DAVID MALKA: 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.
DAVID MALKA
Largest movements
- Cash +€9,685
up €9,685 (+23.7%), from €40,891 to €50,576
mainly Other debts (+€8,672) and Receivables within one year (+€3,845)
- Receivables within one year -€3,845
down €3,845 (-29.6%), from €13,004 to €9,159
of which Trade receivables: -€4,494
- Tangible fixed assets -€640
down €640 (-72.2%), from €886 to €247
- Other debts +€8,672
up €8,672 (+306.7%), from €2,828 to €11,500
- Profit (loss) carried forward -€1,807
down €1,807 (-5.2%), from €34,944 to €33,137
- Tax, wage and social debts -€1,267
down €1,267 (-11.4%), from €11,135 to €9,869
- Gross operating margin -€4,982
down €4,982 (-77.5%), from €6,431 to €1,448
- Depreciation -€1,370
down €1,370 (-68.2%), from €2,009 to €640
- Taxes -€1,011
down €1,011 (-54.3%), from €1,862 to €851
- Other operating charges +€807
new in 2025: €807
- Financial charges -€403
down €403 (-76.4%), from €527 to €124
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 | €55,100 | €60,257 | +€5,156 | +9.4% |
| Fixed assets | 21/28 | €886 | €247 | -€640 | -72.2% |
| Tangible fixed assets | 22/27 | €886 | €247 | -€640 | -72.2% |
| Furniture and vehicles | 24 | €886 | €247 | -€640 | -72.2% |
| Current assets | 29/58 | €54,214 | €60,010 | +€5,796 | +10.7% |
| Amounts receivable within one year | 40/41 | €13,004 | €9,159 | -€3,845 | -29.6% |
| Trade receivables | 40 | €13,004 | €8,510 | -€4,494 | -34.6% |
| Other amounts receivable | 41 | - | €649 | +€649 | |
| Cash at bank and in hand | 54/58 | €40,891 | €50,576 | +€9,685 | +23.7% |
| Deferred charges and accrued income | 490/1 | €319 | €274 | -€45 | -14.0% |
| Total equity and liabilities | 10/49 | €55,100 | €60,257 | +€5,156 | +9.4% |
| Equity | 10/15 | €38,644 | €36,837 | -€1,807 | -4.7% |
| Contributions | 10/11 | €3,700 | €3,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,944 | €33,137 | -€1,807 | -5.2% |
| Amounts payable | 17/49 | €16,457 | €23,420 | +€6,963 | +42.3% |
| Amounts payable within one year | 42/48 | €16,457 | €23,420 | +€6,963 | +42.3% |
| Trade debts | 44 | €2,494 | €2,051 | -€443 | -17.8% |
| Suppliers | 440/4 | €2,494 | €2,051 | -€443 | -17.8% |
| Taxes, remuneration and social security | 45 | €11,135 | €9,869 | -€1,267 | -11.4% |
| Taxes | 450/3 | €11,135 | €9,869 | -€1,267 | -11.4% |
| Other amounts payable | 47/48 | €2,828 | €11,500 | +€8,672 | +306.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,009 | €640 | -€1,370 | -68.2% |
| Other operating charges | 640/8 | - | €807 | +€807 | |
| Gross operating margin | 9900 | €6,431 | €1,448 | -€4,982 | -77.5% |
| Operating profit (loss) | 9901 | €4,421 | €2 | -€4,420 | -100.0% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €527 | €124 | -€403 | -76.4% |
| Recurring financial charges | 65 | €527 | €124 | -€403 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €3,900 | -€123 | -€4,022 | |
| Income taxes | 67/77 | €1,862 | €851 | -€1,011 | -54.3% |
| Profit (loss) for the period | 9904 | €2,038 | -€974 | -€3,011 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,038 | -€974 | -€3,011 |
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 1 October 2026 via checked.be.