MJMT: 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.
MJMT
Largest movements
- Receivables after one year -€129,153
down €129,153 (-90.3%), from €143,000 to €13,847
of which Other amounts receivable: -€143,000
- Cash +€86,592
up €86,592 (+119.7%), from €72,344 to €158,937
mainly Net result for the year (+€131,077) and Receivables after one year (+€129,153)
- Current investments -€36,937
down €36,937 (-13.7%), from €268,814 to €231,877
- Tangible fixed assets -€16,247
down €16,247 (-39.4%), from €41,242 to €24,994
of which Furniture and vehicles: -€18,492
- Reserves -€65,830
down €65,830 (-15.9%), from €414,214 to €348,384
- Debts after one year -€31,457
down €31,457 (-10.9%), from €289,419 to €257,962
- Other debts -€20,614
down €20,614 (-81.1%), from €25,426 to €4,813
- Tax, wage and social debts +€15,526
up €15,526 (+111.7%), from €13,900 to €29,427
of which Taxes: +€13,281
- Financial income +€72,874
up €72,874 (+268.9%), from €27,102 to €99,976
- Depreciation -€15,165
down €15,165 (-80.7%), from €18,799 to €3,634
- Taxes +€14,334
up €14,334 (+78.9%), from €18,174 to €32,508
- Gross operating margin +€9,398
up €9,398 (+10.0%), from €94,214 to €103,612
- Financial charges +€4,621
up €4,621 (+16.0%), from €28,802 to €33,422
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 | €1,069,060 | €975,242 | -€93,818 | -8.8% |
| Fixed assets | 21/28 | €529,442 | €513,194 | -€16,247 | -3.1% |
| Tangible fixed assets | 22/27 | €41,242 | €24,994 | -€16,247 | -39.4% |
| Furniture and vehicles | 24 | €27,417 | €8,925 | -€18,492 | -67.4% |
| Other tangible fixed assets | 26 | €13,825 | €16,069 | +€2,245 | +16.2% |
| Financial fixed assets | 28 | €488,200 | €488,200 | = | 0.0% |
| Current assets | 29/58 | €539,618 | €462,047 | -€77,571 | -14.4% |
| Amounts receivable after more than one year | 29 | €143,000 | €13,847 | -€129,153 | -90.3% |
| Trade receivables | 290 | - | €13,847 | +€13,847 | |
| Other amounts receivable | 291 | €143,000 | €0 | -€143,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €47,804 | €48,281 | +€477 | +1.0% |
| Trade receivables | 40 | €39,628 | €41,540 | +€1,912 | +4.8% |
| Other amounts receivable | 41 | €8,177 | €6,742 | -€1,435 | -17.6% |
| Current investments | 50/53 | €268,814 | €231,877 | -€36,937 | -13.7% |
| Cash at bank and in hand | 54/58 | €72,344 | €158,937 | +€86,592 | +119.7% |
| Deferred charges and accrued income | 490/1 | €7,656 | €9,105 | +€1,449 | +18.9% |
| Total equity and liabilities | 10/49 | €1,069,060 | €975,242 | -€93,818 | -8.8% |
| Equity | 10/15 | €426,614 | €360,784 | -€65,830 | -15.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €414,214 | €348,384 | -€65,830 | -15.9% |
| Distributable reserves | 133 | €414,214 | €348,384 | -€65,830 | -15.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €642,446 | €614,457 | -€27,989 | -4.4% |
| Amounts payable after more than one year | 17 | €289,419 | €257,962 | -€31,457 | -10.9% |
| Financial debts | 170/4 | €289,419 | €257,962 | -€31,457 | -10.9% |
| Amounts payable within one year | 42/48 | €353,027 | €356,495 | +€3,468 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €112,322 | €119,147 | +€6,825 | +6.1% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €1,377 | €3,109 | +€1,731 | +125.7% |
| Suppliers | 440/4 | €1,377 | €3,109 | +€1,731 | +125.7% |
| Taxes, remuneration and social security | 45 | €13,900 | €29,427 | +€15,526 | +111.7% |
| Taxes | 450/3 | €13,900 | €27,182 | +€13,281 | +95.5% |
| Remuneration and social security | 454/9 | €0 | €2,245 | +€2,245 | |
| Other amounts payable | 47/48 | €25,426 | €4,813 | -€20,614 | -81.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,799 | €3,634 | -€15,165 | -80.7% |
| Other operating charges | 640/8 | €1,366 | €2,946 | +€1,580 | +115.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €94,214 | €103,612 | +€9,398 | +10.0% |
| Operating profit (loss) | 9901 | €74,048 | €97,032 | +€22,984 | +31.0% |
| Financial income | 75/76B | €27,102 | €99,976 | +€72,874 | +268.9% |
| Recurring financial income | 75 | €27,102 | €99,976 | +€72,874 | +268.9% |
| Financial charges | 65/66B | €28,802 | €33,422 | +€4,621 | +16.0% |
| Recurring financial charges | 65 | €28,802 | €33,422 | +€4,621 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €72,349 | €163,585 | +€91,237 | +126.1% |
| Income taxes | 67/77 | €18,174 | €32,508 | +€14,334 | +78.9% |
| Profit (loss) for the period | 9904 | €54,175 | €131,077 | +€76,902 | +142.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,175 | €131,077 | +€76,902 | +142.0% |
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 12 October 2026 via checked.be.