Philippe Malarme: 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.
Philippe Malarme
Largest movements
- Receivables within one year +€10,930
up €10,930 (+41.2%), from €26,538 to €37,468
of which Other amounts receivable: +€8,882
- Cash +€9,698
up €9,698 (+103.8%), from €9,341 to €19,039
mainly Net result for the year (+€19,028) and Tax, wage and social debts (+€10,811)
- Tangible fixed assets -€1,284
down €1,284 (-56.5%), from €2,273 to €989
of which Furniture and vehicles: -€1,146
- Stocks and contracts +€981
up €981 (+60.9%), from €1,612 to €2,593
- Tax, wage and social debts +€10,811
up €10,811 (+49.3%), from €21,922 to €32,733
- Other debts +€5,279
up €5,279 (+36.9%), from €14,324 to €19,603
- Trade debts +€3,329
up €3,329 (+97.1%), from €3,429 to €6,758
- Accrued charges and deferred income +€1,000
new in 2025: €1,000
- Taxes +€4,129
up €4,129 (+91.2%), from €4,526 to €8,656
- Gross operating margin +€2,838
up €2,838 (+9.8%), from €29,000 to €31,837
- Financial income +€1,622
up €1,622 (+1065.3%), from €152 to €1,774
- Depreciation -€864
down €864 (-40.2%), from €2,148 to €1,284
- Other operating charges +€684
up €684 (+96.5%), from €710 to €1,394
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 | €40,175 | €60,594 | +€20,419 | +50.8% |
| Fixed assets | 21/28 | €2,273 | €989 | -€1,284 | -56.5% |
| Tangible fixed assets | 22/27 | €2,273 | €989 | -€1,284 | -56.5% |
| Plant, machinery and equipment | 23 | €966 | €828 | -€138 | -14.3% |
| Furniture and vehicles | 24 | €1,307 | €161 | -€1,146 | -87.7% |
| Current assets | 29/58 | €37,902 | €59,605 | +€21,702 | +57.3% |
| Stocks and contracts in progress | 3 | €1,612 | €2,593 | +€981 | +60.9% |
| Stocks | 30/36 | €1,612 | €2,593 | +€981 | +60.9% |
| Amounts receivable within one year | 40/41 | €26,538 | €37,468 | +€10,930 | +41.2% |
| Trade receivables | 40 | - | €2,049 | +€2,049 | |
| Other amounts receivable | 41 | €26,538 | €35,419 | +€8,882 | +33.5% |
| Cash at bank and in hand | 54/58 | €9,341 | €19,039 | +€9,698 | +103.8% |
| Deferred charges and accrued income | 490/1 | €412 | €505 | +€93 | +22.6% |
| Total equity and liabilities | 10/49 | €40,175 | €60,594 | +€20,419 | +50.8% |
| Equity | 10/15 | €500 | €500 | = | 0.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,675 | €60,094 | +€20,419 | +51.5% |
| Amounts payable within one year | 42/48 | €39,675 | €59,094 | +€19,419 | +48.9% |
| Trade debts | 44 | €3,429 | €6,758 | +€3,329 | +97.1% |
| Suppliers | 440/4 | €3,429 | €6,758 | +€3,329 | +97.1% |
| Taxes, remuneration and social security | 45 | €21,922 | €32,733 | +€10,811 | +49.3% |
| Taxes | 450/3 | €21,922 | €32,733 | +€10,811 | +49.3% |
| Other amounts payable | 47/48 | €14,324 | €19,603 | +€5,279 | +36.9% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,148 | €1,284 | -€864 | -40.2% |
| Other operating charges | 640/8 | €710 | €1,394 | +€684 | +96.5% |
| Gross operating margin | 9900 | €29,000 | €31,837 | +€2,838 | +9.8% |
| Operating profit (loss) | 9901 | €26,142 | €29,160 | +€3,018 | +11.5% |
| Financial income | 75/76B | €152 | €1,774 | +€1,622 | +1065.3% |
| Recurring financial income | 75 | €152 | €1,774 | +€1,622 | +1065.3% |
| Financial charges | 65/66B | €3,381 | €3,250 | -€131 | -3.9% |
| Recurring financial charges | 65 | €3,381 | €3,250 | -€131 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €22,913 | €27,684 | +€4,770 | +20.8% |
| Income taxes | 67/77 | €4,526 | €8,656 | +€4,129 | +91.2% |
| Profit (loss) for the period | 9904 | €18,387 | €19,028 | +€641 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,387 | €19,028 | +€641 | +3.5% |
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 5 October 2026 via checked.be.