MJ: 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.
MJ
Largest movements
- Receivables after one year -€38,124
down €38,124 (-45.6%), from €83,533 to €45,408
- Receivables within one year +€7,344
up €7,344 (+156.9%), from €4,680 to €12,024
- Tangible fixed assets -€1,596
down €1,596 (-33.0%), from €4,830 to €3,234
of which Plant, machinery and equipment: -€838
- Cash -€1,145
down €1,145 (-6.9%), from €16,478 to €15,333
mainly Contributions, distributions and other (-€124,644) and Receivables within one year (-€7,344)
- Reserves -€81,911
down €81,911 (-83.9%), from €97,611 to €15,700
- Other debts +€43,837
new in 2025: €43,837
- Tax, wage and social debts +€4,165
up €4,165 (+39.0%), from €10,683 to €14,848
- Gross operating margin -€724
down €724 (-1.3%), from €56,899 to €56,175
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 | €111,122 | €77,183 | -€33,940 | -30.5% |
| Fixed assets | 21/28 | €4,830 | €3,234 | -€1,596 | -33.0% |
| Tangible fixed assets | 22/27 | €4,830 | €3,234 | -€1,596 | -33.0% |
| Plant, machinery and equipment | 23 | €2,884 | €2,046 | -€838 | -29.0% |
| Furniture and vehicles | 24 | €1,947 | €1,188 | -€758 | -39.0% |
| Current assets | 29/58 | €106,292 | €73,948 | -€32,344 | -30.4% |
| Amounts receivable after more than one year | 29 | €83,533 | €45,408 | -€38,124 | -45.6% |
| Other amounts receivable | 291 | €83,533 | €45,408 | -€38,124 | -45.6% |
| Amounts receivable within one year | 40/41 | €4,680 | €12,024 | +€7,344 | +156.9% |
| Trade receivables | 40 | €4,680 | €12,024 | +€7,344 | +156.9% |
| Cash at bank and in hand | 54/58 | €16,478 | €15,333 | -€1,145 | -6.9% |
| Deferred charges and accrued income | 490/1 | €1,601 | €1,183 | -€418 | -26.1% |
| Total equity and liabilities | 10/49 | €111,122 | €77,183 | -€33,940 | -30.5% |
| Equity | 10/15 | €99,611 | €17,700 | -€81,911 | -82.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €97,611 | €15,700 | -€81,911 | -83.9% |
| Distributable reserves | 133 | €97,611 | €15,700 | -€81,911 | -83.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,511 | €59,483 | +€47,972 | +416.7% |
| Amounts payable within one year | 42/48 | €11,511 | €59,483 | +€47,972 | +416.7% |
| Trade debts | 44 | €828 | €797 | -€31 | -3.8% |
| Suppliers | 440/4 | €828 | €797 | -€31 | -3.8% |
| Taxes, remuneration and social security | 45 | €10,683 | €14,848 | +€4,165 | +39.0% |
| Taxes | 450/3 | €10,683 | €14,848 | +€4,165 | +39.0% |
| Other amounts payable | 47/48 | - | €43,837 | +€43,837 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,491 | €1,596 | +€105 | +7.1% |
| Other operating charges | 640/8 | €663 | €725 | +€63 | +9.5% |
| Gross operating margin | 9900 | €56,899 | €56,175 | -€724 | -1.3% |
| Operating profit (loss) | 9901 | €54,746 | €53,854 | -€892 | -1.6% |
| Financial income | 75/76B | €2,571 | €2,223 | -€348 | -13.5% |
| Recurring financial income | 75 | €2,571 | €2,223 | -€348 | -13.5% |
| Financial charges | 65/66B | €1,352 | €1,033 | -€319 | -23.6% |
| Recurring financial charges | 65 | €1,352 | €1,033 | -€319 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €55,964 | €55,044 | -€921 | -1.6% |
| Income taxes | 67/77 | €11,928 | €12,311 | +€383 | +3.2% |
| Profit (loss) for the period | 9904 | €44,036 | €42,733 | -€1,303 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,036 | €42,733 | -€1,303 | -3.0% |
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 12 October 2026 via checked.be.