MJO: 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.
MJO
Largest movements
- Cash -€34,592
down €34,592 (-93.8%), from €36,861 to €2,269
mainly Net result for the year (-€47,943) and Debts after one year (-€20,208)
- Tangible fixed assets -€21,636
down €21,636 (-31.2%), from €69,338 to €47,702
of which Land and buildings: -€21,636
- Receivables within one year -€10,272
down €10,272 (-61.5%), from €16,704 to €6,432
of which Other amounts receivable: -€10,261
- Profit (loss) carried forward -€47,943
down €47,943 (-38.3%), from -€125,091 to -€173,034
- Debts after one year -€20,208
down €20,208 (-38.6%), from €52,339 to €32,131
- Other debts +€1,454
up €1,454 (+1.7%), from €86,638 to €88,092
- Gross operating margin -€3,696
down €3,696 (-27.2%), from -€13,598 to -€17,294
- Depreciation -€2,100
down €2,100 (-8.8%), from €23,735 to €21,636
- Financial charges +€1,350
up €1,350 (+28.5%), from €4,743 to €6,093
- Other operating charges -€867
down €867 (-25.0%), from €3,475 to €2,608
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 | €124,525 | €57,660 | -€66,865 | -53.7% |
| Fixed assets | 21/28 | €69,338 | €47,702 | -€21,636 | -31.2% |
| Tangible fixed assets | 22/27 | €69,338 | €47,702 | -€21,636 | -31.2% |
| Land and buildings | 22 | €69,338 | €47,702 | -€21,636 | -31.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €55,187 | €9,958 | -€45,229 | -82.0% |
| Amounts receivable within one year | 40/41 | €16,704 | €6,432 | -€10,272 | -61.5% |
| Trade receivables | 40 | €11 | - | -€11 | |
| Other amounts receivable | 41 | €16,693 | €6,432 | -€10,261 | -61.5% |
| Current investments | 50/53 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €36,861 | €2,269 | -€34,592 | -93.8% |
| Deferred charges and accrued income | 490/1 | €1,622 | €1,257 | -€365 | -22.5% |
| Total equity and liabilities | 10/49 | €124,525 | €57,660 | -€66,865 | -53.7% |
| Equity | 10/15 | -€35,840 | -€83,784 | -€47,943 | -133.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,651 | €70,651 | = | 0.0% |
| Distributable reserves | 133 | €70,651 | €70,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€125,091 | -€173,034 | -€47,943 | -38.3% |
| Amounts payable | 17/49 | €160,365 | €141,443 | -€18,922 | -11.8% |
| Amounts payable after more than one year | 17 | €52,339 | €32,131 | -€20,208 | -38.6% |
| Financial debts | 170/4 | €52,339 | €32,131 | -€20,208 | -38.6% |
| Amounts payable within one year | 42/48 | €108,026 | €109,312 | +€1,286 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €19,288 | €20,208 | +€920 | +4.8% |
| Financial debts | 43 | €471 | - | -€471 | |
| Credit institutions | 430/8 | €471 | - | -€471 | |
| Trade debts | 44 | €1,326 | €396 | -€930 | -70.1% |
| Suppliers | 440/4 | €1,326 | €396 | -€930 | -70.1% |
| Taxes, remuneration and social security | 45 | €304 | €616 | +€312 | +102.7% |
| Taxes | 450/3 | €304 | €616 | +€312 | +102.7% |
| Other amounts payable | 47/48 | €86,638 | €88,092 | +€1,454 | +1.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,735 | €21,636 | -€2,100 | -8.8% |
| Other operating charges | 640/8 | €3,475 | €2,608 | -€867 | -25.0% |
| Gross operating margin | 9900 | -€13,598 | -€17,294 | -€3,696 | -27.2% |
| Operating profit (loss) | 9901 | -€40,809 | -€41,538 | -€729 | -1.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,743 | €6,093 | +€1,350 | +28.5% |
| Recurring financial charges | 65 | €4,743 | €6,093 | +€1,350 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | -€45,552 | -€47,631 | -€2,079 | -4.6% |
| Income taxes | 67/77 | €304 | €312 | +€8 | +2.7% |
| Profit (loss) for the period | 9904 | -€45,856 | -€47,943 | -€2,087 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,856 | -€47,943 | -€2,087 | -4.6% |
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.