Majory: 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.
Majory
Largest movements
- Receivables within one year +€54,506
up €54,506 (+73.1%), from €74,565 to €129,071
of which Trade receivables: +€59,101
- Tangible fixed assets +€44,757
up €44,757 (+1591.3%), from €2,813 to €47,570
- Cash +€28,476
up €28,476 (+49.1%), from €58,055 to €86,531
mainly Net result for the year (+€122,036) and Other debts (+€117,021)
- Receivables after one year -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Other debts +€117,021
up €117,021 (+2466.2%), from €4,745 to €121,766
- Reserves -€11,214
down €11,214 (-8.4%), from €133,250 to €122,036
- Tax, wage and social debts -€3,735
down €3,735 (-18.6%), from €20,059 to €16,324
of which Taxes: -€2,235
- Gross operating margin +€95,060
up €95,060 (+136.3%), from €69,726 to €164,787
- Taxes +€22,583
up €22,583 (+157.3%), from €14,352 to €36,935
- Depreciation +€3,100
up €3,100 (+198.6%), from €1,561 to €4,661
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 | €162,300 | €263,772 | +€101,472 | +62.5% |
| Fixed assets | 21/28 | €2,813 | €47,570 | +€44,757 | +1591.3% |
| Tangible fixed assets | 22/27 | €2,813 | €47,570 | +€44,757 | +1591.3% |
| Furniture and vehicles | 24 | €2,813 | €47,570 | +€44,757 | +1591.3% |
| Current assets | 29/58 | €159,487 | €216,201 | +€56,715 | +35.6% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100.0% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €74,565 | €129,071 | +€54,506 | +73.1% |
| Trade receivables | 40 | €62,905 | €122,006 | +€59,101 | +94.0% |
| Other amounts receivable | 41 | €11,660 | €7,065 | -€4,595 | -39.4% |
| Cash at bank and in hand | 54/58 | €58,055 | €86,531 | +€28,476 | +49.1% |
| Deferred charges and accrued income | 490/1 | €1,867 | €599 | -€1,268 | -67.9% |
| Total equity and liabilities | 10/49 | €162,300 | €263,772 | +€101,472 | +62.5% |
| Equity | 10/15 | €136,250 | €125,036 | -€11,214 | -8.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €133,250 | €122,036 | -€11,214 | -8.4% |
| Distributable reserves | 133 | €133,250 | €122,036 | -€11,214 | -8.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €26,050 | €138,735 | +€112,686 | +432.6% |
| Amounts payable within one year | 42/48 | €26,050 | €138,090 | +€112,041 | +430.1% |
| Trade debts | 44 | €1,246 | €0 | -€1,246 | -100.0% |
| Suppliers | 440/4 | €1,246 | €0 | -€1,246 | -100.0% |
| Taxes, remuneration and social security | 45 | €20,059 | €16,324 | -€3,735 | -18.6% |
| Taxes | 450/3 | €18,559 | €16,324 | -€2,235 | -12.0% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €4,745 | €121,766 | +€117,021 | +2466.2% |
| Accrued charges and deferred income | 492/3 | - | €645 | +€645 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,561 | €4,661 | +€3,100 | +198.6% |
| Other operating charges | 640/8 | €1,107 | €955 | -€151 | -13.7% |
| Gross operating margin | 9900 | €69,726 | €164,787 | +€95,060 | +136.3% |
| Operating profit (loss) | 9901 | €67,059 | €159,170 | +€92,111 | +137.4% |
| Financial income | 75/76B | €85 | €0 | -€85 | -100.0% |
| Recurring financial income | 75 | €85 | €0 | -€85 | -100.0% |
| Financial charges | 65/66B | €380 | €199 | -€181 | -47.7% |
| Recurring financial charges | 65 | €380 | €199 | -€181 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €66,763 | €158,971 | +€92,208 | +138.1% |
| Income taxes | 67/77 | €14,352 | €36,935 | +€22,583 | +157.3% |
| Profit (loss) for the period | 9904 | €52,411 | €122,036 | +€69,625 | +132.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,411 | €122,036 | +€69,625 | +132.8% |
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 8 October 2026 via checked.be.