MALOU CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets -€359,736
down €359,736 (-19.6%), from €1.8m to €1.5m
of which Land and buildings: -€354,671
- Cash +€324,069
up €324,069 (+1354.6%), from €23,924 to €347,993
mainly Investment in fixed assets (net) (+€286,364) and Net result for the year (+€177,266)
- Reserves +€111,477
up €111,477 (+309.7%), from €36,000 to €147,477
of which Tax-exempt reserves: +€111,477
- Debts after one year -€108,667
down €108,667 (-16.9%), from €643,055 to €534,388
of which Financial debts: -€108,667
- Gross operating margin +€231,355
up €231,355, from -€36,910 to €194,445
- Financial income -€152,645
down €152,645 (-65.3%), from €233,765 to €81,120
of which Non-recurring financial income: -€147,318
- Depreciation -€8,732
down €8,732 (-10.6%), from €82,104 to €73,372
- Other operating charges +€5,531
up €5,531 (+50.3%), from €10,995 to €16,525
- Financial charges -€3,820
down €3,820 (-20.1%), from €18,978 to €15,158
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 | €5,910,700 | €5,865,562 | -€45,138 | -0.8% |
| Fixed assets | 21/28 | €5,608,643 | €5,248,907 | -€359,736 | -6.4% |
| Tangible fixed assets | 22/27 | €1,838,522 | €1,478,786 | -€359,736 | -19.6% |
| Land and buildings | 22 | €1,826,303 | €1,471,632 | -€354,671 | -19.4% |
| Plant, machinery and equipment | 23 | €8,586 | €5,494 | -€3,091 | -36.0% |
| Furniture and vehicles | 24 | €3,633 | €1,659 | -€1,973 | -54.3% |
| Financial fixed assets | 28 | €3,770,121 | €3,770,121 | = | 0.0% |
| Current assets | 29/58 | €302,058 | €616,655 | +€314,597 | +104.2% |
| Amounts receivable within one year | 40/41 | €16,201 | €11,819 | -€4,382 | -27.0% |
| Trade receivables | 40 | €11,690 | €11,684 | -€6 | -0.1% |
| Other amounts receivable | 41 | €4,510 | €135 | -€4,376 | -97.0% |
| Current investments | 50/53 | €249,993 | €249,993 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,924 | €347,993 | +€324,069 | +1354.6% |
| Deferred charges and accrued income | 490/1 | €11,941 | €6,851 | -€5,090 | -42.6% |
| Total equity and liabilities | 10/49 | €5,910,700 | €5,865,562 | -€45,138 | -0.8% |
| Equity | 10/15 | €4,688,634 | €4,800,186 | +€111,552 | +2.4% |
| Contributions | 10/11 | €4,762,000 | €4,762,000 | = | 0.0% |
| Reserves | 13 | €36,000 | €147,477 | +€111,477 | +309.7% |
| Tax-exempt reserves | 132 | - | €111,477 | +€111,477 | |
| Distributable reserves | 133 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,366 | -€109,291 | +€74 | +0.1% |
| Provisions and deferred taxes | 16 | €374,206 | €367,034 | -€7,171 | -1.9% |
| Deferred taxes | 168 | €374,206 | €367,034 | -€7,171 | -1.9% |
| Amounts payable | 17/49 | €847,860 | €698,341 | -€149,519 | -17.6% |
| Amounts payable after more than one year | 17 | €643,055 | €534,388 | -€108,667 | -16.9% |
| Financial debts | 170/4 | €643,055 | €534,388 | -€108,667 | -16.9% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €202,394 | €162,803 | -€39,591 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €108,667 | €108,667 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €14,399 | €6,874 | -€7,525 | -52.3% |
| Suppliers | 440/4 | €14,399 | €6,874 | -€7,525 | -52.3% |
| Taxes, remuneration and social security | 45 | €24,328 | €9,495 | -€14,833 | -61.0% |
| Taxes | 450/3 | €20,898 | €9,495 | -€11,403 | -54.6% |
| Remuneration and social security | 454/9 | €3,430 | €0 | -€3,430 | -100.0% |
| Other amounts payable | 47/48 | €55,000 | €37,768 | -€17,232 | -31.3% |
| Accrued charges and deferred income | 492/3 | €2,411 | €1,150 | -€1,261 | -52.3% |
| Non-recurring operating income | 76A | €0 | €167,402 | +€167,402 | |
| Remuneration, social security and pensions | 62 | -€381 | €0 | +€381 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,104 | €73,372 | -€8,732 | -10.6% |
| Other operating charges | 640/8 | €10,995 | €16,525 | +€5,531 | +50.3% |
| Gross operating margin | 9900 | -€36,910 | €194,445 | +€231,355 | |
| Operating profit (loss) | 9901 | -€129,628 | €104,547 | +€234,175 | |
| Financial income | 75/76B | €233,765 | €81,120 | -€152,645 | -65.3% |
| Recurring financial income | 75 | €86,447 | €81,120 | -€5,327 | -6.2% |
| Non-recurring financial income | 76B | €147,318 | €0 | -€147,318 | -100.0% |
| Financial charges | 65/66B | €18,978 | €15,158 | -€3,820 | -20.1% |
| Recurring financial charges | 65 | €18,978 | €15,158 | -€3,820 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €85,159 | €170,509 | +€85,350 | +100.2% |
| Transfer from deferred taxes | 780 | €10,921 | €44,330 | +€33,410 | +305.9% |
| Transfer to deferred taxes | 680 | - | €37,159 | +€37,159 | |
| Income taxes | 67/77 | €4,014 | €415 | -€3,599 | -89.7% |
| Profit (loss) for the period | 9904 | €92,066 | €177,266 | +€85,200 | +92.5% |
| Transfer to tax-exempt reserves | 689 | - | €111,477 | +€111,477 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,066 | €65,789 | -€26,277 | -28.5% |
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 9 October 2026 via checked.be.