Maluan: 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.
Maluan
Largest movements
- Cash -€48,487
down €48,487 (-59.7%), from €81,273 to €32,786
mainly Contributions, distributions and other (-€132,532) and Investment in fixed assets (net) (-€4,056)
- Deferred charges and accrued income -€2,961
down €2,961 (-25.5%), from €11,602 to €8,641
- Receivables within one year +€1,373
up €1,373 (+10.8%), from €12,651 to €14,024
- Profit (loss) carried forward -€92,353
down €92,353 (-99.8%), from €92,532 to €178
- Other debts +€36,640
up €36,640 (+482.1%), from €7,599 to €44,240
- Tax, wage and social debts +€5,917
up €5,917 (+38.8%), from €15,251 to €21,168
- Gross operating margin +€5,427
up €5,427 (+10.6%), from €51,436 to €56,864
- Depreciation +€1,084
up €1,084 (+51.8%), from €2,092 to €3,177
- Taxes +€944
up €944 (+9.2%), from €10,304 to €11,249
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 | €120,791 | €71,595 | -€49,196 | -40.7% |
| Fixed assets | 21/28 | €15,265 | €16,144 | +€879 | +5.8% |
| Tangible fixed assets | 22/27 | €15,265 | €16,144 | +€879 | +5.8% |
| Plant, machinery and equipment | 23 | €2,449 | €2,203 | -€246 | -10.1% |
| Furniture and vehicles | 24 | €1,386 | €3,802 | +€2,416 | +174.3% |
| Other tangible fixed assets | 26 | €11,430 | €10,139 | -€1,290 | -11.3% |
| Current assets | 29/58 | €105,526 | €55,451 | -€50,075 | -47.5% |
| Amounts receivable within one year | 40/41 | €12,651 | €14,024 | +€1,373 | +10.8% |
| Trade receivables | 40 | €12,651 | €14,024 | +€1,373 | +10.8% |
| Cash at bank and in hand | 54/58 | €81,273 | €32,786 | -€48,487 | -59.7% |
| Deferred charges and accrued income | 490/1 | €11,602 | €8,641 | -€2,961 | -25.5% |
| Total equity and liabilities | 10/49 | €120,791 | €71,595 | -€49,196 | -40.7% |
| Equity | 10/15 | €94,532 | €2,178 | -€92,353 | -97.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,532 | €178 | -€92,353 | -99.8% |
| Amounts payable | 17/49 | €26,259 | €69,417 | +€43,158 | +164.4% |
| Amounts payable within one year | 42/48 | €26,259 | €69,417 | +€43,158 | +164.4% |
| Trade debts | 44 | €3,409 | €4,009 | +€600 | +17.6% |
| Suppliers | 440/4 | €3,409 | €4,009 | +€600 | +17.6% |
| Taxes, remuneration and social security | 45 | €15,251 | €21,168 | +€5,917 | +38.8% |
| Taxes | 450/3 | €15,251 | €21,168 | +€5,917 | +38.8% |
| Other amounts payable | 47/48 | €7,599 | €44,240 | +€36,640 | +482.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,092 | €3,177 | +€1,084 | +51.8% |
| Other operating charges | 640/8 | €277 | €653 | +€376 | +135.8% |
| Gross operating margin | 9900 | €51,436 | €56,864 | +€5,427 | +10.6% |
| Operating profit (loss) | 9901 | €49,067 | €53,034 | +€3,967 | +8.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,941 | €1,607 | -€334 | -17.2% |
| Recurring financial charges | 65 | €1,941 | €1,607 | -€334 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €47,126 | €51,427 | +€4,301 | +9.1% |
| Income taxes | 67/77 | €10,304 | €11,249 | +€944 | +9.2% |
| Profit (loss) for the period | 9904 | €36,822 | €40,178 | +€3,356 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,822 | €40,178 | +€3,356 | +9.1% |
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 9 October 2026 via checked.be.