MALEGO: what changed
MALEGO
Largest movements
- Tangible fixed assets -€214,044
down €214,044 (-96.7%), from €221,236 to €7,192
of which Land and buildings: -€204,617
- Cash +€61,075
up €61,075 (+753%), from €8,110 to €69,185
mainly Investment in fixed assets (net) (+€213,890) and Trade debts (+€38,084)
- Receivables within one year +€48,428
up €48,428 (+77.3%), from €62,615 to €111,043
of which Trade receivables: +€45,117
- Stocks and contracts +€20,600
up €20,600 (+1,648%), from €1,250 to €21,850
of which Contracts in progress: +€20,600
- Deferred charges and accrued income -€3,121
down €3,121 (-66.6%), from €4,690 to €1,569
- Debts after one year -€97,413
no longer reported in 2025 (was €97,413)
- Trade debts +€38,084
up €38,084 (+294%), from €12,963 to €51,048
- Current portion of long-term debt -€27,662
no longer reported in 2025 (was €27,662)
- Short-term financial debts -€14,677
no longer reported in 2025 (was €14,677)
- Reserves +€9,204
up €9,204 (+13.0%), from €71,019 to €80,223
of which Distributable reserves: +€15,491
- Staff costs -€41,326
no longer reported in 2025 (was €41,326)
- Depreciation -€10,871
down €10,871 (-79.4%), from €13,683 to €2,812
- Gross operating margin -€9,237
down €9,237 (-23.1%), from €39,922 to €30,686
- Financial charges +€3,062
up €3,062 (+34.4%), from €8,913 to €11,974
- Taxes +€2,048
up €2,048 (+403%), from €509 to €2,557
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 | €301,676 | €211,955 | -€89,720 | -29.7% |
| Fixed assets | 21/28 | €225,011 | €8,308 | -€216,703 | -96.3% |
| Tangible fixed assets | 22/27 | €221,236 | €7,192 | -€214,044 | -96.7% |
| Land and buildings | 22 | €204,617 | - | -€204,617 | |
| Plant, machinery and equipment | 23 | €1,774 | €2,034 | +€260 | +14.7% |
| Furniture and vehicles | 24 | €13,537 | €1,091 | -€12,445 | -91.9% |
| Other tangible fixed assets | 26 | €1,308 | €4,067 | +€2,759 | +211% |
| Financial fixed assets | 28 | €3,775 | €1,116 | -€2,659 | -70.4% |
| Current assets | 29/58 | €76,665 | €203,647 | +€126,982 | +166% |
| Stocks and contracts in progress | 3 | €1,250 | €21,850 | +€20,600 | +1,648% |
| Stocks | 30/36 | €1,250 | €1,250 | = | 0.0% |
| Contracts in progress | 37 | - | €20,600 | +€20,600 | |
| Amounts receivable within one year | 40/41 | €62,615 | €111,043 | +€48,428 | +77.3% |
| Trade receivables | 40 | €11,047 | €56,165 | +€45,117 | +408% |
| Other amounts receivable | 41 | €51,567 | €54,878 | +€3,311 | +6.4% |
| Cash at bank and in hand | 54/58 | €8,110 | €69,185 | +€61,075 | +753% |
| Deferred charges and accrued income | 490/1 | €4,690 | €1,569 | -€3,121 | -66.6% |
| Total equity and liabilities | 10/49 | €301,676 | €211,955 | -€89,720 | -29.7% |
| Equity | 10/15 | €141,592 | €150,796 | +€9,204 | +6.5% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €71,019 | €80,223 | +€9,204 | +13.0% |
| Tax-exempt reserves | 132 | €6,286 | - | -€6,286 | |
| Distributable reserves | 133 | €64,732 | €80,223 | +€15,491 | +23.9% |
| Profit (loss) carried forward | 14 | €39,573 | €39,573 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,222 | - | -€1,222 | |
| Deferred taxes | 168 | €1,222 | - | -€1,222 | |
| Amounts payable | 17/49 | €158,862 | €61,160 | -€97,702 | -61.5% |
| Amounts payable after more than one year | 17 | €97,413 | - | -€97,413 | |
| Financial debts | 170/4 | €97,413 | - | -€97,413 | |
| Amounts payable within one year | 42/48 | €61,449 | €61,160 | -€289 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €27,662 | - | -€27,662 | |
| Financial debts | 43 | €14,677 | - | -€14,677 | |
| Credit institutions | 430/8 | €14,677 | - | -€14,677 | |
| Trade debts | 44 | €12,963 | €51,048 | +€38,084 | +294% |
| Suppliers | 440/4 | €12,963 | €51,048 | +€38,084 | +294% |
| Taxes, remuneration and social security | 45 | €512 | €2,724 | +€2,213 | +432% |
| Taxes | 450/3 | €512 | €2,724 | +€2,213 | +432% |
| Other amounts payable | 47/48 | €5,635 | €7,388 | +€1,753 | +31.1% |
| Non-recurring operating income | 76A | €950 | €54,041 | +€53,091 | +5,588% |
| Remuneration, social security and pensions | 62 | €41,326 | - | -€41,326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,683 | €2,812 | -€10,871 | -79.4% |
| Other operating charges | 640/8 | €4,492 | €3,745 | -€747 | -16.6% |
| Non-recurring operating charges | 66A | - | €2,819 | +€2,819 | |
| Gross operating margin | 9900 | €39,922 | €30,686 | -€9,237 | -23.1% |
| Operating profit (loss) | 9901 | -€19,579 | €21,309 | +€40,888 | |
| Financial income | 75/76B | €1,211 | €1,204 | -€7 | -0.6% |
| Recurring financial income | 75 | €1,211 | €1,204 | -€7 | -0.6% |
| Financial charges | 65/66B | €8,913 | €11,974 | +€3,062 | +34.4% |
| Recurring financial charges | 65 | €8,913 | €11,974 | +€3,062 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,280 | €10,539 | +€37,820 | |
| Transfer from deferred taxes | 780 | €170 | €1,222 | +€1,052 | +620% |
| Income taxes | 67/77 | €509 | €2,557 | +€2,048 | +403% |
| Profit (loss) for the period | 9904 | -€27,619 | €9,204 | +€36,824 | |
| Transfer from tax-exempt reserves | 789 | €330 | €6,286 | +€5,957 | +1,806% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,290 | €15,491 | +€42,780 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.