MALOU: 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.
MALOU
Largest movements
- Tangible fixed assets -€106,943
down €106,943 (-8.9%), from €1.2m to €1.1m
of which Land and buildings: -€83,686
- Cash +€66,611
up €66,611 (+110.3%), from €60,414 to €127,024
mainly Net result for the year (+€162,797) and Depreciation (+€106,943)
- Receivables within one year -€34,527
no longer reported in 2025 (was €34,527)
of which Trade receivables: -€30,250
- Debts after one year -€180,513
down €180,513 (-19.0%), from €949,015 to €768,502
of which Other amounts payable: -€122,146
- Profit (loss) carried forward +€162,797
up €162,797 (+90.8%), from €179,257 to €342,054
- Tax, wage and social debts -€58,839
down €58,839 (-76.3%), from €77,130 to €18,291
- Gross operating margin +€89,092
up €89,092 (+37.2%), from €239,455 to €328,548
- Taxes +€21,875
up €21,875 (+85.0%), from €25,723 to €47,599
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 | €1,291,071 | €1,216,212 | -€74,859 | -5.8% |
| Fixed assets | 21/28 | €1,196,131 | €1,089,188 | -€106,943 | -8.9% |
| Tangible fixed assets | 22/27 | €1,196,021 | €1,089,078 | -€106,943 | -8.9% |
| Land and buildings | 22 | €1,138,174 | €1,054,487 | -€83,686 | -7.4% |
| Furniture and vehicles | 24 | €57,848 | €34,591 | -€23,257 | -40.2% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €94,940 | €127,024 | +€32,084 | +33.8% |
| Amounts receivable within one year | 40/41 | €34,527 | - | -€34,527 | |
| Trade receivables | 40 | €30,250 | - | -€30,250 | |
| Other amounts receivable | 41 | €4,277 | - | -€4,277 | |
| Cash at bank and in hand | 54/58 | €60,414 | €127,024 | +€66,611 | +110.3% |
| Total equity and liabilities | 10/49 | €1,291,071 | €1,216,212 | -€74,859 | -5.8% |
| Equity | 10/15 | €199,257 | €362,054 | +€162,797 | +81.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,257 | €342,054 | +€162,797 | +90.8% |
| Amounts payable | 17/49 | €1,091,814 | €854,159 | -€237,656 | -21.8% |
| Amounts payable after more than one year | 17 | €949,015 | €768,502 | -€180,513 | -19.0% |
| Financial debts | 170/4 | €689,988 | €631,621 | -€58,367 | -8.5% |
| Other amounts payable | 178/9 | €259,027 | €136,881 | -€122,146 | -47.2% |
| Amounts payable within one year | 42/48 | €142,799 | €85,656 | -€57,143 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €57,896 | €58,367 | +€471 | +0.8% |
| Trade debts | 44 | €7,774 | €8,999 | +€1,225 | +15.8% |
| Suppliers | 440/4 | €7,774 | €8,999 | +€1,225 | +15.8% |
| Taxes, remuneration and social security | 45 | €77,130 | €18,291 | -€58,839 | -76.3% |
| Taxes | 450/3 | €77,130 | €18,291 | -€58,839 | -76.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,943 | €106,943 | = | 0.0% |
| Other operating charges | 640/8 | €3,201 | €5,233 | +€2,032 | +63.5% |
| Gross operating margin | 9900 | €239,455 | €328,548 | +€89,092 | +37.2% |
| Operating profit (loss) | 9901 | €129,312 | €216,372 | +€87,060 | +67.3% |
| Financial charges | 65/66B | €6,418 | €5,976 | -€442 | -6.9% |
| Recurring financial charges | 65 | €6,418 | €5,976 | -€442 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €122,894 | €210,396 | +€87,502 | +71.2% |
| Income taxes | 67/77 | €25,723 | €47,599 | +€21,875 | +85.0% |
| Profit (loss) for the period | 9904 | €97,170 | €162,797 | +€65,626 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €97,170 | €162,797 | +€65,626 | +67.5% |
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 11 October 2026 via checked.be.