MAJIBE: 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.
MAJIBE
Largest movements
- Current investments +€118,798
up €118,798 (+127%), from €93,182 to €211,981
- Receivables within one year -€47,786
down €47,786 (-67.3%), from €70,959 to €23,172
of which Trade receivables: -€29,534
- Tangible fixed assets -€40,444
down €40,444 (-11.0%), from €367,462 to €327,018
of which Other tangible fixed assets: -€35,450
- Other debts +€84,000
up €84,000 (+311%), from €27,000 to €111,000
- Debts after one year -€42,852
down €42,852 (-40.6%), from €105,534 to €62,682
- Trade debts -€8,253
down €8,253 (-8.9%), from €92,612 to €84,358
- Staff costs -€32,116
down €32,116 (-5.2%), from €621,483 to €589,367
- Depreciation +€9,838
up €9,838 (+11.0%), from €89,381 to €99,219
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 | €622,724 | €651,123 | +€28,399 | +4.6% |
| Fixed assets | 21/28 | €368,248 | €327,805 | -€40,444 | -11.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €367,462 | €327,018 | -€40,444 | -11.0% |
| Plant, machinery and equipment | 23 | €80,194 | €83,438 | +€3,244 | +4.0% |
| Furniture and vehicles | 24 | €13,876 | €5,639 | -€8,238 | -59.4% |
| Other tangible fixed assets | 26 | €273,392 | €237,941 | -€35,450 | -13.0% |
| Financial fixed assets | 28 | €787 | €787 | = | 0.0% |
| Current assets | 29/58 | €254,476 | €323,318 | +€68,842 | +27.1% |
| Stocks and contracts in progress | 3 | €6,980 | €8,301 | +€1,321 | +18.9% |
| Stocks | 30/36 | €6,980 | €8,301 | +€1,321 | +18.9% |
| Amounts receivable within one year | 40/41 | €70,959 | €23,172 | -€47,786 | -67.3% |
| Trade receivables | 40 | €40,162 | €10,627 | -€29,534 | -73.5% |
| Other amounts receivable | 41 | €30,797 | €12,545 | -€18,252 | -59.3% |
| Current investments | 50/53 | €93,182 | €211,981 | +€118,798 | +127% |
| Cash at bank and in hand | 54/58 | €83,355 | €79,865 | -€3,490 | -4.2% |
| Total equity and liabilities | 10/49 | €622,724 | €651,123 | +€28,399 | +4.6% |
| Equity | 10/15 | €239,587 | €239,721 | +€134 | +0.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €214,587 | €214,721 | +€134 | +0.1% |
| Distributable reserves | 133 | €214,587 | €214,721 | +€134 | +0.1% |
| Amounts payable | 17/49 | €383,138 | €411,402 | +€28,264 | +7.4% |
| Amounts payable after more than one year | 17 | €105,534 | €62,682 | -€42,852 | -40.6% |
| Financial debts | 170/4 | €105,534 | €62,682 | -€42,852 | -40.6% |
| Amounts payable within one year | 42/48 | €277,604 | €348,720 | +€71,116 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €41,463 | €42,852 | +€1,388 | +3.3% |
| Trade debts | 44 | €92,612 | €84,358 | -€8,253 | -8.9% |
| Suppliers | 440/4 | €92,612 | €84,358 | -€8,253 | -8.9% |
| Taxes, remuneration and social security | 45 | €116,529 | €110,510 | -€6,019 | -5.2% |
| Taxes | 450/3 | €56,476 | €51,727 | -€4,749 | -8.4% |
| Remuneration and social security | 454/9 | €60,053 | €58,783 | -€1,270 | -2.1% |
| Other amounts payable | 47/48 | €27,000 | €111,000 | +€84,000 | +311% |
| Remuneration, social security and pensions | 62 | €621,483 | €589,367 | -€32,116 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,381 | €99,219 | +€9,838 | +11.0% |
| Other operating charges | 640/8 | €8,469 | €4,545 | -€3,925 | -46.3% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €842,018 | €847,605 | +€5,587 | +0.7% |
| Operating profit (loss) | 9901 | €122,685 | €154,475 | +€31,790 | +25.9% |
| Financial income | 75/76B | €1,595 | €1,053 | -€541 | -33.9% |
| Recurring financial income | 75 | €1,595 | €1,053 | -€541 | -33.9% |
| Financial charges | 65/66B | €13,962 | €12,514 | -€1,448 | -10.4% |
| Recurring financial charges | 65 | €13,962 | €12,514 | -€1,448 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €110,318 | €143,015 | +€32,697 | +29.6% |
| Income taxes | 67/77 | €23,932 | €31,881 | +€7,949 | +33.2% |
| Profit (loss) for the period | 9904 | €86,387 | €111,134 | +€24,748 | +28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €86,387 | €111,134 | +€24,748 | +28.6% |
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 16 October 2026 via checked.be.