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.
MALIMAT
Largest movements
- Tangible fixed assets -€66,852
down €66,852 (-7.7%), from €871,298 to €804,446
of which Furniture and vehicles: -€36,435
- Receivables within one year +€13,273
up €13,273 (+253.0%), from €5,247 to €18,520
of which Other amounts receivable: +€14,840
- Reserves -€41,979
down €41,979 (-60.3%), from €69,642 to €27,663
- Debts after one year -€14,936
down €14,936 (-21.9%), from €68,344 to €53,408
- Other operating charges +€21,780
up €21,780 (+233.5%), from €9,326 to €31,107
- Gross operating margin -€2,639
down €2,639 (-5.2%), from €50,690 to €48,051
- Taxes -€1,335
down €1,335 (-53.8%), from €2,480 to €1,145
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 | €957,079 | €908,474 | -€48,606 | -5.1% |
| Fixed assets | 21/28 | €871,298 | €804,446 | -€66,852 | -7.7% |
| Tangible fixed assets | 22/27 | €871,298 | €804,446 | -€66,852 | -7.7% |
| Land and buildings | 22 | €744,934 | €719,637 | -€25,297 | -3.4% |
| Plant, machinery and equipment | 23 | €89,929 | €84,809 | -€5,120 | -5.7% |
| Furniture and vehicles | 24 | €36,435 | - | -€36,435 | |
| Current assets | 29/58 | €85,782 | €104,028 | +€18,246 | +21.3% |
| Amounts receivable within one year | 40/41 | €5,247 | €18,520 | +€13,273 | +253.0% |
| Trade receivables | 40 | €5,247 | €3,680 | -€1,567 | -29.9% |
| Other amounts receivable | 41 | - | €14,840 | +€14,840 | |
| Cash at bank and in hand | 54/58 | €80,535 | €85,508 | +€4,973 | +6.2% |
| Total equity and liabilities | 10/49 | €957,079 | €908,474 | -€48,606 | -5.1% |
| Equity | 10/15 | €869,642 | €827,663 | -€41,979 | -4.8% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €69,642 | €27,663 | -€41,979 | -60.3% |
| Distributable reserves | 133 | €69,642 | €27,663 | -€41,979 | -60.3% |
| Amounts payable | 17/49 | €87,437 | €80,810 | -€6,627 | -7.6% |
| Amounts payable after more than one year | 17 | €68,344 | €53,408 | -€14,936 | -21.9% |
| Financial debts | 170/4 | €68,344 | €53,408 | -€14,936 | -21.9% |
| Amounts payable within one year | 42/48 | €19,093 | €27,402 | +€8,309 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | €14,794 | €14,936 | +€141 | +1.0% |
| Trade debts | 44 | €371 | €4,137 | +€3,766 | +1014.2% |
| Suppliers | 440/4 | €371 | €4,137 | +€3,766 | +1014.2% |
| Taxes, remuneration and social security | 45 | €2,480 | €3,774 | +€1,295 | +52.2% |
| Taxes | 450/3 | €2,480 | €3,774 | +€1,295 | +52.2% |
| Other amounts payable | 47/48 | €1,448 | €4,555 | +€3,107 | +214.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,110 | €33,294 | +€184 | +0.6% |
| Other operating charges | 640/8 | €9,326 | €31,107 | +€21,780 | +233.5% |
| Gross operating margin | 9900 | €50,690 | €48,051 | -€2,639 | -5.2% |
| Operating profit (loss) | 9901 | €8,254 | -€16,350 | -€24,603 | |
| Financial charges | 65/66B | €931 | €795 | -€136 | -14.6% |
| Recurring financial charges | 65 | €931 | €795 | -€136 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €7,323 | -€17,145 | -€24,468 | |
| Income taxes | 67/77 | €2,480 | €1,145 | -€1,335 | -53.8% |
| Profit (loss) for the period | 9904 | €4,844 | -€18,290 | -€23,133 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,844 | -€18,290 | -€23,133 |
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 28 September 2026 via checked.be.