MALU: 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
MALU
NACE 46.412, Wholesale of household textiles and bedding
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€818,713
2024 · €351,490+€467,222
Equity
€9.3m
2024 · €9.2m+€59,761
Cash
€221,868
2024 · €816,302-€594,433
Balance sheet total
€25.4m
2024 · €17.3m+€8.1m
Largest movements
Assets
- Stocks and contracts +€5.5m
up €5.5m (+140.0%), from €3.9m to €9.4m
- Receivables within one year +€3.5m
up €3.5m (+62.8%), from €5.5m to €9.0m
of which Trade receivables: +€3.5m
- Deferred charges and accrued income -€862,850
down €862,850 (-93.4%), from €924,055 to €61,206
- Receivables after one year +€758,313
up €758,313 (+41.1%), from €1.8m to €2.6m
- Cash -€594,433
down €594,433 (-72.8%), from €816,302 to €221,868
mainly Stocks and contracts (-€5.5m) and Receivables within one year (-€3.5m)
Equity and liabilities
- Short-term financial debts +€6.4m
up €6.4m (+92.4%), from €6.9m to €13.3m
- Other debts +€758,952
new in 2025: €758,952
- Accrued charges and deferred income +€617,539
up €617,539 (+1565.9%), from €39,438 to €656,977
- Trade debts +€286,839
up €286,839 (+36.2%), from €793,022 to €1.1m
Income statement
- Turnover +€9.9m
up €9.9m (+26.1%), from €37.9m to €47.8m
- Goods and materials +€8.7m
up €8.7m (+27.1%), from €32.0m to €40.6m
of which Purchases: +€21.0m
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.
Result 2024
€351,490
Turnover
+€9.9m
Other operating income
+€7,344
Goods and materials
-€8.7m
Services and other goods
-€205,524
Staff costs
-€386,606
Depreciation
+€12,456
Write-downs
-€124,022
Other operating charges
-€480
Other operating items
-€413
Financial income
-€63,365
Financial charges
+€187,631
Taxes
-€197,665
Result 2025
€818,713
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.
From operations
-€6.1m
Investment
-€86,190
Financing
+€5.6m
Cash 2024
€816,302
From operations (derived)
-€6.1m
Net result for the year
+€818,713
Depreciation
+€271,998
Receivables after one year
-€758,313
Stocks and contracts
-€5.5m
Receivables within one year
-€3.5m
Deferred charges and accrued income
+€862,850
Trade debts
+€286,839
Tax, wage and social debts
+€33,162
Other debts
+€758,952
Accrued charges and deferred income
+€617,539
Investment (derived)
-€86,190
Investment in fixed assets (net)
-€86,190
Financing
+€5.6m
Debts after one year
-€25,626
Current portion of long-term debt
-€42,156
Short-term financial debts
+€6.4m
Contributions, distributions and other
-€758,952
Cash 2025
€221,868
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,323,912 | €25,404,160 | +€8.1m | +46.6% |
| Fixed assets | 21/28 | €4,302,620 | €4,116,811 | -€185,809 | -4.3% |
| Intangible fixed assets | 21 | €267,750 | €235,500 | -€32,250 | -12.0% |
| Tangible fixed assets | 22/27 | €3,992,177 | €3,832,040 | -€160,137 | -4.0% |
| Land and buildings | 22 | €3,572,445 | €3,493,509 | -€78,936 | -2.2% |
| Plant, machinery and equipment | 23 | €236,271 | €160,835 | -€75,436 | -31.9% |
| Furniture and vehicles | 24 | €183,460 | €177,695 | -€5,765 | -3.1% |
| Financial fixed assets | 28 | €42,693 | €49,271 | +€6,578 | +15.4% |
| Other financial fixed assets | 284/8 | €42,693 | €49,271 | +€6,578 | +15.4% |
| Amounts receivable and cash guarantees | 285/8 | €42,693 | €49,271 | +€6,578 | +15.4% |
| Current assets | 29/58 | €13,021,292 | €21,287,349 | +€8.3m | +63.5% |
| Amounts receivable after more than one year | 29 | €1,846,508 | €2,604,820 | +€758,313 | +41.1% |
| Other amounts receivable | 291 | €1,846,508 | €2,604,820 | +€758,313 | +41.1% |
| Stocks and contracts in progress | 3 | €3,933,791 | €9,442,568 | +€5.5m | +140.0% |
| Stocks | 30/36 | €3,933,791 | €9,442,568 | +€5.5m | +140.0% |
| Raw materials and consumables | 30/31 | €177,356 | €152,696 | -€24,659 | -13.9% |
| Goods purchased for resale | 34 | €3,350,123 | €8,917,782 | +€5.6m | +166.2% |
| Advance payments | 36 | €406,312 | €372,090 | -€34,223 | -8.4% |
| Amounts receivable within one year | 40/41 | €5,500,637 | €8,956,887 | +€3.5m | +62.8% |
| Trade receivables | 40 | €5,275,987 | €8,815,846 | +€3.5m | +67.1% |
| Other amounts receivable | 41 | €224,650 | €141,041 | -€83,609 | -37.2% |
| Cash at bank and in hand | 54/58 | €816,302 | €221,868 | -€594,433 | -72.8% |
| Deferred charges and accrued income | 490/1 | €924,055 | €61,206 | -€862,850 | -93.4% |
