MAJNU BEERNAERT: 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.
MAJNU BEERNAERT
Largest movements
- Receivables within one year -€28,985
down €28,985 (-9.2%), from €314,804 to €285,819
of which Other amounts receivable: -€16,210
- Tangible fixed assets -€22,807
down €22,807 (-12.5%), from €182,984 to €160,177
of which Furniture and vehicles: -€14,713
- Short-term financial debts -€18,953
no longer reported in 2025 (was €18,953)
- Debts after one year -€18,884
down €18,884 (-77.0%), from €24,509 to €5,625
- Current portion of long-term debt -€14,705
down €14,705 (-43.8%), from €33,589 to €18,884
- Trade debts -€6,188
down €6,188 (-19.3%), from €32,118 to €25,930
- Financial income +€9,570
new in 2025: €9,570
of which Financial income: +€9,570
- Gross operating margin +€4,982
up €4,982 (+37.3%), from €13,340 to €18,322
- Depreciation +€1,929
up €1,929 (+9.2%), from €20,877 to €22,807
- Other operating charges +€997
up €997 (+81.7%), from €1,220 to €2,218
- Financial charges -€405
down €405 (-15.6%), from €2,590 to €2,185
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 | €516,384 | €460,812 | -€55,572 | -10.8% |
| Fixed assets | 21/28 | €183,584 | €160,777 | -€22,807 | -12.4% |
| Tangible fixed assets | 22/27 | €182,984 | €160,177 | -€22,807 | -12.5% |
| Land and buildings | 22 | €127,299 | €122,563 | -€4,736 | -3.7% |
| Plant, machinery and equipment | 23 | €17,525 | €14,168 | -€3,358 | -19.2% |
| Furniture and vehicles | 24 | €38,160 | €23,446 | -€14,713 | -38.6% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €332,800 | €300,035 | -€32,766 | -9.8% |
| Stocks and contracts in progress | 3 | €16,498 | €12,453 | -€4,046 | -24.5% |
| Stocks | 30/36 | €16,498 | €12,453 | -€4,046 | -24.5% |
| Amounts receivable within one year | 40/41 | €314,804 | €285,819 | -€28,985 | -9.2% |
| Trade receivables | 40 | €293,952 | €281,176 | -€12,776 | -4.3% |
| Other amounts receivable | 41 | €20,852 | €4,643 | -€16,210 | -77.7% |
| Cash at bank and in hand | 54/58 | - | €1,736 | +€1,736 | |
| Deferred charges and accrued income | 490/1 | €1,498 | €27 | -€1,471 | -98.2% |
| Total equity and liabilities | 10/49 | €516,384 | €460,812 | -€55,572 | -10.8% |
| Equity | 10/15 | €324,458 | €325,141 | +€682 | +0.2% |
| Contributions | 10/11 | €62,031 | €62,031 | = | 0.0% |
| Reserves | 13 | €64,400 | €64,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,400 | €4,400 | = | 0.0% |
| Other | 1319 | €4,400 | €4,400 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,027 | €198,710 | +€682 | +0.3% |
| Amounts payable | 17/49 | €191,926 | €135,671 | -€56,255 | -29.3% |
| Amounts payable after more than one year | 17 | €24,509 | €5,625 | -€18,884 | -77.0% |
| Financial debts | 170/4 | €24,509 | €5,625 | -€18,884 | -77.0% |
| Amounts payable within one year | 42/48 | €167,417 | €130,046 | -€37,371 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €33,589 | €18,884 | -€14,705 | -43.8% |
| Financial debts | 43 | €18,953 | - | -€18,953 | |
| Credit institutions | 430/8 | €18,953 | - | -€18,953 | |
| Trade debts | 44 | €32,118 | €25,930 | -€6,188 | -19.3% |
| Suppliers | 440/4 | €32,118 | €25,930 | -€6,188 | -19.3% |
| Other amounts payable | 47/48 | €82,757 | €85,232 | +€2,475 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,877 | €22,807 | +€1,929 | +9.2% |
| Other operating charges | 640/8 | €1,220 | €2,218 | +€997 | +81.7% |
| Gross operating margin | 9900 | €13,340 | €18,322 | +€4,982 | +37.3% |
| Operating profit (loss) | 9901 | -€8,758 | -€6,702 | +€2,055 | +23.5% |
| Financial income | 75/76B | - | €9,570 | +€9,570 | |
| Recurring financial income | 75 | - | €9,570 | +€9,570 | |
| Non-recurring financial income | 76B | - | €9,570 | +€9,570 | |
| Financial charges | 65/66B | €2,590 | €2,185 | -€405 | -15.6% |
| Recurring financial charges | 65 | €2,590 | €2,185 | -€405 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,348 | €682 | +€12,030 | |
| Profit (loss) for the period | 9904 | -€11,348 | €682 | +€12,030 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,348 | €682 | +€12,030 |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.