MALUHENI: 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.
MALUHENI
Largest movements
- Receivables within one year +€19,498
up €19,498 (+46.1%), from €42,281 to €61,780
of which Trade receivables: +€20,206
- Tangible fixed assets -€5,902
down €5,902 (-14.0%), from €42,227 to €36,325
- Cash +€1,611
up €1,611 (+339%), from €475 to €2,086
mainly Trade debts (+€11,782) and Net result for the year (+€9,414)
- Other debts -€14,683
down €14,683 (-21.0%), from €70,020 to €55,337
- Trade debts +€11,782
up €11,782 (+137%), from €8,591 to €20,372
- Profit (loss) carried forward +€9,414
up €9,414, from -€8,889 to €524
- Tax, wage and social debts +€9,219
up €9,219 (+98.2%), from €9,384 to €18,603
of which Taxes: +€11,219
- Gross operating margin +€29,242
up €29,242, from -€7,796 to €21,445
- Depreciation +€8,582
up €8,582 (+1,509%), from €569 to €9,151
- Taxes +€2,053
up €2,053 (+18,360%), from €11 to €2,064
- Financial charges +€245
new in 2025: €245
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.
Derived cash bridge
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 | €88,492 | €104,098 | +€15,606 | +17.6% |
| Formation expenses | 20 | €2,669 | €2,086 | -€582 | -21.8% |
| Fixed assets | 21/28 | €42,227 | €36,325 | -€5,902 | -14.0% |
| Tangible fixed assets | 22/27 | €42,227 | €36,325 | -€5,902 | -14.0% |
| Furniture and vehicles | 24 | €42,227 | €36,325 | -€5,902 | -14.0% |
| Current assets | 29/58 | €43,596 | €65,687 | +€22,090 | +50.7% |
| Amounts receivable within one year | 40/41 | €42,281 | €61,780 | +€19,498 | +46.1% |
| Trade receivables | 40 | €36,063 | €56,269 | +€20,206 | +56.0% |
| Other amounts receivable | 41 | €6,218 | €5,511 | -€707 | -11.4% |
| Cash at bank and in hand | 54/58 | €475 | €2,086 | +€1,611 | +339% |
| Deferred charges and accrued income | 490/1 | €840 | €1,821 | +€981 | +117% |
| Total equity and liabilities | 10/49 | €88,492 | €104,098 | +€15,606 | +17.6% |
| Equity | 10/15 | €111 | €9,524 | +€9,414 | +8,501% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,889 | €524 | +€9,414 | |
| Amounts payable | 17/49 | €88,382 | €94,573 | +€6,192 | +7.0% |
| Amounts payable within one year | 42/48 | €87,995 | €94,312 | +€6,318 | +7.2% |
| Trade debts | 44 | €8,591 | €20,372 | +€11,782 | +137% |
| Suppliers | 440/4 | €8,591 | €20,372 | +€11,782 | +137% |
| Taxes, remuneration and social security | 45 | €9,384 | €18,603 | +€9,219 | +98.2% |
| Taxes | 450/3 | €3,384 | €14,603 | +€11,219 | +332% |
| Remuneration and social security | 454/9 | €6,000 | €4,000 | -€2,000 | -33.3% |
| Other amounts payable | 47/48 | €70,020 | €55,337 | -€14,683 | -21.0% |
| Accrued charges and deferred income | 492/3 | €387 | €261 | -€126 | -32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €569 | €9,151 | +€8,582 | +1,509% |
| Other operating charges | 640/8 | €528 | €573 | +€46 | +8.7% |
| Gross operating margin | 9900 | -€7,796 | €21,445 | +€29,242 | |
| Operating profit (loss) | 9901 | -€8,893 | €11,721 | +€20,614 | |
| Financial income | 75/76B | €15 | €1 | -€14 | -91.7% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -91.7% |
| Financial charges | 65/66B | - | €245 | +€245 | |
| Recurring financial charges | 65 | - | €245 | +€245 | |
| Profit (loss) for the period before taxes | 9903 | -€8,878 | €11,477 | +€20,356 | |
| Income taxes | 67/77 | €11 | €2,064 | +€2,053 | +18,360% |
| Profit (loss) for the period | 9904 | -€8,889 | €9,414 | +€18,303 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,889 | €9,414 | +€18,303 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.