MA-LOU: what changed
MA-LOU
Largest movements
- Cash +€32,482
up €32,482 (+207%), from €15,667 to €48,150
mainly Other debts (+€294,695) and Net result for the year (+€29,771)
- Tangible fixed assets +€27,096
up €27,096 (+84.7%), from €31,984 to €59,080
of which Furniture and vehicles: +€30,486
- Other debts +€294,695
up €294,695 (+1,017%), from €28,980 to €323,675
- Debts after one year -€265,556
down €265,556 (-79.7%), from €333,342 to €67,785
- Reserves +€23,771
up €23,771 (+390%), from €6,094 to €29,864
- Provisions -€9,118
down €9,118 (-3.0%), from €300,000 to €290,882
- Tax, wage and social debts +€9,077
up €9,077 (+120%), from €7,578 to €16,655
of which Taxes: +€9,755
- Gross operating margin +€45,012
up €45,012 (+479%), from €9,395 to €54,407
- Taxes +€9,302
up €9,302 (+1,100%), from €845 to €10,148
- Depreciation +€7,031
up €7,031 (+366%), from €1,920 to €8,951
- Financial charges +€5,303
up €5,303 (+19,692%), from €27 to €5,330
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 | €680,993 | €740,571 | +€59,578 | +8.7% |
| Fixed assets | 21/28 | €665,326 | €692,422 | +€27,096 | +4.1% |
| Tangible fixed assets | 22/27 | €31,984 | €59,080 | +€27,096 | +84.7% |
| Furniture and vehicles | 24 | - | €30,486 | +€30,486 | |
| Other tangible fixed assets | 26 | €31,984 | €28,594 | -€3,390 | -10.6% |
| Financial fixed assets | 28 | €633,342 | €633,342 | = | 0.0% |
| Current assets | 29/58 | €15,667 | €48,150 | +€32,482 | +207% |
| Cash at bank and in hand | 54/58 | €15,667 | €48,150 | +€32,482 | +207% |
| Total equity and liabilities | 10/49 | €680,993 | €740,571 | +€59,578 | +8.7% |
| Equity | 10/15 | €11,094 | €34,864 | +€23,771 | +214% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,094 | €29,864 | +€23,771 | +390% |
| Distributable reserves | 133 | €6,094 | €29,864 | +€23,771 | +390% |
| Provisions and deferred taxes | 16 | €300,000 | €290,882 | -€9,118 | -3.0% |
| Provisions for liabilities and charges | 160/5 | €300,000 | €290,882 | -€9,118 | -3.0% |
| Environmental obligations | 163 | €300,000 | €290,882 | -€9,118 | -3.0% |
| Amounts payable | 17/49 | €369,899 | €414,825 | +€44,926 | +12.1% |
| Amounts payable after more than one year | 17 | €333,342 | €67,785 | -€265,556 | -79.7% |
| Financial debts | 170/4 | €333,342 | €67,785 | -€265,556 | -79.7% |
| Amounts payable within one year | 42/48 | €36,558 | €347,040 | +€310,482 | +849% |
| Current portion of amounts payable after more than one year | 42 | - | €6,445 | +€6,445 | |
| Trade debts | 44 | - | €265 | +€265 | |
| Suppliers | 440/4 | - | €265 | +€265 | |
| Taxes, remuneration and social security | 45 | €7,578 | €16,655 | +€9,077 | +120% |
| Taxes | 450/3 | €4,578 | €14,333 | +€9,755 | +213% |
| Remuneration and social security | 454/9 | €3,000 | €2,322 | -€678 | -22.6% |
| Other amounts payable | 47/48 | €28,980 | €323,675 | +€294,695 | +1,017% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,920 | €8,951 | +€7,031 | +366% |
| Other operating charges | 640/8 | €509 | €207 | -€301 | -59.2% |
| Gross operating margin | 9900 | €9,395 | €54,407 | +€45,012 | +479% |
| Operating profit (loss) | 9901 | €6,966 | €45,248 | +€38,282 | +550% |
| Financial charges | 65/66B | €27 | €5,330 | +€5,303 | +19,692% |
| Recurring financial charges | 65 | €27 | €5,330 | +€5,303 | +19,692% |
| Profit (loss) for the period before taxes | 9903 | €6,939 | €39,918 | +€32,979 | +475% |
| Income taxes | 67/77 | €845 | €10,148 | +€9,302 | +1,100% |
| Profit (loss) for the period | 9904 | €6,094 | €29,771 | +€23,677 | +389% |
| Profit (loss) for the period to be appropriated | 9905 | €6,094 | €29,771 | +€23,677 | +389% |
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 5 November 2026 via checked.be.