MAJUPAU: 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.
MAJUPAU
Largest movements
- Receivables after one year -€7,565
down €7,565 (-5.6%), from €134,407 to €126,843
- Tangible fixed assets -€3,470
down €3,470 (-60.1%), from €5,776 to €2,306
- Profit (loss) carried forward -€15,461
down €15,461 (-148%), from -€10,479 to -€25,941
- Other debts +€10,000
new in 2025: €10,000
- Tax, wage and social debts -€5,495
down €5,495 (-14.5%), from €38,011 to €32,516
- Gross operating margin +€13,897
up €13,897 (+50.2%), from -€27,695 to -€13,799
- Other operating charges +€2,224
new in 2025: €2,224
- Financial income -€1,350
down €1,350 (-25.0%), from €5,409 to €4,059
- Financial charges +€1,143
up €1,143 (+224%), from €509 to €1,652
- Depreciation -€970
down €970 (-39.4%), from €2,460 to €1,489
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 | €159,655 | €147,117 | -€12,538 | -7.9% |
| Fixed assets | 21/28 | €5,776 | €2,306 | -€3,470 | -60.1% |
| Tangible fixed assets | 22/27 | €5,776 | €2,306 | -€3,470 | -60.1% |
| Furniture and vehicles | 24 | €5,776 | €2,306 | -€3,470 | -60.1% |
| Current assets | 29/58 | €153,879 | €144,811 | -€9,068 | -5.9% |
| Amounts receivable after more than one year | 29 | €134,407 | €126,843 | -€7,565 | -5.6% |
| Other amounts receivable | 291 | €134,407 | €126,843 | -€7,565 | -5.6% |
| Amounts receivable within one year | 40/41 | €19,468 | €17,966 | -€1,503 | -7.7% |
| Trade receivables | 40 | €14,558 | €17,200 | +€2,642 | +18.1% |
| Other amounts receivable | 41 | €4,910 | €766 | -€4,144 | -84.4% |
| Cash at bank and in hand | 54/58 | €3 | €2 | -€1 | -33.1% |
| Total equity and liabilities | 10/49 | €159,655 | €147,117 | -€12,538 | -7.9% |
| Equity | 10/15 | €96,199 | €80,738 | -€15,461 | -16.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €106,579 | €106,579 | = | 0.0% |
| Distributable reserves | 133 | €106,579 | €106,579 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,479 | -€25,941 | -€15,461 | -148% |
| Amounts payable | 17/49 | €63,455 | €66,379 | +€2,923 | +4.6% |
| Amounts payable within one year | 42/48 | €63,455 | €66,379 | +€2,923 | +4.6% |
| Trade debts | 44 | €25,444 | €23,862 | -€1,582 | -6.2% |
| Suppliers | 440/4 | €25,444 | €23,862 | -€1,582 | -6.2% |
| Taxes, remuneration and social security | 45 | €38,011 | €32,516 | -€5,495 | -14.5% |
| Taxes | 450/3 | €38,011 | €32,516 | -€5,495 | -14.5% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,460 | €1,489 | -€970 | -39.4% |
| Other operating charges | 640/8 | - | €2,224 | +€2,224 | |
| Gross operating margin | 9900 | -€27,695 | -€13,799 | +€13,897 | +50.2% |
| Operating profit (loss) | 9901 | -€30,155 | -€17,512 | +€12,643 | +41.9% |
| Financial income | 75/76B | €5,409 | €4,059 | -€1,350 | -25.0% |
| Recurring financial income | 75 | €5,409 | €4,059 | -€1,350 | -25.0% |
| Financial charges | 65/66B | €509 | €1,652 | +€1,143 | +224% |
| Recurring financial charges | 65 | €509 | €1,652 | +€1,143 | +224% |
| Profit (loss) for the period before taxes | 9903 | -€25,255 | -€15,105 | +€10,150 | +40.2% |
| Income taxes | 67/77 | €760 | €356 | -€404 | -53.1% |
| Profit (loss) for the period | 9904 | -€26,015 | -€15,461 | +€10,554 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,015 | -€15,461 | +€10,554 | +40.6% |
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 15 October 2026 via checked.be.