ARCHITECT MARC MALFAIT: what changed
ARCHITECT MARC MALFAIT
Largest movements
- Cash -€93,971
down €93,971 (-33.7%), from €279,043 to €185,072
mainly Contributions, distributions and other (-€131,130) and Tax, wage and social debts (-€9,677)
- Receivables within one year -€16,309
down €16,309 (-61.1%), from €26,680 to €10,371
of which Trade receivables: -€20,489
- Reserves -€102,033
down €102,033 (-46.4%), from €219,720 to €117,687
- Tax, wage and social debts -€9,677
down €9,677 (-36.7%), from €26,366 to €16,689
- Other debts +€4,380
up €4,380 (+10.6%), from €41,363 to €45,743
- Gross operating margin -€17,369
down €17,369 (-32.1%), from €54,139 to €36,770
- Taxes -€8,438
down €8,438 (-45.3%), from €18,636 to €10,198
- Financial income +€658
up €658 (+55.6%), from €1,184 to €1,842
- Other operating charges +€648
up €648 (+393%), from €165 to €813
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €310,010 | €199,971 | -€110,039 | -35.5% |
| Fixed assets | 21/28 | €2,620 | €2,165 | -€455 | -17.4% |
| Tangible fixed assets | 22/27 | €2,620 | €2,165 | -€455 | -17.4% |
| Land and buildings | 22 | €1,437 | €1,193 | -€244 | -17.0% |
| Furniture and vehicles | 24 | €1,183 | €972 | -€211 | -17.8% |
| Current assets | 29/58 | €307,390 | €197,806 | -€109,584 | -35.6% |
| Amounts receivable within one year | 40/41 | €26,680 | €10,371 | -€16,309 | -61.1% |
| Trade receivables | 40 | €23,825 | €3,336 | -€20,489 | -86.0% |
| Other amounts receivable | 41 | €2,855 | €7,035 | +€4,180 | +146% |
| Cash at bank and in hand | 54/58 | €279,043 | €185,072 | -€93,971 | -33.7% |
| Deferred charges and accrued income | 490/1 | €1,667 | €2,363 | +€696 | +41.8% |
| Total equity and liabilities | 10/49 | €310,010 | €199,971 | -€110,039 | -35.5% |
| Equity | 10/15 | €234,367 | €130,087 | -€104,280 | -44.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €219,720 | €117,687 | -€102,033 | -46.4% |
| Distributable reserves | 133 | €219,720 | €117,687 | -€102,033 | -46.4% |
| Profit (loss) carried forward | 14 | €2,247 | - | -€2,247 | |
| Amounts payable | 17/49 | €75,643 | €69,884 | -€5,759 | -7.6% |
| Amounts payable within one year | 42/48 | €75,643 | €69,884 | -€5,759 | -7.6% |
| Trade debts | 44 | €7,914 | €7,452 | -€462 | -5.8% |
| Suppliers | 440/4 | €7,914 | €7,452 | -€462 | -5.8% |
| Taxes, remuneration and social security | 45 | €26,366 | €16,689 | -€9,677 | -36.7% |
| Taxes | 450/3 | €26,366 | €16,689 | -€9,677 | -36.7% |
| Other amounts payable | 47/48 | €41,363 | €45,743 | +€4,380 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | €455 | +€54 | +13.5% |
| Other operating charges | 640/8 | €165 | €813 | +€648 | +393% |
| Gross operating margin | 9900 | €54,139 | €36,770 | -€17,369 | -32.1% |
| Operating profit (loss) | 9901 | €53,573 | €35,502 | -€18,071 | -33.7% |
| Financial income | 75/76B | €1,184 | €1,842 | +€658 | +55.6% |
| Recurring financial income | 75 | €1,184 | €1,842 | +€658 | +55.6% |
| Financial charges | 65/66B | €192 | €296 | +€104 | +54.2% |
| Recurring financial charges | 65 | €192 | €296 | +€104 | +54.2% |
| Profit (loss) for the period before taxes | 9903 | €54,565 | €37,048 | -€17,517 | -32.1% |
| Income taxes | 67/77 | €18,636 | €10,198 | -€8,438 | -45.3% |
| Profit (loss) for the period | 9904 | €35,929 | €26,850 | -€9,079 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,929 | €26,850 | -€9,079 | -25.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.