MALAN
ActiveSummary
MALAN has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.37M and a net result of €246k. Equity is growing by ~8.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 804 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability88=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 4.62 against 3.51 in 2023; short-term debt: 10% and cash: 15.9% of total assets), and 14.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
85.5%
Return on assets
15.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-09-2025, 35 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d late
2023
67 d late
2022
64 d late
2021
78 d late
2020
86 d late
2019
15 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€1.37M▲ 9.9%
2023 · €1.25M
2018: €826klowest in 7 years
2019: €887k▲ +7.4% vs 2018
2020: €1.01M▲ +13.4% vs 2019
2021: €1.01M▲ +0.8% vs 2020
2022: €1.06M▲ +4.5% vs 2021
2023: €1.25M▲ +17.6% vs 2022
2024: €1.37M▲ +9.9% vs 2023highest in 7 years
2018 → 2024
Total assets
€1.60M▲ 5.6%
2023 · €1.52M
2018: €1.12Mlowest in 7 years
2019: €1.16M▲ +4.2% vs 2018
2020: €1.40M▲ +20.3% vs 2019
2021: €1.34M▼ -4.1% vs 2020
2022: €1.38M▲ +2.7% vs 2021
2023: €1.52M▲ +10.3% vs 2022
2024: €1.60M▲ +5.6% vs 2023highest in 7 years
2018 → 2024
Net result
€246k▲ 4.5%
2023 · €236k
2018: €123k
2019: €61k▼ -50.2% vs 2018lowest in 7 years
2020: €156k▲ +154% vs 2019
2021: €174k▲ +11.7% vs 2020
2022: €125k▼ -27.9% vs 2021
2023: €236k▲ +88.0% vs 2022
2024: €246k▲ +4.5% vs 2023highest in 7 years
2018 → 2024
Working capital
€577k▲ 30.6%
2023 · €442k
2018: €8klowest in 7 years
2019: €89k▲ +981% vs 2018
2020: €166k▲ +87.6% vs 2019
2021: €216k▲ +29.6% vs 2020
2022: €285k▲ +32.3% vs 2021
2023: €442k▲ +54.9% vs 2022
2024: €577k▲ +30.6% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.01M-€1.01M▲ 0.8%€1.06M▲ 4.5%€1.25M▲ 17.6%€1.37M▲ 9.9%
2020: €1.01Mlowest in 5 years
2021: €1.01M▲ +0.8% vs 2020
2022: €1.06M▲ +4.5% vs 2021
2023: €1.25M▲ +17.6% vs 2022
2024: €1.37M▲ +9.9% vs 2023highest in 5 years
Operating result€247k-€274k▲ 10.9%€174k▼ 36.3%€340k▲ 94.8%€341k▲ 0.4%
2020: €247k
2021: €274k▲ +10.9% vs 2020
2022: €174k▼ -36.3% vs 2021lowest in 5 years
2023: €340k▲ +94.8% vs 2022
2024: €341k▲ +0.4% vs 2023highest in 5 years
Net result€156k-€174k▲ 11.7%€125k▼ 27.9%€236k▲ 88.0%€246k▲ 4.5%
2020: €156k
2021: €174k▲ +11.7% vs 2020
2022: €125k▼ -27.9% vs 2021lowest in 5 years
2023: €236k▲ +88.0% vs 2022
2024: €246k▲ +4.5% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 0% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.60M
Fixed assets
€866k ▼ 3.7%
Current assets
€736k ▲ 19.2%
Equity and liabilities €1.60M
Equity
€1.37M ▲ 9.9%
Debt
€232k ▼ 14.1%
Debt's share of the balance-sheet total falls from 17.8% to 14.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€406k▲
2023 · €405k
Cash flow
€311k▲
2023 · €301k
Current ratio
4.62▲
2023 · 3.51
Quick ratio
4.25▲
2023 · 3.23
Debt to equity
0.17▼
2023 · 0.22
ROE
18.0%▼
2023 · 18.9%
ROA
15.4%▼
2023 · 15.5%
Interest coverage
140.66▼
2023 · 149.88
Debt ≤ 1 year
€159k▼
2023 · €176k
Debt > 1 year
€73k▼
2023 · €95k
Income taxes
€107k=
2023 · €107k
Staff costs
€604k▲
2023 · €586k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 57 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.52M€1.60M▲
Fixed assets21/28€899k€866k▼
Tangible fixed assets22/27€899k€866k▼
Land and buildings22€805k€793k▼
Plant, machinery and equipment23€79k€70k▼
Furniture and vehicles24€7k€3k▼
Assets under construction and advance payments27€8k-
Current assets29/58€618k€736k▲
Stocks and contracts in progress3€49k€59k▲
Stocks30/36€49k€59k▲
Amounts receivable within one year40/41€13k€415k▲
Trade receivables40€2k€14k▲
Other amounts receivable41€11k€401k▲
Cash at bank and in hand54/58€551k€255k▼
