MAJHA: 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.
MAJHA
Largest movements
- Cash +€34,515
up €34,515 (+350.1%), from €9,858 to €44,373
mainly Stocks and contracts (+€23,890) and Debts after one year (+€21,943)
- Stocks and contracts -€23,890
down €23,890 (-49.4%), from €48,328 to €24,438
- Tangible fixed assets +€22,032
new in 2025: €22,032
- Debts after one year +€21,943
new in 2025: €21,943
- Profit (loss) carried forward +€20,423
up €20,423 (+158.1%), from €12,916 to €33,339
- Other debts -€7,486
down €7,486 (-75.2%), from €9,959 to €2,473
- Trade debts -€4,463
down €4,463 (-20.8%), from €21,430 to €16,967
- Tax, wage and social debts +€2,410
up €2,410 (+22.8%), from €10,554 to €12,964
of which Taxes: +€2,197
- Purchases and services -€119,407
down €119,407 (-21.4%), from €557,813 to €438,406
- Gross operating margin +€91,551
up €91,551 (+706.8%), from €12,953 to €104,504
- Staff costs +€69,679
up €69,679 (+1040.9%), from €6,694 to €76,373
- Turnover -€27,856
down €27,856 (-4.9%), from €570,766 to €542,910
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 | €58,186 | €90,877 | +€32,691 | +56.2% |
| Fixed assets | 21/28 | - | €22,032 | +€22,032 | |
| Tangible fixed assets | 22/27 | - | €22,032 | +€22,032 | |
| Plant, machinery and equipment | 23 | - | €22,032 | +€22,032 | |
| Current assets | 29/58 | €58,186 | €68,845 | +€10,659 | +18.3% |
| Stocks and contracts in progress | 3 | €48,328 | €24,438 | -€23,890 | -49.4% |
| Stocks | 30/36 | €48,328 | €24,438 | -€23,890 | -49.4% |
| Amounts receivable within one year | 40/41 | - | €34 | +€34 | |
| Trade receivables | 40 | - | €34 | +€34 | |
| Cash at bank and in hand | 54/58 | €9,858 | €44,373 | +€34,515 | +350.1% |
| Total equity and liabilities | 10/49 | €58,186 | €90,877 | +€32,691 | +56.2% |
| Equity | 10/15 | €16,107 | €36,530 | +€20,423 | +126.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | - | -€2,000 | |
| Share premium | 1100/10 | €2,000 | - | -€2,000 | |
| Reserves | 13 | €1,191 | €1,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,191 | €1,191 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,191 | €1,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,916 | €33,339 | +€20,423 | +158.1% |
| Amounts payable | 17/49 | €42,079 | €54,347 | +€12,268 | +29.2% |
| Amounts payable after more than one year | 17 | - | €21,943 | +€21,943 | |
| Financial debts | 170/4 | - | €21,943 | +€21,943 | |
| Amounts payable within one year | 42/48 | €42,079 | €32,404 | -€9,675 | -23.0% |
| Financial debts | 43 | €136 | - | -€136 | |
| Credit institutions | 430/8 | €136 | - | -€136 | |
| Trade debts | 44 | €21,430 | €16,967 | -€4,463 | -20.8% |
| Suppliers | 440/4 | €21,430 | €16,967 | -€4,463 | -20.8% |
| Taxes, remuneration and social security | 45 | €10,554 | €12,964 | +€2,410 | +22.8% |
| Taxes | 450/3 | €8,532 | €10,729 | +€2,197 | +25.8% |
| Remuneration and social security | 454/9 | €2,022 | €2,235 | +€213 | +10.5% |
| Other amounts payable | 47/48 | €9,959 | €2,473 | -€7,486 | -75.2% |
| Turnover | 70 | €570,766 | €542,910 | -€27,856 | -4.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €557,813 | €438,406 | -€119,407 | -21.4% |
| Remuneration, social security and pensions | 62 | €6,694 | €76,373 | +€69,679 | +1040.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €418 | +€418 | |
| Other operating charges | 640/8 | €2,181 | €1,693 | -€488 | -22.4% |
| Gross operating margin | 9900 | €12,953 | €104,504 | +€91,551 | +706.8% |
| Operating profit (loss) | 9901 | €4,078 | €26,020 | +€21,942 | +538.1% |
| Financial charges | 65/66B | €899 | €491 | -€408 | -45.4% |
| Recurring financial charges | 65 | €899 | €491 | -€408 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €3,179 | €25,529 | +€22,350 | +703.1% |
| Income taxes | 67/77 | - | €5,106 | +€5,106 | |
| Profit (loss) for the period | 9904 | €3,179 | €20,423 | +€17,244 | +542.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,179 | €20,423 | +€17,244 | +542.4% |
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 8 October 2026 via checked.be.