Majophta: 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.
Majophta
Largest movements
- Deferred charges and accrued income +€19,125
new in 2025: €19,125
- Cash +€12,378
up €12,378 (+22.5%), from €55,008 to €67,386
mainly Depreciation (+€62,564) and Net result for the year (+€57,300)
- Tax, wage and social debts +€27,497
up €27,497 (+73.3%), from €37,514 to €65,011
of which Taxes: +€16,498
- Trade debts +€26,783
up €26,783 (+454%), from €5,895 to €32,678
- Other debts -€24,788
down €24,788 (-23.3%), from €106,364 to €81,576
- Current portion of long-term debt +€19,040
up €19,040 (+48.5%), from €39,254 to €58,294
- Debts after one year -€16,751
down €16,751 (-4.7%), from €356,154 to €339,402
- Staff costs +€36,637
up €36,637 (+36.8%), from €99,551 to €136,188
- Gross operating margin +€33,083
up €33,083 (+12.8%), from €258,141 to €291,223
- Depreciation +€16,692
up €16,692 (+36.4%), from €45,872 to €62,564
- Financial charges -€5,835
down €5,835 (-44.2%), from €13,202 to €7,368
- Taxes -€2,926
down €2,926 (-10.5%), from €27,809 to €24,883
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 | €548,181 | €579,962 | +€31,781 | +5.8% |
| Fixed assets | 21/28 | €493,173 | €493,452 | +€278 | +0.1% |
| Tangible fixed assets | 22/27 | €493,173 | €493,452 | +€278 | +0.1% |
| Land and buildings | 22 | €410,599 | €391,486 | -€19,113 | -4.7% |
| Plant, machinery and equipment | 23 | €17,169 | €13,435 | -€3,734 | -21.7% |
| Furniture and vehicles | 24 | €2,534 | €31,089 | +€28,555 | +1,127% |
| Leasing and similar rights | 25 | €62,872 | €57,442 | -€5,430 | -8.6% |
| Current assets | 29/58 | €55,008 | €86,510 | +€31,503 | +57.3% |
| Cash at bank and in hand | 54/58 | €55,008 | €67,386 | +€12,378 | +22.5% |
| Deferred charges and accrued income | 490/1 | - | €19,125 | +€19,125 | |
| Total equity and liabilities | 10/49 | €548,181 | €579,962 | +€31,781 | +5.8% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €545,181 | €576,962 | +€31,781 | +5.8% |
| Amounts payable after more than one year | 17 | €356,154 | €339,402 | -€16,751 | -4.7% |
| Financial debts | 170/4 | €356,154 | €339,402 | -€16,751 | -4.7% |
| Amounts payable within one year | 42/48 | €189,027 | €237,560 | +€48,532 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €39,254 | €58,294 | +€19,040 | +48.5% |
| Trade debts | 44 | €5,895 | €32,678 | +€26,783 | +454% |
| Suppliers | 440/4 | €5,895 | €32,678 | +€26,783 | +454% |
| Taxes, remuneration and social security | 45 | €37,514 | €65,011 | +€27,497 | +73.3% |
| Taxes | 450/3 | €32,170 | €48,668 | +€16,498 | +51.3% |
| Remuneration and social security | 454/9 | €5,343 | €16,343 | +€10,999 | +206% |
| Other amounts payable | 47/48 | €106,364 | €81,576 | -€24,788 | -23.3% |
| Remuneration, social security and pensions | 62 | €99,551 | €136,188 | +€36,637 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,872 | €62,564 | +€16,692 | +36.4% |
| Other operating charges | 640/8 | €2,346 | €2,920 | +€574 | +24.5% |
| Gross operating margin | 9900 | €258,141 | €291,223 | +€33,083 | +12.8% |
| Operating profit (loss) | 9901 | €110,371 | €89,551 | -€20,820 | -18.9% |
| Financial charges | 65/66B | €13,202 | €7,368 | -€5,835 | -44.2% |
| Recurring financial charges | 65 | €13,202 | €7,368 | -€5,835 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €97,169 | €82,183 | -€14,986 | -15.4% |
| Income taxes | 67/77 | €27,809 | €24,883 | -€2,926 | -10.5% |
| Profit (loss) for the period | 9904 | €69,360 | €57,300 | -€12,060 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,360 | €57,300 | -€12,060 | -17.4% |
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 14 October 2026 via checked.be.