| Total equity and liabilities | 10/49 | €17,323,912 | €25,404,160 | +€8.1m | +46.6% |
| Equity | 10/15 | €9,215,795 | €9,275,556 | +€59,761 | +0.6% |
| Contributions | 10/11 | €5,744,338 | €5,744,338 | = | 0.0% |
| Capital | 10 | €5,284,000 | €5,284,000 | = | 0.0% |
| Issued capital | 100 | €5,284,000 | €5,284,000 | = | 0.0% |
| Contributions outside capital | 11 | €460,338 | €460,338 | = | 0.0% |
| Share premium | 1100/10 | €460,338 | €460,338 | = | 0.0% |
| Revaluation surpluses | 12 | €1,878,981 | €1,878,981 | = | 0.0% |
| Reserves | 13 | €1,592,476 | €1,652,237 | +€59,761 | +3.8% |
| Non-distributable reserves | 130/1 | €118,864 | €160,230 | +€41,367 | +34.8% |
| Legal reserve | 130 | €118,864 | €160,230 | +€41,367 | +34.8% |
| Tax-exempt reserves | 132 | €120,670 | €112,053 | -€8,617 | -7.1% |
| Distributable reserves | 133 | €1,352,942 | €1,379,953 | +€27,012 | +2.0% |
| Amounts payable | 17/49 | €8,108,117 | €16,128,604 | +€8.0m | +98.9% |
| Amounts payable after more than one year | 17 | €46,660 | €21,034 | -€25,626 | -54.9% |
| Financial debts | 170/4 | €46,660 | €21,034 | -€25,626 | -54.9% |
| Credit institutions | 173 | €46,660 | €21,034 | -€25,626 | -54.9% |
| Amounts payable within one year | 42/48 | €8,022,019 | €15,450,594 | +€7.4m | +92.6% |
| Current portion of amounts payable after more than one year | 42 | €67,782 | €25,626 | -€42,156 | -62.2% |
| Financial debts | 43 | €6,919,616 | €13,311,394 | +€6.4m | +92.4% |
| Credit institutions | 430/8 | €6,919,616 | €13,311,394 | +€6.4m | +92.4% |
| Trade debts | 44 | €793,022 | €1,079,861 | +€286,839 | +36.2% |
| Suppliers | 440/4 | €793,022 | €1,079,861 | +€286,839 | +36.2% |
| Taxes, remuneration and social security | 45 | €241,600 | €274,761 | +€33,162 | +13.7% |
| Taxes | 450/3 | €26,924 | €93,970 | +€67,046 | +249.0% |
| Remuneration and social security | 454/9 | €214,676 | €180,791 | -€33,885 | -15.8% |
| Other amounts payable | 47/48 | - | €758,952 | +€758,952 | |
| Accrued charges and deferred income | 492/3 | €39,438 | €656,977 | +€617,539 | +1565.9% |
| Operating income | 70/76A | €37,920,885 | €47,828,217 | +€9.9m | +26.1% |
| Turnover | 70 | €37,898,302 | €47,798,703 | +€9.9m | +26.1% |
| Other operating income | 74 | €22,170 | €29,513 | +€7,344 | +33.1% |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Operating charges | 60/66A | €36,662,555 | €46,029,265 | +€9.4m | +25.5% |
| Goods for resale, raw materials and consumables | 60 | €31,977,287 | €40,639,821 | +€8.7m | +27.1% |
| Purchases | 600/8 | €25,310,752 | €46,304,800 | +€21.0m | +82.9% |
| Change in stocks: decrease (increase) | 609 | €6,666,535 | -€5,664,979 | -€12.3m | |
| Services and other goods | 61 | €2,373,461 | €2,578,985 | +€205,524 | +8.7% |
| Remuneration, social security and pensions | 62 | €1,989,856 | €2,376,463 | +€386,606 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284,454 | €271,998 | -€12,456 | -4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,043 | €121,979 | +€124,022 | |
| Other operating charges | 640/8 | €39,539 | €40,019 | +€480 | +1.2% |
| Operating profit (loss) | 9901 | €1,258,330 | €1,798,952 | +€540,622 | +43.0% |
| Financial income | 75/76B | €135,039 | €71,674 | -€63,365 | -46.9% |
| Recurring financial income | 75 | €135,039 | €71,674 | -€63,365 | -46.9% |
| Income from current assets | 751 | €36,887 | €48,826 | +€11,938 | +32.4% |
| Other financial income | 752/9 | €98,152 | €22,848 | -€75,303 | -76.7% |
| Financial charges | 65/66B | €902,086 | €714,456 | -€187,631 | -20.8% |
| Recurring financial charges | 65 | €902,086 | €714,456 | -€187,631 | -20.8% |
| Debt charges | 650 | €759,179 | €558,915 | -€200,264 | -26.4% |
| Other financial charges | 652/9 | €142,907 | €155,540 | +€12,633 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €491,283 | €1,156,170 | +€664,887 | +135.3% |
| Income taxes | 67/77 | €139,793 | €337,457 | +€197,665 | +141.4% |
| Taxes | 670/3 | €139,793 | €337,457 | +€197,665 | +141.4% |
| Profit (loss) for the period | 9904 | €351,490 | €818,713 | +€467,222 | +132.9% |
| Transfer from tax-exempt reserves | 789 | €8,617 | €8,617 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €360,108 | €827,330 | +€467,222 | +129.7% |
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 12 October 2026 via checked.be.