MAJESTE: 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.
MAJESTE
Largest movements
- Cash +€15,722
up €15,722 (+2,951%), from €533 to €16,254
mainly Tax, wage and social debts (+€18,412) and Net result for the year (+€16,587)
- Receivables within one year -€3,641
down €3,641 (-3.3%), from €109,759 to €106,118
of which Trade receivables: -€2,222
- Stocks and contracts +€3,244
up €3,244 (+283%), from €1,145 to €4,389
- Tangible fixed assets -€1,799
down €1,799 (-21.5%), from €8,380 to €6,581
of which Plant, machinery and equipment: -€1,565
- Trade debts -€21,067
down €21,067 (-60.5%), from €34,833 to €13,766
- Tax, wage and social debts +€18,412
up €18,412 (+81.3%), from €22,641 to €41,053
of which Taxes: +€18,412
- Profit (loss) carried forward +€16,587
up €16,587 (+94.6%), from €17,543 to €34,130
- Gross operating margin +€11,840
up €11,840 (+38.2%), from €31,034 to €42,874
- Staff costs +€5,520
up €5,520 (+31.9%), from €17,318 to €22,838
- Taxes +€1,968
up €1,968 (+46.1%), from €4,270 to €6,238
- Other operating charges -€1,456
down €1,456 (-72.2%), from €2,017 to €561
- Depreciation +€1,303
up €1,303 (+263%), from €496 to €1,799
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.
Derived cash bridge
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 | €119,909 | €133,817 | +€13,908 | +11.6% |
| Fixed assets | 21/28 | €8,380 | €6,581 | -€1,799 | -21.5% |
| Tangible fixed assets | 22/27 | €8,380 | €6,581 | -€1,799 | -21.5% |
| Plant, machinery and equipment | 23 | €7,876 | €6,312 | -€1,565 | -19.9% |
| Furniture and vehicles | 24 | €504 | €270 | -€234 | -46.4% |
| Current assets | 29/58 | €111,529 | €127,236 | +€15,707 | +14.1% |
| Stocks and contracts in progress | 3 | €1,145 | €4,389 | +€3,244 | +283% |
| Stocks | 30/36 | €1,145 | €4,389 | +€3,244 | +283% |
| Amounts receivable within one year | 40/41 | €109,759 | €106,118 | -€3,641 | -3.3% |
| Trade receivables | 40 | €7,688 | €5,467 | -€2,222 | -28.9% |
| Other amounts receivable | 41 | €102,071 | €100,651 | -€1,419 | -1.4% |
| Cash at bank and in hand | 54/58 | €533 | €16,254 | +€15,722 | +2,951% |
| Deferred charges and accrued income | 490/1 | €92 | €474 | +€382 | +416% |
| Total equity and liabilities | 10/49 | €119,909 | €133,817 | +€13,908 | +11.6% |
| Equity | 10/15 | €62,411 | €78,998 | +€16,587 | +26.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €24,868 | €24,868 | = | 0.0% |
| Distributable reserves | 133 | €24,868 | €24,868 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,543 | €34,130 | +€16,587 | +94.6% |
| Amounts payable | 17/49 | €57,498 | €54,819 | -€2,679 | -4.7% |
| Amounts payable within one year | 42/48 | €57,474 | €54,819 | -€2,655 | -4.6% |
| Trade debts | 44 | €34,833 | €13,766 | -€21,067 | -60.5% |
| Suppliers | 440/4 | €34,833 | €13,766 | -€21,067 | -60.5% |
| Taxes, remuneration and social security | 45 | €22,641 | €41,053 | +€18,412 | +81.3% |
| Taxes | 450/3 | €22,641 | €41,053 | +€18,412 | +81.3% |
| Remuneration and social security | 454/9 | €0 | - | -€0 | |
| Accrued charges and deferred income | 492/3 | €24 | - | -€24 | |
| Remuneration, social security and pensions | 62 | €17,318 | €22,838 | +€5,520 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €496 | €1,799 | +€1,303 | +263% |
| Other operating charges | 640/8 | €2,017 | €561 | -€1,456 | -72.2% |
| Gross operating margin | 9900 | €31,034 | €42,874 | +€11,840 | +38.2% |
| Operating profit (loss) | 9901 | €11,203 | €17,677 | +€6,474 | +57.8% |
| Financial income | 75/76B | €5,385 | €5,490 | +€104 | +1.9% |
| Recurring financial income | 75 | €5,385 | €5,490 | +€104 | +1.9% |
| Financial charges | 65/66B | €381 | €341 | -€39 | -10.3% |
| Recurring financial charges | 65 | €381 | €341 | -€39 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €16,208 | €22,825 | +€6,617 | +40.8% |
| Income taxes | 67/77 | €4,270 | €6,238 | +€1,968 | +46.1% |
| Profit (loss) for the period | 9904 | €11,938 | €16,587 | +€4,649 | +38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,938 | €16,587 | +€4,649 | +38.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.