MaJu consulting: 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.
MaJu consulting
Largest movements
- Current investments +€1.2m
up €1.2m, from €0 to €1.2m
- Cash -€1.1m
down €1.1m (-84.0%), from €1.4m to €217,972
mainly Contributions, distributions and other (-€2.1m) and Current investments (-€1.2m)
- Receivables after one year -€508,500
down €508,500 (-100%), from €508,500 to €0
- Receivables within one year +€91,189
up €91,189 (+178%), from €51,319 to €142,508
of which Other amounts receivable: +€90,618
- Reserves -€1.5m
down €1.5m (-95.1%), from €1.6m to €79,460
- Other debts +€1.1m
up €1.1m (+1,819%), from €62,532 to €1.2m
- Debts after one year +€150,000
new in 2025: €150,000
- Tax, wage and social debts -€115,447
down €115,447 (-30.4%), from €379,174 to €263,727
- Gross operating margin -€132,013
down €132,013 (-15.2%), from €868,273 to €736,260
- Taxes -€30,532
down €30,532 (-13.7%), from €222,649 to €192,117
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 | €2,076,459 | €1,719,680 | -€356,779 | -17.2% |
| Fixed assets | 21/28 | €98,884 | €110,130 | +€11,246 | +11.4% |
| Tangible fixed assets | 22/27 | €98,884 | €110,130 | +€11,246 | +11.4% |
| Plant, machinery and equipment | 23 | €18,160 | €15,383 | -€2,778 | -15.3% |
| Furniture and vehicles | 24 | €4,532 | €7,702 | +€3,170 | +70.0% |
| Other tangible fixed assets | 26 | €76,192 | €87,046 | +€10,854 | +14.2% |
| Current assets | 29/58 | €1,977,575 | €1,609,550 | -€368,025 | -18.6% |
| Amounts receivable after more than one year | 29 | €508,500 | €0 | -€508,500 | -100% |
| Other amounts receivable | 291 | €508,500 | €0 | -€508,500 | -100% |
| Amounts receivable within one year | 40/41 | €51,319 | €142,508 | +€91,189 | +178% |
| Trade receivables | 40 | €51,319 | €51,890 | +€572 | +1.1% |
| Other amounts receivable | 41 | - | €90,618 | +€90,618 | |
| Current investments | 50/53 | €0 | €1,199,998 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €1,358,762 | €217,972 | -€1.1m | -84.0% |
| Deferred charges and accrued income | 490/1 | €58,995 | €49,072 | -€9,923 | -16.8% |
| Total equity and liabilities | 10/49 | €2,076,459 | €1,719,680 | -€356,779 | -17.2% |
| Equity | 10/15 | €1,617,662 | €80,460 | -€1.5m | -95.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,616,662 | €79,460 | -€1.5m | -95.1% |
| Distributable reserves | 133 | €1,616,662 | €79,460 | -€1.5m | -95.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €458,797 | €1,639,220 | +€1.2m | +257% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Financial debts | 170/4 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €458,797 | €1,488,917 | +€1.0m | +225% |
| Trade debts | 44 | €17,091 | €25,387 | +€8,296 | +48.5% |
| Suppliers | 440/4 | €17,091 | €25,387 | +€8,296 | +48.5% |
| Taxes, remuneration and social security | 45 | €379,174 | €263,727 | -€115,447 | -30.4% |
| Taxes | 450/3 | €379,174 | €263,727 | -€115,447 | -30.4% |
| Other amounts payable | 47/48 | €62,532 | €1,199,803 | +€1.1m | +1,819% |
| Accrued charges and deferred income | 492/3 | - | €303 | +€303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,813 | €16,844 | +€3,031 | +21.9% |
| Other operating charges | 640/8 | €291 | €1,553 | +€1,263 | +435% |
| Gross operating margin | 9900 | €868,273 | €736,260 | -€132,013 | -15.2% |
| Operating profit (loss) | 9901 | €854,170 | €717,862 | -€136,307 | -16.0% |
| Financial income | 75/76B | €41,848 | €37,507 | -€4,341 | -10.4% |
| Recurring financial income | 75 | €41,848 | €37,507 | -€4,341 | -10.4% |
| Financial charges | 65/66B | €418 | €454 | +€35 | +8.5% |
| Recurring financial charges | 65 | €418 | €454 | +€35 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €895,599 | €754,915 | -€140,684 | -15.7% |
| Income taxes | 67/77 | €222,649 | €192,117 | -€30,532 | -13.7% |
| Profit (loss) for the period | 9904 | €672,950 | €562,799 | -€110,152 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €672,950 | €562,799 | -€110,152 | -16.4% |
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 26 October 2026 via checked.be.