MAJINOX: 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.
MAJINOX
Largest movements
- Receivables within one year +€8,367
up €8,367 (+19.1%), from €43,760 to €52,128
of which Trade receivables: +€12,793
- Stocks and contracts +€5,730
up €5,730 (+59.7%), from €9,600 to €15,330
- Tangible fixed assets +€3,664
up €3,664 (+12.7%), from €28,798 to €32,462
of which Furniture and vehicles: +€11,811
- Cash +€3,203
up €3,203 (+12.9%), from €24,797 to €28,000
mainly Net result for the year (+€30,195) and Tax, wage and social debts (+€20,009)
- Profit (loss) carried forward +€30,195
up €30,195 (+92.8%), from €32,543 to €62,739
- Trade debts -€22,090
down €22,090 (-97.9%), from €22,571 to €481
- Tax, wage and social debts +€20,009
up €20,009 (+161%), from €12,394 to €32,403
of which Remuneration and social security: +€10,610
- Current portion of long-term debt -€9,509
down €9,509 (-67.6%), from €14,058 to €4,549
- Debts after one year +€3,227
up €3,227 (+309%), from €1,044 to €4,271
- Staff costs +€55,935
new in 2025: €55,935
- Gross operating margin +€42,851
up €42,851 (+61.8%), from €69,392 to €112,244
- Taxes -€10,000
down €10,000 (-70.3%), from €14,223 to €4,223
- Other operating charges -€6,281
down €6,281 (-81.0%), from €7,750 to €1,469
- Depreciation -€1,214
down €1,214 (-5.9%), from €20,637 to €19,423
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 | €113,375 | €135,366 | +€21,990 | +19.4% |
| Fixed assets | 21/28 | €28,798 | €32,462 | +€3,664 | +12.7% |
| Tangible fixed assets | 22/27 | €28,798 | €32,462 | +€3,664 | +12.7% |
| Land and buildings | 22 | €3,194 | €2,554 | -€640 | -20.0% |
| Plant, machinery and equipment | 23 | €11,885 | €4,379 | -€7,507 | -63.2% |
| Furniture and vehicles | 24 | €13,719 | €25,530 | +€11,811 | +86.1% |
| Current assets | 29/58 | €84,577 | €102,903 | +€18,326 | +21.7% |
| Stocks and contracts in progress | 3 | €9,600 | €15,330 | +€5,730 | +59.7% |
| Stocks | 30/36 | €9,600 | €15,330 | +€5,730 | +59.7% |
| Amounts receivable within one year | 40/41 | €43,760 | €52,128 | +€8,367 | +19.1% |
| Trade receivables | 40 | €39,205 | €51,999 | +€12,793 | +32.6% |
| Other amounts receivable | 41 | €4,555 | €129 | -€4,426 | -97.2% |
| Cash at bank and in hand | 54/58 | €24,797 | €28,000 | +€3,203 | +12.9% |
| Deferred charges and accrued income | 490/1 | €6,420 | €7,446 | +€1,026 | +16.0% |
| Total equity and liabilities | 10/49 | €113,375 | €135,366 | +€21,990 | +19.4% |
| Equity | 10/15 | €62,543 | €92,739 | +€30,195 | +48.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,543 | €62,739 | +€30,195 | +92.8% |
| Amounts payable | 17/49 | €50,832 | €42,627 | -€8,205 | -16.1% |
| Amounts payable after more than one year | 17 | €1,044 | €4,271 | +€3,227 | +309% |
| Financial debts | 170/4 | €1,044 | €4,271 | +€3,227 | +309% |
| Amounts payable within one year | 42/48 | €49,788 | €38,356 | -€11,432 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €14,058 | €4,549 | -€9,509 | -67.6% |
| Trade debts | 44 | €22,571 | €481 | -€22,090 | -97.9% |
| Suppliers | 440/4 | €22,571 | €481 | -€22,090 | -97.9% |
| Taxes, remuneration and social security | 45 | €12,394 | €32,403 | +€20,009 | +161% |
| Taxes | 450/3 | €9,806 | €19,205 | +€9,399 | +95.8% |
| Remuneration and social security | 454/9 | €2,588 | €13,198 | +€10,610 | +410% |
| Other amounts payable | 47/48 | €766 | €923 | +€157 | +20.5% |
| Non-recurring operating income | 76A | - | €757 | +€757 | |
| Remuneration, social security and pensions | 62 | - | €55,935 | +€55,935 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,637 | €19,423 | -€1,214 | -5.9% |
| Other operating charges | 640/8 | €7,750 | €1,469 | -€6,281 | -81.0% |
| Gross operating margin | 9900 | €69,392 | €112,244 | +€42,851 | +61.8% |
| Operating profit (loss) | 9901 | €41,005 | €35,417 | -€5,589 | -13.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +2,425% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +2,425% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,344 | €1,001 | -€343 | -25.5% |
| Recurring financial charges | 65 | €1,344 | €1,001 | -€343 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €39,662 | €34,418 | -€5,244 | -13.2% |
| Income taxes | 67/77 | €14,223 | €4,223 | -€10,000 | -70.3% |
| Profit (loss) for the period | 9904 | €25,439 | €30,195 | +€4,757 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,439 | €30,195 | +€4,757 | +18.7% |
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 27 October 2026 via checked.be.