Majoan: 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.
Majoan
Largest movements
- Cash +€6,970
up €6,970 (+12.4%), from €56,046 to €63,016
mainly Depreciation (+€6,474) and Net result for the year (+€6,293)
- Tangible fixed assets -€6,474
down €6,474 (-12.5%), from €51,796 to €45,321
- Debts after one year -€7,365
down €7,365 (-11.8%), from €62,475 to €55,110
- Reserves +€6,293
up €6,293 (+30.9%), from €20,387 to €26,679
- Tax, wage and social debts +€2,546
up €2,546, from €0 to €2,546
- Gross operating margin +€3,290
up €3,290 (+21.0%), from €15,671 to €18,961
- Other operating charges -€2,966
down €2,966 (-74.2%), from €3,999 to €1,033
- Taxes +€1,261
up €1,261 (+45.3%), from €2,785 to €4,046
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 | €109,413 | €110,790 | +€1,378 | +1.3% |
| Fixed assets | 21/28 | €51,946 | €45,471 | -€6,474 | -12.5% |
| Tangible fixed assets | 22/27 | €51,796 | €45,321 | -€6,474 | -12.5% |
| Land and buildings | 22 | €51,796 | €45,321 | -€6,474 | -12.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €57,467 | €65,319 | +€7,852 | +13.7% |
| Amounts receivable within one year | 40/41 | €1,421 | €2,303 | +€882 | +62.1% |
| Trade receivables | 40 | €11 | €0 | -€11 | -100% |
| Other amounts receivable | 41 | €1,410 | €2,303 | +€894 | +63.4% |
| Cash at bank and in hand | 54/58 | €56,046 | €63,016 | +€6,970 | +12.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €109,413 | €110,790 | +€1,378 | +1.3% |
| Equity | 10/15 | €38,987 | €45,279 | +€6,293 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,387 | €26,679 | +€6,293 | +30.9% |
| Distributable reserves | 133 | €20,387 | €26,679 | +€6,293 | +30.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,426 | €65,511 | -€4,915 | -7.0% |
| Amounts payable after more than one year | 17 | €62,475 | €55,110 | -€7,365 | -11.8% |
| Financial debts | 170/4 | €62,475 | €55,110 | -€7,365 | -11.8% |
| Amounts payable within one year | 42/48 | €7,951 | €10,401 | +€2,450 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €7,198 | €7,365 | +€167 | +2.3% |
| Trade debts | 44 | €338 | €490 | +€152 | +45.1% |
| Suppliers | 440/4 | €338 | €490 | +€152 | +45.1% |
| Taxes, remuneration and social security | 45 | €0 | €2,546 | +€2,546 | |
| Taxes | 450/3 | €0 | €2,546 | +€2,546 | |
| Other amounts payable | 47/48 | €415 | €0 | -€415 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,474 | €6,474 | = | 0.0% |
| Other operating charges | 640/8 | €3,999 | €1,033 | -€2,966 | -74.2% |
| Gross operating margin | 9900 | €15,671 | €18,961 | +€3,290 | +21.0% |
| Operating profit (loss) | 9901 | €5,197 | €11,453 | +€6,256 | +120% |
| Financial income | 75/76B | €351 | €501 | +€150 | +42.8% |
| Recurring financial income | 75 | €351 | €501 | +€150 | +42.8% |
| Financial charges | 65/66B | €1,786 | €1,616 | -€170 | -9.5% |
| Recurring financial charges | 65 | €1,786 | €1,616 | -€170 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €3,762 | €10,338 | +€6,576 | +175% |
| Income taxes | 67/77 | €2,785 | €4,046 | +€1,261 | +45.3% |
| Profit (loss) for the period | 9904 | €977 | €6,293 | +€5,315 | +544% |
| Profit (loss) for the period to be appropriated | 9905 | €977 | €6,293 | +€5,315 | +544% |
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 24 October 2026 via checked.be.