A. Maldague: 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.
A. Maldague
Largest movements
- Cash +€12,505
up €12,505 (+625%), from €2,000 to €14,505
mainly Net result for the year (+€7,450) and Receivables within one year (+€3,468)
- Receivables within one year -€3,468
down €3,468 (-16.3%), from €21,261 to €17,792
of which Other amounts receivable: -€9,230
- Deferred charges and accrued income +€889
new in 2025: €889
- Profit (loss) carried forward +€7,656
up €7,656 (+45.9%), from €16,679 to €24,335
- Tax, wage and social debts +€2,424
up €2,424 (+55.6%), from €4,362 to €6,786
- Gross operating margin -€11,403
down €11,403 (-53.7%), from €21,236 to €9,833
- Taxes -€2,263
down €2,263 (-51.9%), from €4,362 to €2,099
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 | €23,261 | €33,187 | +€9,926 | +42.7% |
| Current assets | 29/58 | €23,261 | €33,187 | +€9,926 | +42.7% |
| Amounts receivable within one year | 40/41 | €21,261 | €17,792 | -€3,468 | -16.3% |
| Trade receivables | 40 | - | €5,762 | +€5,762 | |
| Other amounts receivable | 41 | €21,261 | €12,030 | -€9,230 | -43.4% |
| Cash at bank and in hand | 54/58 | €2,000 | €14,505 | +€12,505 | +625% |
| Deferred charges and accrued income | 490/1 | - | €889 | +€889 | |
| Total equity and liabilities | 10/49 | €23,261 | €33,187 | +€9,926 | +42.7% |
| Equity | 10/15 | €18,679 | €26,335 | +€7,656 | +41.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,679 | €24,335 | +€7,656 | +45.9% |
| Amounts payable | 17/49 | €4,581 | €6,852 | +€2,270 | +49.5% |
| Amounts payable within one year | 42/48 | €4,569 | €6,852 | +€2,283 | +50.0% |
| Trade debts | 44 | €207 | €65 | -€141 | -68.4% |
| Suppliers | 440/4 | €207 | €65 | -€141 | -68.4% |
| Taxes, remuneration and social security | 45 | €4,362 | €6,786 | +€2,424 | +55.6% |
| Taxes | 450/3 | €4,362 | €6,786 | +€2,424 | +55.6% |
| Accrued charges and deferred income | 492/3 | €13 | - | -€13 | |
| Other operating charges | 640/8 | €195 | €285 | +€90 | +46.0% |
| Gross operating margin | 9900 | €21,236 | €9,833 | -€11,403 | -53.7% |
| Operating profit (loss) | 9901 | €21,041 | €9,549 | -€11,493 | -54.6% |
| Profit (loss) for the period before taxes | 9903 | €21,041 | €9,549 | -€11,493 | -54.6% |
| Income taxes | 67/77 | €4,362 | €2,099 | -€2,263 | -51.9% |
| Profit (loss) for the period | 9904 | €16,679 | €7,450 | -€9,230 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,679 | €7,450 | -€9,230 | -55.3% |
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 14 October 2026 via checked.be.