MJ Management: 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 Management
Largest movements
- Receivables within one year +€169,924
up €169,924 (+33.7%), from €503,808 to €673,732
of which Other amounts receivable: +€150,684
- Deferred charges and accrued income +€69,937
up €69,937 (+5880.5%), from €1,189 to €71,126
- Financial fixed assets +€40,000
up €40,000 (+60.3%), from €66,377 to €106,377
- Other debts +€122,950
up €122,950 (+10.6%), from €1.2m to €1.3m
- Profit (loss) carried forward +€106,968
up €106,968 (+215.4%), from €49,670 to €156,638
- Trade debts +€51,675
up €51,675 (+470.3%), from €10,988 to €62,663
- Short-term financial debts +€41,510
new in 2025: €41,510
- Debts after one year -€32,274
down €32,274 (-3.9%), from €821,446 to €789,172
- Financial income +€68,207
up €68,207 (+620.6%), from €10,990 to €79,197
- Taxes +€13,040
up €13,040 (+77.0%), from €16,934 to €29,975
- Gross operating margin +€11,221
up €11,221 (+9.3%), from €120,648 to €131,870
- Other operating charges +€5,527
up €5,527 (+1437.7%), from €384 to €5,912
- Depreciation +€3,395
up €3,395 (+11.3%), from €30,112 to €33,507
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 | €2,104,190 | €2,374,127 | +€269,937 | +12.8% |
| Fixed assets | 21/28 | €1,590,760 | €1,624,011 | +€33,251 | +2.1% |
| Tangible fixed assets | 22/27 | €1,524,384 | €1,517,635 | -€6,749 | -0.4% |
| Land and buildings | 22 | €1,524,384 | €1,517,635 | -€6,749 | -0.4% |
| Financial fixed assets | 28 | €66,377 | €106,377 | +€40,000 | +60.3% |
| Current assets | 29/58 | €513,430 | €750,115 | +€236,685 | +46.1% |
| Amounts receivable within one year | 40/41 | €503,808 | €673,732 | +€169,924 | +33.7% |
| Trade receivables | 40 | €49,488 | €68,727 | +€19,240 | +38.9% |
| Other amounts receivable | 41 | €454,321 | €605,005 | +€150,684 | +33.2% |
| Current investments | 50/53 | €4,997 | €4,987 | -€10 | -0.2% |
| Cash at bank and in hand | 54/58 | €3,435 | €270 | -€3,165 | -92.1% |
| Deferred charges and accrued income | 490/1 | €1,189 | €71,126 | +€69,937 | +5880.5% |
| Total equity and liabilities | 10/49 | €2,104,190 | €2,374,127 | +€269,937 | +12.8% |
| Equity | 10/15 | €54,670 | €161,638 | +€106,968 | +195.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,670 | €156,638 | +€106,968 | +215.4% |
| Amounts payable | 17/49 | €2,049,520 | €2,212,489 | +€162,969 | +8.0% |
| Amounts payable after more than one year | 17 | €821,446 | €789,172 | -€32,274 | -3.9% |
| Financial debts | 170/4 | €821,446 | €789,172 | -€32,274 | -3.9% |
| Amounts payable within one year | 42/48 | €1,228,074 | €1,423,317 | +€195,243 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €31,078 | €32,274 | +€1,196 | +3.8% |
| Financial debts | 43 | - | €41,510 | +€41,510 | |
| Credit institutions | 430/8 | - | €41,510 | +€41,510 | |
| Trade debts | 44 | €10,988 | €62,663 | +€51,675 | +470.3% |
| Suppliers | 440/4 | €10,988 | €62,663 | +€51,675 | +470.3% |
| Taxes, remuneration and social security | 45 | €27,981 | €5,893 | -€22,088 | -78.9% |
| Taxes | 450/3 | €27,981 | €5,893 | -€22,088 | -78.9% |
| Other amounts payable | 47/48 | €1,158,026 | €1,280,976 | +€122,950 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,112 | €33,507 | +€3,395 | +11.3% |
| Other operating charges | 640/8 | €384 | €5,912 | +€5,527 | +1437.7% |
| Non-recurring operating charges | 66A | €25,978 | - | -€25,978 | |
| Gross operating margin | 9900 | €120,648 | €131,870 | +€11,221 | +9.3% |
| Operating profit (loss) | 9901 | €64,175 | €92,452 | +€28,277 | +44.1% |
| Financial income | 75/76B | €10,990 | €79,197 | +€68,207 | +620.6% |
| Recurring financial income | 75 | €10,990 | €79,197 | +€68,207 | +620.6% |
| Financial charges | 65/66B | €36,933 | €34,706 | -€2,227 | -6.0% |
| Recurring financial charges | 65 | €36,933 | €34,706 | -€2,227 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €38,231 | €136,942 | +€98,711 | +258.2% |
| Income taxes | 67/77 | €16,934 | €29,975 | +€13,040 | +77.0% |
| Profit (loss) for the period | 9904 | €21,297 | €106,968 | +€85,671 | +402.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,297 | €106,968 | +€85,671 | +402.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.