MALBAJU: 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.
MALBAJU
Largest movements
- Cash +€5,676
up €5,676 (+18.9%), from €30,055 to €35,731
mainly Net result for the year (+€5,449) and Trade debts (+€2,472)
- Reserves +€5,449
up €5,449 (+8.0%), from €68,127 to €73,576
- Trade debts +€2,472
up €2,472 (+165.9%), from €1,490 to €3,962
- Other debts -€2,134
down €2,134 (-23.1%), from €9,232 to €7,098
- Gross operating margin +€2,456
up €2,456 (+14.0%), from €17,565 to €20,021
- Taxes +€513
up €513 (+25.5%), from €2,011 to €2,524
- Other operating charges -€255
down €255 (-5.6%), from €4,570 to €4,315
- Financial charges +€252
up €252 (+4.7%), from €5,344 to €5,595
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 | €205,350 | €209,216 | +€3,866 | +1.9% |
| Fixed assets | 21/28 | €174,389 | €172,671 | -€1,718 | -1.0% |
| Tangible fixed assets | 22/27 | €174,389 | €172,671 | -€1,718 | -1.0% |
| Land and buildings | 22 | €173,739 | €172,060 | -€1,679 | -1.0% |
| Furniture and vehicles | 24 | €650 | €612 | -€39 | -5.9% |
| Current assets | 29/58 | €30,961 | €36,545 | +€5,584 | +18.0% |
| Amounts receivable within one year | 40/41 | €905 | €814 | -€92 | -10.1% |
| Trade receivables | 40 | €905 | €814 | -€92 | -10.1% |
| Cash at bank and in hand | 54/58 | €30,055 | €35,731 | +€5,676 | +18.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €205,350 | €209,216 | +€3,866 | +1.9% |
| Equity | 10/15 | €175,255 | €180,705 | +€5,449 | +3.1% |
| Contributions | 10/11 | €107,129 | €107,129 | = | 0.0% |
| Reserves | 13 | €68,127 | €73,576 | +€5,449 | +8.0% |
| Distributable reserves | 133 | €68,127 | €73,576 | +€5,449 | +8.0% |
| Provisions and deferred taxes | 16 | €18,205 | €16,935 | -€1,269 | -7.0% |
| Provisions for liabilities and charges | 160/5 | €18,205 | €16,935 | -€1,269 | -7.0% |
| Environmental obligations | 163 | €18,205 | €16,935 | -€1,269 | -7.0% |
| Amounts payable | 17/49 | €11,890 | €11,576 | -€314 | -2.6% |
| Amounts payable within one year | 42/48 | €11,890 | €11,576 | -€314 | -2.6% |
| Trade debts | 44 | €1,490 | €3,962 | +€2,472 | +165.9% |
| Suppliers | 440/4 | €1,490 | €3,962 | +€2,472 | +165.9% |
| Taxes, remuneration and social security | 45 | €1,168 | €516 | -€652 | -55.8% |
| Taxes | 450/3 | €1,168 | €516 | -€652 | -55.8% |
| Other amounts payable | 47/48 | €9,232 | €7,098 | -€2,134 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,161 | €2,139 | -€22 | -1.0% |
| Other operating charges | 640/8 | €4,570 | €4,315 | -€255 | -5.6% |
| Gross operating margin | 9900 | €17,565 | €20,021 | +€2,456 | +14.0% |
| Operating profit (loss) | 9901 | €10,835 | €13,568 | +€2,734 | +25.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,344 | €5,595 | +€252 | +4.7% |
| Recurring financial charges | 65 | €5,344 | €5,595 | +€252 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €5,491 | €7,973 | +€2,482 | +45.2% |
| Income taxes | 67/77 | €2,011 | €2,524 | +€513 | +25.5% |
| Profit (loss) for the period | 9904 | €3,480 | €5,449 | +€1,969 | +56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,480 | €5,449 | +€1,969 | +56.6% |
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 12 October 2026 via checked.be.