Charles 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.
Charles MALDAGUE
Largest movements
- Cash +€27,183
up €27,183 (+157%), from €17,359 to €44,543
mainly Net result for the year (+€51,123) and Receivables within one year (+€15,191)
- Receivables within one year -€15,191
down €15,191 (-26.4%), from €57,449 to €42,258
of which Trade receivables: -€13,887
- Tangible fixed assets -€13,819
down €13,819 (-50.0%), from €27,638 to €13,819
- Other debts -€13,825
down €13,825 (-29.6%), from €46,778 to €32,952
- Tax, wage and social debts +€10,275
up €10,275 (+199%), from €5,168 to €15,443
- Trade debts +€2,489
up €2,489 (+724%), from €344 to €2,833
- Gross operating margin +€5,842
up €5,842 (+8.9%), from €65,498 to €71,340
- Taxes +€1,014
up €1,014 (+28.8%), from €3,518 to €4,532
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 | €132,282 | €130,421 | -€1,861 | -1.4% |
| Fixed assets | 21/28 | €54,538 | €40,719 | -€13,819 | -25.3% |
| Tangible fixed assets | 22/27 | €27,638 | €13,819 | -€13,819 | -50.0% |
| Furniture and vehicles | 24 | €27,638 | €13,819 | -€13,819 | -50.0% |
| Financial fixed assets | 28 | €26,900 | €26,900 | = | 0.0% |
| Current assets | 29/58 | €77,744 | €89,702 | +€11,958 | +15.4% |
| Amounts receivable within one year | 40/41 | €57,449 | €42,258 | -€15,191 | -26.4% |
| Trade receivables | 40 | €56,145 | €42,258 | -€13,887 | -24.7% |
| Other amounts receivable | 41 | €1,304 | - | -€1,304 | |
| Cash at bank and in hand | 54/58 | €17,359 | €44,543 | +€27,183 | +157% |
| Deferred charges and accrued income | 490/1 | €2,936 | €2,902 | -€34 | -1.2% |
| Total equity and liabilities | 10/49 | €132,282 | €130,421 | -€1,861 | -1.4% |
| Equity | 10/15 | €78,869 | €78,992 | +€123 | +0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,609 | €64,732 | +€123 | +0.2% |
| Amounts payable | 17/49 | €53,413 | €51,429 | -€1,984 | -3.7% |
| Amounts payable within one year | 42/48 | €53,116 | €51,229 | -€1,887 | -3.6% |
| Trade debts | 44 | €344 | €2,833 | +€2,489 | +724% |
| Suppliers | 440/4 | €344 | €2,833 | +€2,489 | +724% |
| Advances received on contracts in progress | 46 | €826 | - | -€826 | |
| Taxes, remuneration and social security | 45 | €5,168 | €15,443 | +€10,275 | +199% |
| Taxes | 450/3 | €5,168 | €15,443 | +€10,275 | +199% |
| Other amounts payable | 47/48 | €46,778 | €32,952 | -€13,825 | -29.6% |
| Accrued charges and deferred income | 492/3 | €297 | €200 | -€97 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,819 | €13,819 | = | 0.0% |
| Other operating charges | 640/8 | €1,593 | €1,584 | -€9 | -0.5% |
| Gross operating margin | 9900 | €65,498 | €71,340 | +€5,842 | +8.9% |
| Operating profit (loss) | 9901 | €50,086 | €55,937 | +€5,850 | +11.7% |
| Financial charges | 65/66B | €293 | €282 | -€11 | -3.9% |
| Recurring financial charges | 65 | €293 | €282 | -€11 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €49,793 | €55,655 | +€5,862 | +11.8% |
| Income taxes | 67/77 | €3,518 | €4,532 | +€1,014 | +28.8% |
| Profit (loss) for the period | 9904 | €46,276 | €51,123 | +€4,847 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,276 | €51,123 | +€4,847 | +10.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.