MAJE: 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.
MAJE
Largest movements
- Tangible fixed assets +€10,063
up €10,063 (+6.2%), from €161,514 to €171,577
of which Plant, machinery and equipment: +€10,063
- Receivables within one year -€3,656
down €3,656 (-39.6%), from €9,227 to €5,571
of which Trade receivables: -€6,027
- Current portion of long-term debt -€48,524
down €48,524 (-96.3%), from €50,384 to €1,860
- Debts after one year +€35,572
up €35,572 (+34.6%), from €102,820 to €138,391
- Profit (loss) carried forward +€16,788
up €16,788 (+27.9%), from -€60,259 to -€43,471
- Tax, wage and social debts +€5,329
up €5,329 (+555.5%), from €959 to €6,288
- Gross operating margin +€6,239
up €6,239 (+20.1%), from €31,054 to €37,292
- Taxes +€5,329
up €5,329 (+555.5%), from €959 to €6,288
- Financial charges +€1,524
up €1,524 (+23.5%), from €6,484 to €8,008
- Other operating charges -€736
down €736 (-19.4%), from €3,800 to €3,063
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 | €176,394 | €182,851 | +€6,458 | +3.7% |
| Fixed assets | 21/28 | €161,514 | €171,577 | +€10,063 | +6.2% |
| Tangible fixed assets | 22/27 | €161,514 | €171,577 | +€10,063 | +6.2% |
| Land and buildings | 22 | €146,108 | €146,108 | = | 0.0% |
| Plant, machinery and equipment | 23 | €15,406 | €25,469 | +€10,063 | +65.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €14,880 | €11,274 | -€3,606 | -24.2% |
| Amounts receivable within one year | 40/41 | €9,227 | €5,571 | -€3,656 | -39.6% |
| Trade receivables | 40 | €9,227 | €3,200 | -€6,027 | -65.3% |
| Other amounts receivable | 41 | €0 | €2,371 | +€2,371 | |
| Cash at bank and in hand | 54/58 | €5,135 | €5,152 | +€17 | +0.3% |
| Deferred charges and accrued income | 490/1 | €518 | €551 | +€33 | +6.4% |
| Total equity and liabilities | 10/49 | €176,394 | €182,851 | +€6,458 | +3.7% |
| Equity | 10/15 | -€16,397 | €391 | +€16,788 | |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €6,678 | €6,678 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €678 | €678 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,259 | -€43,471 | +€16,788 | +27.9% |
| Amounts payable | 17/49 | €192,790 | €182,460 | -€10,330 | -5.4% |
| Amounts payable after more than one year | 17 | €102,820 | €138,391 | +€35,572 | +34.6% |
| Financial debts | 170/4 | €102,820 | €138,391 | +€35,572 | +34.6% |
| Amounts payable within one year | 42/48 | €89,971 | €44,046 | -€45,925 | -51.0% |
| Current portion of amounts payable after more than one year | 42 | €50,384 | €1,860 | -€48,524 | -96.3% |
| Trade debts | 44 | €12,378 | €10,597 | -€1,780 | -14.4% |
| Suppliers | 440/4 | €12,378 | €10,597 | -€1,780 | -14.4% |
| Taxes, remuneration and social security | 45 | €959 | €6,288 | +€5,329 | +555.5% |
| Taxes | 450/3 | €959 | €6,288 | +€5,329 | +555.5% |
| Other amounts payable | 47/48 | €26,250 | €25,300 | -€950 | -3.6% |
| Accrued charges and deferred income | 492/3 | - | €23 | +€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,807 | €3,145 | +€338 | +12.0% |
| Other operating charges | 640/8 | €3,800 | €3,063 | -€736 | -19.4% |
| Gross operating margin | 9900 | €31,054 | €37,292 | +€6,239 | +20.1% |
| Operating profit (loss) | 9901 | €24,447 | €31,084 | +€6,637 | +27.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,484 | €8,008 | +€1,524 | +23.5% |
| Recurring financial charges | 65 | €6,484 | €8,008 | +€1,524 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €17,963 | €23,076 | +€5,113 | +28.5% |
| Income taxes | 67/77 | €959 | €6,288 | +€5,329 | +555.5% |
| Profit (loss) for the period | 9904 | €17,003 | €16,788 | -€216 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,003 | €16,788 | -€216 | -1.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.