MAAL TWEE: 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.
MAAL TWEE
Largest movements
- Current investments -€49,018
down €49,018 (-98.0%), from €50,000 to €982
- Cash -€20,607
down €20,607 (-39.4%), from €52,275 to €31,669
mainly Contributions, distributions and other (-€117,486) and Receivables within one year (-€15,246)
- Receivables within one year +€15,246
up €15,246, from €0 to €15,246
of which Trade receivables: +€15,246
- Tangible fixed assets -€2,118
down €2,118 (-28.1%), from €7,525 to €5,406
- Reserves -€86,203
down €86,203 (-100%), from €86,203 to €0
- Other debts +€32,202
new in 2025: €32,202
- Tax, wage and social debts -€3,826
down €3,826 (-21.2%), from €18,070 to €14,243
of which Taxes: -€5,357
- Trade debts +€1,359
up €1,359 (+115%), from €1,186 to €2,545
- Financial income -€1,363
down €1,363 (-79.2%), from €1,721 to €358
- Other operating charges +€1,123
up €1,123 (+82.5%), from €1,361 to €2,485
- Financial charges +€610
up €610 (+68.7%), from €887 to €1,497
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 | €110,459 | €53,990 | -€56,469 | -51.1% |
| Fixed assets | 21/28 | €7,525 | €5,406 | -€2,118 | -28.1% |
| Tangible fixed assets | 22/27 | €7,525 | €5,406 | -€2,118 | -28.1% |
| Plant, machinery and equipment | 23 | €2,213 | €1,218 | -€995 | -45.0% |
| Furniture and vehicles | 24 | €824 | €330 | -€493 | -59.9% |
| Other tangible fixed assets | 26 | €4,488 | €3,858 | -€630 | -14.0% |
| Current assets | 29/58 | €102,934 | €48,583 | -€54,351 | -52.8% |
| Amounts receivable within one year | 40/41 | €0 | €15,246 | +€15,246 | |
| Trade receivables | 40 | €0 | €15,246 | +€15,246 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €50,000 | €982 | -€49,018 | -98.0% |
| Cash at bank and in hand | 54/58 | €52,275 | €31,669 | -€20,607 | -39.4% |
| Deferred charges and accrued income | 490/1 | €659 | €686 | +€27 | +4.2% |
| Total equity and liabilities | 10/49 | €110,459 | €53,990 | -€56,469 | -51.1% |
| Equity | 10/15 | €91,203 | €5,000 | -€86,203 | -94.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €86,203 | €0 | -€86,203 | -100% |
| Distributable reserves | 133 | €86,203 | €0 | -€86,203 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €19,256 | €48,990 | +€29,734 | +154% |
| Amounts payable within one year | 42/48 | €19,256 | €48,990 | +€29,734 | +154% |
| Trade debts | 44 | €1,186 | €2,545 | +€1,359 | +115% |
| Suppliers | 440/4 | €1,186 | €2,545 | +€1,359 | +115% |
| Taxes, remuneration and social security | 45 | €18,070 | €14,243 | -€3,826 | -21.2% |
| Taxes | 450/3 | €17,590 | €12,232 | -€5,357 | -30.5% |
| Remuneration and social security | 454/9 | €480 | €2,011 | +€1,531 | +319% |
| Other amounts payable | 47/48 | - | €32,202 | +€32,202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,661 | €2,118 | +€458 | +27.6% |
| Other operating charges | 640/8 | €1,361 | €2,485 | +€1,123 | +82.5% |
| Gross operating margin | 9900 | €45,798 | €45,920 | +€123 | +0.3% |
| Operating profit (loss) | 9901 | €42,776 | €41,317 | -€1,458 | -3.4% |
| Financial income | 75/76B | €1,721 | €358 | -€1,363 | -79.2% |
| Recurring financial income | 75 | €1,721 | €358 | -€1,363 | -79.2% |
| Financial charges | 65/66B | €887 | €1,497 | +€610 | +68.7% |
| Recurring financial charges | 65 | €887 | €1,497 | +€610 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | €43,609 | €40,178 | -€3,431 | -7.9% |
| Income taxes | 67/77 | €9,349 | €8,896 | -€453 | -4.8% |
| Profit (loss) for the period | 9904 | €34,260 | €31,283 | -€2,978 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,260 | €31,283 | -€2,978 | -8.7% |
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 14 October 2026 via checked.be.