MJN HOLDCO: 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.
MJN HOLDCO
Largest movements
- Cash +€63,987
up €63,987 (+477%), from €13,409 to €77,397
mainly Net result for the year (+€69,712) and Depreciation (+€8,461)
- Tangible fixed assets +€16,519
up €16,519 (+46.1%), from €35,834 to €52,353
of which Leasing and similar rights: +€11,649
- Receivables within one year +€7,124
up €7,124 (+122%), from €5,843 to €12,968
of which Trade receivables: +€7,124
- Profit (loss) carried forward +€112,958
up €112,958, from -€112,246 to €712
- Contributions -€112,246
down €112,246 (-93.5%), from €120,000 to €7,754
- Reserves +€69,000
new in 2025: €69,000
- Tax, wage and social debts +€6,900
new in 2025: €6,900
- Debts after one year +€4,521
up €4,521 (+25.9%), from €17,441 to €21,961
- Gross operating margin +€80,056
up €80,056 (+870%), from €9,206 to €89,262
- Taxes +€6,900
new in 2025: €6,900
- Depreciation +€4,405
up €4,405 (+109%), from €4,056 to €8,461
- Other operating charges +€1,780
up €1,780 (+171%), from €1,042 to €2,822
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 | €56,220 | €144,267 | +€88,047 | +157% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €35,834 | €52,353 | +€16,519 | +46.1% |
| Tangible fixed assets | 22/27 | €35,834 | €52,353 | +€16,519 | +46.1% |
| Plant, machinery and equipment | 23 | €14,194 | €17,913 | +€3,719 | +26.2% |
| Furniture and vehicles | 24 | - | €1,152 | +€1,152 | |
| Leasing and similar rights | 25 | €21,640 | €33,288 | +€11,649 | +53.8% |
| Current assets | 29/58 | €20,386 | €91,914 | +€71,528 | +351% |
| Amounts receivable within one year | 40/41 | €5,843 | €12,968 | +€7,124 | +122% |
| Trade receivables | 40 | €2,343 | €9,467 | +€7,124 | +304% |
| Other amounts receivable | 41 | €3,500 | €3,500 | = | 0.0% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €13,409 | €77,397 | +€63,987 | +477% |
| Deferred charges and accrued income | 490/1 | €1,134 | €1,548 | +€414 | +36.6% |
| Total equity and liabilities | 10/49 | €56,220 | €144,267 | +€88,047 | +157% |
| Equity | 10/15 | €7,754 | €77,466 | +€69,712 | +899% |
| Contributions | 10/11 | €120,000 | €7,754 | -€112,246 | -93.5% |
| Capital | 10 | €120,000 | - | -€120,000 | |
| Issued capital | 100 | €120,000 | - | -€120,000 | |
| Reserves | 13 | - | €69,000 | +€69,000 | |
| Distributable reserves | 133 | - | €69,000 | +€69,000 | |
| Profit (loss) carried forward | 14 | -€112,246 | €712 | +€112,958 | |
| Amounts payable | 17/49 | €48,466 | €66,801 | +€18,335 | +37.8% |
| Amounts payable after more than one year | 17 | €17,441 | €21,961 | +€4,521 | +25.9% |
| Financial debts | 170/4 | €17,441 | €21,961 | +€4,521 | +25.9% |
| Amounts payable within one year | 42/48 | €31,025 | €42,316 | +€11,291 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €4,383 | €7,374 | +€2,990 | +68.2% |
| Financial debts | 43 | - | €40 | +€40 | |
| Credit institutions | 430/8 | - | €40 | +€40 | |
| Trade debts | 44 | €1,608 | €3,720 | +€2,112 | +131% |
| Suppliers | 440/4 | €1,608 | €3,720 | +€2,112 | +131% |
| Taxes, remuneration and social security | 45 | - | €6,900 | +€6,900 | |
| Taxes | 450/3 | - | €6,900 | +€6,900 | |
| Other amounts payable | 47/48 | €25,034 | €24,283 | -€751 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €2,523 | +€2,523 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,056 | €8,461 | +€4,405 | +109% |
| Other operating charges | 640/8 | €1,042 | €2,822 | +€1,780 | +171% |
| Non-recurring operating charges | 66A | €5,179 | - | -€5,179 | |
| Gross operating margin | 9900 | €9,206 | €89,262 | +€80,056 | +870% |
| Operating profit (loss) | 9901 | -€1,072 | €77,979 | +€79,051 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,078 | €1,367 | -€711 | -34.2% |
| Recurring financial charges | 65 | €2,078 | €1,367 | -€711 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,150 | €76,612 | +€79,762 | |
| Income taxes | 67/77 | - | €6,900 | +€6,900 | |
| Profit (loss) for the period | 9904 | -€3,150 | €69,712 | +€72,862 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,150 | €69,712 | +€72,862 |
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 27 October 2026 via checked.be.