MALACORD GUY: 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.
MALACORD GUY
Largest movements
- Intangible fixed assets -€32,800
down €32,800 (-100.0%), from €32,800 to €0
- Stocks and contracts -€24,575
down €24,575 (-48.6%), from €50,555 to €25,980
- Cash +€14,777
new in 2025: €14,777
mainly Investment in fixed assets (net) (+€31,673) and Stocks and contracts (+€24,575)
- Tangible fixed assets -€7,170
down €7,170 (-20.8%), from €34,549 to €27,378
of which Furniture and vehicles: -€5,412
- Receivables within one year +€4,655
up €4,655 (+19.6%), from €23,770 to €28,425
of which Trade receivables: +€3,206
- Trade debts -€21,004
down €21,004 (-84.4%), from €24,890 to €3,886
- Profit (loss) carried forward -€9,538
down €9,538 (-102.2%), from -€9,332 to -€18,870
- Short-term financial debts -€8,151
down €8,151 (-33.4%), from €24,415 to €16,265
- Current portion of long-term debt -€3,051
down €3,051 (-55.9%), from €5,456 to €2,405
- Other debts -€3,000
down €3,000 (-3.9%), from €77,351 to €74,351
- Turnover -€61,693
down €61,693 (-17.0%), from €361,960 to €300,267
- Purchases and services -€57,007
down €57,007 (-24.1%), from €236,946 to €179,939
- Financial charges +€32,430
up €32,430 (+728.8%), from €4,450 to €36,880
of which Non-recurring financial charges: +€32,800
- Staff costs -€16,612
down €16,612 (-17.4%), from €95,541 to €78,929
- Other operating charges -€16,116
down €16,116 (-86.9%), from €18,548 to €2,432
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 | €141,674 | €96,561 | -€45,114 | -31.8% |
| Fixed assets | 21/28 | €67,349 | €27,378 | -€39,970 | -59.3% |
| Intangible fixed assets | 21 | €32,800 | €0 | -€32,800 | -100.0% |
| Tangible fixed assets | 22/27 | €34,549 | €27,378 | -€7,170 | -20.8% |
| Land and buildings | 22 | €26,765 | €25,608 | -€1,157 | -4.3% |
| Plant, machinery and equipment | 23 | €601 | - | -€601 | |
| Furniture and vehicles | 24 | €7,182 | €1,770 | -€5,412 | -75.4% |
| Current assets | 29/58 | €74,326 | €69,182 | -€5,143 | -6.9% |
| Stocks and contracts in progress | 3 | €50,555 | €25,980 | -€24,575 | -48.6% |
| Stocks | 30/36 | €50,555 | €25,980 | -€24,575 | -48.6% |
| Amounts receivable within one year | 40/41 | €23,770 | €28,425 | +€4,655 | +19.6% |
| Trade receivables | 40 | €13,828 | €17,034 | +€3,206 | +23.2% |
| Other amounts receivable | 41 | €9,942 | €11,391 | +€1,449 | +14.6% |
| Cash at bank and in hand | 54/58 | - | €14,777 | +€14,777 | |
| Total equity and liabilities | 10/49 | €141,674 | €96,561 | -€45,114 | -31.8% |
| Equity | 10/15 | -€2,735 | -€12,273 | -€9,538 | -348.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €397 | €397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €397 | €397 | = | 0.0% |
| Reserves not available under the articles | 1311 | €397 | €397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,332 | -€18,870 | -€9,538 | -102.2% |
| Amounts payable | 17/49 | €144,409 | €108,833 | -€35,576 | -24.6% |
| Amounts payable after more than one year | 17 | €2,447 | - | -€2,447 | |
| Financial debts | 170/4 | €2,447 | - | -€2,447 | |
| Amounts payable within one year | 42/48 | €141,962 | €108,833 | -€33,128 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €5,456 | €2,405 | -€3,051 | -55.9% |
| Financial debts | 43 | €24,415 | €16,265 | -€8,151 | -33.4% |
| Credit institutions | 430/8 | €24,415 | €16,265 | -€8,151 | -33.4% |
| Trade debts | 44 | €24,890 | €3,886 | -€21,004 | -84.4% |
| Suppliers | 440/4 | €24,890 | €3,886 | -€21,004 | -84.4% |
| Taxes, remuneration and social security | 45 | €9,850 | €11,928 | +€2,078 | +21.1% |
| Taxes | 450/3 | €4,716 | €8,044 | +€3,328 | +70.6% |
| Remuneration and social security | 454/9 | €5,134 | €3,884 | -€1,250 | -24.4% |
| Other amounts payable | 47/48 | €77,351 | €74,351 | -€3,000 | -3.9% |
| Turnover | 70 | €361,960 | €300,267 | -€61,693 | -17.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €236,946 | €179,939 | -€57,007 | -24.1% |
| Remuneration, social security and pensions | 62 | €95,541 | €78,929 | -€16,612 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,511 | €8,297 | -€214 | -2.5% |
| Other operating charges | 640/8 | €18,548 | €2,432 | -€16,116 | -86.9% |
| Gross operating margin | 9900 | €125,014 | €120,328 | -€4,686 | -3.7% |
| Operating profit (loss) | 9901 | €2,414 | €30,670 | +€28,256 | +1170.5% |
| Financial income | 75/76B | €2,521 | - | -€2,521 | |
| Recurring financial income | 75 | €2,521 | - | -€2,521 | |
| Financial charges | 65/66B | €4,450 | €36,880 | +€32,430 | +728.8% |
| Recurring financial charges | 65 | €4,450 | €4,080 | -€370 | -8.3% |
| Non-recurring financial charges | 66B | - | €32,800 | +€32,800 | |
| Profit (loss) for the period before taxes | 9903 | €485 | -€6,210 | -€6,695 | |
| Income taxes | 67/77 | - | €3,328 | +€3,328 | |
| Profit (loss) for the period | 9904 | €485 | -€9,538 | -€10,024 | |
| Profit (loss) for the period to be appropriated | 9905 | €485 | -€9,538 | -€10,024 |
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 9 October 2026 via checked.be.