MAJO: 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.
MAJO
Largest movements
- Financial fixed assets -€299,520
down €299,520 (-100%), from €299,520 to €0
- Receivables within one year -€36,750
down €36,750 (-100%), from €36,750 to €0
- Profit (loss) carried forward -€338,894
new in 2025: -€338,894
- Write-downs +€336,270
new in 2025: €336,270
- Gross operating margin +€367
up €367 (+13.0%), from -€2,833 to -€2,466
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 | €339,256 | €2,361 | -€336,894 | -99.3% |
| Fixed assets | 21/28 | €299,520 | €0 | -€299,520 | -100% |
| Financial fixed assets | 28 | €299,520 | €0 | -€299,520 | -100% |
| Current assets | 29/58 | €39,736 | €2,361 | -€37,374 | -94.1% |
| Amounts receivable within one year | 40/41 | €36,750 | €0 | -€36,750 | -100% |
| Other amounts receivable | 41 | €36,750 | €0 | -€36,750 | -100% |
| Cash at bank and in hand | 54/58 | €2,986 | €2,361 | -€624 | -20.9% |
| Total equity and liabilities | 10/49 | €339,256 | €2,361 | -€336,894 | -99.3% |
| Equity | 10/15 | €26,404 | -€312,490 | -€338,894 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,204 | €20,204 | = | 0.0% |
| Distributable reserves | 133 | €20,204 | €20,204 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€338,894 | -€338,894 | |
| Amounts payable | 17/49 | €312,851 | €314,851 | +€2,000 | +0.6% |
| Amounts payable after more than one year | 17 | €312,851 | €314,851 | +€2,000 | +0.6% |
| Other amounts payable | 178/9 | €312,851 | €314,851 | +€2,000 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €336,270 | +€336,270 | |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | -€2,833 | -€2,466 | +€367 | +13.0% |
| Operating profit (loss) | 9901 | -€2,959 | -€338,864 | -€335,905 | -11,350% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,988 | -€338,894 | -€335,906 | -11,242% |
| Profit (loss) for the period | 9904 | -€2,988 | -€338,894 | -€335,906 | -11,242% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,988 | -€338,894 | -€335,906 | -11,242% |
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.