Deferred charges and accrued income490/1€4k€6k▲
Equity and liabilities
Total equity and liabilities10/49€1.52M€1.60M▲
Equity10/15€1.25M€1.37M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€1.12M€1.24M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€1.11M€1.23M▲
Profit (loss) carried forward14€66k€72k▲
Amounts payable17/49€271k€232k▼
Amounts payable after more than one year17€95k€73k▼
Financial debts170/4€95k€73k▼
Amounts payable within one year42/48€176k€159k▼
Current portion of amounts payable after more than one year42€28k€22k▼
Trade debts44€28k€32k▲
Suppliers440/4€28k€32k▲
Taxes, remuneration and social security45€108k€92k▼
Taxes450/3€62k€45k▼
Remuneration and social security454/9€46k€47k▲
Other amounts payable47/48€12k€14k▲
Income statement
Code20232024
Remuneration, social security and pensions62€586k€604k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€65k▼
Other operating charges640/8€11k€11k▲
Gross operating margin9900€1.00M€1.02M▲
Operating profit (loss)9901€340k€341k▲
Financial income75/76B€6k€15k▲
Recurring financial income75€6k€15k▲
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€343k€353k▲
Income taxes67/77€107k€107k=
Profit (loss) for the period9904€236k€246k▲
Profit (loss) for the period to be appropriated9905€236k€246k▲
Appropriation of the result
Profit (loss) to be appropriated9906€301k€312k▲
Profit (loss) brought forward from the previous period14P€65k€66k▲
Transfer from equity791/2€49k€123k▲
Transfer to equity691/2€235k€240k▲
To other reserves6921€235k€240k▲
Profit to be distributed694/7€49k€123k▲
Return on contributions (dividend)694€49k€123k▲
Social balance
Average headcount (FTE)908714.713.2▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €479k | €530k | €586k | €604k | ▲ 3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89k | €93k | €75k | €65k | €65k | ▼ 1.0% |
| Other operating charges640/8 | - | €10k | €11k | €11k | €11k | ▲ 1.8% |
| Gross operating margin9900 | €818k | €856k | €790k | €1.00M | €1.02M | ▲ 1.8% |
| Operating profit (loss)9901 | €247k | €274k | €174k | €340k | €341k | ▲ 0.4% |
| Financial income75/76B | - | €3k | €3k | €6k | €15k | ▲ 172% |
| Recurring financial income75 | €3k | €3k | €3k | €6k | €15k | ▲ 172% |
| Financial charges65/66B | - | €4k | €3k | €3k | €3k | ▲ 6.7% |
| Recurring financial charges65 | €5k | €4k | €3k | €3k | €3k | ▲ 6.7% |
| Profit (loss) for the period before taxes9903 | €245k | €273k | €175k | €343k | €353k | ▲ 3.1% |
| Income taxes67/77 | €89k | €99k | €50k | €107k | €107k | = |
| Profit (loss) for the period9904 | €156k | €174k | €125k | €236k | €246k | ▲ 4.5% |
| Transfer from tax-exempt reserves789 | - | €69k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €296k | €243k | €125k | €236k | €246k | ▲ 4.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.40M | €1.34M | €1.38M | €1.52M | €1.60M | ▲ 5.6% |
| Fixed assets21/28 | €1.04M | €949k | €897k | €899k | €866k | ▼ 3.7% |
| Tangible fixed assets22/27 | €1.04M | €949k | €897k | €899k | €866k | ▼ 3.7% |
| Land and buildings22 | - | €893k | €849k | €805k | €793k | ▼ 1.5% |
| Plant, machinery and equipment23 | - | €56k | €48k | €79k | €70k | ▼ 12.1% |
| Furniture and vehicles24 | - | €209 | €99 | €7k | €3k | ▼ 55.0% |
| Assets under construction and advance payments27 | - | - | - | €8k | - | - |
| Financial fixed assets28 | €124 | €124 | - | - | - | - |
| Current assets29/58 | €357k | €391k | €479k | €618k | €736k | ▲ 19.2% |
| Stocks and contracts in progress3 | €35k | €50k | €44k | €49k | €59k | ▲ 21.6% |
| Stocks30/36 | - | €50k | €44k | €49k | €59k | ▲ 21.6% |
| Amounts receivable within one year40/41 | €3k | €2k | €13k | €13k | €415k | ▲ 3,015% |
| Trade receivables40 | - | €1k | €2k | €2k | €14k | ▲ 613% |
| Other amounts receivable41 | - | €720 | €11k | €11k | €401k | ▲ 3,429% |
