MALO: 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.
What changed
MALO
NACE 66.220, Insurance agents and brokers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€287,370
2024 · €282,227+€5,143
Equity
€1.8m
2024 · €1.7m+€114,474
Cash
€17,963
2024 · €724,414-€706,451
Balance sheet total
€2.6m
2024 · €2.6m+€33,960
Largest movements
Assets
- Current investments +€774,944
new in 2025: €774,944
- Cash -€706,451
down €706,451 (-97.5%), from €724,414 to €17,963
mainly Current investments (-€774,944) and Contributions, distributions and other (-€172,896)
Equity and liabilities
- Reserves +€114,474
up €114,474 (+6.7%), from €1.7m to €1.8m
- Debts after one year -€76,948
down €76,948 (-12.4%), from €619,333 to €542,385
Income statement
- Taxes -€8,270
down €8,270 (-5.7%), from €145,205 to €136,935
- Gross operating margin -€5,669
down €5,669 (-1.2%), from €474,881 to €469,212
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.
Result 2024
€282,227
Gross operating margin
-€5,669
Depreciation
+€17
Other operating charges
-€149
Financial income
+€353
Financial charges
+€2,321
Taxes
+€8,270
Result 2025
€287,370
raises the resultlowers the result
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.
From operations
+€320,716
Investment
-€778,528
Financing
-€248,639
Cash 2024
€724,414
From operations (derived)
+€320,716
Net result for the year
+€287,370
Depreciation
+€27,611
Receivables within one year
+€13,493
Deferred charges and accrued income
-€2,987
Smaller working-capital items
-€1,044
Other debts
-€3,727
Investment (derived)
-€778,528
Investment in fixed assets (net)
-€3,584
Current investments
-€774,944
Financing
-€248,639
Debts after one year
-€76,948
Current portion of long-term debt
+€905
Short-term financial debts
+€300
Contributions, distributions and other
-€172,896
Cash 2025
€17,963
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,561,708 | €2,595,668 | +€33,960 | +1.3% |
| Fixed assets | 21/28 | €1,731,634 | €1,707,607 | -€24,027 | -1.4% |
| Tangible fixed assets | 22/27 | €1,207,636 | €1,183,609 | -€24,027 | -2.0% |
| Land and buildings | 22 | €1,193,858 | €1,174,492 | -€19,365 | -1.6% |
| Plant, machinery and equipment | 23 | €2,553 | €1,117 | -€1,436 | -56.2% |
| Furniture and vehicles | 24 | €11,225 | €7,999 | -€3,226 | -28.7% |
| Financial fixed assets | 28 | €523,998 | €523,998 | = | 0.0% |
| Current assets | 29/58 | €830,074 | €888,061 | +€57,987 | +7.0% |
| Amounts receivable within one year | 40/41 | €103,493 | €90,000 | -€13,493 | -13.0% |
| Trade receivables | 40 | €102,500 | €90,000 | -€12,500 | -12.2% |
| Other amounts receivable | 41 | €993 | - | -€993 | |
| Current investments | 50/53 | - | €774,944 | +€774,944 | |
| Cash at bank and in hand | 54/58 | €724,414 | €17,963 | -€706,451 | -97.5% |
| Deferred charges and accrued income | 490/1 | €2,168 | €5,154 | +€2,987 | +138% |
| Total equity and liabilities | 10/49 | €2,561,708 | €2,595,668 | +€33,960 | +1.3% |
| Equity | 10/15 | €1,727,045 | €1,841,519 | +€114,474 | +6.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,720,845 | €1,835,319 | +€114,474 | +6.7% |
| Distributable reserves | 133 | €1,720,845 | €1,835,319 | +€114,474 | +6.7% |
| Amounts payable | 17/49 | €834,664 | €754,150 | -€80,514 | -9.6% |
| Amounts payable after more than one year | 17 | €619,333 | €542,385 | -€76,948 | -12.4% |
| Financial debts | 170/4 | €619,333 | €542,385 | -€76,948 | -12.4% |
| Amounts payable within one year | 42/48 | €214,646 | €211,103 | -€3,543 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €76,043 | €76,948 | +€905 | +1.2% |
| Financial debts | 43 | - | €300 | +€300 | |
| Credit institutions | 430/8 | - | €300 | +€300 | |
| Trade debts | 44 | €5,162 | €5,411 | +€249 | +4.8% |
| Suppliers | 440/4 | €5,162 | €5,411 | +€249 | +4.8% |
| Taxes, remuneration and social security | 45 | €77,021 | €75,750 | -€1,270 | -1.6% |
| Taxes | 450/3 | €77,021 | €75,750 | -€1,270 | -1.6% |
| Other amounts payable | 47/48 | €56,420 | €52,694 | -€3,727 | -6.6% |
| Accrued charges and deferred income | 492/3 | €685 | €662 | -€23 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,628 | €27,611 | -€17 | -0.1% |
| Other operating charges | 640/8 | €4,352 | €4,501 | +€149 | +3.4% |
| Gross operating margin | 9900 | €474,881 | €469,212 | -€5,669 | -1.2% |
| Operating profit (loss) | 9901 | €442,901 | €437,100 | -€5,801 | -1.3% |
| Financial income | 75/76B | €3,504 | €3,857 | +€353 | +10.1% |
| Recurring financial income | 75 | €3,504 | €3,857 | +€353 | +10.1% |
| Financial charges | 65/66B | €18,973 | €16,652 | -€2,321 | -12.2% |
| Recurring financial charges | 65 | €18,973 | €16,652 | -€2,321 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €427,433 | €424,305 | -€3,128 | -0.7% |
| Income taxes | 67/77 | €145,205 | €136,935 | -€8,270 | -5.7% |
| Profit (loss) for the period | 9904 | €282,227 | €287,370 | +€5,143 | +1.8% |
| Transfer from tax-exempt reserves | 789 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €345,377 | €287,370 | -€58,007 | -16.8% |
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 24 October 2026 via checked.be.