Malu ICT: what changed
Two fiscal 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.
Malu ICT
Largest movements
- Tangible fixed assets +€3,828
up €3,828 (+17.6%), from €21,690 to €25,518
of which Other tangible fixed assets: +€6,669
- Cash +€3,201
up €3,201 (+15.3%), from €20,982 to €24,183
mainly Net result for the year (+€27,221) and Trade debts (+€10,805)
- Trade debts +€10,805
up €10,805 (+1810.8%), from €597 to €11,402
- Debts after one year -€5,415
no longer reported in 2025 (was €5,415)
- Reserves -€2,779
down €2,779 (-7.2%), from €38,855 to €36,076
- Current portion of long-term debt +€2,640
new in 2025: €2,640
- Tax, wage and social debts +€1,792
up €1,792 (+23.0%), from €7,802 to €9,594
- Depreciation +€1,907
up €1,907 (+56.6%), from €3,367 to €5,274
- Other operating charges -€603
down €603 (-57.5%), from €1,048 to €446
- Gross operating margin +€427
up €427 (+1.0%), from €42,180 to €42,606
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 | €55,451 | €62,238 | +€6,787 | +12.2% |
| Fixed assets | 21/28 | €21,690 | €25,518 | +€3,828 | +17.6% |
| Tangible fixed assets | 22/27 | €21,690 | €25,518 | +€3,828 | +17.6% |
| Furniture and vehicles | 24 | €6,854 | €4,013 | -€2,840 | -41.4% |
| Other tangible fixed assets | 26 | €14,836 | €21,505 | +€6,669 | +44.9% |
| Current assets | 29/58 | €33,761 | €36,720 | +€2,959 | +8.8% |
| Amounts receivable within one year | 40/41 | €12,342 | €12,100 | -€242 | -2.0% |
| Trade receivables | 40 | €12,342 | €12,100 | -€242 | -2.0% |
| Cash at bank and in hand | 54/58 | €20,982 | €24,183 | +€3,201 | +15.3% |
| Deferred charges and accrued income | 490/1 | €437 | €437 | = | 0.0% |
| Total equity and liabilities | 10/49 | €55,451 | €62,238 | +€6,787 | +12.2% |
| Equity | 10/15 | €40,855 | €38,076 | -€2,779 | -6.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €38,855 | €36,076 | -€2,779 | -7.2% |
| Distributable reserves | 133 | €38,855 | €36,076 | -€2,779 | -7.2% |
| Amounts payable | 17/49 | €14,596 | €24,161 | +€9,566 | +65.5% |
| Amounts payable after more than one year | 17 | €5,415 | - | -€5,415 | |
| Financial debts | 170/4 | €5,415 | - | -€5,415 | |
| Amounts payable within one year | 42/48 | €9,180 | €24,161 | +€14,981 | +163.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,640 | +€2,640 | |
| Trade debts | 44 | €597 | €11,402 | +€10,805 | +1810.8% |
| Suppliers | 440/4 | €597 | €11,402 | +€10,805 | +1810.8% |
| Taxes, remuneration and social security | 45 | €7,802 | €9,594 | +€1,792 | +23.0% |
| Taxes | 450/3 | €7,802 | €9,594 | +€1,792 | +23.0% |
| Other amounts payable | 47/48 | €781 | €525 | -€256 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,367 | €5,274 | +€1,907 | +56.6% |
| Other operating charges | 640/8 | €1,048 | €446 | -€603 | -57.5% |
| Gross operating margin | 9900 | €42,180 | €42,606 | +€427 | +1.0% |
| Operating profit (loss) | 9901 | €37,764 | €36,887 | -€877 | -2.3% |
| Financial charges | 65/66B | €731 | €504 | -€226 | -31.0% |
| Recurring financial charges | 65 | €731 | €504 | -€226 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €37,034 | €36,382 | -€651 | -1.8% |
| Income taxes | 67/77 | €9,527 | €9,161 | -€365 | -3.8% |
| Profit (loss) for the period | 9904 | €27,507 | €27,221 | -€286 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,507 | €27,221 | -€286 | -1.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.