MALORO: 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.
MALORO
Largest movements
- Receivables after one year -€120,000
down €120,000 (-60.0%), from €200,000 to €80,000
- Tangible fixed assets -€10,542
down €10,542 (-16.1%), from €65,435 to €54,893
of which Furniture and vehicles: -€8,856
- Current investments +€8,297
up €8,297 (+6.2%), from €133,904 to €142,201
- Receivables within one year -€7,613
down €7,613 (-30.2%), from €25,205 to €17,592
of which Trade receivables: -€3,985
- Cash +€6,965
up €6,965 (+528%), from €1,318 to €8,283
mainly Receivables after one year (+€120,000) and Net result for the year (+€17,472)
- Other debts -€122,531
down €122,531 (-99.3%), from €123,408 to €876
- Reserves +€17,472
up €17,472 (+6.8%), from €255,999 to €273,470
of which Distributable reserves: +€17,472
- Short-term financial debts -€11,733
down €11,733 (-77.0%), from €15,237 to €3,504
- Accrued charges and deferred income -€8,716
down €8,716 (-100%), from €8,716 to €0
- Trade debts +€6,608
up €6,608 (+1,098%), from €602 to €7,210
- Gross operating margin -€19,630
down €19,630 (-30.2%), from €65,100 to €45,469
- Financial income -€19,510
down €19,510 (-65.9%), from €29,605 to €10,095
- Taxes -€7,823
down €7,823 (-45.1%), from €17,343 to €9,520
- Financial charges -€3,630
down €3,630 (-27.7%), from €13,106 to €9,476
- Depreciation -€985
down €985 (-6.4%), from €15,451 to €14,467
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 | €430,307 | €306,650 | -€123,657 | -28.7% |
| Fixed assets | 21/28 | €65,435 | €54,893 | -€10,542 | -16.1% |
| Tangible fixed assets | 22/27 | €65,435 | €54,893 | -€10,542 | -16.1% |
| Land and buildings | 22 | €44,613 | €42,928 | -€1,685 | -3.8% |
| Furniture and vehicles | 24 | €19,121 | €10,265 | -€8,856 | -46.3% |
| Other tangible fixed assets | 26 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €364,872 | €251,757 | -€113,116 | -31.0% |
| Amounts receivable after more than one year | 29 | €200,000 | €80,000 | -€120,000 | -60.0% |
| Other amounts receivable | 291 | €200,000 | €80,000 | -€120,000 | -60.0% |
| Amounts receivable within one year | 40/41 | €25,205 | €17,592 | -€7,613 | -30.2% |
| Trade receivables | 40 | €20,885 | €16,900 | -€3,985 | -19.1% |
| Other amounts receivable | 41 | €4,320 | €692 | -€3,628 | -84.0% |
| Current investments | 50/53 | €133,904 | €142,201 | +€8,297 | +6.2% |
| Cash at bank and in hand | 54/58 | €1,318 | €8,283 | +€6,965 | +528% |
| Deferred charges and accrued income | 490/1 | €4,445 | €3,681 | -€764 | -17.2% |
| Total equity and liabilities | 10/49 | €430,307 | €306,650 | -€123,657 | -28.7% |
| Equity | 10/15 | €268,399 | €285,870 | +€17,472 | +6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €255,999 | €273,470 | +€17,472 | +6.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €255,999 | €273,470 | +€17,472 | +6.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €161,909 | €20,780 | -€141,129 | -87.2% |
| Amounts payable within one year | 42/48 | €153,193 | €20,780 | -€132,413 | -86.4% |
| Financial debts | 43 | €15,237 | €3,504 | -€11,733 | -77.0% |
| Credit institutions | 430/8 | €15,237 | €3,504 | -€11,733 | -77.0% |
| Trade debts | 44 | €602 | €7,210 | +€6,608 | +1,098% |
| Suppliers | 440/4 | €602 | €7,210 | +€6,608 | +1,098% |
| Taxes, remuneration and social security | 45 | €13,946 | €9,189 | -€4,757 | -34.1% |
| Taxes | 450/3 | €13,946 | €9,189 | -€4,757 | -34.1% |
| Other amounts payable | 47/48 | €123,408 | €876 | -€122,531 | -99.3% |
| Accrued charges and deferred income | 492/3 | €8,716 | €0 | -€8,716 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,451 | €14,467 | -€985 | -6.4% |
| Other operating charges | 640/8 | €1,897 | €2,403 | +€506 | +26.7% |
| Non-recurring operating charges | 66A | - | €2,228 | +€2,228 | |
| Gross operating margin | 9900 | €65,100 | €45,469 | -€19,630 | -30.2% |
| Operating profit (loss) | 9901 | €47,752 | €26,372 | -€21,380 | -44.8% |
| Financial income | 75/76B | €29,605 | €10,095 | -€19,510 | -65.9% |
| Recurring financial income | 75 | €29,605 | €10,095 | -€19,510 | -65.9% |
| Financial charges | 65/66B | €13,106 | €9,476 | -€3,630 | -27.7% |
| Recurring financial charges | 65 | €13,106 | €9,476 | -€3,630 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €64,251 | €26,991 | -€37,260 | -58.0% |
| Income taxes | 67/77 | €17,343 | €9,520 | -€7,823 | -45.1% |
| Profit (loss) for the period | 9904 | €46,909 | €17,472 | -€29,437 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,909 | €17,472 | -€29,437 | -62.8% |
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 13 October 2026 via checked.be.