MJ3: 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.
MJ3
Largest movements
- Tangible fixed assets -€104,924
down €104,924 (-7.6%), from €1.4m to €1.3m
- Cash +€30,504
up €30,504 (+152.2%), from €20,038 to €50,542
mainly Depreciation (+€72,398) and Investment in fixed assets (net) (+€32,526)
- Debts after one year -€72,360
down €72,360 (-12.2%), from €592,477 to €520,117
- Financial income +€61,841
new in 2025: €61,841
of which Financial income: +€61,841
- Other operating charges +€39,769
up €39,769 (+966.4%), from €4,115 to €43,884
- Gross operating margin -€2,560
down €2,560 (-3.1%), from €83,872 to €81,312
- Financial charges -€1,993
down €1,993 (-11.0%), from €18,045 to €16,052
- Depreciation -€1,583
down €1,583 (-2.1%), from €73,981 to €72,398
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 | €2,399,968 | €2,330,223 | -€69,745 | -2.9% |
| Fixed assets | 21/28 | €2,377,812 | €2,272,888 | -€104,924 | -4.4% |
| Tangible fixed assets | 22/27 | €1,379,732 | €1,274,808 | -€104,924 | -7.6% |
| Other tangible fixed assets | 26 | €1,379,732 | €1,274,808 | -€104,924 | -7.6% |
| Financial fixed assets | 28 | €998,080 | €998,080 | = | 0.0% |
| Current assets | 29/58 | €22,156 | €57,335 | +€35,179 | +158.8% |
| Amounts receivable within one year | 40/41 | €0 | €965 | +€965 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €965 | +€965 | |
| Cash at bank and in hand | 54/58 | €20,038 | €50,542 | +€30,504 | +152.2% |
| Deferred charges and accrued income | 490/1 | €2,118 | €5,828 | +€3,710 | +175.2% |
| Total equity and liabilities | 10/49 | €2,399,968 | €2,330,223 | -€69,745 | -2.9% |
| Equity | 10/15 | €1,580,977 | €1,591,761 | +€10,784 | +0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,518,977 | €1,529,761 | +€10,784 | +0.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,512,777 | €1,523,561 | +€10,784 | +0.7% |
| Amounts payable | 17/49 | €818,991 | €738,462 | -€80,529 | -9.8% |
| Amounts payable after more than one year | 17 | €592,477 | €520,117 | -€72,360 | -12.2% |
| Financial debts | 170/4 | €592,477 | €520,117 | -€72,360 | -12.2% |
| Amounts payable within one year | 42/48 | €222,914 | €218,345 | -€4,569 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €70,966 | €72,475 | +€1,509 | +2.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €31,591 | €13,205 | -€18,386 | -58.2% |
| Suppliers | 440/4 | €31,591 | €13,205 | -€18,386 | -58.2% |
| Taxes, remuneration and social security | 45 | €10,402 | €9,523 | -€879 | -8.5% |
| Taxes | 450/3 | €10,402 | €9,523 | -€879 | -8.5% |
| Other amounts payable | 47/48 | €109,955 | €123,142 | +€13,187 | +12.0% |
| Accrued charges and deferred income | 492/3 | €3,600 | - | -€3,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,981 | €72,398 | -€1,583 | -2.1% |
| Other operating charges | 640/8 | €4,115 | €43,884 | +€39,769 | +966.4% |
| Gross operating margin | 9900 | €83,872 | €81,312 | -€2,560 | -3.1% |
| Operating profit (loss) | 9901 | €5,776 | -€34,970 | -€40,746 | |
| Financial income | 75/76B | - | €61,841 | +€61,841 | |
| Recurring financial income | 75 | - | €61,841 | +€61,841 | |
| Non-recurring financial income | 76B | - | €61,841 | +€61,841 | |
| Financial charges | 65/66B | €18,045 | €16,052 | -€1,993 | -11.0% |
| Recurring financial charges | 65 | €18,045 | €16,052 | -€1,993 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,269 | €10,819 | +€23,088 | |
| Income taxes | 67/77 | €63 | €35 | -€28 | -44.4% |
| Profit (loss) for the period | 9904 | -€12,332 | €10,784 | +€23,116 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,332 | €10,784 | +€23,116 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.