MAJU: 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.
MAJU
Largest movements
- Tangible fixed assets -€168,077
down €168,077 (-4.2%), from €4.0m to €3.9m
of which Land and buildings: -€165,510
- Debts after one year -€256,748
down €256,748 (-24.8%), from €1.0m to €778,704
- Reserves +€105,060
up €105,060 (+164.6%), from €63,827 to €168,887
of which Distributable reserves: +€105,060
- Financial income +€83,010
up €83,010 (+4150.5%), from €2,000 to €85,010
of which Financial income: +€83,010
- Staff costs -€69,158
down €69,158 (-87.9%), from €78,680 to €9,522
- Gross operating margin +€12,880
up €12,880 (+3.7%), from €349,032 to €361,912
- Taxes +€9,809
up €9,809 (+161.3%), from €6,082 to €15,891
- Financial charges +€9,446
up €9,446 (+32.7%), from €28,929 to €38,375
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,473,414 | €8,327,524 | -€145,890 | -1.7% |
| Fixed assets | 21/28 | €8,098,363 | €7,930,286 | -€168,077 | -2.1% |
| Tangible fixed assets | 22/27 | €4,040,049 | €3,871,972 | -€168,077 | -4.2% |
| Land and buildings | 22 | €4,037,482 | €3,871,972 | -€165,510 | -4.1% |
| Plant, machinery and equipment | 23 | €2,567 | - | -€2,567 | |
| Financial fixed assets | 28 | €4,058,314 | €4,058,314 | = | 0.0% |
| Current assets | 29/58 | €375,050 | €397,238 | +€22,187 | +5.9% |
| Amounts receivable within one year | 40/41 | €60,000 | €66,693 | +€6,693 | +11.2% |
| Trade receivables | 40 | - | €6,693 | +€6,693 | |
| Other amounts receivable | 41 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,800 | €24,294 | +€15,494 | +176.1% |
| Deferred charges and accrued income | 490/1 | €306,250 | €306,250 | = | 0.0% |
| Total equity and liabilities | 10/49 | €8,473,414 | €8,327,524 | -€145,890 | -1.7% |
| Equity | 10/15 | €5,842,391 | €6,020,673 | +€178,282 | +3.1% |
| Contributions | 10/11 | €5,851,786 | €5,851,786 | = | 0.0% |
| Reserves | 13 | €63,827 | €168,887 | +€105,060 | +164.6% |
| Non-distributable reserves | 130/1 | €63,827 | €63,827 | = | 0.0% |
| Reserves not available under the articles | 1311 | €63,827 | €63,827 | = | 0.0% |
| Distributable reserves | 133 | - | €105,060 | +€105,060 | |
| Profit (loss) carried forward | 14 | -€73,222 | - | +€73,222 | |
| Amounts payable | 17/49 | €2,631,023 | €2,306,851 | -€324,172 | -12.3% |
| Amounts payable after more than one year | 17 | €1,035,452 | €778,704 | -€256,748 | -24.8% |
| Financial debts | 170/4 | €1,035,452 | €778,704 | -€256,748 | -24.8% |
| Amounts payable within one year | 42/48 | €1,548,889 | €1,478,081 | -€70,808 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €305,755 | €255,093 | -€50,662 | -16.6% |
| Trade debts | 44 | €617,673 | €587,564 | -€30,109 | -4.9% |
| Suppliers | 440/4 | €617,673 | €587,564 | -€30,109 | -4.9% |
| Taxes, remuneration and social security | 45 | €20,824 | €41,791 | +€20,967 | +100.7% |
| Taxes | 450/3 | €96 | - | -€96 | |
| Remuneration and social security | 454/9 | €20,728 | €41,791 | +€21,063 | +101.6% |
| Other amounts payable | 47/48 | €604,637 | €593,633 | -€11,004 | -1.8% |
| Accrued charges and deferred income | 492/3 | €46,682 | €50,066 | +€3,383 | +7.2% |
| Remuneration, social security and pensions | 62 | €78,680 | €9,522 | -€69,158 | -87.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,381 | €170,427 | -€954 | -0.6% |
| Other operating charges | 640/8 | €39,392 | €34,425 | -€4,967 | -12.6% |
| Gross operating margin | 9900 | €349,032 | €361,912 | +€12,880 | +3.7% |
| Operating profit (loss) | 9901 | €59,579 | €147,538 | +€87,960 | +147.6% |
| Financial income | 75/76B | €2,000 | €85,010 | +€83,010 | +4150.5% |
| Recurring financial income | 75 | €2,000 | €85,010 | +€83,010 | +4150.5% |
| Non-recurring financial income | 76B | €2,000 | €85,010 | +€83,010 | +4150.5% |
| Financial charges | 65/66B | €28,929 | €38,375 | +€9,446 | +32.7% |
| Recurring financial charges | 65 | €28,929 | €38,375 | +€9,446 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €32,649 | €194,173 | +€161,524 | +494.7% |
| Income taxes | 67/77 | €6,082 | €15,891 | +€9,809 | +161.3% |
| Profit (loss) for the period | 9904 | €26,568 | €178,282 | +€151,714 | +571.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,568 | €178,282 | +€151,714 | +571.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.