MAJAPAT: 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.
MAJAPAT
Largest movements
- Receivables after one year -€145,182
down €145,182 (-35.7%), from €406,198 to €261,015
- Cash +€101,848
up €101,848 (+85.9%), from €118,525 to €220,373
mainly Receivables after one year (+€145,182) and Net result for the year (+€7,131)
- Tangible fixed assets +€37,873
up €37,873 (+23.3%), from €162,730 to €200,604
of which Furniture and vehicles: +€38,604
- Reserves +€7,131
up €7,131 (+1.4%), from €503,937 to €511,069
of which Distributable reserves: +€7,131
- Trade debts -€7,079
down €7,079 (-93.2%), from €7,593 to €514
- Depreciation +€4,199
up €4,199 (+167.9%), from €2,501 to €6,700
- Taxes -€1,206
down €1,206 (-28.4%), from €4,253 to €3,047
- Gross operating margin +€711
up €711 (+1.6%), from €45,684 to €46,394
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 | €694,721 | €691,315 | -€3,406 | -0.5% |
| Fixed assets | 21/28 | €162,730 | €200,604 | +€37,873 | +23.3% |
| Tangible fixed assets | 22/27 | €162,730 | €200,604 | +€37,873 | +23.3% |
| Land and buildings | 22 | €161,289 | €160,558 | -€730 | -0.5% |
| Furniture and vehicles | 24 | €1,442 | €40,046 | +€38,604 | +2677.6% |
| Current assets | 29/58 | €531,991 | €490,711 | -€41,280 | -7.8% |
| Amounts receivable after more than one year | 29 | €406,198 | €261,015 | -€145,182 | -35.7% |
| Other amounts receivable | 291 | €406,198 | €261,015 | -€145,182 | -35.7% |
| Amounts receivable within one year | 40/41 | €6,050 | €8,003 | +€1,953 | +32.3% |
| Trade receivables | 40 | €6,050 | €6,050 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,953 | +€1,953 | |
| Cash at bank and in hand | 54/58 | €118,525 | €220,373 | +€101,848 | +85.9% |
| Deferred charges and accrued income | 490/1 | €1,219 | €1,320 | +€101 | +8.3% |
| Total equity and liabilities | 10/49 | €694,721 | €691,315 | -€3,406 | -0.5% |
| Equity | 10/15 | €522,487 | €529,619 | +€7,131 | +1.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €503,937 | €511,069 | +€7,131 | +1.4% |
| Non-distributable reserves | 130/1 | €13,655 | €13,655 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,655 | €13,655 | = | 0.0% |
| Distributable reserves | 133 | €490,283 | €497,414 | +€7,131 | +1.5% |
| Amounts payable | 17/49 | €172,234 | €161,696 | -€10,538 | -6.1% |
| Amounts payable within one year | 42/48 | €172,234 | €161,696 | -€10,538 | -6.1% |
| Trade debts | 44 | €7,593 | €514 | -€7,079 | -93.2% |
| Suppliers | 440/4 | €7,593 | €514 | -€7,079 | -93.2% |
| Taxes, remuneration and social security | 45 | €11,748 | €6,722 | -€5,026 | -42.8% |
| Taxes | 450/3 | €9,199 | €4,208 | -€4,991 | -54.3% |
| Remuneration and social security | 454/9 | €2,549 | €2,514 | -€35 | -1.4% |
| Other amounts payable | 47/48 | €152,893 | €154,460 | +€1,567 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,501 | €6,700 | +€4,199 | +167.9% |
| Other operating charges | 640/8 | €17,751 | €17,520 | -€231 | -1.3% |
| Gross operating margin | 9900 | €45,684 | €46,394 | +€711 | +1.6% |
| Operating profit (loss) | 9901 | €25,432 | €22,174 | -€3,258 | -12.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €12,369 | €11,995 | -€374 | -3.0% |
| Recurring financial charges | 65 | €12,369 | €11,995 | -€374 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €13,063 | €10,179 | -€2,885 | -22.1% |
| Income taxes | 67/77 | €4,253 | €3,047 | -€1,206 | -28.4% |
| Profit (loss) for the period | 9904 | €8,810 | €7,131 | -€1,679 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,810 | €7,131 | -€1,679 | -19.1% |
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 2 October 2026 via checked.be.