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.
MALUMA
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+77.9%), from €1.7m to €2.9m
of which Land and buildings: +€1.3m
- Revaluation surpluses +€1.4m
new in 2025: €1.4m
- Reserves -€45,867
down €45,867 (-2.5%), from €1.9m to €1.8m
of which Distributable reserves: -€34,919
- Other debts -€34,769
down €34,769 (-100%), from €34,769 to €0
- Depreciation +€59,870
up €59,870 (+139%), from €43,192 to €103,063
- Gross operating margin +€27,208
up €27,208 (+53.5%), from €50,838 to €78,046
- Other operating charges +€13,193
up €13,193 (+141%), from €9,334 to €22,526
- Financial income +€2,152
up €2,152 (+731%), from €294 to €2,447
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,993,821 | €3,274,369 | +€1.3m | +64.2% |
| Fixed assets | 21/28 | €1,658,374 | €2,949,567 | +€1.3m | +77.9% |
| Tangible fixed assets | 22/27 | €1,658,374 | €2,949,567 | +€1.3m | +77.9% |
| Land and buildings | 22 | €1,582,475 | €2,877,298 | +€1.3m | +81.8% |
| Furniture and vehicles | 24 | €75,899 | €53,070 | -€22,829 | -30.1% |
| Other tangible fixed assets | 26 | - | €19,200 | +€19,200 | |
| Current assets | 29/58 | €335,447 | €324,802 | -€10,645 | -3.2% |
| Amounts receivable after more than one year | 29 | €123,383 | €108,588 | -€14,795 | -12.0% |
| Other amounts receivable | 291 | €123,383 | €108,588 | -€14,795 | -12.0% |
| Amounts receivable within one year | 40/41 | €29,306 | €14,581 | -€14,725 | -50.2% |
| Trade receivables | 40 | €28,221 | €13,419 | -€14,802 | -52.4% |
| Other amounts receivable | 41 | €1,085 | €1,162 | +€76 | +7.0% |
| Cash at bank and in hand | 54/58 | €181,114 | €199,007 | +€17,893 | +9.9% |
| Deferred charges and accrued income | 490/1 | €1,644 | €2,626 | +€982 | +59.7% |
| Total equity and liabilities | 10/49 | €1,993,821 | €3,274,369 | +€1.3m | +64.2% |
| Equity | 10/15 | €1,931,571 | €3,247,090 | +€1.3m | +68.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | - | -€62,000 | |
| Issued capital | 100 | €62,000 | - | -€62,000 | |
| Revaluation surpluses | 12 | - | €1,361,386 | +€1.4m | |
| Reserves | 13 | €1,869,571 | €1,823,704 | -€45,867 | -2.5% |
| Non-distributable reserves | 130/1 | €6,200 | €0 | -€6,200 | -100% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Tax-exempt reserves | 132 | €89,307 | €84,559 | -€4,749 | -5.3% |
| Distributable reserves | 133 | €1,774,064 | €1,739,145 | -€34,919 | -2.0% |
| Provisions and deferred taxes | 16 | €17,039 | €15,851 | -€1,187 | -7.0% |
| Deferred taxes | 168 | €17,039 | €15,851 | -€1,187 | -7.0% |
| Amounts payable | 17/49 | €45,211 | €11,427 | -€33,784 | -74.7% |
| Amounts payable after more than one year | 17 | €375 | €375 | = | 0.0% |
| Other amounts payable | 178/9 | €375 | €375 | = | 0.0% |
| Amounts payable within one year | 42/48 | €41,002 | €4,029 | -€36,974 | -90.2% |
| Trade debts | 44 | €5,555 | €2,603 | -€2,952 | -53.1% |
| Suppliers | 440/4 | €5,555 | €2,603 | -€2,952 | -53.1% |
| Taxes, remuneration and social security | 45 | €678 | €1,426 | +€748 | +110% |
| Taxes | 450/3 | €678 | €1,426 | +€748 | +110% |
| Other amounts payable | 47/48 | €34,769 | €0 | -€34,769 | -100% |
| Accrued charges and deferred income | 492/3 | €3,834 | €7,024 | +€3,190 | +83.2% |
| Non-recurring operating income | 76A | €22,842 | €0 | -€22,842 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,192 | €103,063 | +€59,870 | +139% |
| Other operating charges | 640/8 | €9,334 | €22,526 | +€13,193 | +141% |
| Non-recurring operating charges | 66A | €757 | €1,196 | +€438 | +57.8% |
| Gross operating margin | 9900 | €50,838 | €78,046 | +€27,208 | +53.5% |
| Operating profit (loss) | 9901 | -€2,445 | -€48,738 | -€46,294 | -1,894% |
| Financial income | 75/76B | €294 | €2,447 | +€2,152 | +731% |
| Recurring financial income | 75 | €294 | €2,447 | +€2,152 | +731% |
| Financial charges | 65/66B | €55 | €92 | +€37 | +68.5% |
| Recurring financial charges | 65 | €55 | €92 | +€37 | +68.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,205 | -€46,384 | -€44,179 | -2,003% |
| Transfer from deferred taxes | 780 | €648 | €1,187 | +€540 | +83.3% |
| Income taxes | 67/77 | €347 | €670 | +€323 | +93.0% |
| Profit (loss) for the period | 9904 | -€1,905 | -€45,867 | -€43,962 | -2,308% |
| Transfer from tax-exempt reserves | 789 | €2,590 | €4,749 | +€2,158 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €685 | -€41,119 | -€41,804 |
Source: filed annual accounts (NBB), financial years ended 31 August 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.