MJT construct: what changed
Two fiscal 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.
MJT construct
Largest movements
- Receivables within one year -€52,182
down €52,182 (-57.8%), from €90,225 to €38,043
of which Trade receivables: -€56,208
- Tangible fixed assets +€2,600
new in 2025: €2,600
of which Plant, machinery and equipment: +€2,043
- Cash -€1,802
down €1,802 (-29.8%), from €6,039 to €4,237
mainly Advances received (-€46,968) and Trade debts (-€19,043)
- Advances received -€46,968
down €46,968 (-84.5%), from €55,585 to €8,618
- Trade debts -€19,043
down €19,043 (-57.3%), from €33,217 to €14,174
- Reserves +€11,537
up €11,537 (+1885.5%), from €612 to €12,149
- Tax, wage and social debts +€2,857
up €2,857 (+70.0%), from €4,082 to €6,939
of which Taxes: +€2,732
- Gross operating margin +€8,171
up €8,171 (+91.5%), from €8,934 to €17,105
- Taxes +€1,978
up €1,978 (+105.1%), from €1,881 to €3,859
- Other operating charges -€1,294
down €1,294 (-74.2%), from €1,743 to €449
- Depreciation +€524
new in 2025: €524
- Financial charges +€448
up €448 (+156.0%), from €287 to €736
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 | €96,921 | €44,880 | -€52,042 | -53.7% |
| Fixed assets | 21/28 | - | €2,600 | +€2,600 | |
| Tangible fixed assets | 22/27 | - | €2,600 | +€2,600 | |
| Plant, machinery and equipment | 23 | - | €2,043 | +€2,043 | |
| Furniture and vehicles | 24 | - | €557 | +€557 | |
| Current assets | 29/58 | €96,921 | €42,280 | -€54,642 | -56.4% |
| Amounts receivable within one year | 40/41 | €90,225 | €38,043 | -€52,182 | -57.8% |
| Trade receivables | 40 | €90,225 | €34,017 | -€56,208 | -62.3% |
| Other amounts receivable | 41 | - | €4,026 | +€4,026 | |
| Cash at bank and in hand | 54/58 | €6,039 | €4,237 | -€1,802 | -29.8% |
| Deferred charges and accrued income | 490/1 | €658 | - | -€658 | |
| Total equity and liabilities | 10/49 | €96,921 | €44,880 | -€52,042 | -53.7% |
| Equity | 10/15 | €3,612 | €15,149 | +€11,537 | +319.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €612 | €12,149 | +€11,537 | +1885.5% |
| Distributable reserves | 133 | €612 | €12,149 | +€11,537 | +1885.5% |
| Amounts payable | 17/49 | €93,309 | €29,731 | -€63,579 | -68.1% |
| Amounts payable within one year | 42/48 | €93,309 | €29,731 | -€63,579 | -68.1% |
| Trade debts | 44 | €33,217 | €14,174 | -€19,043 | -57.3% |
| Suppliers | 440/4 | €33,217 | €14,174 | -€19,043 | -57.3% |
| Advances received on contracts in progress | 46 | €55,585 | €8,618 | -€46,968 | -84.5% |
| Taxes, remuneration and social security | 45 | €4,082 | €6,939 | +€2,857 | +70.0% |
| Taxes | 450/3 | €4,082 | €6,814 | +€2,732 | +66.9% |
| Remuneration and social security | 454/9 | - | €125 | +€125 | |
| Other amounts payable | 47/48 | €425 | - | -€425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €524 | +€524 | |
| Other operating charges | 640/8 | €1,743 | €449 | -€1,294 | -74.2% |
| Gross operating margin | 9900 | €8,934 | €17,105 | +€8,171 | +91.5% |
| Operating profit (loss) | 9901 | €7,191 | €16,132 | +€8,941 | +124.3% |
| Financial income | 75/76B | €303 | - | -€303 | |
| Recurring financial income | 75 | €303 | - | -€303 | |
| Financial charges | 65/66B | €287 | €736 | +€448 | +156.0% |
| Recurring financial charges | 65 | €287 | €736 | +€448 | +156.0% |
| Profit (loss) for the period before taxes | 9903 | €7,207 | €15,396 | +€8,190 | +113.6% |
| Income taxes | 67/77 | €1,881 | €3,859 | +€1,978 | +105.1% |
| Profit (loss) for the period | 9904 | €5,325 | €11,537 | +€6,212 | +116.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,325 | €11,537 | +€6,212 | +116.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.