MZJ: 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.
MZJ
Largest movements
- Tangible fixed assets -€4,680
down €4,680 (-23.8%), from €19,647 to €14,967
of which Furniture and vehicles: -€4,520
- Cash +€3,016
up €3,016 (+9.8%), from €30,744 to €33,760
mainly Net result for the year (+€7,366) and Depreciation (+€7,181)
- Intangible fixed assets -€2,501
down €2,501 (-16.7%), from €15,006 to €12,505
- Receivables within one year -€1,932
down €1,932 (-80.6%), from €2,399 to €467
- Stocks and contracts +€717
up €717 (+38.8%), from €1,849 to €2,566
- Other debts -€10,396
down €10,396 (-26.5%), from €39,161 to €28,765
- Reserves +€7,365
up €7,365 (+45.2%), from €16,300 to €23,665
- Tax, wage and social debts -€1,673
down €1,673 (-14.5%), from €11,567 to €9,893
of which Taxes: -€2,900
- Gross operating margin -€20,583
down €20,583 (-32.4%), from €63,451 to €42,867
- Staff costs -€8,488
down €8,488 (-26.0%), from €32,623 to €24,135
- Taxes -€3,343
down €3,343 (-54.3%), from €6,162 to €2,819
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 | €70,458 | €65,420 | -€5,038 | -7.2% |
| Fixed assets | 21/28 | €34,858 | €27,678 | -€7,181 | -20.6% |
| Intangible fixed assets | 21 | €15,006 | €12,505 | -€2,501 | -16.7% |
| Tangible fixed assets | 22/27 | €19,647 | €14,967 | -€4,680 | -23.8% |
| Plant, machinery and equipment | 23 | €319 | €160 | -€160 | -50.0% |
| Furniture and vehicles | 24 | €19,328 | €14,808 | -€4,520 | -23.4% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €35,600 | €37,743 | +€2,143 | +6.0% |
| Stocks and contracts in progress | 3 | €1,849 | €2,566 | +€717 | +38.8% |
| Stocks | 30/36 | €1,849 | €2,566 | +€717 | +38.8% |
| Amounts receivable within one year | 40/41 | €2,399 | €467 | -€1,932 | -80.6% |
| Trade receivables | 40 | €2,399 | €467 | -€1,932 | -80.6% |
| Cash at bank and in hand | 54/58 | €30,744 | €33,760 | +€3,016 | +9.8% |
| Deferred charges and accrued income | 490/1 | €608 | €950 | +€342 | +56.2% |
| Total equity and liabilities | 10/49 | €70,458 | €65,420 | -€5,038 | -7.2% |
| Equity | 10/15 | €19,006 | €26,371 | +€7,366 | +38.8% |
| Contributions | 10/11 | €2,700 | €2,700 | = | 0.0% |
| Reserves | 13 | €16,300 | €23,665 | +€7,365 | +45.2% |
| Distributable reserves | 133 | €16,300 | €23,665 | +€7,365 | +45.2% |
| Profit (loss) carried forward | 14 | €6 | €6 | +€1 | +15.7% |
| Amounts payable | 17/49 | €51,453 | €39,049 | -€12,404 | -24.1% |
| Amounts payable within one year | 42/48 | €51,251 | €38,849 | -€12,402 | -24.2% |
| Trade debts | 44 | €524 | €191 | -€333 | -63.6% |
| Suppliers | 440/4 | €524 | €191 | -€333 | -63.6% |
| Taxes, remuneration and social security | 45 | €11,567 | €9,893 | -€1,673 | -14.5% |
| Taxes | 450/3 | €9,371 | €6,471 | -€2,900 | -31.0% |
| Remuneration and social security | 454/9 | €2,196 | €3,423 | +€1,227 | +55.9% |
| Other amounts payable | 47/48 | €39,161 | €28,765 | -€10,396 | -26.5% |
| Accrued charges and deferred income | 492/3 | €202 | €200 | -€2 | -0.7% |
| Remuneration, social security and pensions | 62 | €32,623 | €24,135 | -€8,488 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,346 | €7,181 | -€165 | -2.3% |
| Other operating charges | 640/8 | €983 | €1,250 | +€267 | +27.2% |
| Gross operating margin | 9900 | €63,451 | €42,867 | -€20,583 | -32.4% |
| Operating profit (loss) | 9901 | €22,498 | €10,302 | -€12,197 | -54.2% |
| Financial charges | 65/66B | €30 | €117 | +€86 | +283% |
| Recurring financial charges | 65 | €30 | €117 | +€86 | +283% |
| Profit (loss) for the period before taxes | 9903 | €22,468 | €10,185 | -€12,283 | -54.7% |
| Income taxes | 67/77 | €6,162 | €2,819 | -€3,343 | -54.3% |
| Profit (loss) for the period | 9904 | €16,306 | €7,366 | -€8,940 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,306 | €7,366 | -€8,940 | -54.8% |
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 17 October 2026 via checked.be.