MADE BY 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.
MADE BY MALIN
Largest movements
- Cash -€7,364
down €7,364 (-94.3%), from €7,807 to €443
mainly Net result for the year (-€21,962) and Trade debts (-€13,913)
- Receivables within one year -€5,088
down €5,088 (-71.3%), from €7,139 to €2,051
of which Trade receivables: -€4,022
- Deferred charges and accrued income -€1,701
down €1,701 (-90.4%), from €1,881 to €180
- Profit (loss) carried forward -€21,962
down €21,962 (-14.9%), from -€146,944 to -€168,906
- Other debts +€18,999
up €18,999 (+14.4%), from €131,798 to €150,797
- Trade debts -€13,913
down €13,913 (-79.7%), from €17,446 to €3,533
- Tax, wage and social debts +€3,352
up €3,352 (+44.6%), from €7,518 to €10,870
of which Remuneration and social security: +€5,051
- Accrued charges and deferred income -€720
no longer reported in 2025 (was €720)
- Staff costs +€8,022
up €8,022 (+45.5%), from €17,614 to €25,636
- Gross operating margin -€183
down €183 (-3.4%), from €5,362 to €5,179
- Depreciation +€109
up €109 (+12.7%), from €858 to €967
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 | €18,598 | €4,354 | -€14,244 | -76.6% |
| Fixed assets | 21/28 | €1,770 | €1,679 | -€91 | -5.1% |
| Tangible fixed assets | 22/27 | €1,544 | €1,453 | -€91 | -5.9% |
| Furniture and vehicles | 24 | €1,544 | €1,453 | -€91 | -5.9% |
| Financial fixed assets | 28 | €226 | €226 | = | 0.0% |
| Current assets | 29/58 | €16,828 | €2,674 | -€14,153 | -84.1% |
| Amounts receivable within one year | 40/41 | €7,139 | €2,051 | -€5,088 | -71.3% |
| Trade receivables | 40 | €5,962 | €1,940 | -€4,022 | -67.5% |
| Other amounts receivable | 41 | €1,178 | €111 | -€1,067 | -90.6% |
| Cash at bank and in hand | 54/58 | €7,807 | €443 | -€7,364 | -94.3% |
| Deferred charges and accrued income | 490/1 | €1,881 | €180 | -€1,701 | -90.4% |
| Total equity and liabilities | 10/49 | €18,598 | €4,354 | -€14,244 | -76.6% |
| Equity | 10/15 | -€138,884 | -€160,846 | -€21,962 | -15.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€146,944 | -€168,906 | -€21,962 | -14.9% |
| Amounts payable | 17/49 | €157,482 | €165,200 | +€7,718 | +4.9% |
| Amounts payable within one year | 42/48 | €156,762 | €165,200 | +€8,438 | +5.4% |
| Trade debts | 44 | €17,446 | €3,533 | -€13,913 | -79.7% |
| Suppliers | 440/4 | €17,446 | €3,533 | -€13,913 | -79.7% |
| Taxes, remuneration and social security | 45 | €7,518 | €10,870 | +€3,352 | +44.6% |
| Taxes | 450/3 | €1,699 | - | -€1,699 | |
| Remuneration and social security | 454/9 | €5,819 | €10,870 | +€5,051 | +86.8% |
| Other amounts payable | 47/48 | €131,798 | €150,797 | +€18,999 | +14.4% |
| Accrued charges and deferred income | 492/3 | €720 | - | -€720 | |
| Non-recurring operating income | 76A | €4,320 | €90 | -€4,230 | -97.9% |
| Remuneration, social security and pensions | 62 | €17,614 | €25,636 | +€8,022 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €858 | €967 | +€109 | +12.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €5,362 | €5,179 | -€183 | -3.4% |
| Operating profit (loss) | 9901 | -€13,498 | -€21,824 | -€8,326 | -61.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €112 | €138 | +€26 | +23.4% |
| Recurring financial charges | 65 | €112 | €138 | +€26 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,609 | -€21,962 | -€8,353 | -61.4% |
| Profit (loss) for the period | 9904 | -€13,609 | -€21,962 | -€8,353 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,609 | -€21,962 | -€8,353 | -61.4% |
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 29 October 2026 via checked.be.