MaLuMa: 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.
MaLuMa
Largest movements
- Cash +€135,546
up €135,546 (+74.4%), from €182,192 to €317,738
mainly Receivables within one year (+€102,500) and Stocks and contracts (+€19,389)
- Receivables within one year -€102,500
no longer reported in 2025 (was €102,500)
of which Other amounts receivable: -€100,000
- Stocks and contracts -€19,389
no longer reported in 2025 (was €19,389)
- Reserves +€13,470
up €13,470 (+69.2%), from €19,467 to €32,937
- Tax, wage and social debts +€6,645
up €6,645 (+6928.9%), from €96 to €6,741
- Other debts -€6,458
down €6,458 (-2.4%), from €266,941 to €260,482
- Gross operating margin +€19,846
up €19,846 (+3692.9%), from €537 to €20,384
- Taxes +€6,645
up €6,645 (+6928.9%), from €96 to €6,741
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 | €304,081 | €317,738 | +€13,657 | +4.5% |
| Current assets | 29/58 | €304,081 | €317,738 | +€13,657 | +4.5% |
| Stocks and contracts in progress | 3 | €19,389 | - | -€19,389 | |
| Stocks | 30/36 | €19,389 | - | -€19,389 | |
| Amounts receivable within one year | 40/41 | €102,500 | - | -€102,500 | |
| Trade receivables | 40 | €2,500 | - | -€2,500 | |
| Other amounts receivable | 41 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €182,192 | €317,738 | +€135,546 | +74.4% |
| Total equity and liabilities | 10/49 | €304,081 | €317,738 | +€13,657 | +4.5% |
| Equity | 10/15 | €37,045 | €50,515 | +€13,470 | +36.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,467 | €32,937 | +€13,470 | +69.2% |
| Distributable reserves | 133 | €19,467 | €32,937 | +€13,470 | +69.2% |
| Profit (loss) carried forward | 14 | -€1,022 | -€1,022 | = | 0.0% |
| Amounts payable | 17/49 | €267,036 | €267,223 | +€187 | +0.1% |
| Amounts payable within one year | 42/48 | €267,036 | €267,223 | +€187 | +0.1% |
| Taxes, remuneration and social security | 45 | €96 | €6,741 | +€6,645 | +6928.9% |
| Taxes | 450/3 | €96 | €6,741 | +€6,645 | +6928.9% |
| Other amounts payable | 47/48 | €266,941 | €260,482 | -€6,458 | -2.4% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €537 | €20,384 | +€19,846 | +3692.9% |
| Operating profit (loss) | 9901 | €411 | €20,256 | +€19,844 | +4823.4% |
| Financial charges | 65/66B | €60 | €45 | -€15 | -24.4% |
| Recurring financial charges | 65 | €60 | €45 | -€15 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €352 | €20,211 | +€19,859 | +5643.3% |
| Income taxes | 67/77 | €96 | €6,741 | +€6,645 | +6928.9% |
| Profit (loss) for the period | 9904 | €256 | €13,470 | +€13,214 | +5161.7% |
| Profit (loss) for the period to be appropriated | 9905 | €256 | €13,470 | +€13,214 | +5161.7% |
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 3 October 2026 via checked.be.