Malplaquet is too late for either side to assume a more decisive victory; after all by this point France had managed to push the war back to a stalemate. And although Malplaquet was technically a win for the Allies, it was a Pyrrhic one the French held the overall advantage.
What you could see is a result not too different from OTL, but with slightly more concessions for the French side and less for the British. The asiento may prove to be what empowers the British for the next rounds, assuming they get it as OTL.