MALUT: 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.
MALUT
Largest movements
- Cash -€40,619
down €40,619 (-70.9%), from €57,302 to €16,683
mainly Net result for the year (-€29,151) and Receivables within one year (-€22,427)
- Receivables within one year +€22,427
up €22,427 (+115.3%), from €19,445 to €41,872
of which Trade receivables: +€19,024
- Intangible fixed assets -€13,000
down €13,000 (-14.9%), from €87,128 to €74,128
- Tangible fixed assets -€5,341
down €5,341 (-13.1%), from €40,643 to €35,302
of which Leasing and similar rights: -€3,267
- Profit (loss) carried forward -€29,151
down €29,151 (-39.9%), from €73,064 to €43,913
- Trade debts +€26,103
up €26,103 (+188.3%), from €13,865 to €39,967
- Debts after one year -€20,161
down €20,161 (-81.6%), from €24,695 to €4,535
- Current portion of long-term debt -€7,137
down €7,137 (-26.1%), from €27,297 to €20,161
- Other debts -€3,803
down €3,803 (-23.2%), from €16,396 to €12,594
- Turnover +€662,481
new in 2025: €662,481
- Purchases and services +€616,977
new in 2025: €616,977
- Gross operating margin -€41,783
down €41,783 (-35.1%), from €118,889 to €77,106
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 | €204,966 | €169,994 | -€34,972 | -17.1% |
| Fixed assets | 21/28 | €127,771 | €109,430 | -€18,341 | -14.4% |
| Intangible fixed assets | 21 | €87,128 | €74,128 | -€13,000 | -14.9% |
| Tangible fixed assets | 22/27 | €40,643 | €35,302 | -€5,341 | -13.1% |
| Plant, machinery and equipment | 23 | €7,314 | €5,769 | -€1,545 | -21.1% |
| Furniture and vehicles | 24 | €729 | €2,958 | +€2,230 | +305.9% |
| Leasing and similar rights | 25 | €9,355 | €6,087 | -€3,267 | -34.9% |
| Other tangible fixed assets | 26 | €23,245 | €20,488 | -€2,758 | -11.9% |
| Current assets | 29/58 | €77,195 | €60,563 | -€16,631 | -21.5% |
| Stocks and contracts in progress | 3 | - | €855 | +€855 | |
| Stocks | 30/36 | - | €855 | +€855 | |
| Amounts receivable within one year | 40/41 | €19,445 | €41,872 | +€22,427 | +115.3% |
| Trade receivables | 40 | €146 | €19,170 | +€19,024 | +12993.6% |
| Other amounts receivable | 41 | €19,299 | €22,702 | +€3,403 | +17.6% |
| Cash at bank and in hand | 54/58 | €57,302 | €16,683 | -€40,619 | -70.9% |
| Deferred charges and accrued income | 490/1 | €448 | €1,154 | +€706 | +157.8% |
| Total equity and liabilities | 10/49 | €204,966 | €169,994 | -€34,972 | -17.1% |
| Equity | 10/15 | €103,064 | €73,913 | -€29,151 | -28.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,064 | €43,913 | -€29,151 | -39.9% |
| Amounts payable | 17/49 | €101,902 | €96,080 | -€5,822 | -5.7% |
| Amounts payable after more than one year | 17 | €24,695 | €4,535 | -€20,161 | -81.6% |
| Financial debts | 170/4 | €24,695 | €4,535 | -€20,161 | -81.6% |
| Amounts payable within one year | 42/48 | €77,207 | €90,954 | +€13,747 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €27,297 | €20,161 | -€7,137 | -26.1% |
| Trade debts | 44 | €13,865 | €39,967 | +€26,103 | +188.3% |
| Suppliers | 440/4 | €13,865 | €39,967 | +€26,103 | +188.3% |
| Taxes, remuneration and social security | 45 | €19,649 | €18,232 | -€1,416 | -7.2% |
| Taxes | 450/3 | €2,884 | €1,750 | -€1,134 | -39.3% |
| Remuneration and social security | 454/9 | €16,765 | €16,482 | -€283 | -1.7% |
| Other amounts payable | 47/48 | €16,396 | €12,594 | -€3,803 | -23.2% |
| Accrued charges and deferred income | 492/3 | - | €592 | +€592 | |
| Turnover | 70 | - | €662,481 | +€662,481 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €616,977 | +€616,977 | |
| Remuneration, social security and pensions | 62 | €80,799 | €79,079 | -€1,720 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,556 | €21,208 | +€652 | +3.2% |
| Other operating charges | 640/8 | €819 | €840 | +€21 | +2.6% |
| Gross operating margin | 9900 | €118,889 | €77,106 | -€41,783 | -35.1% |
| Operating profit (loss) | 9901 | €16,716 | -€24,020 | -€40,736 | |
| Financial income | 75/76B | €282 | €355 | +€73 | +25.8% |
| Recurring financial income | 75 | €282 | €355 | +€73 | +25.8% |
| Financial charges | 65/66B | €6,070 | €5,486 | -€584 | -9.6% |
| Recurring financial charges | 65 | €6,070 | €5,486 | -€584 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €10,928 | -€29,151 | -€40,079 | |
| Income taxes | 67/77 | €1,993 | - | -€1,993 | |
| Profit (loss) for the period | 9904 | €8,935 | -€29,151 | -€38,086 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,935 | -€29,151 | -€38,086 |
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 30 September 2026 via checked.be.