MALPY INVEST: 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.
What changed
MALPY INVEST
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€420,932
2024 · €1.1m-€649,371
Equity
€19.5m
2024 · €20.1m-€579,068
Cash
€243,000
2024 · €261,086-€18,085
Balance sheet total
€21.0m
2024 · €21.5m-€560,357
Largest movements
Assets
- Current investments -€882,803
down €882,803 (-29.4%), from €3.0m to €2.1m
- Financial fixed assets +€250,000
up €250,000 (+1.4%), from €18.2m to €18.4m
of which Other financial fixed assets: +€250,000
Equity and liabilities
- Contributions -€350,000
down €350,000 (-4.6%), from €7.6m to €7.3m
of which Capital: -€350,000
- Other debts +€238,507
up €238,507 (+35.1%), from €680,433 to €918,940
- Reserves -€229,068
down €229,068 (-1.8%), from €12.5m to €12.3m
of which Distributable reserves: -€229,068
Income statement
- Financial income -€687,530
down €687,530 (-61.2%), from €1.1m to €436,191
- Services and other goods -€16,636
down €16,636 (-13.1%), from €126,734 to €110,097
- Taxes -€9,253
down €9,253 (-17.8%), from €52,111 to €42,858
- Financial charges -€8,500
down €8,500 (-18.2%), from €46,621 to €38,121
- Turnover +€6,056
up €6,056 (+3.6%), from €170,117 to €176,173
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.
Result 2024
€1.1m
Turnover
+€6,056
Other operating income
+€195
Services and other goods
+€16,636
Depreciation
-€2,254
Other operating charges
-€226
Financial income
-€687,530
Financial charges
+€8,500
Taxes
+€9,253
Result 2025
€420,932
raises the resultlowers the result
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.
From operations
+€553,093
Investment
+€628,736
Financing
-€1.2m
Cash 2024
€261,086
From operations (derived)
+€553,093
Net result for the year
+€420,932
Depreciation
+€4,577
Receivables within one year
-€91,513
Smaller working-capital items
-€175
Trade debts
-€14,221
Other debts
+€238,507
Accrued charges and deferred income
-€5,014
Investment (derived)
+€628,736
Investment in fixed assets (net)
-€254,067
Current investments
+€882,803
Financing
-€1.2m
Debts after one year
-€204,092
Current portion of long-term debt
+€4,178
Contributions, distributions and other
-€1.0m
Cash 2025
€243,000
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,512,915 | €20,952,558 | -€560,357 | -2.6% |
| Fixed assets | 21/28 | €18,192,495 | €18,441,985 | +€249,490 | +1.4% |
| Tangible fixed assets | 22/27 | €11,768 | €11,258 | -€510 | -4.3% |
| Furniture and vehicles | 24 | €11,768 | €9,986 | -€1,782 | -15.1% |
| Other tangible fixed assets | 26 | - | €1,272 | +€1,272 | |
| Financial fixed assets | 28 | €18,180,727 | €18,430,727 | +€250,000 | +1.4% |
| Affiliated companies | 280/1 | €16,821,803 | €16,821,803 | = | 0.0% |
| Participating interests | 280 | €14,611,803 | €14,611,803 | = | 0.0% |
| Amounts receivable | 281 | €2,210,000 | €2,210,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,358,924 | €1,608,924 | +€250,000 | +18.4% |
| Shares | 284 | €1,358,924 | €1,608,924 | +€250,000 | +18.4% |
| Current assets | 29/58 | €3,320,420 | €2,510,573 | -€809,847 | -24.4% |
| Amounts receivable within one year | 40/41 | €29,586 | €121,099 | +€91,513 | +309% |
| Trade receivables | 40 | €16,019 | €19,563 | +€3,544 | +22.1% |
| Other amounts receivable | 41 | €13,567 | €101,536 | +€87,969 | +648% |
| Current investments | 50/53 | €3,000,000 | €2,117,197 | -€882,803 | -29.4% |
| Other investments | 51/53 | €3,000,000 | €2,117,197 | -€882,803 | -29.4% |
