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 +€151,075
up €151,075 (+63.6%), from €237,455 to €388,530
- Receivables within one year +€17,428
up €17,428 (+16598.1%), from €105 to €17,533
of which Trade receivables: +€17,428
- Cash -€13,644
down €13,644 (-82.1%), from €16,628 to €2,985
mainly Investment in fixed assets (net) (-€159,809) and Receivables within one year (-€17,428)
- Other debts +€154,084
up €154,084 (+163.4%), from €94,278 to €248,362
- Profit (loss) carried forward +€9,332
up €9,332 (+13.0%), from €71,851 to €81,182
- Debts after one year -€7,442
down €7,442 (-12.2%), from €61,018 to €53,575
- Gross operating margin +€14,979
up €14,979 (+77.6%), from €19,312 to €34,290
- Financial charges +€6,271
up €6,271 (+78.3%), from €8,007 to €14,277
- Depreciation +€3,086
up €3,086 (+54.6%), from €5,648 to €8,734
- Taxes +€740
up €740 (+158.5%), from €467 to €1,207
- Other operating charges -€524
down €524 (-41.5%), from €1,265 to €740
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 | €254,189 | €409,048 | +€154,859 | +60.9% |
| Fixed assets | 21/28 | €237,455 | €388,530 | +€151,075 | +63.6% |
| Tangible fixed assets | 22/27 | €237,455 | €388,530 | +€151,075 | +63.6% |
| Land and buildings | 22 | €237,455 | €388,530 | +€151,075 | +63.6% |
| Current assets | 29/58 | €16,733 | €20,518 | +€3,784 | +22.6% |
| Amounts receivable within one year | 40/41 | €105 | €17,533 | +€17,428 | +16598.1% |
| Trade receivables | 40 | - | €17,428 | +€17,428 | |
| Other amounts receivable | 41 | €105 | €105 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,628 | €2,985 | -€13,644 | -82.1% |
| Total equity and liabilities | 10/49 | €254,189 | €409,048 | +€154,859 | +60.9% |
| Equity | 10/15 | €75,851 | €85,182 | +€9,332 | +12.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,851 | €81,182 | +€9,332 | +13.0% |
| Amounts payable | 17/49 | €178,338 | €323,866 | +€145,528 | +81.6% |
| Amounts payable after more than one year | 17 | €61,018 | €53,575 | -€7,442 | -12.2% |
| Financial debts | 170/4 | €61,018 | €53,575 | -€7,442 | -12.2% |
| Amounts payable within one year | 42/48 | €117,320 | €270,290 | +€152,970 | +130.4% |
| Current portion of amounts payable after more than one year | 42 | €7,068 | €7,333 | +€265 | +3.7% |
| Trade debts | 44 | - | €211 | +€211 | |
| Suppliers | 440/4 | - | €211 | +€211 | |
| Taxes, remuneration and social security | 45 | €15,974 | €14,384 | -€1,589 | -10.0% |
| Taxes | 450/3 | €15,974 | €14,384 | -€1,589 | -10.0% |
| Other amounts payable | 47/48 | €94,278 | €248,362 | +€154,084 | +163.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,648 | €8,734 | +€3,086 | +54.6% |
| Other operating charges | 640/8 | €1,265 | €740 | -€524 | -41.5% |
| Gross operating margin | 9900 | €19,312 | €34,290 | +€14,979 | +77.6% |
| Operating profit (loss) | 9901 | €12,399 | €24,816 | +€12,417 | +100.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,007 | €14,277 | +€6,271 | +78.3% |
| Recurring financial charges | 65 | €8,007 | €14,277 | +€6,271 | +78.3% |
| Profit (loss) for the period before taxes | 9903 | €4,392 | €10,539 | +€6,146 | +139.9% |
| Income taxes | 67/77 | €467 | €1,207 | +€740 | +158.5% |
| Profit (loss) for the period | 9904 | €3,925 | €9,332 | +€5,406 | +137.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,925 | €9,332 | +€5,406 | +137.7% |
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 7 October 2026 via checked.be.