Majengo: 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.
Majengo
Largest movements
- Cash -€32,576
down €32,576 (-41.2%), from €79,030 to €46,454
mainly Investment in fixed assets (net) (-€45,732) and Net result for the year (-€23,992)
- Receivables within one year +€12,665
up €12,665 (+65.4%), from €19,351 to €32,016
of which Other amounts receivable: +€7,200
- Profit (loss) carried forward -€23,992
new in 2025: -€23,992
- Gross operating margin -€85,078
down €85,078 (-70.7%), from €120,348 to €35,270
- Depreciation -€30,842
down €30,842 (-37.5%), from €82,261 to €51,419
- Other operating charges -€5,976
down €5,976 (-43.4%), from €13,774 to €7,798
- Taxes -€5,066
down €5,066 (-100.0%), from €5,066 to €0
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 | €1,219,470 | €1,196,098 | -€23,372 | -1.9% |
| Fixed assets | 21/28 | €1,113,976 | €1,108,289 | -€5,687 | -0.5% |
| Tangible fixed assets | 22/27 | €1,106,476 | €1,100,789 | -€5,687 | -0.5% |
| Land and buildings | 22 | €1,106,476 | €1,058,943 | -€47,533 | -4.3% |
| Plant, machinery and equipment | 23 | - | €19,177 | +€19,177 | |
| Furniture and vehicles | 24 | - | €22,669 | +€22,669 | |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €105,494 | €87,809 | -€17,685 | -16.8% |
| Stocks and contracts in progress | 3 | - | €58 | +€58 | |
| Stocks | 30/36 | - | €58 | +€58 | |
| Amounts receivable within one year | 40/41 | €19,351 | €32,016 | +€12,665 | +65.4% |
| Trade receivables | 40 | - | €5,465 | +€5,465 | |
| Other amounts receivable | 41 | €19,351 | €26,551 | +€7,200 | +37.2% |
| Cash at bank and in hand | 54/58 | €79,030 | €46,454 | -€32,576 | -41.2% |
| Deferred charges and accrued income | 490/1 | €7,113 | €9,282 | +€2,169 | +30.5% |
| Total equity and liabilities | 10/49 | €1,219,470 | €1,196,098 | -€23,372 | -1.9% |
| Equity | 10/15 | €1,114,169 | €1,090,177 | -€23,992 | -2.2% |
| Contributions | 10/11 | €1,095,000 | €1,095,000 | = | 0.0% |
| Reserves | 13 | €19,169 | €19,169 | = | 0.0% |
| Distributable reserves | 133 | €19,169 | €19,169 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€23,992 | -€23,992 | |
| Amounts payable | 17/49 | €105,301 | €105,921 | +€620 | +0.6% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,301 | €75,921 | +€620 | +0.8% |
| Trade debts | 44 | €974 | €3,164 | +€2,190 | +224.9% |
| Suppliers | 440/4 | €974 | €3,164 | +€2,190 | +224.9% |
| Taxes, remuneration and social security | 45 | €1,917 | €1,917 | = | 0.0% |
| Taxes | 450/3 | €1,917 | €1,917 | = | 0.0% |
| Other amounts payable | 47/48 | €72,410 | €70,840 | -€1,570 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,261 | €51,419 | -€30,842 | -37.5% |
| Other operating charges | 640/8 | €13,774 | €7,798 | -€5,976 | -43.4% |
| Gross operating margin | 9900 | €120,348 | €35,270 | -€85,078 | -70.7% |
| Operating profit (loss) | 9901 | €24,314 | -€23,947 | -€48,260 | |
| Financial charges | 65/66B | €79 | €45 | -€34 | -42.7% |
| Recurring financial charges | 65 | €79 | €45 | -€34 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | €24,235 | -€23,992 | -€48,227 | |
| Income taxes | 67/77 | €5,066 | €0 | -€5,066 | -100.0% |
| Profit (loss) for the period | 9904 | €19,169 | -€23,992 | -€43,161 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,169 | -€23,992 | -€43,161 |
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.