MAJDALANI: 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.
MAJDALANI
Largest movements
- Cash +€27,917
up €27,917 (+18.5%), from €151,241 to €179,158
mainly Other debts (+€93,061) and Net result for the year (+€54,292)
- Deferred charges and accrued income +€15,266
up €15,266 (+118.0%), from €12,932 to €28,198
- Intangible fixed assets +€4,168
up €4,168 (+107.5%), from €3,876 to €8,044
- Receivables within one year -€3,519
down €3,519 (-56.1%), from €6,274 to €2,755
- Other debts +€93,061
up €93,061 (+300196.8%), from €31 to €93,092
- Reserves -€38,800
down €38,800 (-23.3%), from €166,284 to €127,484
- Tax, wage and social debts -€7,253
no longer reported in 2025 (was €7,253)
of which Taxes: -€4,757
- Trade debts -€4,410
down €4,410 (-88.8%), from €4,968 to €558
- Gross operating margin +€20,917
up €20,917 (+37.8%), from €55,344 to €76,261
- Taxes +€3,848
up €3,848 (+35.9%), from €10,724 to €14,572
- Depreciation +€3,198
up €3,198 (+93.3%), from €3,426 to €6,624
- Financial income +€1,383
new in 2025: €1,383
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 | €181,536 | €224,134 | +€42,598 | +23.5% |
| Fixed assets | 21/28 | €11,089 | €14,023 | +€2,934 | +26.5% |
| Intangible fixed assets | 21 | €3,876 | €8,044 | +€4,168 | +107.5% |
| Tangible fixed assets | 22/27 | €7,213 | €5,979 | -€1,234 | -17.1% |
| Furniture and vehicles | 24 | €7,213 | €5,979 | -€1,234 | -17.1% |
| Current assets | 29/58 | €170,447 | €210,111 | +€39,664 | +23.3% |
| Amounts receivable within one year | 40/41 | €6,274 | €2,755 | -€3,519 | -56.1% |
| Other amounts receivable | 41 | €6,274 | €2,755 | -€3,519 | -56.1% |
| Cash at bank and in hand | 54/58 | €151,241 | €179,158 | +€27,917 | +18.5% |
| Deferred charges and accrued income | 490/1 | €12,932 | €28,198 | +€15,266 | +118.0% |
| Total equity and liabilities | 10/49 | €181,536 | €224,134 | +€42,598 | +23.5% |
| Equity | 10/15 | €169,284 | €130,484 | -€38,800 | -22.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €166,284 | €127,484 | -€38,800 | -23.3% |
| Distributable reserves | 133 | €166,284 | €127,484 | -€38,800 | -23.3% |
| Amounts payable | 17/49 | €12,252 | €93,650 | +€81,398 | +664.4% |
| Amounts payable within one year | 42/48 | €12,252 | €93,650 | +€81,398 | +664.4% |
| Trade debts | 44 | €4,968 | €558 | -€4,410 | -88.8% |
| Suppliers | 440/4 | €4,968 | €558 | -€4,410 | -88.8% |
| Taxes, remuneration and social security | 45 | €7,253 | - | -€7,253 | |
| Taxes | 450/3 | €4,757 | - | -€4,757 | |
| Remuneration and social security | 454/9 | €2,496 | - | -€2,496 | |
| Other amounts payable | 47/48 | €31 | €93,092 | +€93,061 | +300196.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,426 | €6,624 | +€3,198 | +93.3% |
| Other operating charges | 640/8 | €676 | €688 | +€12 | +1.8% |
| Gross operating margin | 9900 | €55,344 | €76,261 | +€20,917 | +37.8% |
| Operating profit (loss) | 9901 | €51,242 | €68,949 | +€17,707 | +34.6% |
| Financial income | 75/76B | - | €1,383 | +€1,383 | |
| Recurring financial income | 75 | - | €1,383 | +€1,383 | |
| Financial charges | 65/66B | €1,752 | €1,468 | -€284 | -16.2% |
| Recurring financial charges | 65 | €1,752 | €1,468 | -€284 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €49,490 | €68,864 | +€19,374 | +39.1% |
| Income taxes | 67/77 | €10,724 | €14,572 | +€3,848 | +35.9% |
| Profit (loss) for the period | 9904 | €38,766 | €54,292 | +€15,526 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,766 | €54,292 | +€15,526 | +40.1% |
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 7 October 2026 via checked.be.