MA-LY: 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.
MA-LY
Largest movements
- Tangible fixed assets -€10,751
down €10,751 (-24.5%), from €43,931 to €33,180
of which Other tangible fixed assets: -€6,689
- Cash -€5,423
down €5,423 (-60.2%), from €9,007 to €3,584
mainly Current portion of long-term debt (-€4,821) and Accrued charges and deferred income (-€3,622)
- Receivables within one year +€3,603
up €3,603 (+36.9%), from €9,772 to €13,376
- Current portion of long-term debt -€4,821
down €4,821 (-58.7%), from €8,207 to €3,385
- Accrued charges and deferred income -€3,622
down €3,622 (-100.0%), from €3,622 to €0
- Debts after one year -€3,385
down €3,385 (-66.0%), from €5,132 to €1,747
- Reserves -€2,823
down €2,823 (-7.8%), from €36,319 to €33,496
- Tax, wage and social debts +€2,316
up €2,316 (+99.0%), from €2,340 to €4,656
of which Taxes: +€2,316
- Gross operating margin -€22,138
down €22,138 (-55.1%), from €40,201 to €18,063
- Staff costs -€6,898
down €6,898 (-76.7%), from €8,990 to €2,092
- Depreciation -€3,836
down €3,836 (-26.3%), from €14,587 to €10,751
- Taxes -€2,440
down €2,440 (-79.1%), from €3,085 to €645
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.
Cash bridge derived
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 | €75,863 | €63,779 | -€12,084 | -15.9% |
| Fixed assets | 21/28 | €55,318 | €44,566 | -€10,751 | -19.4% |
| Tangible fixed assets | 22/27 | €43,931 | €33,180 | -€10,751 | -24.5% |
| Plant, machinery and equipment | 23 | €3,948 | €2,418 | -€1,530 | -38.8% |
| Furniture and vehicles | 24 | €4,467 | €1,935 | -€2,532 | -56.7% |
| Other tangible fixed assets | 26 | €35,516 | €28,827 | -€6,689 | -18.8% |
| Financial fixed assets | 28 | €11,387 | €11,387 | = | 0.0% |
| Current assets | 29/58 | €20,545 | €19,213 | -€1,333 | -6.5% |
| Stocks and contracts in progress | 3 | €1,250 | €1,750 | +€500 | +40.0% |
| Stocks | 30/36 | €1,250 | €1,750 | +€500 | +40.0% |
| Amounts receivable within one year | 40/41 | €9,772 | €13,376 | +€3,603 | +36.9% |
| Other amounts receivable | 41 | €9,772 | €13,376 | +€3,603 | +36.9% |
| Cash at bank and in hand | 54/58 | €9,007 | €3,584 | -€5,423 | -60.2% |
| Deferred charges and accrued income | 490/1 | €516 | €503 | -€13 | -2.5% |
| Total equity and liabilities | 10/49 | €75,863 | €63,779 | -€12,084 | -15.9% |
| Equity | 10/15 | €42,519 | €39,696 | -€2,823 | -6.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,319 | €33,496 | -€2,823 | -7.8% |
| Distributable reserves | 133 | €36,319 | €33,496 | -€2,823 | -7.8% |
| Amounts payable | 17/49 | €33,344 | €24,083 | -€9,261 | -27.8% |
| Amounts payable after more than one year | 17 | €5,132 | €1,747 | -€3,385 | -66.0% |
| Financial debts | 170/4 | €5,132 | €1,747 | -€3,385 | -66.0% |
| Amounts payable within one year | 42/48 | €24,590 | €22,337 | -€2,254 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €8,207 | €3,385 | -€4,821 | -58.7% |
| Financial debts | 43 | €5,218 | €5,000 | -€218 | -4.2% |
| Credit institutions | 430/8 | €5,218 | €5,000 | -€218 | -4.2% |
| Trade debts | 44 | €8,825 | €9,295 | +€470 | +5.3% |
| Suppliers | 440/4 | €8,825 | €9,295 | +€470 | +5.3% |
| Taxes, remuneration and social security | 45 | €2,340 | €4,656 | +€2,316 | +99.0% |
| Taxes | 450/3 | €2,340 | €4,656 | +€2,316 | +99.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,622 | €0 | -€3,622 | -100.0% |
| Remuneration, social security and pensions | 62 | €8,990 | €2,092 | -€6,898 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,587 | €10,751 | -€3,836 | -26.3% |
| Other operating charges | 640/8 | €4,696 | €4,449 | -€247 | -5.3% |
| Gross operating margin | 9900 | €40,201 | €18,063 | -€22,138 | -55.1% |
| Operating profit (loss) | 9901 | €11,928 | €771 | -€11,158 | -93.5% |
| Financial income | 75/76B | €5 | €10 | +€5 | +119.9% |
| Recurring financial income | 75 | €5 | €10 | +€5 | +119.9% |
| Financial charges | 65/66B | €2,747 | €2,959 | +€212 | +7.7% |
| Recurring financial charges | 65 | €2,747 | €2,959 | +€212 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €9,186 | -€2,178 | -€11,364 | |
| Income taxes | 67/77 | €3,085 | €645 | -€2,440 | -79.1% |
| Profit (loss) for the period | 9904 | €6,101 | -€2,823 | -€8,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,101 | -€2,823 | -€8,924 |
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 10 October 2026 via checked.be.