MJM: 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.
MJM
Largest movements
- Current investments -€13,885
no longer reported in 2025 (was €13,885)
- Receivables within one year -€11,935
down €11,935 (-30.7%), from €38,869 to €26,934
of which Trade receivables: -€11,701
- Deferred charges and accrued income -€11,050
down €11,050 (-73.1%), from €15,117 to €4,067
- Cash -€5,529
down €5,529 (-65.8%), from €8,400 to €2,871
mainly Net result for the year (-€30,330) and Other debts (-€14,342)
- Profit (loss) carried forward -€30,108
down €30,108 (-197%), from -€15,295 to -€45,403
- Other debts -€14,342
down €14,342 (-41.6%), from €34,495 to €20,153
- Tax, wage and social debts -€8,819
down €8,819 (-61.4%), from €14,355 to €5,536
of which Taxes: -€8,592
- Accrued charges and deferred income +€6,736
new in 2025: €6,736
- Trade debts +€5,434
up €5,434 (+154%), from €3,538 to €8,972
- Gross operating margin -€51,458
down €51,458, from €33,085 to -€18,373
- Taxes -€4,936
down €4,936 (-94.5%), from €5,224 to €288
- Depreciation +€1,789
up €1,789 (+56.0%), from €3,194 to €4,982
- Financial charges +€1,537
up €1,537 (+36.7%), from €4,194 to €5,732
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 | €85,793 | €43,996 | -€41,798 | -48.7% |
| Fixed assets | 21/28 | €9,521 | €10,124 | +€603 | +6.3% |
| Tangible fixed assets | 22/27 | €9,521 | €10,124 | +€603 | +6.3% |
| Plant, machinery and equipment | 23 | - | €1,512 | +€1,512 | |
| Furniture and vehicles | 24 | €7,742 | €7,479 | -€263 | -3.4% |
| Other tangible fixed assets | 26 | €1,779 | €1,132 | -€647 | -36.4% |
| Current assets | 29/58 | €76,272 | €33,872 | -€42,400 | -55.6% |
| Amounts receivable within one year | 40/41 | €38,869 | €26,934 | -€11,935 | -30.7% |
| Trade receivables | 40 | €38,338 | €26,638 | -€11,701 | -30.5% |
| Other amounts receivable | 41 | €531 | €296 | -€235 | -44.2% |
| Current investments | 50/53 | €13,885 | - | -€13,885 | |
| Cash at bank and in hand | 54/58 | €8,400 | €2,871 | -€5,529 | -65.8% |
| Deferred charges and accrued income | 490/1 | €15,117 | €4,067 | -€11,050 | -73.1% |
| Total equity and liabilities | 10/49 | €85,793 | €43,996 | -€41,798 | -48.7% |
| Equity | 10/15 | €31,355 | €1,247 | -€30,108 | -96.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,650 | €45,650 | = | 0.0% |
| Distributable reserves | 133 | €45,650 | €45,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,295 | -€45,403 | -€30,108 | -197% |
| Amounts payable | 17/49 | €54,439 | €42,749 | -€11,690 | -21.5% |
| Amounts payable within one year | 42/48 | €54,439 | €36,013 | -€18,426 | -33.8% |
| Financial debts | 43 | €2,050 | €1,352 | -€698 | -34.1% |
| Credit institutions | 430/8 | €2,050 | - | -€2,050 | |
| Other loans | 439 | - | €1,352 | +€1,352 | |
| Trade debts | 44 | €3,538 | €8,972 | +€5,434 | +154% |
| Suppliers | 440/4 | €3,538 | €8,972 | +€5,434 | +154% |
| Taxes, remuneration and social security | 45 | €14,355 | €5,536 | -€8,819 | -61.4% |
| Taxes | 450/3 | €11,955 | €3,363 | -€8,592 | -71.9% |
| Remuneration and social security | 454/9 | €2,400 | €2,173 | -€227 | -9.5% |
| Other amounts payable | 47/48 | €34,495 | €20,153 | -€14,342 | -41.6% |
| Accrued charges and deferred income | 492/3 | - | €6,736 | +€6,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,194 | €4,982 | +€1,789 | +56.0% |
| Other operating charges | 640/8 | €997 | €1,075 | +€78 | +7.8% |
| Gross operating margin | 9900 | €33,085 | -€18,373 | -€51,458 | |
| Operating profit (loss) | 9901 | €28,894 | -€24,430 | -€53,325 | |
| Financial income | 75/76B | €229 | €121 | -€108 | -47.3% |
| Recurring financial income | 75 | €229 | €121 | -€108 | -47.3% |
| Financial charges | 65/66B | €4,194 | €5,732 | +€1,537 | +36.7% |
| Recurring financial charges | 65 | €4,194 | €5,732 | +€1,537 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €24,929 | -€30,042 | -€54,970 | |
| Income taxes | 67/77 | €5,224 | €288 | -€4,936 | -94.5% |
| Profit (loss) for the period | 9904 | €19,705 | -€30,330 | -€50,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,705 | -€30,330 | -€50,035 |
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 18 October 2026 via checked.be.