MAJEB: what changed
MAJEB
Largest movements
- Tangible fixed assets -€48,028
down €48,028 (-21.6%), from €222,135 to €174,107
of which Furniture and vehicles: -€26,339
- Receivables within one year +€25,637
up €25,637 (+70.5%), from €36,372 to €62,009
of which Trade receivables: +€22,782
- Intangible fixed assets +€9,438
up €9,438 (+465%), from €2,028 to €11,466
- Cash -€4,684
down €4,684 (-33.9%), from €13,797 to €9,113
mainly Investment in fixed assets (net) (-€59,582) and Receivables within one year (-€25,637)
- Profit (loss) carried forward -€24,862
down €24,862 (-18.6%), from €133,974 to €109,112
- Trade debts +€16,253
up €16,253 (+2,572%), from €632 to €16,885
- Other debts -€8,205
down €8,205 (-9.5%), from €86,591 to €78,386
- Depreciation +€15,590
up €15,590 (+18.9%), from €82,582 to €98,172
- Gross operating margin -€12,611
down €12,611 (-14.3%), from €87,925 to €75,313
- Taxes -€1,105
down €1,105, from €1,002 to -€102
- Other operating charges -€970
down €970 (-38.3%), from €2,531 to €1,561
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €274,868 | €257,087 | -€17,781 | -6.5% |
| Fixed assets | 21/28 | €224,162 | €185,573 | -€38,590 | -17.2% |
| Intangible fixed assets | 21 | €2,028 | €11,466 | +€9,438 | +465% |
| Tangible fixed assets | 22/27 | €222,135 | €174,107 | -€48,028 | -21.6% |
| Plant, machinery and equipment | 23 | €110,779 | €89,091 | -€21,689 | -19.6% |
| Furniture and vehicles | 24 | €111,355 | €85,016 | -€26,339 | -23.7% |
| Current assets | 29/58 | €50,706 | €71,515 | +€20,809 | +41.0% |
| Amounts receivable within one year | 40/41 | €36,372 | €62,009 | +€25,637 | +70.5% |
| Trade receivables | 40 | €19,032 | €41,814 | +€22,782 | +120% |
| Other amounts receivable | 41 | €17,341 | €20,196 | +€2,855 | +16.5% |
| Cash at bank and in hand | 54/58 | €13,797 | €9,113 | -€4,684 | -33.9% |
| Deferred charges and accrued income | 490/1 | €537 | €393 | -€145 | -26.9% |
| Total equity and liabilities | 10/49 | €274,868 | €257,087 | -€17,781 | -6.5% |
| Equity | 10/15 | €183,974 | €159,112 | -€24,862 | -13.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,974 | €109,112 | -€24,862 | -18.6% |
| Amounts payable | 17/49 | €90,894 | €97,975 | +€7,081 | +7.8% |
| Amounts payable within one year | 42/48 | €90,894 | €97,975 | +€7,081 | +7.8% |
| Financial debts | 43 | €3,671 | €2,704 | -€967 | -26.3% |
| Credit institutions | 430/8 | €3,671 | €2,704 | -€967 | -26.3% |
| Trade debts | 44 | €632 | €16,885 | +€16,253 | +2,572% |
| Suppliers | 440/4 | €632 | €16,885 | +€16,253 | +2,572% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €86,591 | €78,386 | -€8,205 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,582 | €98,172 | +€15,590 | +18.9% |
| Other operating charges | 640/8 | €2,531 | €1,561 | -€970 | -38.3% |
| Gross operating margin | 9900 | €87,925 | €75,313 | -€12,611 | -14.3% |
| Operating profit (loss) | 9901 | €2,812 | -€24,420 | -€27,232 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €1,135 | €545 | -€589 | -51.9% |
| Recurring financial charges | 65 | €1,135 | €545 | -€589 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €1,677 | -€24,964 | -€26,642 | |
| Income taxes | 67/77 | €1,002 | -€102 | -€1,105 | |
| Profit (loss) for the period | 9904 | €675 | -€24,862 | -€25,537 | |
| Profit (loss) for the period to be appropriated | 9905 | €675 | -€24,862 | -€25,537 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.