MAJUCA: 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.
MAJUCA
Largest movements
- Tangible fixed assets +€66,601
new in 2025: €66,601
- Cash -€25,552
down €25,552 (-35.4%), from €72,226 to €46,674
mainly Investment in fixed assets (net) (-€75,088) and Receivables within one year (-€22,490)
- Receivables within one year +€22,490
up €22,490 (+37.3%), from €60,356 to €82,845
of which Other amounts receivable: +€16,431
- Debts after one year +€52,232
new in 2025: €52,232
- Current portion of long-term debt +€13,948
new in 2025: €13,948
- Depreciation +€7,649
new in 2025: €7,649
- Gross operating margin +€6,300
up €6,300 (+7.7%), from €81,984 to €88,284
- Staff costs +€3,168
up €3,168 (+4.1%), from €76,541 to €79,709
- Taxes -€1,788
down €1,788 (-94.0%), from €1,901 to €113
- Financial charges +€1,247
up €1,247 (+2,309%), from €54 to €1,301
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 | €135,945 | €198,505 | +€62,560 | +46.0% |
| Fixed assets | 21/28 | €363 | €67,803 | +€67,440 | +18,578% |
| Tangible fixed assets | 22/27 | - | €66,601 | +€66,601 | |
| Furniture and vehicles | 24 | - | €66,601 | +€66,601 | |
| Financial fixed assets | 28 | €363 | €1,201 | +€838 | +231% |
| Current assets | 29/58 | €135,582 | €130,702 | -€4,880 | -3.6% |
| Amounts receivable within one year | 40/41 | €60,356 | €82,845 | +€22,490 | +37.3% |
| Trade receivables | 40 | €10,256 | €16,315 | +€6,059 | +59.1% |
| Other amounts receivable | 41 | €50,099 | €66,530 | +€16,431 | +32.8% |
| Cash at bank and in hand | 54/58 | €72,226 | €46,674 | -€25,552 | -35.4% |
| Deferred charges and accrued income | 490/1 | €3,000 | €1,183 | -€1,817 | -60.6% |
| Total equity and liabilities | 10/49 | €135,945 | €198,505 | +€62,560 | +46.0% |
| Equity | 10/15 | €109,878 | €109,241 | -€636 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,478 | €96,841 | -€636 | -0.7% |
| Distributable reserves | 133 | €97,478 | €96,841 | -€636 | -0.7% |
| Amounts payable | 17/49 | €26,067 | €89,264 | +€63,197 | +242% |
| Amounts payable after more than one year | 17 | - | €52,232 | +€52,232 | |
| Financial debts | 170/4 | - | €52,232 | +€52,232 | |
| Amounts payable within one year | 42/48 | €26,067 | €37,031 | +€10,965 | +42.1% |
| Current portion of amounts payable after more than one year | 42 | - | €13,948 | +€13,948 | |
| Trade debts | 44 | €8,122 | €8,124 | +€2 | 0.0% |
| Suppliers | 440/4 | €8,122 | €8,124 | +€2 | 0.0% |
| Taxes, remuneration and social security | 45 | €16,467 | €14,959 | -€1,508 | -9.2% |
| Taxes | 450/3 | €5,576 | €2 | -€5,574 | -100.0% |
| Remuneration and social security | 454/9 | €10,891 | €14,957 | +€4,066 | +37.3% |
| Other amounts payable | 47/48 | €1,478 | - | -€1,478 | |
| Remuneration, social security and pensions | 62 | €76,541 | €79,709 | +€3,168 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,649 | +€7,649 | |
| Other operating charges | 640/8 | - | €149 | +€149 | |
| Gross operating margin | 9900 | €81,984 | €88,284 | +€6,300 | +7.7% |
| Operating profit (loss) | 9901 | €5,444 | €778 | -€4,666 | -85.7% |
| Financial income | 75/76B | €420 | - | -€420 | |
| Recurring financial income | 75 | €420 | - | -€420 | |
| Financial charges | 65/66B | €54 | €1,301 | +€1,247 | +2,309% |
| Recurring financial charges | 65 | €54 | €1,301 | +€1,247 | +2,309% |
| Profit (loss) for the period before taxes | 9903 | €5,810 | -€523 | -€6,333 | |
| Income taxes | 67/77 | €1,901 | €113 | -€1,788 | -94.0% |
| Profit (loss) for the period | 9904 | €3,909 | -€636 | -€4,545 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,909 | -€636 | -€4,545 |
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 17 October 2026 via checked.be.