MALEXI: 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.
MALEXI
Largest movements
- Cash -€83,527
down €83,527 (-20.8%), from €402,175 to €318,648
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€19,829)
- Tangible fixed assets -€20,264
down €20,264 (-41.1%), from €49,250 to €28,986
of which Furniture and vehicles: -€15,162
- Receivables within one year +€19,829
up €19,829 (+70.5%), from €28,132 to €47,960
of which Other amounts receivable: +€18,710
- Reserves -€82,358
down €82,358 (-26.6%), from €310,072 to €227,715
- Gross operating margin -€127,751
down €127,751 (-34.6%), from €368,944 to €241,193
- Taxes -€32,166
down €32,166 (-38.5%), from €83,455 to €51,290
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 | €496,120 | €411,465 | -€84,654 | -17.1% |
| Fixed assets | 21/28 | €49,250 | €28,986 | -€20,264 | -41.1% |
| Tangible fixed assets | 22/27 | €49,250 | €28,986 | -€20,264 | -41.1% |
| Furniture and vehicles | 24 | €16,129 | €967 | -€15,162 | -94.0% |
| Other tangible fixed assets | 26 | €33,121 | €28,019 | -€5,101 | -15.4% |
| Current assets | 29/58 | €446,870 | €382,479 | -€64,391 | -14.4% |
| Amounts receivable within one year | 40/41 | €28,132 | €47,960 | +€19,829 | +70.5% |
| Trade receivables | 40 | €28,132 | €29,250 | +€1,119 | +4.0% |
| Other amounts receivable | 41 | - | €18,710 | +€18,710 | |
| Current investments | 50/53 | €11,719 | €11,719 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €402,175 | €318,648 | -€83,527 | -20.8% |
| Deferred charges and accrued income | 490/1 | €4,844 | €4,152 | -€693 | -14.3% |
| Total equity and liabilities | 10/49 | €496,120 | €411,465 | -€84,654 | -17.1% |
| Equity | 10/15 | €328,672 | €246,315 | -€82,358 | -25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €310,072 | €227,715 | -€82,358 | -26.6% |
| Distributable reserves | 133 | €310,072 | €227,715 | -€82,358 | -26.6% |
| Amounts payable | 17/49 | €167,447 | €165,151 | -€2,297 | -1.4% |
| Amounts payable within one year | 42/48 | €167,447 | €165,151 | -€2,297 | -1.4% |
| Trade debts | 44 | €440 | €1,125 | +€685 | +156% |
| Suppliers | 440/4 | €440 | €1,125 | +€685 | +156% |
| Taxes, remuneration and social security | 45 | €17,007 | €14,026 | -€2,981 | -17.5% |
| Taxes | 450/3 | €17,007 | €14,026 | -€2,981 | -17.5% |
| Other amounts payable | 47/48 | €150,000 | €150,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,679 | €20,264 | -€1,416 | -6.5% |
| Other operating charges | 640/8 | €705 | €720 | +€14 | +2.0% |
| Gross operating margin | 9900 | €368,944 | €241,193 | -€127,751 | -34.6% |
| Operating profit (loss) | 9901 | €346,559 | €220,210 | -€126,349 | -36.5% |
| Financial income | 75/76B | €3,681 | €0 | -€3,681 | -100.0% |
| Recurring financial income | 75 | €3,681 | €0 | -€3,681 | -100.0% |
| Financial charges | 65/66B | €2,194 | €1,278 | -€916 | -41.8% |
| Recurring financial charges | 65 | €2,194 | €1,278 | -€916 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €348,047 | €218,932 | -€129,115 | -37.1% |
| Income taxes | 67/77 | €83,455 | €51,290 | -€32,166 | -38.5% |
| Profit (loss) for the period | 9904 | €264,592 | €167,642 | -€96,949 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €264,592 | €167,642 | -€96,949 | -36.6% |
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 29 October 2026 via checked.be.