| Cash at bank and in hand | 54/58 | €261,086 | €243,000 | -€18,085 | -6.9% |
| Deferred charges and accrued income | 490/1 | €29,748 | €29,277 | -€471 | -1.6% |
| Total equity and liabilities | 10/49 | €21,512,915 | €20,952,558 | -€560,357 | -2.6% |
| Equity | 10/15 | €20,127,714 | €19,548,646 | -€579,068 | -2.9% |
| Contributions | 10/11 | €7,622,125 | €7,272,125 | -€350,000 | -4.6% |
| Capital | 10 | €7,489,955 | €7,139,955 | -€350,000 | -4.7% |
| Issued capital | 100 | €7,489,955 | €7,139,955 | -€350,000 | -4.7% |
| Contributions outside capital | 11 | €132,170 | €132,170 | = | 0.0% |
| Share premium | 1100/10 | €132,170 | €132,170 | = | 0.0% |
| Reserves | 13 | €12,505,589 | €12,276,521 | -€229,068 | -1.8% |
| Non-distributable reserves | 130/1 | €748,996 | €748,996 | = | 0.0% |
| Legal reserve | 130 | €748,996 | €748,996 | = | 0.0% |
| Distributable reserves | 133 | €11,756,594 | €11,527,526 | -€229,068 | -1.9% |
| Amounts payable | 17/49 | €1,385,201 | €1,403,912 | +€18,711 | +1.4% |
| Amounts payable after more than one year | 17 | €412,449 | €208,357 | -€204,092 | -49.5% |
| Financial debts | 170/4 | €412,449 | €208,357 | -€204,092 | -49.5% |
| Credit institutions | 173 | €412,449 | €208,357 | -€204,092 | -49.5% |
| Amounts payable within one year | 42/48 | €919,931 | €1,147,749 | +€227,818 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €199,914 | €204,092 | +€4,178 | +2.1% |
| Trade debts | 44 | €21,934 | €7,713 | -€14,221 | -64.8% |
| Suppliers | 440/4 | €21,934 | €7,713 | -€14,221 | -64.8% |
| Taxes, remuneration and social security | 45 | €17,650 | €17,004 | -€646 | -3.7% |
| Taxes | 450/3 | €17,650 | €17,004 | -€646 | -3.7% |
| Other amounts payable | 47/48 | €680,433 | €918,940 | +€238,507 | +35.1% |
| Accrued charges and deferred income | 492/3 | €52,820 | €47,806 | -€5,014 | -9.5% |
| Operating income | 70/76A | €176,453 | €182,703 | +€6,250 | +3.5% |
| Turnover | 70 | €170,117 | €176,173 | +€6,056 | +3.6% |
| Other operating income | 74 | €6,336 | €6,530 | +€195 | +3.1% |
| Operating charges | 60/66A | €131,139 | €116,983 | -€14,156 | -10.8% |
| Services and other goods | 61 | €126,734 | €110,097 | -€16,636 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,323 | €4,577 | +€2,254 | +97.1% |
| Other operating charges | 640/8 | €2,083 | €2,310 | +€226 | +10.9% |
| Operating profit (loss) | 9901 | €45,314 | €65,720 | +€20,406 | +45.0% |
| Financial income | 75/76B | €1,123,721 | €436,191 | -€687,530 | -61.2% |
| Recurring financial income | 75 | €1,123,721 | €436,191 | -€687,530 | -61.2% |
| Income from financial fixed assets | 750 | €1,021,994 | €393,194 | -€628,800 | -61.5% |
| Income from current assets | 751 | €101,727 | €42,997 | -€58,730 | -57.7% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €46,621 | €38,121 | -€8,500 | -18.2% |
| Recurring financial charges | 65 | €46,621 | €38,121 | -€8,500 | -18.2% |
| Debt charges | 650 | €46,337 | €37,974 | -€8,364 | -18.0% |
| Other financial charges | 652/9 | €284 | €148 | -€136 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €1,122,414 | €463,790 | -€658,625 | -58.7% |
| Income taxes | 67/77 | €52,111 | €42,858 | -€9,253 | -17.8% |
| Taxes | 670/3 | €52,111 | €42,858 | -€9,253 | -17.8% |
| Profit (loss) for the period | 9904 | €1,070,304 | €420,932 | -€649,371 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,070,304 | €420,932 | -€649,371 | -60.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.