MALPERTUUS: what changed
Two fiscal 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
- Cash +€58,071
up €58,071 (+35.9%), from €161,586 to €219,657
mainly Net result for the year (+€49,862) and Depreciation (+€9,548)
- Reserves +€49,862
up €49,862 (+12.8%), from €389,189 to €439,051
of which Distributable reserves: +€49,862
- Financial income -€149,175
down €149,175 (-99.3%), from €150,190 to €1,015
of which Non-recurring financial income: -€145,632
- Taxes -€14,166
down €14,166 (-37.8%), from €37,435 to €23,269
- Gross operating margin +€5,094
up €5,094 (+5.7%), from €89,992 to €95,086
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 | €452,398 | €507,303 | +€54,905 | +12.1% |
| Fixed assets | 21/28 | €290,812 | €287,084 | -€3,729 | -1.3% |
| Tangible fixed assets | 22/27 | €290,812 | €287,084 | -€3,729 | -1.3% |
| Land and buildings | 22 | €290,812 | €287,084 | -€3,729 | -1.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €161,586 | €220,219 | +€58,633 | +36.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €161,586 | €219,657 | +€58,071 | +35.9% |
| Deferred charges and accrued income | 490/1 | - | €562 | +€562 | |
| Total equity and liabilities | 10/49 | €452,398 | €507,303 | +€54,905 | +12.1% |
| Equity | 10/15 | €451,189 | €501,051 | +€49,862 | +11.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €389,189 | €439,051 | +€49,862 | +12.8% |
| Non-distributable reserves | 130/1 | €7,906 | €7,906 | = | 0.0% |
| Legal reserve | 130 | €7,906 | €7,906 | = | 0.0% |
| Distributable reserves | 133 | €381,283 | €431,145 | +€49,862 | +13.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,209 | €6,252 | +€5,043 | +417.2% |
| Amounts payable within one year | 42/48 | €68 | €4,964 | +€4,897 | +7222.0% |
| Taxes, remuneration and social security | 45 | €68 | €4,964 | +€4,897 | +7222.0% |
| Taxes | 450/3 | €68 | €4,964 | +€4,897 | +7222.0% |
| Accrued charges and deferred income | 492/3 | €1,141 | €1,288 | +€147 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,322 | €9,548 | +€226 | +2.4% |
| Other operating charges | 640/8 | €13,062 | €13,392 | +€330 | +2.5% |
| Gross operating margin | 9900 | €89,992 | €95,086 | +€5,094 | +5.7% |
| Operating profit (loss) | 9901 | €67,608 | €72,146 | +€4,537 | +6.7% |
| Financial income | 75/76B | €150,190 | €1,015 | -€149,175 | -99.3% |
| Recurring financial income | 75 | €4,558 | €1,015 | -€3,543 | -77.7% |
| Non-recurring financial income | 76B | €145,632 | €0 | -€145,632 | -100.0% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €217,769 | €73,130 | -€144,639 | -66.4% |
| Income taxes | 67/77 | €37,435 | €23,269 | -€14,166 | -37.8% |
| Profit (loss) for the period | 9904 | €180,335 | €49,862 | -€130,473 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €180,335 | €49,862 | -€130,473 | -72.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.