LE MALIBRAN: 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.
LE MALIBRAN
Largest movements
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Tangible fixed assets -€15,172
no longer reported in 2025 (was €15,172)
of which Leasing and similar rights: -€10,482
- Stocks and contracts -€6,515
no longer reported in 2025 (was €6,515)
- Cash +€4,668
up €4,668 (+5,922%), from €79 to €4,747
- Financial fixed assets -€1,906
no longer reported in 2025 (was €1,906)
- Profit (loss) carried forward -€18,171
down €18,171 (-187%), from -€9,698 to -€27,869
- Tax, wage and social debts -€16,039
down €16,039 (-99.9%), from €16,049 to €10
of which Remuneration and social security: -€9,271
- Contributions +€6,800
up €6,800 (+55.7%), from €12,200 to €19,000
- Debts after one year -€4,699
no longer reported in 2025 (was €4,699)
- Trade debts -€3,987
down €3,987 (-92.5%), from €4,312 to €325
- Staff costs -€50,111
no longer reported in 2025 (was €50,111)
- Gross operating margin -€39,887
down €39,887, from €34,886 to -€5,001
- Depreciation -€5,548
no longer reported in 2025 (was €5,548)
- Financial charges -€3,931
down €3,931 (-85.8%), from €4,580 to €649
- Financial income -€708
no longer reported in 2025 (was €708)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,641 | €7,816 | -€38,825 | -83.2% |
| Fixed assets | 21/28 | €17,077 | - | -€17,077 | |
| Tangible fixed assets | 22/27 | €15,172 | - | -€15,172 | |
| Furniture and vehicles | 24 | €1,527 | - | -€1,527 | |
| Leasing and similar rights | 25 | €10,482 | - | -€10,482 | |
| Other tangible fixed assets | 26 | €3,163 | - | -€3,163 | |
| Financial fixed assets | 28 | €1,906 | - | -€1,906 | |
| Current assets | 29/58 | €29,564 | €7,816 | -€21,748 | -73.6% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 291 | €20,000 | - | -€20,000 | |
| Stocks and contracts in progress | 3 | €6,515 | - | -€6,515 | |
| Stocks | 30/36 | €6,515 | - | -€6,515 | |
| Amounts receivable within one year | 40/41 | €2,852 | €3,069 | +€217 | +7.6% |
| Trade receivables | 40 | - | €393 | +€393 | |
| Other amounts receivable | 41 | €2,852 | €2,675 | -€177 | -6.2% |
| Cash at bank and in hand | 54/58 | €79 | €4,747 | +€4,668 | +5,922% |
| Deferred charges and accrued income | 490/1 | €118 | - | -€118 | |
| Total equity and liabilities | 10/49 | €46,641 | €7,816 | -€38,825 | -83.2% |
| Equity | 10/15 | €14,502 | €3,131 | -€11,371 | -78.4% |
| Contributions | 10/11 | €12,200 | €19,000 | +€6,800 | +55.7% |
| Contributions outside capital | 11 | €12,200 | - | -€12,200 | |
| Other | 1109/19 | €12,200 | - | -€12,200 | |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,100 | €10,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,698 | -€27,869 | -€18,171 | -187% |
| Amounts payable | 17/49 | €32,139 | €4,684 | -€27,454 | -85.4% |
| Amounts payable after more than one year | 17 | €4,699 | - | -€4,699 | |
| Financial debts | 170/4 | €4,699 | - | -€4,699 | |
| Amounts payable within one year | 42/48 | €27,440 | €4,684 | -€22,756 | -82.9% |
| Current portion of amounts payable after more than one year | 42 | €3,093 | - | -€3,093 | |
| Financial debts | 43 | €2,356 | - | -€2,356 | |
| Credit institutions | 430/8 | €2,356 | - | -€2,356 | |
| Trade debts | 44 | €4,312 | €325 | -€3,987 | -92.5% |
| Suppliers | 440/4 | €4,312 | €325 | -€3,987 | -92.5% |
| Taxes, remuneration and social security | 45 | €16,049 | €10 | -€16,039 | -99.9% |
| Taxes | 450/3 | €6,778 | €10 | -€6,768 | -99.9% |
| Remuneration and social security | 454/9 | €9,271 | - | -€9,271 | |
| Other amounts payable | 47/48 | €1,630 | €4,349 | +€2,719 | +167% |
| Remuneration, social security and pensions | 62 | €50,111 | - | -€50,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,548 | - | -€5,548 | |
| Other operating charges | 640/8 | €2,009 | €1,750 | -€259 | -12.9% |
| Gross operating margin | 9900 | €34,886 | -€5,001 | -€39,887 | |
| Operating profit (loss) | 9901 | -€22,783 | -€6,752 | +€16,031 | +70.4% |
| Financial income | 75/76B | €708 | - | -€708 | |
| Recurring financial income | 75 | €708 | - | -€708 | |
| Financial charges | 65/66B | €4,580 | €649 | -€3,931 | -85.8% |
| Recurring financial charges | 65 | €4,580 | €649 | -€3,931 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,655 | -€7,400 | +€19,255 | +72.2% |
| Income taxes | 67/77 | €131 | €0 | -€131 | -99.9% |
| Profit (loss) for the period | 9904 | -€26,786 | -€7,400 | +€19,386 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,786 | -€7,400 | +€19,386 | +72.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.