MJ magic: 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 magic
Largest movements
- Receivables within one year -€7,878
down €7,878 (-22.3%), from €35,271 to €27,393
of which Trade receivables: -€7,834
- Cash +€4,597
up €4,597 (+753%), from €611 to €5,208
mainly Net result for the year (+€35,029) and Receivables within one year (+€7,878)
- Debts after one year -€42,338
no longer reported in 2025 (was €42,338)
- Profit (loss) carried forward +€35,029
up €35,029 (+43.8%), from €80,057 to €115,086
- Other debts +€7,490
up €7,490 (+4.3%), from €172,797 to €180,287
- Current portion of long-term debt -€7,265
down €7,265 (-13.0%), from €56,089 to €48,824
- Tax, wage and social debts +€5,536
up €5,536 (+36.4%), from €15,224 to €20,760
of which Taxes: +€6,206
- Write-downs +€68,391
new in 2025: €68,391
- Gross operating margin +€44,276
up €44,276 (+58.5%), from €75,629 to €119,905
- Staff costs -€19,389
down €19,389 (-98.0%), from €19,787 to €398
- Financial charges -€2,551
down €2,551 (-47.8%), from €5,340 to €2,789
- Other operating charges +€1,404
up €1,404 (+195%), from €719 to €2,123
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 | €387,551 | €382,962 | -€4,589 | -1.2% |
| Fixed assets | 21/28 | €351,670 | €350,290 | -€1,380 | -0.4% |
| Tangible fixed assets | 22/27 | €11,670 | €10,290 | -€1,380 | -11.8% |
| Land and buildings | 22 | €11,500 | - | -€11,500 | |
| Furniture and vehicles | 24 | €170 | - | -€170 | |
| Other tangible fixed assets | 26 | - | €10,290 | +€10,290 | |
| Financial fixed assets | 28 | €340,000 | €340,000 | = | 0.0% |
| Current assets | 29/58 | €35,881 | €32,672 | -€3,209 | -8.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €35,271 | €27,393 | -€7,878 | -22.3% |
| Trade receivables | 40 | €35,226 | €27,393 | -€7,834 | -22.2% |
| Other amounts receivable | 41 | €44 | - | -€44 | |
| Cash at bank and in hand | 54/58 | €611 | €5,208 | +€4,597 | +753% |
| Deferred charges and accrued income | 490/1 | €0 | €72 | +€72 | |
| Total equity and liabilities | 10/49 | €387,551 | €382,962 | -€4,589 | -1.2% |
| Equity | 10/15 | €95,057 | €130,086 | +€35,029 | +36.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,057 | €115,086 | +€35,029 | +43.8% |
| Amounts payable | 17/49 | €292,494 | €252,876 | -€39,618 | -13.5% |
| Amounts payable after more than one year | 17 | €42,338 | - | -€42,338 | |
| Financial debts | 170/4 | €42,338 | - | -€42,338 | |
| Amounts payable within one year | 42/48 | €250,156 | €252,876 | +€2,720 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €56,089 | €48,824 | -€7,265 | -13.0% |
| Trade debts | 44 | €4,054 | €3,005 | -€1,048 | -25.9% |
| Suppliers | 440/4 | €4,054 | €3,005 | -€1,048 | -25.9% |
| Advances received on contracts in progress | 46 | €1,992 | - | -€1,992 | |
| Taxes, remuneration and social security | 45 | €15,224 | €20,760 | +€5,536 | +36.4% |
| Taxes | 450/3 | €14,555 | €20,760 | +€6,206 | +42.6% |
| Remuneration and social security | 454/9 | €670 | - | -€670 | |
| Other amounts payable | 47/48 | €172,797 | €180,287 | +€7,490 | +4.3% |
| Remuneration, social security and pensions | 62 | €19,787 | €398 | -€19,389 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,296 | €1,380 | +€84 | +6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €68,391 | +€68,391 | |
| Other operating charges | 640/8 | €719 | €2,123 | +€1,404 | +195% |
| Gross operating margin | 9900 | €75,629 | €119,905 | +€44,276 | +58.5% |
| Operating profit (loss) | 9901 | €53,826 | €47,613 | -€6,214 | -11.5% |
| Financial income | 75/76B | €52 | €124 | +€73 | +141% |
| Recurring financial income | 75 | €52 | €124 | +€73 | +141% |
| Financial charges | 65/66B | €5,340 | €2,789 | -€2,551 | -47.8% |
| Recurring financial charges | 65 | €5,340 | €2,789 | -€2,551 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €48,538 | €44,948 | -€3,590 | -7.4% |
| Income taxes | 67/77 | €10,593 | €9,919 | -€674 | -6.4% |
| Profit (loss) for the period | 9904 | €37,945 | €35,029 | -€2,916 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,945 | €35,029 | -€2,916 | -7.7% |
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.