Malve: 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.
Malve
Largest movements
- Intangible fixed assets -€306,338
down €306,338 (-16.6%), from €1.8m to €1.5m
- Financial fixed assets -€97,684
down €97,684 (-10.2%), from €956,278 to €858,594
- Deferred charges and accrued income -€84,047
down €84,047 (-75.6%), from €111,123 to €27,076
- Cash -€65,680
down €65,680 (-18.5%), from €355,117 to €289,437
mainly Contributions, distributions and other (-€650,000) and Short-term financial debts (-€500,000)
- Reserves +€820,464
up €820,464 (+214.4%), from €382,594 to €1.2m
of which Distributable reserves: +€799,414
- Contributions -€606,700
down €606,700 (-22.4%), from €2.7m to €2.1m
- Short-term financial debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Trade debts -€145,305
down €145,305 (-23.0%), from €630,404 to €485,100
- Debts after one year -€119,871
down €119,871 (-7.7%), from €1.6m to €1.4m
of which Other amounts payable: -€105,467
- Gross operating margin +€768,425
up €768,425 (+20.1%), from €3.8m to €4.6m
- Staff costs +€300,638
up €300,638 (+12.3%), from €2.4m to €2.7m
- Financial income +€161,879
up €161,879 (+24276.6%), from €667 to €162,545
- Taxes +€135,527
up €135,527 (+108.6%), from €124,809 to €260,335
- Depreciation +€62,143
up €62,143 (+10.5%), from €591,470 to €653,613
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 | €6,401,098 | €5,905,534 | -€495,563 | -7.7% |
| Fixed assets | 21/28 | €4,215,605 | €3,795,528 | -€420,077 | -10.0% |
| Intangible fixed assets | 21 | €1,846,616 | €1,540,278 | -€306,338 | -16.6% |
| Tangible fixed assets | 22/27 | €1,412,710 | €1,396,655 | -€16,055 | -1.1% |
| Land and buildings | 22 | €126,896 | €113,772 | -€13,124 | -10.3% |
| Plant, machinery and equipment | 23 | €1,182,754 | €1,204,449 | +€21,695 | +1.8% |
| Furniture and vehicles | 24 | €103,061 | €78,435 | -€24,626 | -23.9% |
| Financial fixed assets | 28 | €956,278 | €858,594 | -€97,684 | -10.2% |
| Current assets | 29/58 | €2,185,493 | €2,110,007 | -€75,486 | -3.5% |
| Stocks and contracts in progress | 3 | €456,777 | €470,464 | +€13,687 | +3.0% |
| Stocks | 30/36 | €456,777 | €470,464 | +€13,687 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,262,475 | €1,323,030 | +€60,555 | +4.8% |
| Trade receivables | 40 | €1,217,865 | €1,157,000 | -€60,866 | -5.0% |
| Other amounts receivable | 41 | €44,610 | €166,030 | +€121,420 | +272.2% |
| Cash at bank and in hand | 54/58 | €355,117 | €289,437 | -€65,680 | -18.5% |
| Deferred charges and accrued income | 490/1 | €111,123 | €27,076 | -€84,047 | -75.6% |
| Total equity and liabilities | 10/49 | €6,401,098 | €5,905,534 | -€495,563 | -7.7% |
| Equity | 10/15 | €3,088,872 | €3,302,636 | +€213,763 | +6.9% |
| Contributions | 10/11 | €2,706,278 | €2,099,578 | -€606,700 | -22.4% |
| Reserves | 13 | €382,594 | €1,203,058 | +€820,464 | +214.4% |
| Tax-exempt reserves | 132 | €189,450 | €210,500 | +€21,050 | +11.1% |
| Distributable reserves | 133 | €193,144 | €992,558 | +€799,414 | +413.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,312,225 | €2,602,899 | -€709,327 | -21.4% |
| Amounts payable after more than one year | 17 | €1,566,418 | €1,446,548 | -€119,871 | -7.7% |
| Financial debts | 170/4 | €483,085 | €468,682 | -€14,404 | -3.0% |
| Other amounts payable | 178/9 | €1,083,333 | €977,866 | -€105,467 | -9.7% |
| Amounts payable within one year | 42/48 | €1,745,807 | €1,156,351 | -€589,456 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €268,401 | €299,397 | +€30,996 | +11.5% |
| Financial debts | 43 | €500,000 | €0 | -€500,000 | -100.0% |
| Credit institutions | 430/8 | €500,000 | €0 | -€500,000 | -100.0% |
| Trade debts | 44 | €630,404 | €485,100 | -€145,305 | -23.0% |
| Suppliers | 440/4 | €630,404 | €485,100 | -€145,305 | -23.0% |
| Taxes, remuneration and social security | 45 | €281,374 | €340,655 | +€59,281 | +21.1% |
| Taxes | 450/3 | €414 | €11,481 | +€11,066 | +2671.3% |
| Remuneration and social security | 454/9 | €280,959 | €329,174 | +€48,215 | +17.2% |
| Other amounts payable | 47/48 | €65,628 | €31,200 | -€34,428 | -52.5% |
| Non-recurring operating income | 76A | - | €7,728 | +€7,728 | |
| Remuneration, social security and pensions | 62 | €2,446,578 | €2,747,216 | +€300,638 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €591,470 | €653,613 | +€62,143 | +10.5% |
| Other operating charges | 640/8 | €150,143 | €104,704 | -€45,439 | -30.3% |
| Non-recurring operating charges | 66A | - | €11,875 | +€11,875 | |
| Gross operating margin | 9900 | €3,828,848 | €4,597,274 | +€768,425 | +20.1% |
| Operating profit (loss) | 9901 | €640,657 | €1,079,865 | +€439,209 | +68.6% |
| Financial income | 75/76B | €667 | €162,545 | +€161,879 | +24276.6% |
| Recurring financial income | 75 | €667 | €162,545 | +€161,879 | +24276.6% |
| Financial charges | 65/66B | €133,920 | €118,312 | -€15,608 | -11.7% |
| Recurring financial charges | 65 | €133,920 | €118,312 | -€15,608 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €507,403 | €1,124,099 | +€616,696 | +121.5% |
| Income taxes | 67/77 | €124,809 | €260,335 | +€135,527 | +108.6% |
| Profit (loss) for the period | 9904 | €382,594 | €863,763 | +€481,169 | +125.8% |
| Transfer to tax-exempt reserves | 689 | €189,450 | €21,050 | -€168,400 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €193,144 | €842,713 | +€649,569 | +336.3% |
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 4 October 2026 via checked.be.