MALEAN: what changed
MALEAN
Largest movements
- Cash -€357,457
down €357,457 (-73.7%), from €484,978 to €127,521
mainly Current investments (-€330,000) and Tax, wage and social debts (-€85,298)
- Current investments +€330,000
up €330,000 (+110%), from €300,000 to €630,000
- Receivables within one year -€25,380
down €25,380 (-15.0%), from €168,889 to €143,509
- Tangible fixed assets -€17,752
down €17,752 (-6.9%), from €255,690 to €237,938
of which Land and buildings: -€11,477
- Reserves +€91,491
up €91,491 (+26.8%), from €342,021 to €433,512
of which Distributable reserves: +€91,491
- Tax, wage and social debts -€85,298
down €85,298 (-39.9%), from €213,926 to €128,629
- Contributions -€28,590
down €28,590 (-9.1%), from €314,490 to €285,900
- Debts after one year -€27,319
down €27,319 (-75.2%), from €36,331 to €9,013
- Other debts -€16,879
down €16,879 (-100%), from €16,879 to €0
- Taxes -€98,302
down €98,302 (-76.5%), from €128,452 to €30,151
- Gross operating margin +€45,748
up €45,748 (+81.3%), from €56,300 to €102,048
- Financial income +€11,012
up €11,012 (+229%), from €4,813 to €15,825
- Other operating charges +€1,430
up €1,430 (+39.0%), from €3,668 to €5,098
- Financial charges -€1,273
down €1,273 (-39.2%), from €3,244 to €1,971
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 | €1,210,322 | €1,139,501 | -€70,821 | -5.9% |
| Fixed assets | 21/28 | €255,690 | €237,938 | -€17,752 | -6.9% |
| Tangible fixed assets | 22/27 | €255,690 | €237,938 | -€17,752 | -6.9% |
| Land and buildings | 22 | €243,426 | €231,948 | -€11,477 | -4.7% |
| Plant, machinery and equipment | 23 | €3,795 | €3,267 | -€528 | -13.9% |
| Furniture and vehicles | 24 | €8,469 | €2,723 | -€5,746 | -67.8% |
| Current assets | 29/58 | €954,632 | €901,562 | -€53,069 | -5.6% |
| Amounts receivable within one year | 40/41 | €168,889 | €143,509 | -€25,380 | -15.0% |
| Other amounts receivable | 41 | €168,889 | €143,509 | -€25,380 | -15.0% |
| Current investments | 50/53 | €300,000 | €630,000 | +€330,000 | +110% |
| Cash at bank and in hand | 54/58 | €484,978 | €127,521 | -€357,457 | -73.7% |
| Deferred charges and accrued income | 490/1 | €765 | €532 | -€233 | -30.4% |
| Total equity and liabilities | 10/49 | €1,210,322 | €1,139,501 | -€70,821 | -5.9% |
| Equity | 10/15 | €656,511 | €719,412 | +€62,901 | +9.6% |
| Contributions | 10/11 | €314,490 | €285,900 | -€28,590 | -9.1% |
| Reserves | 13 | €342,021 | €433,512 | +€91,491 | +26.8% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €342,021 | €433,512 | +€91,491 | +26.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €250,000 | €250,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €250,000 | €250,000 | = | 0.0% |
| Environmental obligations | 163 | €250,000 | €250,000 | = | 0.0% |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €303,811 | €170,088 | -€133,723 | -44.0% |
| Amounts payable after more than one year | 17 | €36,331 | €9,013 | -€27,319 | -75.2% |
| Financial debts | 170/4 | €36,331 | €9,013 | -€27,319 | -75.2% |
| Amounts payable within one year | 42/48 | €267,480 | €161,076 | -€106,404 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €31,408 | €27,319 | -€4,090 | -13.0% |
| Trade debts | 44 | €5,266 | €5,129 | -€137 | -2.6% |
| Suppliers | 440/4 | €5,266 | €5,129 | -€137 | -2.6% |
| Taxes, remuneration and social security | 45 | €213,926 | €128,629 | -€85,298 | -39.9% |
| Taxes | 450/3 | €213,926 | €128,629 | -€85,298 | -39.9% |
| Other amounts payable | 47/48 | €16,879 | €0 | -€16,879 | -100% |
| Non-recurring operating income | 76A | €42,399 | €0 | -€42,399 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,916 | €17,752 | -€165 | -0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €3,668 | €5,098 | +€1,430 | +39.0% |
| Gross operating margin | 9900 | €56,300 | €102,048 | +€45,748 | +81.3% |
| Operating profit (loss) | 9901 | €34,715 | €79,197 | +€44,482 | +128% |
| Financial income | 75/76B | €4,813 | €15,825 | +€11,012 | +229% |
| Recurring financial income | 75 | €4,813 | €15,825 | +€11,012 | +229% |
| Financial charges | 65/66B | €3,244 | €1,971 | -€1,273 | -39.2% |
| Recurring financial charges | 65 | €3,244 | €1,971 | -€1,273 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €36,285 | €93,052 | +€56,767 | +156% |
| Transfer from deferred taxes | 780 | €88,688 | €0 | -€88,688 | -100% |
| Income taxes | 67/77 | €128,452 | €30,151 | -€98,302 | -76.5% |
| Profit (loss) for the period | 9904 | -€3,480 | €62,901 | +€66,381 | |
| Transfer from tax-exempt reserves | 789 | €266,063 | €0 | -€266,063 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €262,583 | €62,901 | -€199,682 | -76.0% |
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 5 November 2026 via checked.be.