Malpertuus: 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.
Malpertuus
Largest movements
- Tangible fixed assets -€375,365
down €375,365 (-7.8%), from €4.8m to €4.5m
of which Leasing and similar rights: -€291,200
- Receivables within one year +€119,121
up €119,121 (+32.6%), from €365,084 to €484,205
of which Trade receivables: +€115,204
- Reserves +€472,806
up €472,806 (+12577.5%), from €3,759 to €476,565
of which Distributable reserves: +€470,313
- Profit (loss) carried forward -€379,150
down €379,150 (-100.0%), from €379,150 to €0
- Accrued charges and deferred income -€239,830
down €239,830 (-8.4%), from €2.9m to €2.6m
- Trade debts +€217,603
up €217,603 (+449.7%), from €48,385 to €265,988
- Debts after one year -€209,917
down €209,917 (-8.7%), from €2.4m to €2.2m
- Gross operating margin -€96,926
down €96,926 (-20.8%), from €466,808 to €369,882
- Taxes -€11,417
down €11,417 (-24.6%), from €46,498 to €35,081
- Financial charges -€8,091
down €8,091 (-19.1%), from €42,264 to €34,173
- Financial income -€5,628
down €5,628 (-24.7%), from €22,821 to €17,193
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 | €6,300,349 | €6,100,309 | -€200,039 | -3.2% |
| Fixed assets | 21/28 | €4,966,233 | €4,590,868 | -€375,365 | -7.6% |
| Tangible fixed assets | 22/27 | €4,828,008 | €4,452,642 | -€375,365 | -7.8% |
| Land and buildings | 22 | €1,061,084 | €976,918 | -€84,165 | -7.9% |
| Leasing and similar rights | 25 | €3,582,647 | €3,291,447 | -€291,200 | -8.1% |
| Other tangible fixed assets | 26 | €184,277 | €184,277 | = | 0.0% |
| Financial fixed assets | 28 | €138,226 | €138,226 | = | 0.0% |
| Current assets | 29/58 | €1,334,115 | €1,509,441 | +€175,326 | +13.1% |
| Amounts receivable after more than one year | 29 | €885,000 | €885,000 | = | 0.0% |
| Other amounts receivable | 291 | €885,000 | €885,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €365,084 | €484,205 | +€119,121 | +32.6% |
| Trade receivables | 40 | €103,900 | €219,104 | +€115,204 | +110.9% |
| Other amounts receivable | 41 | €261,184 | €265,102 | +€3,918 | +1.5% |
| Cash at bank and in hand | 54/58 | €2,407 | €308 | -€2,099 | -87.2% |
| Deferred charges and accrued income | 490/1 | €81,624 | €139,928 | +€58,303 | +71.4% |
| Total equity and liabilities | 10/49 | €6,300,349 | €6,100,309 | -€200,039 | -3.2% |
| Equity | 10/15 | €445,410 | €539,085 | +€93,676 | +21.0% |
| Contributions | 10/11 | €62,500 | €62,520 | +€20 | 0.0% |
| Capital | 10 | - | €62,520 | +€62,520 | |
| Issued capital | 100 | - | €62,520 | +€62,520 | |
| Contributions outside capital | 11 | €62,500 | €0 | -€62,500 | -100.0% |
| Other | 1109/19 | €62,500 | €0 | -€62,500 | -100.0% |
| Reserves | 13 | €3,759 | €476,565 | +€472,806 | +12577.5% |
| Non-distributable reserves | 130/1 | €3,759 | €6,252 | +€2,493 | +66.3% |
| Legal reserve | 130 | - | €6,252 | +€6,252 | |
| Reserves not available under the articles | 1311 | €3,759 | €0 | -€3,759 | -100.0% |
| Distributable reserves | 133 | - | €470,313 | +€470,313 | |
| Profit (loss) carried forward | 14 | €379,150 | €0 | -€379,150 | -100.0% |
| Amounts payable | 17/49 | €5,854,939 | €5,561,224 | -€293,715 | -5.0% |
| Amounts payable after more than one year | 17 | €2,406,002 | €2,196,084 | -€209,917 | -8.7% |
| Financial debts | 170/4 | €2,406,002 | €2,196,084 | -€209,917 | -8.7% |
| Amounts payable within one year | 42/48 | €584,117 | €740,150 | +€156,032 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €166,943 | €209,917 | +€42,974 | +25.7% |
| Trade debts | 44 | €48,385 | €265,988 | +€217,603 | +449.7% |
| Suppliers | 440/4 | €48,385 | €265,988 | +€217,603 | +449.7% |
| Taxes, remuneration and social security | 45 | €58,790 | €54,245 | -€4,545 | -7.7% |
| Taxes | 450/3 | €58,790 | €54,245 | -€4,545 | -7.7% |
| Other amounts payable | 47/48 | €310,000 | €210,000 | -€100,000 | -32.3% |
| Accrued charges and deferred income | 492/3 | €2,864,820 | €2,624,990 | -€239,830 | -8.4% |
| Remuneration, social security and pensions | 62 | €434 | €0 | -€434 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375,365 | €375,365 | = | 0.0% |
| Other operating charges | 640/8 | €37,165 | €38,630 | +€1,464 | +3.9% |
| Gross operating margin | 9900 | €466,808 | €369,882 | -€96,926 | -20.8% |
| Operating profit (loss) | 9901 | €53,843 | -€44,113 | -€97,957 | |
| Financial income | 75/76B | €22,821 | €17,193 | -€5,628 | -24.7% |
| Recurring financial income | 75 | €22,821 | €17,193 | -€5,628 | -24.7% |
| Financial charges | 65/66B | €42,264 | €34,173 | -€8,091 | -19.1% |
| Recurring financial charges | 65 | €42,264 | €34,173 | -€8,091 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €34,401 | -€61,094 | -€95,494 | |
| Transfer from deferred taxes | 780 | €239,830 | €239,830 | = | 0.0% |
| Income taxes | 67/77 | €46,498 | €35,081 | -€11,417 | -24.6% |
| Profit (loss) for the period | 9904 | €227,733 | €143,656 | -€84,077 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €227,733 | €143,656 | -€84,077 | -36.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.