MAJAST: 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.
MAJAST
Largest movements
- Receivables within one year +€88,845
up €88,845 (+23.6%), from €377,101 to €465,946
- Reserves +€65,083
up €65,083 (+97.3%), from €66,868 to €131,951
of which Distributable reserves: +€65,083
- Gross operating margin +€10,094
up €10,094 (+11.7%), from €86,210 to €96,305
- Taxes +€3,243
up €3,243 (+12.0%), from €27,129 to €30,372
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 | €2,610,145 | €2,695,105 | +€84,960 | +3.3% |
| Fixed assets | 21/28 | €2,225,631 | €2,225,631 | = | 0.0% |
| Financial fixed assets | 28 | €2,225,631 | €2,225,631 | = | 0.0% |
| Current assets | 29/58 | €384,514 | €469,474 | +€84,960 | +22.1% |
| Amounts receivable within one year | 40/41 | €377,101 | €465,946 | +€88,845 | +23.6% |
| Trade receivables | 40 | €377,101 | €465,946 | +€88,845 | +23.6% |
| Cash at bank and in hand | 54/58 | €6,100 | €2,404 | -€3,696 | -60.6% |
| Deferred charges and accrued income | 490/1 | €1,313 | €1,124 | -€189 | -14.4% |
| Total equity and liabilities | 10/49 | €2,610,145 | €2,695,105 | +€84,960 | +3.3% |
| Equity | 10/15 | €2,582,648 | €2,647,731 | +€65,083 | +2.5% |
| Contributions | 10/11 | €2,027,000 | €2,027,000 | = | 0.0% |
| Reserves | 13 | €66,868 | €131,951 | +€65,083 | +97.3% |
| Non-distributable reserves | 130/1 | €8,735 | €8,735 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,735 | €8,735 | = | 0.0% |
| Distributable reserves | 133 | €58,133 | €123,216 | +€65,083 | +112.0% |
| Profit (loss) carried forward | 14 | €488,780 | €488,780 | = | 0.0% |
| Amounts payable | 17/49 | €27,497 | €47,374 | +€19,877 | +72.3% |
| Amounts payable within one year | 42/48 | €27,497 | €47,374 | +€19,877 | +72.3% |
| Financial debts | 43 | €6,813 | €6,792 | -€21 | -0.3% |
| Other loans | 439 | €6,813 | €6,792 | -€21 | -0.3% |
| Trade debts | 44 | €207 | €13,604 | +€13,397 | +6483.4% |
| Suppliers | 440/4 | €207 | €13,604 | +€13,397 | +6483.4% |
| Taxes, remuneration and social security | 45 | €20,478 | €26,978 | +€6,501 | +31.7% |
| Taxes | 450/3 | €20,478 | €26,978 | +€6,501 | +31.7% |
| Other operating charges | 640/8 | €250 | €128 | -€122 | -48.8% |
| Gross operating margin | 9900 | €86,210 | €96,305 | +€10,094 | +11.7% |
| Operating profit (loss) | 9901 | €85,960 | €96,177 | +€10,216 | +11.9% |
| Financial charges | 65/66B | €699 | €721 | +€23 | +3.2% |
| Recurring financial charges | 65 | €699 | €721 | +€23 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €85,261 | €95,455 | +€10,194 | +12.0% |
| Income taxes | 67/77 | €27,129 | €30,372 | +€3,243 | +12.0% |
| Profit (loss) for the period | 9904 | €58,133 | €65,083 | +€6,950 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,133 | €65,083 | +€6,950 | +12.0% |
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 6 October 2026 via checked.be.