CHINEZ MALIN: 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.
CHINEZ MALIN
Largest movements
- Tangible fixed assets -€9,245
down €9,245 (-15.1%), from €61,416 to €52,171
of which Plant, machinery and equipment: -€8,545
- Receivables within one year -€5,878
down €5,878 (-76.3%), from €7,701 to €1,823
- Cash -€4,244
down €4,244 (-14.4%), from €29,459 to €25,215
mainly Net result for the year (-€23,621) and Stocks and contracts (-€3,371)
- Stocks and contracts +€3,371
up €3,371 (+26.9%), from €12,518 to €15,889
- Profit (loss) carried forward -€23,621
new in 2025: -€23,621
- Other debts +€9,722
up €9,722 (+16.7%), from €58,052 to €67,775
- Trade debts -€3,361
down €3,361 (-51.0%), from €6,594 to €3,233
- Staff costs +€12,022
up €12,022 (+122%), from €9,888 to €21,910
- Gross operating margin -€8,282
down €8,282 (-38.6%), from €21,474 to €13,192
- Depreciation +€4,786
up €4,786 (+96.0%), from €4,985 to €9,771
- Financial income -€862
down €862 (-97.8%), from €882 to €20
- Other operating charges -€844
down €844 (-63.5%), from €1,329 to €485
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 | €117,656 | €101,196 | -€16,460 | -14.0% |
| Formation expenses | 20 | €2,315 | €1,788 | -€527 | -22.8% |
| Fixed assets | 21/28 | €65,016 | €55,771 | -€9,245 | -14.2% |
| Tangible fixed assets | 22/27 | €61,416 | €52,171 | -€9,245 | -15.1% |
| Plant, machinery and equipment | 23 | €58,079 | €49,534 | -€8,545 | -14.7% |
| Furniture and vehicles | 24 | €3,337 | €2,637 | -€700 | -21.0% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €50,325 | €43,637 | -€6,688 | -13.3% |
| Stocks and contracts in progress | 3 | €12,518 | €15,889 | +€3,371 | +26.9% |
| Stocks | 30/36 | €12,518 | €15,889 | +€3,371 | +26.9% |
| Amounts receivable within one year | 40/41 | €7,701 | €1,823 | -€5,878 | -76.3% |
| Trade receivables | 40 | €7,701 | €1,823 | -€5,878 | -76.3% |
| Cash at bank and in hand | 54/58 | €29,459 | €25,215 | -€4,244 | -14.4% |
| Deferred charges and accrued income | 490/1 | €647 | €709 | +€63 | +9.7% |
| Total equity and liabilities | 10/49 | €117,656 | €101,196 | -€16,460 | -14.0% |
| Equity | 10/15 | €47,173 | €23,553 | -€23,621 | -50.1% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €2,173 | €2,173 | = | 0.0% |
| Distributable reserves | 133 | €2,173 | €2,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€23,621 | -€23,621 | |
| Amounts payable | 17/49 | €70,482 | €77,643 | +€7,161 | +10.2% |
| Amounts payable within one year | 42/48 | €70,481 | €77,470 | +€6,989 | +9.9% |
| Trade debts | 44 | €6,594 | €3,233 | -€3,361 | -51.0% |
| Suppliers | 440/4 | €6,594 | €3,233 | -€3,361 | -51.0% |
| Taxes, remuneration and social security | 45 | €5,835 | €6,462 | +€628 | +10.8% |
| Taxes | 450/3 | €2,994 | €1,833 | -€1,162 | -38.8% |
| Remuneration and social security | 454/9 | €2,840 | €4,630 | +€1,789 | +63.0% |
| Other amounts payable | 47/48 | €58,052 | €67,775 | +€9,722 | +16.7% |
| Accrued charges and deferred income | 492/3 | €2 | €173 | +€172 | +10,673% |
| Remuneration, social security and pensions | 62 | €9,888 | €21,910 | +€12,022 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,985 | €9,771 | +€4,786 | +96.0% |
| Other operating charges | 640/8 | €1,329 | €485 | -€844 | -63.5% |
| Gross operating margin | 9900 | €21,474 | €13,192 | -€8,282 | -38.6% |
| Operating profit (loss) | 9901 | €5,271 | -€18,974 | -€24,245 | |
| Financial income | 75/76B | €882 | €20 | -€862 | -97.8% |
| Recurring financial income | 75 | €882 | €20 | -€862 | -97.8% |
| Financial charges | 65/66B | €3,978 | €4,660 | +€682 | +17.1% |
| Recurring financial charges | 65 | €3,978 | €4,660 | +€682 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €2,175 | -€23,615 | -€25,790 | |
| Income taxes | 67/77 | €2 | €6 | +€4 | +269% |
| Profit (loss) for the period | 9904 | €2,173 | -€23,621 | -€25,794 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,173 | -€23,621 | -€25,794 |
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 25 October 2026 via checked.be.