MALEOL: 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.
MALEOL
Largest movements
- Financial fixed assets -€43,302
down €43,302 (-2.3%), from €1.9m to €1.9m
- Cash -€28,535
down €28,535 (-58.0%), from €49,217 to €20,682
mainly Debts after one year (-€216,680) and Net result for the year (-€2,936)
- Receivables within one year -€22,080
down €22,080 (-91.8%), from €24,041 to €1,961
of which Trade receivables: -€22,080
- Debts after one year -€216,680
down €216,680 (-15.8%), from €1.4m to €1.2m
- Current portion of long-term debt +€104,830
up €104,830 (+93.7%), from €111,850 to €216,680
- Financial charges +€39,715
up €39,715 (+320%), from €12,394 to €52,108
- Gross operating margin +€10,577
up €10,577 (+22.5%), from €46,968 to €57,545
- Taxes -€5,872
down €5,872 (-92.8%), from €6,329 to €457
- Financial income +€4,159
up €4,159 (+129%), from €3,211 to €7,370
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 | €2,062,740 | €1,956,561 | -€106,179 | -5.1% |
| Fixed assets | 21/28 | €1,957,046 | €1,899,762 | -€57,284 | -2.9% |
| Tangible fixed assets | 22/27 | €36,640 | €22,658 | -€13,982 | -38.2% |
| Furniture and vehicles | 24 | €36,640 | €22,658 | -€13,982 | -38.2% |
| Financial fixed assets | 28 | €1,920,406 | €1,877,104 | -€43,302 | -2.3% |
| Current assets | 29/58 | €105,694 | €56,798 | -€48,896 | -46.3% |
| Amounts receivable within one year | 40/41 | €24,041 | €1,961 | -€22,080 | -91.8% |
| Trade receivables | 40 | €22,080 | - | -€22,080 | |
| Other amounts receivable | 41 | €1,961 | €1,961 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,217 | €20,682 | -€28,535 | -58.0% |
| Deferred charges and accrued income | 490/1 | €32,436 | €34,155 | +€1,720 | +5.3% |
| Total equity and liabilities | 10/49 | €2,062,740 | €1,956,561 | -€106,179 | -5.1% |
| Equity | 10/15 | €359,057 | €356,121 | -€2,936 | -0.8% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €2,639 | €2,639 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,639 | €2,639 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,418 | €178,482 | -€2,936 | -1.6% |
| Amounts payable | 17/49 | €1,703,683 | €1,600,440 | -€103,243 | -6.1% |
| Amounts payable after more than one year | 17 | €1,372,814 | €1,156,133 | -€216,680 | -15.8% |
| Financial debts | 170/4 | €1,372,814 | €1,156,133 | -€216,680 | -15.8% |
| Amounts payable within one year | 42/48 | €329,369 | €443,606 | +€114,237 | +34.7% |
| Current portion of amounts payable after more than one year | 42 | €111,850 | €216,680 | +€104,830 | +93.7% |
| Trade debts | 44 | €7,212 | €9,324 | +€2,112 | +29.3% |
| Suppliers | 440/4 | €7,212 | €9,324 | +€2,112 | +29.3% |
| Taxes, remuneration and social security | 45 | €9,417 | €15,897 | +€6,480 | +68.8% |
| Taxes | 450/3 | €7,117 | €3,866 | -€3,251 | -45.7% |
| Remuneration and social security | 454/9 | €2,300 | €12,031 | +€9,731 | +423% |
| Other amounts payable | 47/48 | €200,890 | €201,705 | +€815 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,500 | €700 | -€800 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,839 | €13,982 | +€143 | +1.0% |
| Other operating charges | 640/8 | €757 | €1,304 | +€547 | +72.3% |
| Gross operating margin | 9900 | €46,968 | €57,545 | +€10,577 | +22.5% |
| Operating profit (loss) | 9901 | €32,372 | €42,259 | +€9,887 | +30.5% |
| Financial income | 75/76B | €3,211 | €7,370 | +€4,159 | +129% |
| Recurring financial income | 75 | €3,211 | €7,370 | +€4,159 | +129% |
| Financial charges | 65/66B | €12,394 | €52,108 | +€39,715 | +320% |
| Recurring financial charges | 65 | €12,394 | €52,108 | +€39,715 | +320% |
| Profit (loss) for the period before taxes | 9903 | €23,190 | -€2,479 | -€25,669 | |
| Income taxes | 67/77 | €6,329 | €457 | -€5,872 | -92.8% |
| Profit (loss) for the period | 9904 | €16,861 | -€2,936 | -€19,797 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,861 | -€2,936 | -€19,797 |
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 31 October 2026 via checked.be.