MALIE: 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.
MALIE
Largest movements
- Receivables within one year +€39,983
up €39,983 (+116%), from €34,557 to €74,541
of which Other amounts receivable: +€42,138
- Cash -€5,829
down €5,829 (-82.3%), from €7,086 to €1,257
mainly Receivables within one year (-€39,983) and Other debts (-€7,879)
- Reserves +€33,603
up €33,603 (+20.7%), from €162,485 to €196,089
- Advances received +€10,419
new in 2025: €10,419
- Other debts -€7,879
down €7,879 (-56.4%), from €13,962 to €6,083
- Current portion of long-term debt +€4,893
up €4,893 (+122%), from €3,998 to €8,890
- Trade debts -€4,004
down €4,004 (-47.9%), from €8,357 to €4,353
- Financial income -€71,899
down €71,899 (-96.2%), from €74,747 to €2,848
- Gross operating margin +€23,542
up €23,542 (+69.9%), from €33,683 to €57,225
- Financial charges +€1,148
up €1,148 (+136%), from €845 to €1,993
- Depreciation +€867
up €867 (+12.0%), from €7,258 to €8,126
- Taxes -€754
down €754 (-5.3%), from €14,155 to €13,402
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 | €214,256 | €245,289 | +€31,033 | +14.5% |
| Fixed assets | 21/28 | €124,795 | €124,213 | -€582 | -0.5% |
| Tangible fixed assets | 22/27 | €114,574 | €113,991 | -€583 | -0.5% |
| Land and buildings | 22 | €105,760 | €107,515 | +€1,755 | +1.7% |
| Plant, machinery and equipment | 23 | €4,722 | €3,505 | -€1,217 | -25.8% |
| Furniture and vehicles | 24 | €2,189 | €1,489 | -€700 | -32.0% |
| Other tangible fixed assets | 26 | €1,903 | €1,482 | -€421 | -22.1% |
| Financial fixed assets | 28 | €10,221 | €10,222 | +€1 | 0.0% |
| Current assets | 29/58 | €89,461 | €121,076 | +€31,615 | +35.3% |
| Amounts receivable within one year | 40/41 | €34,557 | €74,541 | +€39,983 | +116% |
| Trade receivables | 40 | €23,121 | €20,966 | -€2,155 | -9.3% |
| Other amounts receivable | 41 | €11,436 | €53,574 | +€42,138 | +368% |
| Current investments | 50/53 | €47,000 | €44,596 | -€2,404 | -5.1% |
| Cash at bank and in hand | 54/58 | €7,086 | €1,257 | -€5,829 | -82.3% |
| Deferred charges and accrued income | 490/1 | €818 | €682 | -€135 | -16.5% |
| Total equity and liabilities | 10/49 | €214,256 | €245,289 | +€31,033 | +14.5% |
| Equity | 10/15 | €163,485 | €197,089 | +€33,603 | +20.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €162,485 | €196,089 | +€33,603 | +20.7% |
| Distributable reserves | 133 | €162,485 | €196,089 | +€33,603 | +20.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,771 | €48,200 | -€2,570 | -5.1% |
| Amounts payable after more than one year | 17 | €8,860 | €6,738 | -€2,122 | -24.0% |
| Financial debts | 170/4 | €8,860 | €6,738 | -€2,122 | -24.0% |
| Amounts payable within one year | 42/48 | €41,911 | €41,463 | -€448 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €3,998 | €8,890 | +€4,893 | +122% |
| Financial debts | 43 | €888 | €247 | -€640 | -72.2% |
| Credit institutions | 430/8 | €888 | €247 | -€640 | -72.2% |
| Trade debts | 44 | €8,357 | €4,353 | -€4,004 | -47.9% |
| Suppliers | 440/4 | €8,357 | €4,353 | -€4,004 | -47.9% |
| Advances received on contracts in progress | 46 | - | €10,419 | +€10,419 | |
| Taxes, remuneration and social security | 45 | €14,707 | €11,470 | -€3,237 | -22.0% |
| Taxes | 450/3 | €14,707 | €11,470 | -€3,237 | -22.0% |
| Other amounts payable | 47/48 | €13,962 | €6,083 | -€7,879 | -56.4% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,258 | €8,126 | +€867 | +12.0% |
| Other operating charges | 640/8 | €2,209 | €2,949 | +€739 | +33.5% |
| Gross operating margin | 9900 | €33,683 | €57,225 | +€23,542 | +69.9% |
| Operating profit (loss) | 9901 | €24,215 | €46,151 | +€21,935 | +90.6% |
| Financial income | 75/76B | €74,747 | €2,848 | -€71,899 | -96.2% |
| Recurring financial income | 75 | €74,747 | €2,848 | -€71,899 | -96.2% |
| Financial charges | 65/66B | €845 | €1,993 | +€1,148 | +136% |
| Recurring financial charges | 65 | €845 | €1,993 | +€1,148 | +136% |
| Profit (loss) for the period before taxes | 9903 | €98,117 | €47,005 | -€51,112 | -52.1% |
| Income taxes | 67/77 | €14,155 | €13,402 | -€754 | -5.3% |
| Profit (loss) for the period | 9904 | €83,961 | €33,603 | -€50,358 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,961 | €33,603 | -€50,358 | -60.0% |
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 13 October 2026 via checked.be.