MJ magic: what changed
MJ magic
Largest movements
- Receivables within one year -€7,878
down €7,878 (-22.3%), from €35,271 to €27,393
of which Trade receivables: -€7,834
- Cash +€4,597
up €4,597 (+753%), from €611 to €5,208
mainly Net result for the year (+€35,029) and Receivables within one year (+€7,878)
- Debts after one year -€42,338
no longer reported in 2025 (was €42,338)
- Profit (loss) carried forward +€35,029
up €35,029 (+43.8%), from €80,057 to €115,086
- Other debts +€7,490
up €7,490 (+4.3%), from €172,797 to €180,287
- Current portion of long-term debt -€7,265
down €7,265 (-13.0%), from €56,089 to €48,824
- Tax, wage and social debts +€5,536
up €5,536 (+36.4%), from €15,224 to €20,760
of which Taxes: +€6,206
- Write-downs +€68,391
new in 2025: €68,391
- Gross operating margin +€44,276
up €44,276 (+58.5%), from €75,629 to €119,905
- Staff costs -€19,389
down €19,389 (-98.0%), from €19,787 to €398
- Financial charges -€2,551
down €2,551 (-47.8%), from €5,340 to €2,789
- Other operating charges +€1,404
up €1,404 (+195%), from €719 to €2,123
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,551 | €382,962 | -€4,589 | -1.2% |
| Fixed assets | 21/28 | €351,670 | €350,290 | -€1,380 | -0.4% |
| Tangible fixed assets | 22/27 | €11,670 | €10,290 | -€1,380 | -11.8% |
| Land and buildings | 22 | €11,500 | - | -€11,500 | |
| Furniture and vehicles | 24 | €170 | - | -€170 | |
| Other tangible fixed assets | 26 | - | €10,290 | +€10,290 | |
| Financial fixed assets | 28 | €340,000 | €340,000 | = | 0.0% |
| Current assets | 29/58 | €35,881 | €32,672 | -€3,209 | -8.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €35,271 | €27,393 | -€7,878 | -22.3% |
| Trade receivables | 40 | €35,226 | €27,393 | -€7,834 | -22.2% |
| Other amounts receivable | 41 | €44 | - | -€44 | |
| Cash at bank and in hand | 54/58 | €611 | €5,208 | +€4,597 | +753% |
| Deferred charges and accrued income | 490/1 | €0 | €72 | +€72 | |
| Total equity and liabilities | 10/49 | €387,551 | €382,962 | -€4,589 | -1.2% |
| Equity | 10/15 | €95,057 | €130,086 | +€35,029 | +36.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,057 | €115,086 | +€35,029 | +43.8% |
| Amounts payable | 17/49 | €292,494 | €252,876 | -€39,618 | -13.5% |
| Amounts payable after more than one year | 17 | €42,338 | - | -€42,338 | |
| Financial debts | 170/4 | €42,338 | - | -€42,338 | |
| Amounts payable within one year | 42/48 | €250,156 | €252,876 | +€2,720 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €56,089 | €48,824 | -€7,265 | -13.0% |
| Trade debts | 44 | €4,054 | €3,005 | -€1,048 | -25.9% |
| Suppliers | 440/4 | €4,054 | €3,005 | -€1,048 | -25.9% |
| Advances received on contracts in progress | 46 | €1,992 | - | -€1,992 | |
| Taxes, remuneration and social security | 45 | €15,224 | €20,760 | +€5,536 | +36.4% |
| Taxes | 450/3 | €14,555 | €20,760 | +€6,206 | +42.6% |
| Remuneration and social security | 454/9 | €670 | - | -€670 | |
| Other amounts payable | 47/48 | €172,797 | €180,287 | +€7,490 | +4.3% |
| Remuneration, social security and pensions | 62 | €19,787 | €398 | -€19,389 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,296 | €1,380 | +€84 | +6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €68,391 | +€68,391 | |
| Other operating charges | 640/8 | €719 | €2,123 | +€1,404 | +195% |
| Gross operating margin | 9900 | €75,629 | €119,905 | +€44,276 | +58.5% |
| Operating profit (loss) | 9901 | €53,826 | €47,613 | -€6,214 | -11.5% |
| Financial income | 75/76B | €52 | €124 | +€73 | +141% |
| Recurring financial income | 75 | €52 | €124 | +€73 | +141% |
| Financial charges | 65/66B | €5,340 | €2,789 | -€2,551 | -47.8% |
| Recurring financial charges | 65 | €5,340 | €2,789 | -€2,551 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €48,538 | €44,948 | -€3,590 | -7.4% |
| Income taxes | 67/77 | €10,593 | €9,919 | -€674 | -6.4% |
| Profit (loss) for the period | 9904 | €37,945 | €35,029 | -€2,916 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,945 | €35,029 | -€2,916 | -7.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.