MALDOY: 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.
What changed
MALDOY
NACE 46.610, Wholesale trade
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€34,514
2025 · €62,139-€27,625
Equity
€3.9m
2025 · €3.8m+€34,514
Cash
€356,693
2025 · €326,564+€30,129
Balance sheet total
€6.4m
2025 · €6.3m+€142,781
Largest movements
Assets
- Stocks and contracts +€150,348
up €150,348 (+3.2%), from €4.7m to €4.8m
Equity and liabilities
- Other debts +€103,743
up €103,743 (+10.3%), from €1.0m to €1.1m
- Trade debts +€70,745
up €70,745 (+23.0%), from €307,019 to €377,764
Income statement
- Staff costs -€53,456
down €53,456 (-5.1%), from €1.1m to €999,856
- Write-downs +€52,345
up €52,345, from -€24,941 to €27,404
- Gross operating margin -€49,940
down €49,940 (-3.8%), from €1.3m to €1.3m
- Financial charges -€16,053
down €16,053 (-13.6%), from €118,116 to €102,062
From the 2025 result to the 2026 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.
Result 2025
€62,139
Gross operating margin
-€49,940
Staff costs
+€53,456
Depreciation
+€6,924
Write-downs
-€52,345
Other operating charges
-€3,796
Financial income
-€7,302
Financial charges
+€16,053
Taxes
+€9,324
Result 2026
€34,514
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€117,180
Investment
-€50,840
Financing
-€36,211
Cash 2025
€326,564
From operations (derived)
+€117,180
Net result for the year
+€34,514
Depreciation
+€81,367
Stocks and contracts
-€150,348
Receivables within one year
+€4,924
Deferred charges and accrued income
+€2,244
Trade debts
+€70,745
Tax, wage and social debts
-€37,659
Advances received
+€9,720
Other debts
+€103,743
Accrued charges and deferred income
-€2,070
Investment (derived)
-€50,840
Investment in fixed assets (net)
-€50,840
Financing
-€36,211
Debts after one year
+€21,209
Current portion of long-term debt
-€16,026
Short-term financial debts
-€41,394
Cash 2026
€356,693
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,257,172 | €6,399,952 | +€142,781 | +2.3% |
| Fixed assets | 21/28 | €371,945 | €341,417 | -€30,527 | -8.2% |
| Tangible fixed assets | 22/27 | €235,939 | €193,595 | -€42,344 | -17.9% |
| Land and buildings | 22 | €12,093 | €6,980 | -€5,113 | -42.3% |
| Plant, machinery and equipment | 23 | €101,561 | €94,037 | -€7,525 | -7.4% |
| Furniture and vehicles | 24 | €122,285 | €92,578 | -€29,706 | -24.3% |
| Financial fixed assets | 28 | €136,006 | €147,822 | +€11,817 | +8.7% |
| Current assets | 29/58 | €5,885,227 | €6,058,535 | +€173,308 | +2.9% |
| Stocks and contracts in progress | 3 | €4,697,742 | €4,848,090 | +€150,348 | +3.2% |
| Stocks | 30/36 | €4,697,742 | €4,848,090 | +€150,348 | +3.2% |
| Amounts receivable within one year | 40/41 | €818,802 | €813,877 | -€4,924 | -0.6% |
| Trade receivables | 40 | €753,776 | €676,388 | -€77,388 | -10.3% |
| Other amounts receivable | 41 | €65,026 | €137,490 | +€72,464 | +111.4% |
| Cash at bank and in hand | 54/58 | €326,564 | €356,693 | +€30,129 | +9.2% |
| Deferred charges and accrued income | 490/1 | €42,119 | €39,875 | -€2,244 | -5.3% |
| Total equity and liabilities | 10/49 | €6,257,172 | €6,399,952 | +€142,781 | +2.3% |
| Equity | 10/15 | €3,833,828 | €3,868,342 | +€34,514 | +0.9% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €3,747,066 | €3,781,580 | +€34,514 | +0.9% |
| Non-distributable reserves | 130/1 | €11,404 | €11,404 | = | 0.0% |
| Legal reserve | 130 | €11,404 | €11,404 | = | 0.0% |
| Distributable reserves | 133 | €3,735,661 | €3,770,175 | +€34,514 | +0.9% |
| Amounts payable | 17/49 | €2,423,343 | €2,531,610 | +€108,267 | +4.5% |
| Amounts payable after more than one year | 17 | €760,214 | €781,422 | +€21,209 | +2.8% |
| Financial debts | 170/4 | €760,214 | €781,422 | +€21,209 | +2.8% |
| Amounts payable within one year | 42/48 | €1,661,060 | €1,750,188 | +€89,128 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €29,245 | €13,218 | -€16,026 | -54.8% |
| Financial debts | 43 | €66,737 | €25,344 | -€41,394 | -62.0% |
| Credit institutions | 430/8 | €66,737 | €25,344 | -€41,394 | -62.0% |
| Trade debts | 44 | €307,019 | €377,764 | +€70,745 | +23.0% |
| Suppliers | 440/4 | €307,019 | €377,764 | +€70,745 | +23.0% |
| Advances received on contracts in progress | 46 | €8,900 | €18,620 | +€9,720 | +109.2% |
| Taxes, remuneration and social security | 45 | €239,757 | €202,098 | -€37,659 | -15.7% |
| Taxes | 450/3 | €59,673 | €76,523 | +€16,850 | +28.2% |
| Remuneration and social security | 454/9 | €180,084 | €125,575 | -€54,509 | -30.3% |
| Other amounts payable | 47/48 | €1,009,402 | €1,113,144 | +€103,743 | +10.3% |
| Accrued charges and deferred income | 492/3 | €2,070 | - | -€2,070 | |
| Remuneration, social security and pensions | 62 | €1,053,312 | €999,856 | -€53,456 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,291 | €81,367 | -€6,924 | -7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,941 | €27,404 | +€52,345 | |
| Other operating charges | 640/8 | €57,343 | €61,140 | +€3,796 | +6.6% |
| Gross operating margin | 9900 | €1,311,202 | €1,261,262 | -€49,940 | -3.8% |
| Operating profit (loss) | 9901 | €137,196 | €91,495 | -€45,701 | -33.3% |
| Financial income | 75/76B | €72,612 | €65,310 | -€7,302 | -10.1% |
| Recurring financial income | 75 | €72,612 | €65,310 | -€7,302 | -10.1% |
| Financial charges | 65/66B | €118,116 | €102,062 | -€16,053 | -13.6% |
| Recurring financial charges | 65 | €118,116 | €102,062 | -€16,053 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €91,692 | €54,743 | -€36,950 | -40.3% |
| Income taxes | 67/77 | €29,553 | €20,229 | -€9,324 | -31.6% |
| Profit (loss) for the period | 9904 | €62,139 | €34,514 | -€27,625 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,139 | €34,514 | -€27,625 | -44.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.