MALMA: what changed
Two fiscal 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.
MALMA
Largest movements
- Receivables within one year +€83,108
up €83,108 (+307.6%), from €27,018 to €110,126
of which Other amounts receivable: +€53,416
- Tangible fixed assets -€14,608
down €14,608 (-84.4%), from €17,314 to €2,706
of which Furniture and vehicles: -€12,630
- Cash -€7,985
down €7,985 (-80.4%), from €9,935 to €1,950
mainly Receivables within one year (-€83,108) and Trade debts (-€2,742)
- Deferred charges and accrued income -€2,286
down €2,286 (-93.5%), from €2,444 to €158
- Reserves +€45,078
up €45,078 (+136.6%), from €32,998 to €78,076
- Tax, wage and social debts +€15,218
up €15,218 (+113.1%), from €13,450 to €28,668
- Trade debts -€2,742
down €2,742 (-62.3%), from €4,405 to €1,663
- Gross operating margin +€12,855
up €12,855 (+23.1%), from €55,545 to €68,400
- Other operating charges +€5,910
up €5,910 (+468.1%), from €1,263 to €7,173
- Financial charges -€2,348
down €2,348 (-61.4%), from €3,826 to €1,478
- Taxes -€1,575
down €1,575 (-11.7%), from €13,436 to €11,862
- Depreciation -€1,186
down €1,186 (-37.5%), from €3,164 to €1,977
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.
Cash bridge derived
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 | €56,711 | €115,098 | +€58,387 | +103.0% |
| Fixed assets | 21/28 | €17,314 | €2,864 | -€14,450 | -83.5% |
| Tangible fixed assets | 22/27 | €17,314 | €2,706 | -€14,608 | -84.4% |
| Plant, machinery and equipment | 23 | €4,684 | €2,706 | -€1,977 | -42.2% |
| Furniture and vehicles | 24 | €12,630 | - | -€12,630 | |
| Financial fixed assets | 28 | - | €158 | +€158 | |
| Current assets | 29/58 | €39,397 | €112,234 | +€72,837 | +184.9% |
| Amounts receivable within one year | 40/41 | €27,018 | €110,126 | +€83,108 | +307.6% |
| Trade receivables | 40 | - | €29,692 | +€29,692 | |
| Other amounts receivable | 41 | €27,018 | €80,434 | +€53,416 | +197.7% |
| Cash at bank and in hand | 54/58 | €9,935 | €1,950 | -€7,985 | -80.4% |
| Deferred charges and accrued income | 490/1 | €2,444 | €158 | -€2,286 | -93.5% |
| Total equity and liabilities | 10/49 | €56,711 | €115,098 | +€58,387 | +103.0% |
| Equity | 10/15 | €37,998 | €83,076 | +€45,078 | +118.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €32,998 | €78,076 | +€45,078 | +136.6% |
| Distributable reserves | 133 | €32,998 | €78,076 | +€45,078 | +136.6% |
| Amounts payable | 17/49 | €18,713 | €32,023 | +€13,309 | +71.1% |
| Amounts payable within one year | 42/48 | €18,713 | €32,023 | +€13,309 | +71.1% |
| Trade debts | 44 | €4,405 | €1,663 | -€2,742 | -62.3% |
| Suppliers | 440/4 | €4,405 | €1,663 | -€2,742 | -62.3% |
| Taxes, remuneration and social security | 45 | €13,450 | €28,668 | +€15,218 | +113.1% |
| Taxes | 450/3 | €13,450 | €28,668 | +€15,218 | +113.1% |
| Other amounts payable | 47/48 | €859 | €1,692 | +€833 | +97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,164 | €1,977 | -€1,186 | -37.5% |
| Other operating charges | 640/8 | €1,263 | €7,173 | +€5,910 | +468.1% |
| Gross operating margin | 9900 | €55,545 | €68,400 | +€12,855 | +23.1% |
| Operating profit (loss) | 9901 | €51,119 | €59,250 | +€8,131 | +15.9% |
| Financial charges | 65/66B | €3,826 | €1,478 | -€2,348 | -61.4% |
| Recurring financial charges | 65 | €3,826 | €1,478 | -€2,348 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €47,293 | €57,773 | +€10,480 | +22.2% |
| Income taxes | 67/77 | €13,436 | €11,862 | -€1,575 | -11.7% |
| Profit (loss) for the period | 9904 | €33,857 | €45,911 | +€12,054 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,857 | €45,911 | +€12,054 | +35.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.