MALEVA: what changed
MALEVA
Largest movements
- Cash +€37,026
up €37,026 (+255%), from €14,542 to €51,568
mainly Receivables within one year (+€16,352) and Net result for the year (+€11,770)
- Receivables within one year -€16,352
down €16,352 (-81.4%), from €20,084 to €3,732
of which Other amounts receivable: -€9,726
- Tangible fixed assets -€7,510
no longer reported in 2025 (was €7,510)
of which Plant, machinery and equipment: -€5,291
- Stocks and contracts -€4,632
no longer reported in 2025 (was €4,632)
- Trade debts -€11,937
down €11,937 (-92.8%), from €12,862 to €925
- Reserves +€11,770
up €11,770 (+633%), from €1,860 to €13,630
of which Tax-exempt reserves: +€11,770
- Tax, wage and social debts +€5,117
up €5,117 (+45.1%), from €11,351 to €16,468
of which Remuneration and social security: +€3,952
- Other debts +€3,582
up €3,582 (+50.4%), from €7,109 to €10,691
- Gross operating margin +€19,835
up €19,835 (+29.2%), from €67,847 to €87,682
- Other operating charges +€7,487
up €7,487 (+136%), from €5,504 to €12,991
- Staff costs -€6,254
down €6,254 (-12.0%), from €51,935 to €45,681
- Depreciation -€3,812
no longer reported in 2025 (was €3,812)
- Taxes +€3,809
new in 2025: €3,809
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 | €46,768 | €55,300 | +€8,532 | +18.2% |
| Fixed assets | 21/28 | €7,510 | - | -€7,510 | |
| Tangible fixed assets | 22/27 | €7,510 | - | -€7,510 | |
| Plant, machinery and equipment | 23 | €5,291 | - | -€5,291 | |
| Furniture and vehicles | 24 | €2,219 | - | -€2,219 | |
| Current assets | 29/58 | €39,258 | €55,300 | +€16,042 | +40.9% |
| Stocks and contracts in progress | 3 | €4,632 | - | -€4,632 | |
| Stocks | 30/36 | €4,632 | - | -€4,632 | |
| Amounts receivable within one year | 40/41 | €20,084 | €3,732 | -€16,352 | -81.4% |
| Trade receivables | 40 | €10,345 | €3,719 | -€6,626 | -64.1% |
| Other amounts receivable | 41 | €9,739 | €13 | -€9,726 | -99.9% |
| Cash at bank and in hand | 54/58 | €14,542 | €51,568 | +€37,026 | +255% |
| Total equity and liabilities | 10/49 | €46,768 | €55,300 | +€8,532 | +18.2% |
| Equity | 10/15 | €15,446 | €27,216 | +€11,770 | +76.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €13,630 | +€11,770 | +633% |
| 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 | - | €11,770 | +€11,770 | |
| Profit (loss) carried forward | 14 | €7,386 | €7,386 | = | 0.0% |
| Amounts payable | 17/49 | €31,322 | €28,084 | -€3,238 | -10.3% |
| Amounts payable within one year | 42/48 | €31,322 | €28,084 | -€3,238 | -10.3% |
| Trade debts | 44 | €12,862 | €925 | -€11,937 | -92.8% |
| Suppliers | 440/4 | €12,862 | €925 | -€11,937 | -92.8% |
| Taxes, remuneration and social security | 45 | €11,351 | €16,468 | +€5,117 | +45.1% |
| Taxes | 450/3 | €2,644 | €3,809 | +€1,165 | +44.1% |
| Remuneration and social security | 454/9 | €8,707 | €12,659 | +€3,952 | +45.4% |
| Other amounts payable | 47/48 | €7,109 | €10,691 | +€3,582 | +50.4% |
| Non-recurring operating income | 76A | €1,560 | €50,000 | +€48,440 | +3,105% |
| Remuneration, social security and pensions | 62 | €51,935 | €45,681 | -€6,254 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,812 | - | -€3,812 | |
| Other operating charges | 640/8 | €5,504 | €12,991 | +€7,487 | +136% |
| Non-recurring operating charges | 66A | - | €13,241 | +€13,241 | |
| Gross operating margin | 9900 | €67,847 | €87,682 | +€19,835 | +29.2% |
| Operating profit (loss) | 9901 | €6,596 | €15,769 | +€9,173 | +139% |
| Financial charges | 65/66B | €163 | €190 | +€27 | +16.6% |
| Recurring financial charges | 65 | €163 | €190 | +€27 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €6,433 | €15,579 | +€9,146 | +142% |
| Income taxes | 67/77 | - | €3,809 | +€3,809 | |
| Profit (loss) for the period | 9904 | €6,433 | €11,770 | +€5,337 | +83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,433 | €11,770 | +€5,337 | +83.0% |
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 3 November 2026 via checked.be.