MAILLARD: 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.
MAILLARD
Largest movements
- Tangible fixed assets -€9,959
down €9,959 (-14.0%), from €70,963 to €61,004
of which Plant, machinery and equipment: -€6,742
- Cash +€9,122
up €9,122 (+20.2%), from €45,147 to €54,269
mainly Trade debts (+€24,102) and Depreciation (+€20,313)
- Deferred charges and accrued income -€3,469
down €3,469 (-46.1%), from €7,518 to €4,049
- Stocks and contracts +€1,998
up €1,998 (+14.3%), from €13,925 to €15,923
- Receivables within one year +€1,751
up €1,751 (+59.1%), from €2,964 to €4,716
of which Other amounts receivable: +€906
- Trade debts +€24,102
up €24,102 (+668%), from €3,610 to €27,713
- Debts after one year -€13,096
down €13,096 (-20.5%), from €63,810 to €50,714
- Other debts -€6,979
down €6,979 (-92.1%), from €7,574 to €596
- Profit (loss) carried forward -€5,294
new in 2025: -€5,294
- Gross operating margin -€34,123
down €34,123 (-19.3%), from €177,037 to €142,914
- Staff costs -€19,083
down €19,083 (-14.1%), from €135,205 to €116,122
- Other operating charges +€3,806
up €3,806 (+223%), from €1,708 to €5,513
- Financial charges -€2,251
down €2,251 (-28.9%), from €7,790 to €5,539
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 | €140,773 | €140,216 | -€557 | -0.4% |
| Fixed assets | 21/28 | €71,218 | €61,259 | -€9,959 | -14.0% |
| Tangible fixed assets | 22/27 | €70,963 | €61,004 | -€9,959 | -14.0% |
| Plant, machinery and equipment | 23 | €46,384 | €39,642 | -€6,742 | -14.5% |
| Furniture and vehicles | 24 | €18,312 | €14,737 | -€3,575 | -19.5% |
| Other tangible fixed assets | 26 | €6,267 | €6,626 | +€359 | +5.7% |
| Financial fixed assets | 28 | €255 | €255 | = | 0.0% |
| Current assets | 29/58 | €69,555 | €78,957 | +€9,402 | +13.5% |
| Stocks and contracts in progress | 3 | €13,925 | €15,923 | +€1,998 | +14.3% |
| Stocks | 30/36 | €13,925 | €15,923 | +€1,998 | +14.3% |
| Amounts receivable within one year | 40/41 | €2,964 | €4,716 | +€1,751 | +59.1% |
| Trade receivables | 40 | €2,019 | €2,864 | +€845 | +41.9% |
| Other amounts receivable | 41 | €946 | €1,852 | +€906 | +95.8% |
| Cash at bank and in hand | 54/58 | €45,147 | €54,269 | +€9,122 | +20.2% |
| Deferred charges and accrued income | 490/1 | €7,518 | €4,049 | -€3,469 | -46.1% |
| Total equity and liabilities | 10/49 | €140,773 | €140,216 | -€557 | -0.4% |
| Equity | 10/15 | €23,958 | €18,663 | -€5,294 | -22.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €8,958 | €8,958 | = | 0.0% |
| Distributable reserves | 133 | €8,958 | €8,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,294 | -€5,294 | |
| Amounts payable | 17/49 | €116,815 | €121,552 | +€4,737 | +4.1% |
| Amounts payable after more than one year | 17 | €63,810 | €50,714 | -€13,096 | -20.5% |
| Financial debts | 170/4 | €63,810 | €50,714 | -€13,096 | -20.5% |
| Amounts payable within one year | 42/48 | €52,920 | €70,504 | +€17,583 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €12,449 | €13,096 | +€648 | +5.2% |
| Financial debts | 43 | - | €160 | +€160 | |
| Credit institutions | 430/8 | - | €160 | +€160 | |
| Trade debts | 44 | €3,610 | €27,713 | +€24,102 | +668% |
| Suppliers | 440/4 | €3,610 | €27,713 | +€24,102 | +668% |
| Taxes, remuneration and social security | 45 | €29,287 | €28,939 | -€348 | -1.2% |
| Taxes | 450/3 | €15,953 | €11,649 | -€4,304 | -27.0% |
| Remuneration and social security | 454/9 | €13,334 | €17,290 | +€3,957 | +29.7% |
| Other amounts payable | 47/48 | €7,574 | €596 | -€6,979 | -92.1% |
| Accrued charges and deferred income | 492/3 | €85 | €335 | +€250 | +294% |
| Non-recurring operating income | 76A | €12,000 | €0 | -€12,000 | -100% |
| Remuneration, social security and pensions | 62 | €135,205 | €116,122 | -€19,083 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,591 | €20,313 | -€278 | -1.3% |
| Other operating charges | 640/8 | €1,708 | €5,513 | +€3,806 | +223% |
| Non-recurring operating charges | 66A | €545 | €0 | -€545 | -100% |
| Gross operating margin | 9900 | €177,037 | €142,914 | -€34,123 | -19.3% |
| Operating profit (loss) | 9901 | €18,989 | €965 | -€18,024 | -94.9% |
| Financial income | 75/76B | €33 | €3 | -€30 | -90.4% |
| Recurring financial income | 75 | €33 | €3 | -€30 | -90.4% |
| Financial charges | 65/66B | €7,790 | €5,539 | -€2,251 | -28.9% |
| Recurring financial charges | 65 | €7,790 | €5,539 | -€2,251 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €11,232 | -€4,571 | -€15,803 | |
| Income taxes | 67/77 | €2,274 | €724 | -€1,551 | -68.2% |
| Profit (loss) for the period | 9904 | €8,958 | -€5,294 | -€14,252 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,958 | -€5,294 | -€14,252 |
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 17 October 2026 via checked.be.