MALEX VR: 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.
MALEX VR
Largest movements
- Cash +€203,827
up €203,827 (+311%), from €65,480 to €269,307
mainly Current investments (+€200,000) and Net result for the year (+€64,256)
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Receivables within one year -€7,521
down €7,521 (-16.6%), from €45,205 to €37,683
of which Other amounts receivable: -€7,500
- Other debts -€68,999
down €68,999 (-32.1%), from €215,183 to €146,183
- Reserves +€64,256
up €64,256 (+90.8%), from €70,778 to €135,034
- Taxes +€16,059
up €16,059 (+114%), from €14,042 to €30,100
- Gross operating margin +€5,336
up €5,336 (+6.2%), from €86,687 to €92,023
- Financial income +€3,069
new in 2025: €3,069
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 | €310,685 | €306,991 | -€3,694 | -1.2% |
| Current assets | 29/58 | €310,685 | €306,991 | -€3,694 | -1.2% |
| Amounts receivable within one year | 40/41 | €45,205 | €37,683 | -€7,521 | -16.6% |
| Trade receivables | 40 | €37,705 | €37,683 | -€21 | -0.1% |
| Other amounts receivable | 41 | €7,500 | €0 | -€7,500 | -100% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €65,480 | €269,307 | +€203,827 | +311% |
| Total equity and liabilities | 10/49 | €310,685 | €306,991 | -€3,694 | -1.2% |
| Equity | 10/15 | €72,778 | €137,034 | +€64,256 | +88.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €70,778 | €135,034 | +€64,256 | +90.8% |
| Distributable reserves | 133 | €70,778 | €135,034 | +€64,256 | +90.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €237,907 | €169,956 | -€67,951 | -28.6% |
| Amounts payable within one year | 42/48 | €237,907 | €169,956 | -€67,951 | -28.6% |
| Trade debts | 44 | €0 | €595 | +€595 | |
| Suppliers | 440/4 | €0 | €595 | +€595 | |
| Taxes, remuneration and social security | 45 | €22,724 | €23,178 | +€454 | +2.0% |
| Taxes | 450/3 | €15,590 | €9,978 | -€5,612 | -36.0% |
| Remuneration and social security | 454/9 | €7,135 | €13,200 | +€6,065 | +85.0% |
| Other amounts payable | 47/48 | €215,183 | €146,183 | -€68,999 | -32.1% |
| Other operating charges | 640/8 | €555 | €620 | +€64 | +11.6% |
| Gross operating margin | 9900 | €86,687 | €92,023 | +€5,336 | +6.2% |
| Operating profit (loss) | 9901 | €86,131 | €91,403 | +€5,272 | +6.1% |
| Financial income | 75/76B | - | €3,069 | +€3,069 | |
| Recurring financial income | 75 | - | €3,069 | +€3,069 | |
| Financial charges | 65/66B | €143 | €116 | -€27 | -19.2% |
| Recurring financial charges | 65 | €143 | €116 | -€27 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €85,988 | €94,357 | +€8,368 | +9.7% |
| Income taxes | 67/77 | €14,042 | €30,100 | +€16,059 | +114% |
| Profit (loss) for the period | 9904 | €71,947 | €64,256 | -€7,690 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,947 | €64,256 | -€7,690 | -10.7% |
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 30 October 2026 via checked.be.