MJMH: 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.
MJMH
Largest movements
- Intangible fixed assets -€140,700
down €140,700 (-26.2%), from €536,850 to €396,150
- Receivables within one year +€111,269
up €111,269 (+48.0%), from €231,732 to €343,001
of which Other amounts receivable: +€149,598
- Cash -€45,449
down €45,449 (-45.2%), from €100,546 to €55,097
mainly Contributions, distributions and other (-€150,000) and Debts after one year (-€139,662)
- Debts after one year -€139,662
down €139,662 (-32.7%), from €426,553 to €286,891
- Trade debts +€34,729
up €34,729 (+557%), from €6,235 to €40,964
- Tax, wage and social debts -€33,970
down €33,970 (-34.5%), from €98,419 to €64,449
of which Taxes: -€31,626
- Profit (loss) carried forward +€33,614
up €33,614 (+195%), from €17,198 to €50,811
- Current portion of long-term debt +€22,187
up €22,187 (+24.8%), from €89,308 to €111,495
- Other operating charges -€26,183
down €26,183 (-85.6%), from €30,579 to €4,397
- Financial charges +€10,201
up €10,201 (+48.8%), from €20,884 to €31,086
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 | €1,124,200 | €1,037,775 | -€86,425 | -7.7% |
| Fixed assets | 21/28 | €785,199 | €633,926 | -€151,273 | -19.3% |
| Intangible fixed assets | 21 | €536,850 | €396,150 | -€140,700 | -26.2% |
| Tangible fixed assets | 22/27 | €247,595 | €237,022 | -€10,573 | -4.3% |
| Land and buildings | 22 | €212,519 | €202,543 | -€9,977 | -4.7% |
| Furniture and vehicles | 24 | €30,822 | €31,840 | +€1,018 | +3.3% |
| Other tangible fixed assets | 26 | €4,254 | €2,640 | -€1,614 | -37.9% |
| Financial fixed assets | 28 | €753 | €753 | = | 0.0% |
| Current assets | 29/58 | €339,001 | €403,849 | +€64,848 | +19.1% |
| Amounts receivable within one year | 40/41 | €231,732 | €343,001 | +€111,269 | +48.0% |
| Trade receivables | 40 | €38,329 | - | -€38,329 | |
| Other amounts receivable | 41 | €193,403 | €343,001 | +€149,598 | +77.4% |
| Cash at bank and in hand | 54/58 | €100,546 | €55,097 | -€45,449 | -45.2% |
| Deferred charges and accrued income | 490/1 | €6,722 | €5,751 | -€972 | -14.5% |
| Total equity and liabilities | 10/49 | €1,124,200 | €1,037,775 | -€86,425 | -7.7% |
| Equity | 10/15 | €47,198 | €80,811 | +€33,614 | +71.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,198 | €50,811 | +€33,614 | +195% |
| Amounts payable | 17/49 | €1,077,002 | €956,963 | -€120,038 | -11.1% |
| Amounts payable after more than one year | 17 | €426,553 | €286,891 | -€139,662 | -32.7% |
| Financial debts | 170/4 | €426,553 | €286,891 | -€139,662 | -32.7% |
| Amounts payable within one year | 42/48 | €644,352 | €663,553 | +€19,201 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €89,308 | €111,495 | +€22,187 | +24.8% |
| Trade debts | 44 | €6,235 | €40,964 | +€34,729 | +557% |
| Suppliers | 440/4 | €6,235 | €40,964 | +€34,729 | +557% |
| Taxes, remuneration and social security | 45 | €98,419 | €64,449 | -€33,970 | -34.5% |
| Taxes | 450/3 | €39,892 | €8,266 | -€31,626 | -79.3% |
| Remuneration and social security | 454/9 | €58,528 | €56,183 | -€2,345 | -4.0% |
| Other amounts payable | 47/48 | €450,389 | €446,645 | -€3,745 | -0.8% |
| Accrued charges and deferred income | 492/3 | €6,097 | €6,520 | +€423 | +6.9% |
| Remuneration, social security and pensions | 62 | €269,133 | €268,764 | -€369 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,369 | €168,030 | +€1,661 | +1.0% |
| Other operating charges | 640/8 | €30,579 | €4,397 | -€26,183 | -85.6% |
| Gross operating margin | 9900 | €723,974 | €726,467 | +€2,493 | +0.3% |
| Operating profit (loss) | 9901 | €257,893 | €285,276 | +€27,383 | +10.6% |
| Financial income | 75/76B | €1,475 | €1,041 | -€433 | -29.4% |
| Recurring financial income | 75 | €1,475 | €1,041 | -€433 | -29.4% |
| Financial charges | 65/66B | €20,884 | €31,086 | +€10,201 | +48.8% |
| Recurring financial charges | 65 | €20,884 | €31,086 | +€10,201 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | €238,483 | €255,232 | +€16,748 | +7.0% |
| Income taxes | 67/77 | €71,285 | €71,618 | +€333 | +0.5% |
| Profit (loss) for the period | 9904 | €167,198 | €183,614 | +€16,416 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €167,198 | €183,614 | +€16,416 | +9.8% |
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 30 October 2026 via checked.be.