MALAN: 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.
MALAN
Largest movements
- Receivables within one year +€402,039
up €402,039 (+3015.5%), from €13,333 to €415,371
of which Other amounts receivable: +€390,033
- Cash -€296,005
down €296,005 (-53.7%), from €551,371 to €255,366
mainly Receivables within one year (-€402,039) and Contributions, distributions and other (-€123,174)
- Tangible fixed assets -€33,444
down €33,444 (-3.7%), from €899,435 to €865,991
- Reserves +€116,826
up €116,826 (+10.4%), from €1.1m to €1.2m
of which Distributable reserves: +€116,826
- Debts after one year -€21,652
down €21,652 (-22.9%), from €94,597 to €72,945
- Tax, wage and social debts -€16,329
down €16,329 (-15.1%), from €108,210 to €91,880
of which Taxes: -€16,821
- Gross operating margin +€18,534
up €18,534 (+1.8%), from €1.0m to €1.0m
- Staff costs +€17,637
up €17,637 (+3.0%), from €586,103 to €603,740
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,517,090 | €1,602,046 | +€84,957 | +5.6% |
| Fixed assets | 21/28 | €899,435 | €865,991 | -€33,444 | -3.7% |
| Tangible fixed assets | 22/27 | €899,435 | €865,991 | -€33,444 | -3.7% |
| Land and buildings | 22 | €805,195 | €793,105 | -€12,090 | -1.5% |
| Plant, machinery and equipment | 23 | €79,094 | €69,560 | -€9,534 | -12.1% |
| Furniture and vehicles | 24 | €7,396 | €3,326 | -€4,071 | -55.0% |
| Assets under construction and advance payments | 27 | €7,749 | - | -€7,749 | |
| Current assets | 29/58 | €617,655 | €736,055 | +€118,400 | +19.2% |
| Stocks and contracts in progress | 3 | €48,549 | €59,048 | +€10,499 | +21.6% |
| Stocks | 30/36 | €48,549 | €59,048 | +€10,499 | +21.6% |
| Amounts receivable within one year | 40/41 | €13,333 | €415,371 | +€402,039 | +3015.5% |
| Trade receivables | 40 | €1,958 | €13,964 | +€12,006 | +613.2% |
| Other amounts receivable | 41 | €11,375 | €401,407 | +€390,033 | +3429.0% |
| Cash at bank and in hand | 54/58 | €551,371 | €255,366 | -€296,005 | -53.7% |
| Deferred charges and accrued income | 490/1 | €4,403 | €6,270 | +€1,868 | +42.4% |
| Total equity and liabilities | 10/49 | €1,517,090 | €1,602,046 | +€84,957 | +5.6% |
| Equity | 10/15 | €1,246,452 | €1,369,659 | +€123,207 | +9.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,118,504 | €1,235,331 | +€116,826 | +10.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,112,304 | €1,229,131 | +€116,826 | +10.5% |
| Profit (loss) carried forward | 14 | €65,948 | €72,329 | +€6,381 | +9.7% |
| Amounts payable | 17/49 | €270,637 | €232,387 | -€38,250 | -14.1% |
| Amounts payable after more than one year | 17 | €94,597 | €72,945 | -€21,652 | -22.9% |
| Financial debts | 170/4 | €94,597 | €72,945 | -€21,652 | -22.9% |
| Amounts payable within one year | 42/48 | €176,041 | €159,442 | -€16,599 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €28,064 | €21,652 | -€6,413 | -22.8% |
| Trade debts | 44 | €27,878 | €31,540 | +€3,662 | +13.1% |
| Suppliers | 440/4 | €27,878 | €31,540 | +€3,662 | +13.1% |
| Taxes, remuneration and social security | 45 | €108,210 | €91,880 | -€16,329 | -15.1% |
| Taxes | 450/3 | €61,898 | €45,078 | -€16,821 | -27.2% |
| Remuneration and social security | 454/9 | €46,311 | €46,802 | +€491 | +1.1% |
| Other amounts payable | 47/48 | €11,889 | €14,371 | +€2,482 | +20.9% |
| Remuneration, social security and pensions | 62 | €586,103 | €603,740 | +€17,637 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,336 | €64,699 | -€637 | -1.0% |
| Other operating charges | 640/8 | €11,188 | €11,393 | +€204 | +1.8% |
| Gross operating margin | 9900 | €1,002,476 | €1,021,009 | +€18,534 | +1.8% |
| Operating profit (loss) | 9901 | €339,849 | €341,178 | +€1,329 | +0.4% |
| Financial income | 75/76B | €5,548 | €15,112 | +€9,564 | +172.4% |
| Recurring financial income | 75 | €5,548 | €15,112 | +€9,564 | +172.4% |
| Financial charges | 65/66B | €2,703 | €2,886 | +€182 | +6.7% |
| Recurring financial charges | 65 | €2,703 | €2,886 | +€182 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €342,693 | €353,404 | +€10,711 | +3.1% |
| Income taxes | 67/77 | €106,977 | €107,024 | +€47 | 0.0% |
| Profit (loss) for the period | 9904 | €235,716 | €246,381 | +€10,665 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €235,716 | €246,381 | +€10,665 | +4.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.