-recurring operating charges | 66A | - | €220 | +€220 | |
| Gross operating margin | 9900 | €21,071 | €31,997 | +€10,926 | +51.9% |
| Operating profit (loss) | 9901 | €10,985 | €25,692 | +€14,707 | +133.9% |
| Financial income | 75/76B | €433 | €100 | -€333 | -76.9% |
| Recurring financial income | 75 | €433 | €100 | -€333 | -76.9% |
| Financial charges | 65/66B | €2,195 | €1,278 | -€918 | -41.8% |
| Recurring financial charges | 65 | €2,195 | €1,278 | -€918 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €9,223 | €24,514 | +€15,291 | +165.8% |
| Income taxes | 67/77 | €2,732 | €6,366 | +€3,634 | +133.0% |
| Profit (loss) for the period | 9904 | €6,491 | €18,148 | +€11,657 | +179.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,491 | €18,148 | +€11,657 | +179.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.