JACQUES MALHERBE, AVOCAT: 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.
JACQUES MALHERBE, AVOCAT
Largest movements
- Cash +€118,796
up €118,796 (+16.1%), from €736,511 to €855,306
mainly Net result for the year (+€146,939) and Current investments (+€47,603)
- Profit (loss) carried forward +€146,939
up €146,939 (+5.6%), from €2.6m to €2.8m
- Reserves -€140,000
down €140,000 (-7.5%), from €1.9m to €1.7m
of which Distributable reserves: -€140,000
- Financial income -€86,306
down €86,306 (-51.1%), from €169,031 to €82,726
- Gross operating margin -€70,602
down €70,602 (-26.2%), from €268,972 to €198,370
- Financial charges -€66,766
down €66,766 (-74.5%), from €89,571 to €22,805
- Taxes -€29,242
down €29,242 (-28.3%), from €103,196 to €73,954
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 | €5,618,138 | €5,654,828 | +€36,690 | +0.7% |
| Fixed assets | 21/28 | €1,087,812 | €1,055,653 | -€32,159 | -3.0% |
| Tangible fixed assets | 22/27 | €1,087,742 | €1,055,584 | -€32,159 | -3.0% |
| Land and buildings | 22 | €1,066,953 | €1,034,758 | -€32,195 | -3.0% |
| Furniture and vehicles | 24 | €2,534 | €994 | -€1,540 | -60.8% |
| Other tangible fixed assets | 26 | €18,256 | €19,832 | +€1,576 | +8.6% |
| Financial fixed assets | 28 | €69 | €69 | = | 0.0% |
| Current assets | 29/58 | €4,530,327 | €4,599,176 | +€68,849 | +1.5% |
| Amounts receivable within one year | 40/41 | €68,378 | €63,161 | -€5,217 | -7.6% |
| Trade receivables | 40 | €65,577 | €59,579 | -€5,998 | -9.1% |
| Other amounts receivable | 41 | €2,802 | €3,583 | +€781 | +27.9% |
| Current investments | 50/53 | €3,721,781 | €3,674,179 | -€47,603 | -1.3% |
| Cash at bank and in hand | 54/58 | €736,511 | €855,306 | +€118,796 | +16.1% |
| Deferred charges and accrued income | 490/1 | €3,657 | €6,529 | +€2,873 | +78.6% |
| Total equity and liabilities | 10/49 | €5,618,138 | €5,654,828 | +€36,690 | +0.7% |
| Equity | 10/15 | €5,496,015 | €5,502,955 | +€6,939 | +0.1% |
| Contributions | 10/11 | €997,187 | €997,187 | = | 0.0% |
| Reserves | 13 | €1,863,919 | €1,723,919 | -€140,000 | -7.5% |
| Non-distributable reserves | 130/1 | €163,919 | €163,919 | = | 0.0% |
| Reserves not available under the articles | 1311 | €163,919 | €163,919 | = | 0.0% |
| Distributable reserves | 133 | €1,700,000 | €1,560,000 | -€140,000 | -8.2% |
| Profit (loss) carried forward | 14 | €2,634,910 | €2,781,849 | +€146,939 | +5.6% |
| Amounts payable | 17/49 | €122,123 | €151,874 | +€29,751 | +24.4% |
| Amounts payable within one year | 42/48 | €122,123 | €151,874 | +€29,751 | +24.4% |
| Trade debts | 44 | €0 | €4,971 | +€4,971 | |
| Suppliers | 440/4 | - | €4,971 | +€4,971 | |
| Taxes, remuneration and social security | 45 | €15,096 | €7,000 | -€8,096 | -53.6% |
| Taxes | 450/3 | €15,096 | €7,000 | -€8,096 | -53.6% |
| Other amounts payable | 47/48 | €107,027 | €139,903 | +€32,875 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,581 | €36,399 | -€182 | -0.5% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €268,972 | €198,370 | -€70,602 | -26.2% |
| Operating profit (loss) | 9901 | €231,424 | €160,972 | -€70,451 | -30.4% |
| Financial income | 75/76B | €169,031 | €82,726 | -€86,306 | -51.1% |
| Recurring financial income | 75 | €169,031 | €82,726 | -€86,306 | -51.1% |
| Financial charges | 65/66B | €89,571 | €22,805 | -€66,766 | -74.5% |
| Recurring financial charges | 65 | €89,571 | €22,805 | -€66,766 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €310,884 | €220,893 | -€89,991 | -28.9% |
| Income taxes | 67/77 | €103,196 | €73,954 | -€29,242 | -28.3% |
| Profit (loss) for the period | 9904 | €207,688 | €146,939 | -€60,748 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €207,688 | €146,939 | -€60,748 | -29.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.