MAJIC: 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.
MAJIC
Largest movements
- Cash -€28,550
down €28,550 (-14.7%), from €193,804 to €165,254
mainly Tax, wage and social debts (-€50,989) and Receivables within one year (-€21,303)
- Receivables within one year +€21,303
up €21,303 (+17.3%), from €123,374 to €144,677
of which Other amounts receivable: +€56,134
- Deferred charges and accrued income +€18,166
up €18,166 (+1,014%), from €1,792 to €19,958
- Reserves +€74,597
up €74,597 (+13.2%), from €564,504 to €639,101
- Tax, wage and social debts -€50,989
down €50,989 (-64.8%), from €78,659 to €27,670
- Trade debts -€13,562
down €13,562 (-67.6%), from €20,051 to €6,489
- Gross operating margin -€1,909
down €1,909 (-1.6%), from €120,938 to €119,029
- Financial charges +€1,576
up €1,576 (+91.1%), from €1,730 to €3,306
- Taxes -€1,322
down €1,322 (-3.4%), from €38,873 to €37,551
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 | €695,604 | €702,977 | +€7,373 | +1.1% |
| Fixed assets | 21/28 | €376,634 | €373,088 | -€3,546 | -0.9% |
| Tangible fixed assets | 22/27 | €8,536 | €4,840 | -€3,696 | -43.3% |
| Plant, machinery and equipment | 23 | €1,966 | €3,470 | +€1,504 | +76.5% |
| Furniture and vehicles | 24 | €6,570 | €1,370 | -€5,200 | -79.1% |
| Financial fixed assets | 28 | €368,098 | €368,248 | +€150 | 0.0% |
| Current assets | 29/58 | €318,970 | €329,889 | +€10,919 | +3.4% |
| Amounts receivable within one year | 40/41 | €123,374 | €144,677 | +€21,303 | +17.3% |
| Trade receivables | 40 | €89,430 | €54,599 | -€34,831 | -38.9% |
| Other amounts receivable | 41 | €33,944 | €90,078 | +€56,134 | +165% |
| Cash at bank and in hand | 54/58 | €193,804 | €165,254 | -€28,550 | -14.7% |
| Deferred charges and accrued income | 490/1 | €1,792 | €19,958 | +€18,166 | +1,014% |
| Total equity and liabilities | 10/49 | €695,604 | €702,977 | +€7,373 | +1.1% |
| Equity | 10/15 | €583,104 | €657,701 | +€74,597 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €564,504 | €639,101 | +€74,597 | +13.2% |
| Distributable reserves | 133 | €564,504 | €639,101 | +€74,597 | +13.2% |
| Amounts payable | 17/49 | €112,500 | €45,276 | -€67,224 | -59.8% |
| Amounts payable within one year | 42/48 | €107,938 | €42,533 | -€65,405 | -60.6% |
| Financial debts | 43 | €7,665 | €6,887 | -€778 | -10.2% |
| Credit institutions | 430/8 | €7,665 | €6,887 | -€778 | -10.2% |
| Trade debts | 44 | €20,051 | €6,489 | -€13,562 | -67.6% |
| Suppliers | 440/4 | €20,051 | €6,489 | -€13,562 | -67.6% |
| Taxes, remuneration and social security | 45 | €78,659 | €27,670 | -€50,989 | -64.8% |
| Taxes | 450/3 | €78,659 | €27,670 | -€50,989 | -64.8% |
| Other amounts payable | 47/48 | €1,563 | €1,487 | -€76 | -4.9% |
| Accrued charges and deferred income | 492/3 | €4,562 | €2,743 | -€1,819 | -39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,507 | €2,517 | -€990 | -28.2% |
| Other operating charges | 640/8 | €816 | €1,059 | +€243 | +29.8% |
| Gross operating margin | 9900 | €120,938 | €119,029 | -€1,909 | -1.6% |
| Operating profit (loss) | 9901 | €116,615 | €115,453 | -€1,162 | -1.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,730 | €3,306 | +€1,576 | +91.1% |
| Recurring financial charges | 65 | €1,730 | €3,306 | +€1,576 | +91.1% |
| Profit (loss) for the period before taxes | 9903 | €114,885 | €112,148 | -€2,737 | -2.4% |
| Income taxes | 67/77 | €38,873 | €37,551 | -€1,322 | -3.4% |
| Profit (loss) for the period | 9904 | €76,012 | €74,597 | -€1,415 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,012 | €74,597 | -€1,415 | -1.9% |
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 25 October 2026 via checked.be.