MALUMA: 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
MALUMA
NACE 69.209, Other tax advisory services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€203,442
2024 · €266,028-€62,586
Equity
€5.0m
2024 · €4.8m+€203,442
Cash
€22,049
2024 · €6,725+€15,325
Balance sheet total
€7.3m
2024 · €6.8m+€495,339
Largest movements
Assets
- Tangible fixed assets +€456,655
up €456,655 (+15.4%), from €3.0m to €3.4m
of which Leasing and similar rights: +€407,480
- Receivables after one year +€159,713
up €159,713 (+27.5%), from €580,081 to €739,794
- Current investments -€151,224
down €151,224 (-4.8%), from €3.2m to €3.0m
Equity and liabilities
- Current portion of long-term debt +€307,484
up €307,484 (+173%), from €178,037 to €485,520
- Profit (loss) carried forward +€222,817
up €222,817 (+9.5%), from €2.4m to €2.6m
- Other debts -€77,131
down €77,131 (-5.4%), from €1.4m to €1.3m
Income statement
- Gross operating margin +€231,460
up €231,460 (+303%), from €76,358 to €307,818
- Financial income -€196,649
down €196,649 (-45.6%), from €431,347 to €234,698
- Depreciation +€159,040
up €159,040 (+132%), from €120,506 to €279,546
- Financial charges -€63,668
down €63,668 (-57.3%), from €111,126 to €47,458
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
€266,028
Gross operating margin
+€231,460
Depreciation
-€159,040
Other operating charges
-€759
Other operating items
-€858
Financial income
-€196,649
Financial charges
+€63,668
Taxes
-€409
Result 2025
€203,442
raises the resultlowers the resultnot broken down further in the accounts
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
+€248,070
Investment
-€584,978
Financing
+€352,232
Cash 2024
€6,725
From operations (derived)
+€248,070
Net result for the year
+€203,442
Depreciation
+€279,546
Receivables after one year
-€159,713
Receivables within one year
-€3,487
Deferred charges and accrued income
-€11,384
Provisions
-€6,458
Trade debts
-€2,181
Tax, wage and social debts
+€19,453
Other debts
-€77,131
Accrued charges and deferred income
+€5,982
Investment (derived)
-€584,978
Investment in fixed assets (net)
-€736,201
Current investments
+€151,224
Financing
+€352,232
Debts after one year
+€44,671
Current portion of long-term debt
+€307,484
Short-term financial debts
+€77
Cash 2025
€22,049
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,774,973 | €7,270,312 | +€495,339 | +7.3% |
| Fixed assets | 21/28 | €2,969,392 | €3,426,047 | +€456,655 | +15.4% |
| Tangible fixed assets | 22/27 | €2,969,392 | €3,426,047 | +€456,655 | +15.4% |
| Land and buildings | 22 | €2,860,280 | €2,933,646 | +€73,366 | +2.6% |
| Furniture and vehicles | 24 | €78,139 | €53,948 | -€24,191 | -31.0% |
| Leasing and similar rights | 25 | €30,973 | €438,453 | +€407,480 | +1,316% |
| Current assets | 29/58 | €3,805,581 | €3,844,265 | +€38,684 | +1.0% |
| Amounts receivable after more than one year | 29 | €580,081 | €739,794 | +€159,713 | +27.5% |
| Trade receivables | 290 | €580,081 | €739,794 | +€159,713 | +27.5% |
| Amounts receivable within one year | 40/41 | €64,497 | €67,984 | +€3,487 | +5.4% |
| Trade receivables | 40 | €20,662 | €31,198 | +€10,536 | +51.0% |
| Other amounts receivable | 41 | €43,835 | €36,786 | -€7,050 | -16.1% |
| Current investments | 50/53 | €3,151,495 | €3,000,271 | -€151,224 | -4.8% |
| Cash at bank and in hand | 54/58 | €6,725 | €22,049 | +€15,325 | +228% |
| Deferred charges and accrued income | 490/1 | €2,783 | €14,167 | +€11,384 | +409% |
| Total equity and liabilities | 10/49 | €6,774,973 | €7,270,312 | +€495,339 | +7.3% |
| Equity | 10/15 | €4,818,012 | €5,021,453 | +€203,442 | +4.2% |
| Contributions | 10/11 | €190,000 | €190,000 | = | 0.0% |
| Reserves | 13 | €2,272,618 | €2,253,243 | -€19,375 | -0.9% |
| Non-distributable reserves | 130/1 | €19,000 | €19,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,000 | €19,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €474,696 | €455,321 | -€19,375 | -4.1% |
| Distributable reserves | 133 | €1,778,922 | €1,778,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,355,393 | €2,578,210 | +€222,817 | +9.5% |
| Provisions and deferred taxes | 16 | €158,232 | €151,774 | -€6,458 | -4.1% |
| Deferred taxes | 168 | €158,232 | €151,774 | -€6,458 | -4.1% |
| Amounts payable | 17/49 | €1,798,729 | €2,097,084 | +€298,356 | +16.6% |
| Amounts payable after more than one year | 17 | €181,564 | €226,235 | +€44,671 | +24.6% |
| Financial debts | 170/4 | €181,564 | €226,235 | +€44,671 | +24.6% |
| Amounts payable within one year | 42/48 | €1,617,165 | €1,864,867 | +€247,702 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €178,037 | €485,520 | +€307,484 | +173% |
| Financial debts | 43 | €1 | €78 | +€77 | +7,784% |
| Credit institutions | 430/8 | €1 | €78 | +€77 | +7,784% |
| Trade debts | 44 | €12,397 | €10,216 | -€2,181 | -17.6% |
| Suppliers | 440/4 | €12,397 | €10,216 | -€2,181 | -17.6% |
| Taxes, remuneration and social security | 45 | €3,028 | €22,481 | +€19,453 | +642% |
| Taxes | 450/3 | €3,028 | €22,481 | +€19,453 | +642% |
| Other amounts payable | 47/48 | €1,423,703 | €1,346,572 | -€77,131 | -5.4% |
| Accrued charges and deferred income | 492/3 | €0 | €5,982 | +€5,982 | |
| Non-recurring operating income | 76A | €2,200 | €0 | -€2,200 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,506 | €279,546 | +€159,040 | +132% |
| Other operating charges | 640/8 | €10,842 | €11,601 | +€759 | +7.0% |
| Non-recurring operating charges | 66A | - | €858 | +€858 | |
| Gross operating margin | 9900 | €76,358 | €307,818 | +€231,460 | +303% |
| Operating profit (loss) | 9901 | -€54,991 | €15,813 | +€70,803 | |
| Financial income | 75/76B | €431,347 | €234,698 | -€196,649 | -45.6% |
| Recurring financial income | 75 | €431,347 | €234,698 | -€196,649 | -45.6% |
| Financial charges | 65/66B | €111,126 | €47,458 | -€63,668 | -57.3% |
| Recurring financial charges | 65 | €111,126 | €47,458 | -€63,668 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €265,231 | €203,053 | -€62,178 | -23.4% |
| Transfer from deferred taxes | 780 | €6,458 | €6,458 | = | 0.0% |
| Income taxes | 67/77 | €5,660 | €6,069 | +€409 | +7.2% |
| Profit (loss) for the period | 9904 | €266,028 | €203,442 | -€62,586 | -23.5% |
| Transfer from tax-exempt reserves | 789 | €19,375 | €19,375 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €285,403 | €222,817 | -€62,586 | -21.9% |
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 17 October 2026 via checked.be.