Maluar
ActiveSummary
Maluar has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6k and a net result of €247k. Equity is shrinking by ~21.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-15
Solvency25▼-75
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 2025Solvency, return and age of the figures
Solvency
0.5%
Return on assets
18.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-05-2026, 72 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
72 d early
2024
99 d early
2023
97 d early
2022
109 d early
2021
93 d early
2020
89 d early
2019
38 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€6k▼ 97.2%
2024 · €219k
2019: €699k
2020: €538k▼ -23.0% vs 2019
2021: €682k▲ +26.8% vs 2020
2022: €995k▲ +45.9% vs 2021highest in 7 years
2023: €400k▼ -59.8% vs 2022
2024: €219k▼ -45.2% vs 2023
2025: €6k▼ -97.2% vs 2024lowest in 7 years
2019 → 2025
Total assets
€1.31M▲ 498%
2024 · €220k
2019: €793k
2020: €954k▲ +20.3% vs 2019
2021: €684k▼ -28.3% vs 2020
2022: €1.00M▲ +46.4% vs 2021
2023: €401k▼ -60.0% vs 2022
2024: €220k▼ -45.2% vs 2023lowest in 7 years
2025: €1.31M▲ +498% vs 2024highest in 7 years
2019 → 2025
Net result
€247k▼ 8.2%
2024 · €269k
2019: €177klowest in 7 years
2020: €239k▲ +35.5% vs 2019
2021: €444k▲ +85.4% vs 2020
2022: €513k▲ +15.5% vs 2021highest in 7 years
2023: €404k▼ -21.2% vs 2022
2024: €269k▼ -33.4% vs 2023
2025: €247k▼ -8.2% vs 2024
2019 → 2025
Working capital
€-177k
2024 · €96k
2019: €687k
2020: €526k▼ -23.4% vs 2019
2021: €676k▲ +28.5% vs 2020
2022: €938k▲ +38.7% vs 2021highest in 7 years
2023: €292k▼ -68.8% vs 2022
2024: €96k▼ -67.1% vs 2023
2025: €-177k▼ -284% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€682k-€995k▲ 45.9%€400k▼ 59.8%€219k▼ 45.2%€6k▼ 97.2%
2021: €682k
2022: €995k▲ +45.9% vs 2021highest in 5 years
2023: €400k▼ -59.8% vs 2022
2024: €219k▼ -45.2% vs 2023
2025: €6k▼ -97.2% vs 2024lowest in 5 years
Operating result€587k-€653k▲ 11.2%€527k▼ 19.4%€352k▼ 33.3%€333k▼ 5.2%
2021: €587k
2022: €653k▲ +11.2% vs 2021highest in 5 years
2023: €527k▼ -19.4% vs 2022
2024: €352k▼ -33.3% vs 2023
2025: €333k▼ -5.2% vs 2024lowest in 5 years
Net result€444k-€513k▲ 15.5%€404k▼ 21.2%€269k▼ 33.4%€247k▼ 8.2%
2021: €444k
2022: €513k▲ +15.5% vs 2021highest in 5 years
2023: €404k▼ -21.2% vs 2022
2024: €269k▼ -33.4% vs 2023
2025: €247k▼ -8.2% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 5% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.31M
Fixed assets
€1.20M ▲ 876%
Current assets
€116k ▲ 19.8%
Equity and liabilities €1.31M
Equity
€6k ▼ 97.2%
Debt
€1.31M ▲ 214,303%
Debt's share of the balance-sheet total rises from 0.3% to 99.5%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.40
ROA
18.8%▼
2024 · 122.6%
Debt ≤ 1 year
€293k▲
2024 · €610
Debt > 1 year
€1.01M
Income taxes
€84k▲
2024 · €82k
A ratio outside any meaningful range has been withheld (balance sheet total €1.31M, equity €6k).
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 · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€220k€1.31M▲
Fixed assets21/28€123k€1.20M▲
Tangible fixed assets22/27€23k€128k▲
Assets under construction and advance payments27€23k€128k▲
Financial fixed assets28€100k€1.07M▲
Current assets29/58€97k€116k▲
Amounts receivable within one year40/41€2k€3k▲
Trade receivables40-€3k
Other amounts receivable41€2k€745▼
Current investments50/53€5k-
Cash at bank and in hand54/58€89k€109k▲
Deferred charges and accrued income490/1€177€3k▲
Equity and liabilities
Total equity and liabilities10/49€220k€1.31M▲
Equity10/15€219k€6k▼
Contributions10/11€19k€6k▼
Reserves13€2k€79▼
Distributable reserves133€2k€79▼
Profit (loss) carried forward14€199k-
Amounts payable17/49€610€1.31M▲
Amounts payable after more than one year17-€1.01M
Financial debts170/4-€115k
Other amounts payable178/9-€900k
Amounts payable within one year42/48€610€293k▲
Trade debts44€590€4k▲
Suppliers440/4€590€4k▲
Taxes, remuneration and social security45€20-
Taxes450/3€20-
Other amounts payable47/48-€289k
Accrued charges and deferred income492/3-€273
Income statement
Code20242025
Non-recurring operating income76A€23k€45▼
Other operating charges640/8€263€667▲
Gross operating margin9900€352k€334k▼
Operating profit (loss)9901€352k€333k▼
Financial income75/76B€45€45=
Recurring financial income75€45€45=
Financial charges65/66B€181€2k▲
Recurring financial charges65€181€2k▲
Profit (loss) for the period before taxes9903€351k€331k▼
Income taxes67/77€82k€84k▲
Profit (loss) for the period9904€269k€247k▼
Profit (loss) for the period to be appropriated9905€269k€247k▼
Appropriation of the result
Profit (loss) to be appropriated9906€649k€446k▼
Profit (loss) brought forward from the previous period14P€379k€199k▼
Transfer from equity791/2-€14k
Profit to be distributed694/7€450k€460k▲
Return on contributions (dividend)694€450k€460k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €23k | €45 | ▼ 99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €555 | €46 | - | - | - |
