Malco: 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.
Malco
Largest movements
- Tangible fixed assets +€12,896
up €12,896 (+260.5%), from €4,951 to €17,847
of which Plant, machinery and equipment: +€12,896
- Stocks and contracts -€9,102
down €9,102 (-26.7%), from €34,031 to €24,929
- Receivables within one year +€8,043
up €8,043 (+28.1%), from €28,672 to €36,715
of which Trade receivables: +€13,886
- Profit (loss) carried forward +€7,396
up €7,396 (+31.2%), from -€23,682 to -€16,287
- Tax, wage and social debts +€4,193
up €4,193 (+61.8%), from €6,789 to €10,981
of which Remuneration and social security: +€2,554
- Gross operating margin +€38,089
up €38,089 (+49.0%), from €77,795 to €115,884
- Staff costs +€12,373
up €12,373 (+13.9%), from €88,860 to €101,233
- Depreciation +€5,110
up €5,110 (+263.5%), from €1,939 to €7,049
- Other operating charges +€1,523
up €1,523 (+114.6%), from €1,329 to €2,851
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 | €142,511 | €155,618 | +€13,107 | +9.2% |
| Fixed assets | 21/28 | €4,951 | €17,847 | +€12,896 | +260.5% |
| Tangible fixed assets | 22/27 | €4,951 | €17,847 | +€12,896 | +260.5% |
| Plant, machinery and equipment | 23 | €4,951 | €17,847 | +€12,896 | +260.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €137,561 | €137,772 | +€211 | +0.2% |
| Stocks and contracts in progress | 3 | €34,031 | €24,929 | -€9,102 | -26.7% |
| Stocks | 30/36 | €34,031 | €24,929 | -€9,102 | -26.7% |
| Amounts receivable within one year | 40/41 | €28,672 | €36,715 | +€8,043 | +28.1% |
| Trade receivables | 40 | €21,506 | €35,392 | +€13,886 | +64.6% |
| Other amounts receivable | 41 | €7,166 | €1,323 | -€5,843 | -81.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €74,795 | €76,128 | +€1,333 | +1.8% |
| Deferred charges and accrued income | 490/1 | €63 | €0 | -€63 | -100.0% |
| Total equity and liabilities | 10/49 | €142,511 | €155,618 | +€13,107 | +9.2% |
| Equity | 10/15 | €1,778 | €9,173 | +€7,396 | +416.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,682 | -€16,287 | +€7,396 | +31.2% |
| Amounts payable | 17/49 | €140,734 | €146,445 | +€5,711 | +4.1% |
| Amounts payable within one year | 42/48 | €140,084 | €145,745 | +€5,661 | +4.0% |
| Trade debts | 44 | €133,295 | €134,763 | +€1,468 | +1.1% |
| Suppliers | 440/4 | €133,295 | €134,763 | +€1,468 | +1.1% |
| Taxes, remuneration and social security | 45 | €6,789 | €10,981 | +€4,193 | +61.8% |
| Taxes | 450/3 | €19 | €1,658 | +€1,639 | +8611.5% |
| Remuneration and social security | 454/9 | €6,770 | €9,324 | +€2,554 | +37.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €650 | €700 | +€50 | +7.7% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €88,860 | €101,233 | +€12,373 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,939 | €7,049 | +€5,110 | +263.5% |
| Other operating charges | 640/8 | €1,329 | €2,851 | +€1,523 | +114.6% |
| Gross operating margin | 9900 | €77,795 | €115,884 | +€38,089 | +49.0% |
| Operating profit (loss) | 9901 | -€14,333 | €4,751 | +€19,084 | |
| Financial income | 75/76B | €2,617 | €2,782 | +€164 | +6.3% |
| Recurring financial income | 75 | €2,617 | €2,782 | +€164 | +6.3% |
| Financial charges | 65/66B | €117 | €137 | +€20 | +16.7% |
| Recurring financial charges | 65 | €117 | €137 | +€20 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,833 | €7,396 | +€19,229 | |
| Profit (loss) for the period | 9904 | -€11,833 | €7,396 | +€19,229 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,833 | €7,396 | +€19,229 |
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 7 October 2026 via checked.be.