FINMALT: 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.
FINMALT
Largest movements
- Current investments -€2.6m
down €2.6m (-86.7%), from €3.0m to €400,000
- Cash -€906,715
down €906,715 (-76.1%), from €1.2m to €284,100
mainly Current portion of long-term debt (-€4.7m) and Debts after one year (-€366,871)
- Tangible fixed assets -€483,990
down €483,990 (-4.2%), from €11.5m to €11.0m
of which Plant, machinery and equipment: -€606,000
- Current portion of long-term debt -€4.7m
down €4.7m (-92.7%), from €5.1m to €366,871
- Short-term financial debts +€650,000
new in 2025: €650,000
- Debts after one year -€366,871
down €366,871 (-4.2%), from €8.6m to €8.3m
- Trade debts +€313,428
new in 2025: €313,428
- Gross operating margin -€276,742
down €276,742 (-18.4%), from €1.5m to €1.2m
- Provisions +€120,000
new in 2025: €120,000
- Financial charges -€102,542
down €102,542 (-20.9%), from €489,740 to €387,198
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 | €16,018,553 | €12,035,254 | -€4.0m | -24.9% |
| Fixed assets | 21/28 | €11,504,066 | €11,020,076 | -€483,990 | -4.2% |
| Tangible fixed assets | 22/27 | €11,504,066 | €11,020,076 | -€483,990 | -4.2% |
| Plant, machinery and equipment | 23 | €11,504,066 | €10,898,066 | -€606,000 | -5.3% |
| Assets under construction and advance payments | 27 | - | €122,010 | +€122,010 | |
| Current assets | 29/58 | €4,514,488 | €1,015,178 | -€3.5m | -77.5% |
| Amounts receivable within one year | 40/41 | €313,097 | €331,022 | +€17,924 | +5.7% |
| Trade receivables | 40 | €313,097 | €322,990 | +€9,892 | +3.2% |
| Other amounts receivable | 41 | - | €8,032 | +€8,032 | |
| Current investments | 50/53 | €3,000,000 | €400,000 | -€2.6m | -86.7% |
| Cash at bank and in hand | 54/58 | €1,190,815 | €284,100 | -€906,715 | -76.1% |
| Deferred charges and accrued income | 490/1 | €10,575 | €56 | -€10,519 | -99.5% |
| Total equity and liabilities | 10/49 | €16,018,553 | €12,035,254 | -€4.0m | -24.9% |
| Equity | 10/15 | €2,110,106 | €2,241,258 | +€131,153 | +6.2% |
| Contributions | 10/11 | €1,700,000 | €1,700,000 | = | 0.0% |
| Reserves | 13 | - | €131,153 | +€131,153 | |
| Distributable reserves | 133 | - | €131,153 | +€131,153 | |
| Profit (loss) carried forward | 14 | €410,106 | €410,106 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €120,000 | +€120,000 | |
| Provisions for liabilities and charges | 160/5 | - | €120,000 | +€120,000 | |
| Major repairs and maintenance | 162 | - | €120,000 | +€120,000 | |
| Amounts payable | 17/49 | €13,908,448 | €9,673,996 | -€4.2m | -30.4% |
| Amounts payable after more than one year | 17 | €8,647,740 | €8,280,869 | -€366,871 | -4.2% |
| Financial debts | 170/4 | €8,647,740 | €8,280,869 | -€366,871 | -4.2% |
| Amounts payable within one year | 42/48 | €5,137,373 | €1,390,417 | -€3.7m | -72.9% |
| Current portion of amounts payable after more than one year | 42 | €5,055,229 | €366,871 | -€4.7m | -92.7% |
| Financial debts | 43 | - | €650,000 | +€650,000 | |
| Other loans | 439 | - | €650,000 | +€650,000 | |
| Trade debts | 44 | - | €313,428 | +€313,428 | |
| Suppliers | 440/4 | - | €313,428 | +€313,428 | |
| Taxes, remuneration and social security | 45 | €82,144 | €60,119 | -€22,025 | -26.8% |
| Taxes | 450/3 | €81,563 | €58,803 | -€22,759 | -27.9% |
| Remuneration and social security | 454/9 | €582 | €1,315 | +€734 | +126.2% |
| Accrued charges and deferred income | 492/3 | €123,335 | €2,709 | -€120,626 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €615,934 | €606,000 | -€9,934 | -1.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €120,000 | +€120,000 | |
| Other operating charges | 640/8 | €890 | €1,257 | +€367 | +41.2% |
| Gross operating margin | 9900 | €1,506,095 | €1,229,353 | -€276,742 | -18.4% |
| Operating profit (loss) | 9901 | €889,270 | €502,096 | -€387,174 | -43.5% |
| Financial income | 75/76B | €10,575 | €16,254 | +€5,679 | +53.7% |
| Recurring financial income | 75 | €10,575 | €16,254 | +€5,679 | +53.7% |
| Financial charges | 65/66B | €489,740 | €387,198 | -€102,542 | -20.9% |
| Recurring financial charges | 65 | €489,740 | €387,198 | -€102,542 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €410,106 | €131,153 | -€278,953 | -68.0% |
| Profit (loss) for the period | 9904 | €410,106 | €131,153 | -€278,953 | -68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €410,106 | €131,153 | -€278,953 | -68.0% |
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 2 October 2026 via checked.be.