MALOUGO: 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.
MALOUGO
Largest movements
- Cash +€36,969
up €36,969 (+37.3%), from €99,166 to €136,135
mainly Trade debts (+€39,767) and Net result for the year (+€2,332)
- Stocks and contracts +€3,142
up €3,142 (+12.8%), from €24,617 to €27,759
- Receivables within one year +€2,140
up €2,140 (+237.8%), from €900 to €3,039
of which Trade receivables: +€2,232
- Trade debts +€39,767
up €39,767 (+135.9%), from €29,255 to €69,022
- Reserves +€2,332
up €2,332 (+8.1%), from €28,878 to €31,210
- Gross operating margin -€3,706
down €3,706 (-33.4%), from €11,084 to €7,378
- Taxes -€145
down €145 (-7.6%), from €1,921 to €1,776
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 | €128,628 | €169,192 | +€40,564 | +31.5% |
| Fixed assets | 21/28 | €3,547 | €2,259 | -€1,288 | -36.3% |
| Tangible fixed assets | 22/27 | €3,382 | €2,094 | -€1,288 | -38.1% |
| Plant, machinery and equipment | 23 | €3,382 | €2,094 | -€1,288 | -38.1% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €125,081 | €166,933 | +€41,852 | +33.5% |
| Stocks and contracts in progress | 3 | €24,617 | €27,759 | +€3,142 | +12.8% |
| Stocks | 30/36 | €24,617 | €27,759 | +€3,142 | +12.8% |
| Amounts receivable within one year | 40/41 | €900 | €3,039 | +€2,140 | +237.8% |
| Trade receivables | 40 | €707 | €2,940 | +€2,232 | +315.5% |
| Other amounts receivable | 41 | €192 | €99 | -€93 | -48.3% |
| Cash at bank and in hand | 54/58 | €99,166 | €136,135 | +€36,969 | +37.3% |
| Deferred charges and accrued income | 490/1 | €398 | - | -€398 | |
| Total equity and liabilities | 10/49 | €128,628 | €169,192 | +€40,564 | +31.5% |
| Equity | 10/15 | €90,608 | €92,940 | +€2,332 | +2.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €28,878 | €31,210 | +€2,332 | +8.1% |
| Distributable reserves | 133 | €28,878 | €31,210 | +€2,332 | +8.1% |
| Profit (loss) carried forward | 14 | €49,331 | €49,331 | = | 0.0% |
| Amounts payable | 17/49 | €38,019 | €76,252 | +€38,232 | +100.6% |
| Amounts payable within one year | 42/48 | €36,649 | €74,882 | +€38,232 | +104.3% |
| Current portion of amounts payable after more than one year | 42 | €761 | - | -€761 | |
| Trade debts | 44 | €29,255 | €69,022 | +€39,767 | +135.9% |
| Suppliers | 440/4 | €29,255 | €69,022 | +€39,767 | +135.9% |
| Taxes, remuneration and social security | 45 | €3,029 | €2,213 | -€816 | -27.0% |
| Taxes | 450/3 | €1,779 | €963 | -€816 | -45.9% |
| Remuneration and social security | 454/9 | €1,250 | €1,250 | = | 0.0% |
| Other amounts payable | 47/48 | €3,604 | €3,647 | +€43 | +1.2% |
| Accrued charges and deferred income | 492/3 | €1,370 | €1,370 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,288 | €1,288 | = | 0.0% |
| Other operating charges | 640/8 | €2,026 | €2,039 | +€12 | +0.6% |
| Gross operating margin | 9900 | €11,084 | €7,378 | -€3,706 | -33.4% |
| Operating profit (loss) | 9901 | €7,770 | €4,051 | -€3,719 | -47.9% |
| Financial income | 75/76B | €523 | €418 | -€104 | -20.0% |
| Recurring financial income | 75 | €523 | €418 | -€104 | -20.0% |
| Financial charges | 65/66B | €443 | €362 | -€80 | -18.2% |
| Recurring financial charges | 65 | €443 | €362 | -€80 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €7,850 | €4,108 | -€3,743 | -47.7% |
| Income taxes | 67/77 | €1,921 | €1,776 | -€145 | -7.6% |
| Profit (loss) for the period | 9904 | €5,930 | €2,332 | -€3,598 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,930 | €2,332 | -€3,598 | -60.7% |
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 11 October 2026 via checked.be.