MLAZ: 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.
MLAZ
Largest movements
- Cash +€24,980
up €24,980 (+628%), from €3,978 to €28,958
mainly Tax, wage and social debts (+€11,555) and Other debts (+€7,660)
- Receivables within one year +€7,761
up €7,761 (+25.2%), from €30,840 to €38,601
of which Trade receivables: +€8,685
- Deferred charges and accrued income +€1,727
new in 2025: €1,727
- Tangible fixed assets -€1,175
down €1,175 (-34.0%), from €3,457 to €2,282
of which Furniture and vehicles: -€1,175
- Tax, wage and social debts +€11,555
up €11,555 (+565%), from €2,044 to €13,599
of which Remuneration and social security: +€12,235
- Profit (loss) carried forward +€7,977
new in 2025: €7,977
- Other debts +€7,660
up €7,660 (+120%), from €6,362 to €14,022
- Debts after one year +€6,266
new in 2025: €6,266
- Current portion of long-term debt +€2,237
new in 2025: €2,237
- Other operating charges -€3,819
down €3,819 (-80.1%), from €4,768 to €950
- Taxes +€1,197
up €1,197 (+258%), from €463 to €1,660
- Depreciation +€1,175
up €1,175 (+1,743%), from €67 to €1,243
- Write-downs -€1,100
no longer reported in 2025 (was €1,100)
- Gross operating margin -€984
down €984 (-9.7%), from €10,105 to €9,120
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 | €38,276 | €71,569 | +€33,293 | +87.0% |
| Fixed assets | 21/28 | €3,457 | €2,282 | -€1,175 | -34.0% |
| Tangible fixed assets | 22/27 | €3,457 | €2,282 | -€1,175 | -34.0% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €3,457 | €2,282 | -€1,175 | -34.0% |
| Current assets | 29/58 | €34,818 | €69,286 | +€34,468 | +99.0% |
| Amounts receivable within one year | 40/41 | €30,840 | €38,601 | +€7,761 | +25.2% |
| Trade receivables | 40 | €28,699 | €37,384 | +€8,685 | +30.3% |
| Other amounts receivable | 41 | €2,141 | €1,217 | -€924 | -43.2% |
| Cash at bank and in hand | 54/58 | €3,978 | €28,958 | +€24,980 | +628% |
| Deferred charges and accrued income | 490/1 | - | €1,727 | +€1,727 | |
| Total equity and liabilities | 10/49 | €38,276 | €71,569 | +€33,293 | +87.0% |
| Equity | 10/15 | €29,233 | €35,445 | +€6,212 | +21.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,633 | €8,867 | -€1,766 | -16.6% |
| Distributable reserves | 133 | €10,633 | €8,867 | -€1,766 | -16.6% |
| Profit (loss) carried forward | 14 | - | €7,977 | +€7,977 | |
| Amounts payable | 17/49 | €9,042 | €36,124 | +€27,081 | +299% |
| Amounts payable after more than one year | 17 | - | €6,266 | +€6,266 | |
| Financial debts | 170/4 | - | €6,266 | +€6,266 | |
| Amounts payable within one year | 42/48 | €9,042 | €29,858 | +€20,816 | +230% |
| Current portion of amounts payable after more than one year | 42 | - | €2,237 | +€2,237 | |
| Trade debts | 44 | €636 | - | -€636 | |
| Suppliers | 440/4 | €636 | - | -€636 | |
| Taxes, remuneration and social security | 45 | €2,044 | €13,599 | +€11,555 | +565% |
| Taxes | 450/3 | €2,044 | €1,364 | -€680 | -33.3% |
| Remuneration and social security | 454/9 | - | €12,235 | +€12,235 | |
| Other amounts payable | 47/48 | €6,362 | €14,022 | +€7,660 | +120% |
| Non-recurring operating income | 76A | - | €6,545 | +€6,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67 | €1,243 | +€1,175 | +1,743% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,100 | - | -€1,100 | |
| Other operating charges | 640/8 | €4,768 | €950 | -€3,819 | -80.1% |
| Gross operating margin | 9900 | €10,105 | €9,120 | -€984 | -9.7% |
| Operating profit (loss) | 9901 | €4,169 | €6,928 | +€2,759 | +66.2% |
| Financial charges | 65/66B | €1,940 | €1,435 | -€504 | -26.0% |
| Recurring financial charges | 65 | €1,940 | €1,435 | -€504 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €2,229 | €5,493 | +€3,264 | +146% |
| Income taxes | 67/77 | €463 | €1,660 | +€1,197 | +258% |
| Profit (loss) for the period | 9904 | €1,766 | €3,833 | +€2,067 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €1,766 | €3,833 | +€2,067 | +117% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.