MALAS: 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.
MALAS
Largest movements
- Receivables within one year -€16,709
down €16,709 (-27.9%), from €59,894 to €43,185
of which Trade receivables: -€16,279
- Tangible fixed assets +€11,872
up €11,872 (+304%), from €3,904 to €15,777
of which Furniture and vehicles: +€12,120
- Cash -€5,338
down €5,338 (-18.0%), from €29,684 to €24,346
mainly Investment in fixed assets (net) (-€16,321) and Tax, wage and social debts (-€10,019)
- Tax, wage and social debts -€10,019
down €10,019 (-67.9%), from €14,751 to €4,732
- Reserves +€1,966
up €1,966 (+3.1%), from €63,671 to €65,637
of which Distributable reserves: +€1,966
- Trade debts -€1,418
down €1,418 (-94.1%), from €1,507 to €89
- Gross operating margin -€21,483
down €21,483 (-66.6%), from €32,258 to €10,775
- Taxes -€6,579
down €6,579 (-75.2%), from €8,743 to €2,164
- Depreciation +€3,310
up €3,310 (+291%), from €1,139 to €4,449
- Other operating charges -€955
down €955 (-48.8%), from €1,958 to €1,003
- Financial charges +€547
up €547 (+164%), from €334 to €881
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 | €93,482 | €83,307 | -€10,175 | -10.9% |
| Fixed assets | 21/28 | €3,904 | €15,777 | +€11,872 | +304% |
| Tangible fixed assets | 22/27 | €3,904 | €15,777 | +€11,872 | +304% |
| Plant, machinery and equipment | 23 | €1,233 | €986 | -€248 | -20.1% |
| Furniture and vehicles | 24 | €2,671 | €14,791 | +€12,120 | +454% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €89,578 | €67,531 | -€22,047 | -24.6% |
| Amounts receivable within one year | 40/41 | €59,894 | €43,185 | -€16,709 | -27.9% |
| Trade receivables | 40 | €45,611 | €29,332 | -€16,279 | -35.7% |
| Other amounts receivable | 41 | €14,282 | €13,852 | -€430 | -3.0% |
| Cash at bank and in hand | 54/58 | €29,684 | €24,346 | -€5,338 | -18.0% |
| Total equity and liabilities | 10/49 | €93,482 | €83,307 | -€10,175 | -10.9% |
| Equity | 10/15 | €69,871 | €71,837 | +€1,966 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,671 | €65,637 | +€1,966 | +3.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €63,671 | €65,637 | +€1,966 | +3.1% |
| Amounts payable | 17/49 | €23,611 | €11,470 | -€12,141 | -51.4% |
| Amounts payable within one year | 42/48 | €23,611 | €11,470 | -€12,141 | -51.4% |
| Trade debts | 44 | €1,507 | €89 | -€1,418 | -94.1% |
| Suppliers | 440/4 | €1,507 | €89 | -€1,418 | -94.1% |
| Taxes, remuneration and social security | 45 | €14,751 | €4,732 | -€10,019 | -67.9% |
| Taxes | 450/3 | €14,751 | €4,732 | -€10,019 | -67.9% |
| Other amounts payable | 47/48 | €7,353 | €6,650 | -€704 | -9.6% |
| Remuneration, social security and pensions | 62 | €39 | €312 | +€273 | +702% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,139 | €4,449 | +€3,310 | +291% |
| Other operating charges | 640/8 | €1,958 | €1,003 | -€955 | -48.8% |
| Gross operating margin | 9900 | €32,258 | €10,775 | -€21,483 | -66.6% |
| Operating profit (loss) | 9901 | €29,122 | €5,011 | -€24,112 | -82.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +78.9% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +78.9% |
| Financial charges | 65/66B | €334 | €881 | +€547 | +164% |
| Recurring financial charges | 65 | €334 | €881 | +€547 | +164% |
| Profit (loss) for the period before taxes | 9903 | €28,789 | €4,130 | -€24,659 | -85.7% |
| Income taxes | 67/77 | €8,743 | €2,164 | -€6,579 | -75.2% |
| Profit (loss) for the period | 9904 | €20,046 | €1,966 | -€18,080 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,046 | €1,966 | -€18,080 | -90.2% |
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 20 October 2026 via checked.be.