MALEAM: what changed
MALEAM
Largest movements
- Receivables within one year +€23,060
up €23,060 (+159%), from €14,537 to €37,596
of which Trade receivables: +€22,854
- Cash -€14,856
down €14,856 (-38.1%), from €39,036 to €24,180
mainly Receivables within one year (-€23,060) and Debts after one year (-€11,835)
- Tangible fixed assets -€4,871
down €4,871 (-9.3%), from €52,437 to €47,566
of which Other tangible fixed assets: -€4,651
- Debts after one year -€11,835
down €11,835 (-41.3%), from €28,621 to €16,786
- Profit (loss) carried forward +€8,494
up €8,494, from -€7,935 to €559
- Reserves +€8,002
up €8,002 (+17.9%), from €44,800 to €52,802
- Trade debts -€6,144
down €6,144 (-77.9%), from €7,884 to €1,740
- Tax, wage and social debts +€3,278
up €3,278 (+59.9%), from €5,476 to €8,754
- Gross operating margin +€39,493
up €39,493, from -€1,679 to €37,814
- Taxes +€7,762
up €7,762 (+23,993%), from €32 to €7,794
- Financial charges -€382
down €382 (-23.3%), from €1,640 to €1,259
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,049 | €115,828 | +€3,779 | +3.4% |
| Fixed assets | 21/28 | €52,557 | €47,686 | -€4,871 | -9.3% |
| Tangible fixed assets | 22/27 | €52,437 | €47,566 | -€4,871 | -9.3% |
| Furniture and vehicles | 24 | €3,354 | €3,134 | -€220 | -6.6% |
| Other tangible fixed assets | 26 | €49,083 | €44,432 | -€4,651 | -9.5% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €59,492 | €68,142 | +€8,650 | +14.5% |
| Amounts receivable within one year | 40/41 | €14,537 | €37,596 | +€23,060 | +159% |
| Trade receivables | 40 | €12,842 | €35,696 | +€22,854 | +178% |
| Other amounts receivable | 41 | €1,694 | €1,900 | +€206 | +12.2% |
| Cash at bank and in hand | 54/58 | €39,036 | €24,180 | -€14,856 | -38.1% |
| Deferred charges and accrued income | 490/1 | €5,920 | €6,366 | +€446 | +7.5% |
| Total equity and liabilities | 10/49 | €112,049 | €115,828 | +€3,779 | +3.4% |
| Equity | 10/15 | €57,325 | €73,821 | +€16,496 | +28.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €44,800 | €52,802 | +€8,002 | +17.9% |
| Distributable reserves | 133 | €44,800 | €52,802 | +€8,002 | +17.9% |
| Profit (loss) carried forward | 14 | -€7,935 | €559 | +€8,494 | |
| Amounts payable | 17/49 | €54,724 | €42,007 | -€12,717 | -23.2% |
| Amounts payable after more than one year | 17 | €28,621 | €16,786 | -€11,835 | -41.3% |
| Financial debts | 170/4 | €28,621 | €16,786 | -€11,835 | -41.3% |
| Amounts payable within one year | 42/48 | €26,103 | €25,220 | -€883 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €12,720 | €12,979 | +€259 | +2.0% |
| Trade debts | 44 | €7,884 | €1,740 | -€6,144 | -77.9% |
| Suppliers | 440/4 | €7,884 | €1,740 | -€6,144 | -77.9% |
| Taxes, remuneration and social security | 45 | €5,476 | €8,754 | +€3,278 | +59.9% |
| Taxes | 450/3 | €5,476 | €8,754 | +€3,278 | +59.9% |
| Other amounts payable | 47/48 | €23 | €1,747 | +€1,725 | +7,547% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,920 | €6,295 | +€375 | +6.3% |
| Other operating charges | 640/8 | €884 | €972 | +€88 | +10.0% |
| Non-recurring operating charges | 66A | €576 | €0 | -€576 | -100% |
| Gross operating margin | 9900 | -€1,679 | €37,814 | +€39,493 | |
| Operating profit (loss) | 9901 | -€9,059 | €30,547 | +€39,606 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €1,640 | €1,259 | -€382 | -23.3% |
| Recurring financial charges | 65 | €1,640 | €1,259 | -€382 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,695 | €29,288 | +€39,984 | |
| Income taxes | 67/77 | €32 | €7,794 | +€7,762 | +23,993% |
| Profit (loss) for the period | 9904 | -€10,728 | €21,494 | +€32,222 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,728 | €21,494 | +€32,222 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.