MALA MANAGEMENT: 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.
MALA MANAGEMENT
Largest movements
- Current investments -€52,250
no longer reported in 2025 (was €52,250)
- Cash -€7,744
down €7,744 (-6.4%), from €121,943 to €114,200
mainly Contributions, distributions and other (-€175,846) and Trade debts (-€21,353)
- Receivables within one year -€4,593
down €4,593 (-11.6%), from €39,494 to €34,902
of which Trade receivables: -€13,722
- Reserves -€95,884
no longer reported in 2025 (was €95,884)
- Other debts +€55,091
up €55,091 (+93.7%), from €58,824 to €113,914
- Trade debts -€21,353
down €21,353 (-83.4%), from €25,592 to €4,239
- Tax, wage and social debts -€3,025
down €3,025 (-19.3%), from €15,661 to €12,636
- Gross operating margin -€19,365
down €19,365 (-11.7%), from €165,056 to €145,691
- Financial income +€5,758
up €5,758 (+608%), from €947 to €6,705
- Taxes -€5,686
down €5,686 (-22.0%), from €25,874 to €20,188
- Staff costs +€3,357
up €3,357 (+7.4%), from €45,196 to €48,554
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 | €214,560 | €149,389 | -€65,171 | -30.4% |
| Fixed assets | 21/28 | €721 | - | -€721 | |
| Tangible fixed assets | 22/27 | €721 | - | -€721 | |
| Plant, machinery and equipment | 23 | €721 | - | -€721 | |
| Current assets | 29/58 | €213,839 | €149,389 | -€64,450 | -30.1% |
| Amounts receivable within one year | 40/41 | €39,494 | €34,902 | -€4,593 | -11.6% |
| Trade receivables | 40 | €23,656 | €9,934 | -€13,722 | -58.0% |
| Other amounts receivable | 41 | €15,838 | €24,967 | +€9,129 | +57.6% |
| Current investments | 50/53 | €52,250 | - | -€52,250 | |
| Cash at bank and in hand | 54/58 | €121,943 | €114,200 | -€7,744 | -6.4% |
| Deferred charges and accrued income | 490/1 | €151 | €288 | +€137 | +90.3% |
| Total equity and liabilities | 10/49 | €214,560 | €149,389 | -€65,171 | -30.4% |
| Equity | 10/15 | €114,484 | €18,600 | -€95,884 | -83.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €95,884 | - | -€95,884 | |
| Distributable reserves | 133 | €95,884 | - | -€95,884 | |
| Amounts payable | 17/49 | €100,076 | €130,789 | +€30,713 | +30.7% |
| Amounts payable within one year | 42/48 | €100,076 | €130,789 | +€30,713 | +30.7% |
| Trade debts | 44 | €25,592 | €4,239 | -€21,353 | -83.4% |
| Suppliers | 440/4 | €25,592 | €4,239 | -€21,353 | -83.4% |
| Taxes, remuneration and social security | 45 | €15,661 | €12,636 | -€3,025 | -19.3% |
| Taxes | 450/3 | €15,661 | €12,636 | -€3,025 | -19.3% |
| Other amounts payable | 47/48 | €58,824 | €113,914 | +€55,091 | +93.7% |
| Remuneration, social security and pensions | 62 | €45,196 | €48,554 | +€3,357 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,029 | €721 | -€308 | -29.9% |
| Other operating charges | 640/8 | €642 | €658 | +€16 | +2.5% |
| Gross operating margin | 9900 | €165,056 | €145,691 | -€19,365 | -11.7% |
| Operating profit (loss) | 9901 | €118,188 | €95,757 | -€22,431 | -19.0% |
| Financial income | 75/76B | €947 | €6,705 | +€5,758 | +608% |
| Recurring financial income | 75 | €947 | €6,705 | +€5,758 | +608% |
| Financial charges | 65/66B | €2,480 | €2,312 | -€169 | -6.8% |
| Recurring financial charges | 65 | €2,480 | €2,312 | -€169 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €116,655 | €100,151 | -€16,504 | -14.1% |
| Income taxes | 67/77 | €25,874 | €20,188 | -€5,686 | -22.0% |
| Profit (loss) for the period | 9904 | €90,780 | €79,962 | -€10,818 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,780 | €79,962 | -€10,818 | -11.9% |
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 22 October 2026 via checked.be.