Luc VAN MALDEREN: 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.
Luc VAN MALDEREN
Largest movements
- Receivables within one year +€6,597
up €6,597 (+220%), from €2,996 to €9,593
of which Trade receivables: +€7,916
- Cash +€660
up €660 (+10.9%), from €6,085 to €6,745
mainly Trade debts (+€6,108) and Other debts (+€4,021)
- Deferred charges and accrued income +€250
new in 2025: €250
- Trade debts +€6,108
up €6,108 (+7,636%), from €80 to €6,188
- Other debts +€4,021
new in 2025: €4,021
- Profit (loss) carried forward -€2,668
new in 2025: -€2,668
- Gross operating margin -€6,510
down €6,510, from €5,380 to -€1,130
- Taxes -€1,208
down €1,208 (-90.2%), from €1,340 to €132
- Financial charges +€923
new in 2025: €923
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 | €9,081 | €16,588 | +€7,508 | +82.7% |
| Current assets | 29/58 | €9,081 | €16,588 | +€7,508 | +82.7% |
| Amounts receivable within one year | 40/41 | €2,996 | €9,593 | +€6,597 | +220% |
| Trade receivables | 40 | €1,547 | €9,462 | +€7,916 | +512% |
| Other amounts receivable | 41 | €1,449 | €131 | -€1,318 | -91.0% |
| Cash at bank and in hand | 54/58 | €6,085 | €6,745 | +€660 | +10.9% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €9,081 | €16,588 | +€7,508 | +82.7% |
| Equity | 10/15 | €6,574 | €3,906 | -€2,668 | -40.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €3,574 | €3,574 | = | 0.0% |
| Distributable reserves | 133 | €3,574 | €3,574 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,668 | -€2,668 | |
| Amounts payable | 17/49 | €2,507 | €12,682 | +€10,175 | +406% |
| Amounts payable within one year | 42/48 | €2,507 | €12,682 | +€10,175 | +406% |
| Trade debts | 44 | €80 | €6,188 | +€6,108 | +7,636% |
| Suppliers | 440/4 | €80 | €6,188 | +€6,108 | +7,636% |
| Taxes, remuneration and social security | 45 | €2,427 | €2,472 | +€45 | +1.9% |
| Taxes | 450/3 | €2,427 | €2,472 | +€45 | +1.9% |
| Other amounts payable | 47/48 | - | €4,021 | +€4,021 | |
| Other operating charges | 640/8 | €504 | €483 | -€22 | -4.3% |
| Gross operating margin | 9900 | €5,380 | -€1,130 | -€6,510 | |
| Operating profit (loss) | 9901 | €4,876 | -€1,613 | -€6,488 | |
| Financial income | 75/76B | €38 | - | -€38 | |
| Recurring financial income | 75 | €38 | - | -€38 | |
| Financial charges | 65/66B | - | €923 | +€923 | |
| Recurring financial charges | 65 | - | €923 | +€923 | |
| Profit (loss) for the period before taxes | 9903 | €4,914 | -€2,536 | -€7,449 | |
| Income taxes | 67/77 | €1,340 | €132 | -€1,208 | -90.2% |
| Profit (loss) for the period | 9904 | €3,574 | -€2,668 | -€6,241 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,574 | -€2,668 | -€6,241 |
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 30 October 2026 via checked.be.