| Cash at bank and in hand54/58 | €318k | €335k | €419k | €551k | €255k | ▼ 53.7% |
| Deferred charges and accrued income490/1 | - | €3k | €2k | €4k | €6k | ▲ 42.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.40M | €1.34M | €1.38M | €1.52M | €1.60M | ▲ 5.6% |
| Equity10/15 | €1.01M | €1.01M | €1.06M | €1.25M | €1.37M | ▲ 9.9% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €882k | €887k | €933k | €1.12M | €1.24M | ▲ 10.4% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €881k | €926k | €1.11M | €1.23M | ▲ 10.5% |
| Profit (loss) carried forward14 | €62k | €65k | €65k | €66k | €72k | ▲ 9.7% |
| Amounts payable17/49 | €392k | €326k | €316k | €271k | €232k | ▼ 14.1% |
| Amounts payable after more than one year17 | €201k | €150k | €123k | €95k | €73k | ▼ 22.9% |
| Financial debts170/4 | - | €150k | €123k | €95k | €73k | ▼ 22.9% |
| Amounts payable within one year42/48 | €191k | €175k | €193k | €176k | €159k | ▼ 9.4% |
| Current portion of amounts payable after more than one year42 | - | €51k | €28k | €28k | €22k | ▼ 22.8% |
| Trade debts44 | €17k | €18k | €14k | €28k | €32k | ▲ 13.1% |
| Suppliers440/4 | - | €18k | €14k | €28k | €32k | ▲ 13.1% |
| Taxes, remuneration and social security45 | - | €98k | €143k | €108k | €92k | ▼ 15.1% |
| Taxes450/3 | - | €77k | €81k | €62k | €45k | ▼ 27.2% |
| Remuneration and social security454/9 | - | €21k | €62k | €46k | €47k | ▲ 1.1% |
| Other amounts payable47/48 | - | €9k | €9k | €12k | €14k | ▲ 20.9% |
| Accrued charges and deferred income492/3 | - | €74 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €156k | €174k | €125k | €236k | €246k | ▲ 4.5% |
| + Depreciation and write-downs630 | €89k | €93k | €75k | €65k | €65k | ▼ 1.0% |
| Operating cash flow (approximation) | €245k | €267k | €200k | €301k | €311k | ▲ 3.3% |
| Investment in fixed assets (approximation) | - | €-2k | €-23k | €-67k | €-31k | ▲ 53.7% |
| Change in cash | - | €17k | €84k | €132k | €-296k | ▼ 324% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
04-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 35 days late
2024
31-12
Financial
Highest result since 2018net €246k ▲4.5%
Operating result €341k, net result €246k, both a record.
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 67 days late
2023
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 64 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 78 days late
2021
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 86 days late
2020
31-12
Financial
Equity above €1MEq €1.01M ▲13.4%
3 profitable years in a row build equity to €1.01M.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €61k ▼50.2%
Net result drops to €61k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
07-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Grimbergen · 1 establishment unit since 1983
Ground area
796 m²
Building footprint
298 m²
Volume, LiDAR
2,593 m³
Parcel 23084A0368/00L003, Flanders · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Sint-Annalaan 30, 1853 Grimbergen
since 19832.023.418.416
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084A0368/00L003 | Flanders | 796 m² | 1 · 298 m² | 12.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 486 EUR awarded · 486 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 486 EUR | 486 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteGrimbergen2.023.418.416
Dual-learning approval
1 endedBrood- en banketbakkerij duaal (so)
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Of 4,227 companies in sector 10712 we hold annual accounts for 1,870. 759 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-11-1983
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
Scores and ratios are computed by Checked and are not a credit decision.