MAJOA: what changed
Two fiscal 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.
MAJOA
Largest movements
- Tangible fixed assets -€19,780
down €19,780 (-3.3%), from €606,837 to €587,057
- Profit (loss) carried forward -€24,013
down €24,013 (-17.7%), from -€135,905 to -€159,918
- Gross operating margin -€5,372
down €5,372, from €5,115 to -€257
- Other operating charges +€3,425
up €3,425 (+677.7%), from €505 to €3,930
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.
Cash bridge derived
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 | €610,460 | €587,800 | -€22,660 | -3.7% |
| Fixed assets | 21/28 | €606,837 | €587,057 | -€19,780 | -3.3% |
| Tangible fixed assets | 22/27 | €606,837 | €587,057 | -€19,780 | -3.3% |
| Land and buildings | 22 | €606,837 | €587,057 | -€19,780 | -3.3% |
| Current assets | 29/58 | €3,622 | €743 | -€2,880 | -79.5% |
| Cash at bank and in hand | 54/58 | €3,622 | €743 | -€2,880 | -79.5% |
| Total equity and liabilities | 10/49 | €610,460 | €587,800 | -€22,660 | -3.7% |
| Equity | 10/15 | -€117,305 | -€141,318 | -€24,013 | -20.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,905 | -€159,918 | -€24,013 | -17.7% |
| Amounts payable | 17/49 | €727,764 | €729,117 | +€1,353 | +0.2% |
| Amounts payable within one year | 42/48 | €727,764 | €729,117 | +€1,353 | +0.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €2,700 | +€2,700 | |
| Remuneration and social security | 454/9 | - | €2,700 | +€2,700 | |
| Other amounts payable | 47/48 | €727,764 | €726,417 | -€1,347 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,780 | €19,780 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €3,930 | +€3,425 | +677.7% |
| Gross operating margin | 9900 | €5,115 | -€257 | -€5,372 | |
| Operating profit (loss) | 9901 | -€15,170 | -€23,968 | -€8,797 | -58.0% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,215 | -€24,013 | -€8,797 | -57.8% |
| Profit (loss) for the period | 9904 | -€15,215 | -€24,013 | -€8,797 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,215 | -€24,013 | -€8,797 | -57.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.