MJ Group: 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.
MJ Group
Largest movements
- Current investments +€297,795
new in 2025: €297,795
- Tangible fixed assets +€60,704
up €60,704 (+45.4%), from €133,768 to €194,472
of which Plant, machinery and equipment: +€65,837
- Cash -€58,523
down €58,523 (-13.3%), from €438,484 to €379,962
mainly Current investments (-€297,795) and Investment in fixed assets (net) (-€101,335)
- Receivables within one year +€15,123
up €15,123 (+589.7%), from €2,564 to €17,688
of which Other amounts receivable: +€15,123
- Reserves +€315,441
up €315,441 (+79.4%), from €397,186 to €712,626
- Trade debts +€49,888
up €49,888 (+243.0%), from €20,529 to €70,417
- Accrued charges and deferred income -€31,500
down €31,500 (-100.0%), from €31,500 to €0
- Gross operating margin +€131,397
up €131,397 (+10.0%), from €1.3m to €1.5m
- Taxes +€31,787
up €31,787 (+27.4%), from €115,823 to €147,611
- Financial income +€19,103
up €19,103 (+301.9%), from €6,328 to €25,431
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 | €582,845 | €906,365 | +€323,519 | +55.5% |
| Fixed assets | 21/28 | €136,918 | €197,622 | +€60,704 | +44.3% |
| Tangible fixed assets | 22/27 | €133,768 | €194,472 | +€60,704 | +45.4% |
| Plant, machinery and equipment | 23 | €98,629 | €164,466 | +€65,837 | +66.8% |
| Furniture and vehicles | 24 | €35,138 | €30,006 | -€5,133 | -14.6% |
| Financial fixed assets | 28 | €3,150 | €3,150 | = | 0.0% |
| Current assets | 29/58 | €445,927 | €708,743 | +€262,815 | +58.9% |
| Stocks and contracts in progress | 3 | €4,879 | €13,298 | +€8,419 | +172.6% |
| Stocks | 30/36 | €4,879 | €13,298 | +€8,419 | +172.6% |
| Amounts receivable within one year | 40/41 | €2,564 | €17,688 | +€15,123 | +589.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,564 | €17,688 | +€15,123 | +589.7% |
| Current investments | 50/53 | - | €297,795 | +€297,795 | |
| Cash at bank and in hand | 54/58 | €438,484 | €379,962 | -€58,523 | -13.3% |
| Total equity and liabilities | 10/49 | €582,845 | €906,365 | +€323,519 | +55.5% |
| Equity | 10/15 | €399,186 | €714,626 | +€315,441 | +79.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €397,186 | €712,626 | +€315,441 | +79.4% |
| Distributable reserves | 133 | €397,186 | €712,626 | +€315,441 | +79.4% |
| Amounts payable | 17/49 | €183,659 | €191,738 | +€8,079 | +4.4% |
| Amounts payable after more than one year | 17 | €6,673 | €0 | -€6,673 | -100.0% |
| Financial debts | 170/4 | €6,673 | €0 | -€6,673 | -100.0% |
| Amounts payable within one year | 42/48 | €145,486 | €191,738 | +€46,252 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €12,872 | €6,673 | -€6,199 | -48.2% |
| Trade debts | 44 | €20,529 | €70,417 | +€49,888 | +243.0% |
| Suppliers | 440/4 | €20,529 | €70,417 | +€49,888 | +243.0% |
| Taxes, remuneration and social security | 45 | €109,560 | €114,648 | +€5,088 | +4.6% |
| Taxes | 450/3 | €5,104 | €25,373 | +€20,270 | +397.2% |
| Remuneration and social security | 454/9 | €104,457 | €89,275 | -€15,182 | -14.5% |
| Other amounts payable | 47/48 | €2,525 | €0 | -€2,525 | -100.0% |
| Accrued charges and deferred income | 492/3 | €31,500 | €0 | -€31,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €943,188 | €957,664 | +€14,477 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,638 | €40,631 | +€11,992 | +41.9% |
| Other operating charges | 640/8 | €5,150 | €5,134 | -€16 | -0.3% |
| Gross operating margin | 9900 | €1,319,051 | €1,450,449 | +€131,397 | +10.0% |
| Operating profit (loss) | 9901 | €342,076 | €447,020 | +€104,944 | +30.7% |
| Financial income | 75/76B | €6,328 | €25,431 | +€19,103 | +301.9% |
| Recurring financial income | 75 | €6,328 | €25,431 | +€19,103 | +301.9% |
| Financial charges | 65/66B | €1,270 | €9,400 | +€8,130 | +640.0% |
| Recurring financial charges | 65 | €1,270 | €9,400 | +€8,130 | +640.0% |
| Profit (loss) for the period before taxes | 9903 | €347,133 | €463,051 | +€115,918 | +33.4% |
| Income taxes | 67/77 | €115,823 | €147,611 | +€31,787 | +27.4% |
| Profit (loss) for the period | 9904 | €231,310 | €315,441 | +€84,131 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €231,310 | €315,441 | +€84,131 | +36.4% |
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 8 October 2026 via checked.be.