MALUVER: what changed
What changed
MALUVER
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€39,604
2024 · -€235,443+€275,047
Equity
€1.0m
2024 · €1.0m+€39,604
Cash
€168,528
2024 · €22,760+€145,768
Balance sheet total
€7.9m
2024 · €9.5m-€1.6m
Largest movements
Assets
- Tangible fixed assets -€1.4m
down €1.4m (-15.2%), from €9.1m to €7.7m
of which Land and buildings: -€1.4m
- Financial fixed assets -€362,040
down €362,040 (-95.4%), from €379,400 to €17,360
- Cash +€145,768
up €145,768 (+640%), from €22,760 to €168,528
mainly Other debts (+€2.1m) and Investment in fixed assets (net) (+€1.2m)
Equity and liabilities
- Debts after one year -€3.5m
down €3.5m (-49.0%), from €7.2m to €3.6m
- Other debts +€2.1m
up €2.1m (+286%), from €721,912 to €2.8m
- Current portion of long-term debt -€195,132
down €195,132 (-40.5%), from €481,587 to €286,455
Income statement
- Gross operating margin +€170,671
up €170,671 (+18.6%), from €915,431 to €1.1m
- Financial charges -€112,750
down €112,750 (-30.8%), from €366,583 to €253,833
- Depreciation -€49,734
down €49,734 (-8.0%), from €618,206 to €568,472
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€235,443
Gross operating margin
+€170,671
Staff costs
+€7,655
Depreciation
+€49,734
Other operating charges
+€2,770
Other operating items
-€68,897
Financial income
+€84
Financial charges
+€112,750
Taxes
+€280
Result 2025
€39,604
raises the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.7m
Investment
+€1.2m
Financing
-€3.7m
Cash 2024
€22,760
From operations (derived)
+€2.7m
Net result for the year
+€39,604
Depreciation
+€568,472
Deferred charges and accrued income
+€35,406
Smaller working-capital items
-€9,084
Other debts
+€2.1m
Accrued charges and deferred income
-€17,266
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.2m
Financing
-€3.7m
Debts after one year
-€3.5m
Current portion of long-term debt
-€195,132
Cash 2025
€168,528
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,498,235 | €7,870,144 | -€1.6m | -17.1% |
| Fixed assets | 21/28 | €9,437,222 | €7,698,769 | -€1.7m | -18.4% |
| Tangible fixed assets | 22/27 | €9,057,822 | €7,681,409 | -€1.4m | -15.2% |
| Land and buildings | 22 | €9,012,783 | €7,648,172 | -€1.4m | -15.1% |
| Plant, machinery and equipment | 23 | €8,492 | €4,664 | -€3,828 | -45.1% |
| Furniture and vehicles | 24 | €36,547 | €28,573 | -€7,974 | -21.8% |
| Financial fixed assets | 28 | €379,400 | €17,360 | -€362,040 | -95.4% |
| Current assets | 29/58 | €61,013 | €171,375 | +€110,362 | +181% |
| Cash at bank and in hand | 54/58 | €22,760 | €168,528 | +€145,768 | +640% |
| Deferred charges and accrued income | 490/1 | €38,253 | €2,847 | -€35,406 | -92.6% |
| Total equity and liabilities | 10/49 | €9,498,235 | €7,870,144 | -€1.6m | -17.1% |
| Equity | 10/15 | €1,009,611 | €1,049,215 | +€39,604 | +3.9% |
| Contributions | 10/11 | €142,539 | €142,539 | = | 0.0% |
| Capital | 10 | €142,530 | €142,530 | = | 0.0% |
| Issued capital | 100 | €142,530 | €142,530 | = | 0.0% |
| Contributions outside capital | 11 | €9 | €9 | = | 0.0% |
| Share premium | 1100/10 | €9 | €9 | = | 0.0% |
| Reserves | 13 | €867,072 | €906,676 | +€39,604 | +4.6% |
| Non-distributable reserves | 130/1 | €14,253 | €14,253 | = | 0.0% |
| Legal reserve | 130 | €14,253 | €14,253 | = | 0.0% |
| Tax-exempt reserves | 132 | €131,292 | €123,689 | -€7,603 | -5.8% |
| Distributable reserves | 133 | €721,527 | €768,734 | +€47,207 | +6.5% |
| Provisions and deferred taxes | 16 | €43,764 | €41,230 | -€2,534 | -5.8% |
| Deferred taxes | 168 | €43,764 | €41,230 | -€2,534 | -5.8% |
| Amounts payable | 17/49 | €8,444,860 | €6,779,699 | -€1.7m | -19.7% |
| Amounts payable after more than one year | 17 | €7,161,152 | €3,649,078 | -€3.5m | -49.0% |
| Financial debts | 170/4 | €7,161,152 | €3,649,078 | -€3.5m | -49.0% |
| Amounts payable within one year | 42/48 | €1,248,572 | €3,112,751 | +€1.9m | +149% |
| Current portion of amounts payable after more than one year | 42 | €481,587 | €286,455 | -€195,132 | -40.5% |
| Trade debts | 44 | €31,921 | €25,650 | -€6,271 | -19.6% |
| Suppliers | 440/4 | €31,921 | €25,650 | -€6,271 | -19.6% |
| Taxes, remuneration and social security | 45 | €13,152 | €12,873 | -€279 | -2.1% |
| Taxes | 450/3 | €524 | €245 | -€279 | -53.2% |
| Remuneration and social security | 454/9 | €12,628 | €12,628 | = | 0.0% |
| Other amounts payable | 47/48 | €721,912 | €2,787,773 | +€2.1m | +286% |
| Accrued charges and deferred income | 492/3 | €35,136 | €17,870 | -€17,266 | -49.1% |
| Non-recurring operating income | 76A | €19 | €147,618 | +€147,599 | +776,837% |
| Remuneration, social security and pensions | 62 | €102,038 | €94,383 | -€7,655 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €618,206 | €568,472 | -€49,734 | -8.0% |
| Other operating charges | 640/8 | €66,058 | €63,288 | -€2,770 | -4.2% |
| Non-recurring operating charges | 66A | - | €68,897 | +€68,897 | |
| Gross operating margin | 9900 | €915,431 | €1,086,102 | +€170,671 | +18.6% |
| Operating profit (loss) | 9901 | €129,129 | €291,062 | +€161,933 | +125% |
| Financial income | 75/76B | - | €84 | +€84 | |
| Recurring financial income | 75 | - | €84 | +€84 | |
| Financial charges | 65/66B | €366,583 | €253,833 | -€112,750 | -30.8% |
| Recurring financial charges | 65 | €366,583 | €253,833 | -€112,750 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | -€237,454 | €37,313 | +€274,767 | |
| Transfer from deferred taxes | 780 | €2,535 | €2,535 | = | 0.0% |
| Income taxes | 67/77 | €524 | €244 | -€280 | -53.4% |
| Profit (loss) for the period | 9904 | -€235,443 | €39,604 | +€275,047 | |
| Transfer from tax-exempt reserves | 789 | €7,603 | €7,603 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€227,840 | €47,207 | +€275,047 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.