| Other operating charges640/8 | - | €11 | €13 | €263 | €667 | ▲ 154% |
| Gross operating margin9900 | €600k | €654k | €527k | €352k | €334k | ▼ 5.1% |
| Operating profit (loss)9901 | €587k | €653k | €527k | €352k | €333k | ▼ 5.2% |
| Financial income75/76B | €3k | €30k | €11k | €45 | €45 | = |
| Recurring financial income75 | €3k | €30k | €11k | €45 | €45 | = |
| Financial charges65/66B | €755 | €1k | €2k | €181 | €2k | ▲ 1,109% |
| Recurring financial charges65 | €755 | €1k | €2k | €181 | €2k | ▲ 1,109% |
| Profit (loss) for the period before taxes9903 | €589k | €682k | €535k | €351k | €331k | ▼ 5.8% |
| Income taxes67/77 | €145k | €169k | €131k | €82k | €84k | ▲ 2.3% |
| Profit (loss) for the period9904 | €444k | €513k | €404k | €269k | €247k | ▼ 8.2% |
| Profit (loss) for the period to be appropriated9905 | €444k | €513k | €404k | €269k | €247k | ▼ 8.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €684k | €1.00M | €401k | €220k | €1.31M | ▲ 498% |
| Fixed assets21/28 | €6k | €57k | €107k | €123k | €1.20M | ▲ 876% |
| Tangible fixed assets22/27 | €6k | €7k | €7k | €23k | €128k | ▲ 463% |
| Furniture and vehicles24 | €601 | €46 | - | - | - | - |
| Assets under construction and advance payments27 | €6k | €7k | €7k | €23k | €128k | ▲ 463% |
| Financial fixed assets28 | - | €50k | €100k | €100k | €1.07M | ▲ 970% |
| Current assets29/58 | €678k | €944k | €294k | €97k | €116k | ▲ 19.8% |
| Amounts receivable within one year40/41 | €93k | €42k | €20 | €2k | €3k | ▲ 54.9% |
| Trade receivables40 | €63k | €11k | - | - | €3k | - |
| Other amounts receivable41 | €30k | €30k | €20 | €2k | €745 | ▼ 66.4% |
| Current investments50/53 | €277k | €326k | €5k | €5k | - | - |
| Cash at bank and in hand54/58 | €306k | €576k | €287k | €89k | €109k | ▲ 22.4% |
| Deferred charges and accrued income490/1 | €2k | €525 | €1k | €177 | €3k | ▲ 1,698% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €684k | €1.00M | €401k | €220k | €1.31M | ▲ 498% |
| Equity10/15 | €682k | €995k | €400k | €219k | €6k | ▼ 97.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €6k | ▼ 67.7% |
| Capital10 | - | €19k | - | - | - | - |
| Issued capital100 | - | €19k | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €79 | ▼ 95.8% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Legal reserve130 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | - | - | - | - | - |
| Distributable reserves133 | - | - | €2k | €2k | €79 | ▼ 95.8% |
| Profit (loss) carried forward14 | €662k | €975k | €379k | €199k | - | - |
| Amounts payable17/49 | €2k | €6k | €1k | €610 | €1.31M | ▲ 214,303% |
| Amounts payable after more than one year17 | - | - | - | - | €1.01M | - |
| Financial debts170/4 | - | - | - | - | €115k | - |
| Other amounts payable178/9 | - | - | - | - | €900k | - |
| Amounts payable within one year42/48 | €2k | €6k | €1k | €610 | €293k | ▲ 47,881% |
| Financial debts43 | €1k | - | - | - | - | - |
| Credit institutions430/8 | €1k | - | - | - | - | - |
| Trade debts44 | €398 | €492 | €549 | €590 | €4k | ▲ 609% |
| Suppliers440/4 | €398 | €492 | €549 | €590 | €4k | ▲ 609% |
| Taxes, remuneration and social security45 | €315 | €6k | €699 | €20 | - | - |
| Taxes450/3 | €315 | €6k | €699 | €20 | - | - |
| Other amounts payable47/48 | - | - | - | - | €289k | - |
| Accrued charges and deferred income492/3 | - | - | €1 | - | €273 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €444k | €513k | €404k | €269k | €247k | ▼ 8.2% |
| + Depreciation and write-downs630 | €13k | €555 | €46 | - | - | - |
| Operating cash flow (approximation) | €457k | €513k | €404k | €269k | €247k | ▼ 8.2% |
| Investment in fixed assets (approximation) | - | €-52k | €-50k | €-16k | €-1.08M | ▼ 6,828% |
| Change in cash | - | €270k | €-289k | €-198k | €20k | ▲ 110% |
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
Next filing, fiscal year 2026, expected by
2026
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €513k ▲15.5%
Operating result €653k, net result €513k, both a record.
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 159current ratio 361.04
Current ratio from 2.27 to 361.04; short-term debt falls from €415k to €2k.
03-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Sint-Martens-Latem · 1 establishment unit since 2016
Ground area
1,545 m²
Building footprint
189 m²
Volume, LiDAR
749 m³
Parcel 44064A0107/00G000, Flanders · tallest building 5.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Maluar
since 20162.249.539.668
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064A0107/00G000 | Flanders | 1,544 m² | 1 · 189 m² | 5.6 m · 1 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
2024 · 1 entry · 614 EUR awarded · 614 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 614 EUR | 614 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 17,503 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-01-2016
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.