MAELVAMI: 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.
MAELVAMI
Largest movements
- Cash -€90,504
down €90,504 (-44.9%), from €201,695 to €111,191
mainly Current investments (-€75,000) and Other debts (-€22,991)
- Current investments +€75,000
up €75,000 (+37.5%), from €200,000 to €275,000
- Other debts -€22,991
down €22,991 (-27.2%), from €84,620 to €61,629
- Depreciation -€9,103
down €9,103 (-100.0%), from €9,103 to €0
- Financial income +€5,743
up €5,743 (+159.5%), from €3,600 to €9,342
- Gross operating margin +€4,238
up €4,238 (+38.8%), from -€10,933 to -€6,694
- Other operating charges +€788
up €788 (+17.9%), from €4,397 to €5,185
- Taxes -€164
down €164 (-64.2%), from €256 to €92
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 | €1,720,949 | €1,696,389 | -€24,560 | -1.4% |
| Fixed assets | 21/28 | €486,364 | €475,444 | -€10,920 | -2.2% |
| Intangible fixed assets | 21 | €90,722 | €90,722 | = | 0.0% |
| Tangible fixed assets | 22/27 | €395,642 | €384,722 | -€10,920 | -2.8% |
| Land and buildings | 22 | €384,722 | €384,722 | = | 0.0% |
| Furniture and vehicles | 24 | €10,920 | €0 | -€10,920 | -100.0% |
| Current assets | 29/58 | €1,234,585 | €1,220,945 | -€13,640 | -1.1% |
| Stocks and contracts in progress | 3 | €825,666 | €825,666 | = | 0.0% |
| Stocks | 30/36 | €825,666 | €825,666 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,224 | €9,088 | +€1,864 | +25.8% |
| Trade receivables | 40 | €6,385 | €6,385 | = | 0.0% |
| Other amounts receivable | 41 | €839 | €2,703 | +€1,864 | +222.3% |
| Current investments | 50/53 | €200,000 | €275,000 | +€75,000 | +37.5% |
| Cash at bank and in hand | 54/58 | €201,695 | €111,191 | -€90,504 | -44.9% |
| Total equity and liabilities | 10/49 | €1,720,949 | €1,696,389 | -€24,560 | -1.4% |
| Equity | 10/15 | €1,024,744 | €1,021,351 | -€3,394 | -0.3% |
| Contributions | 10/11 | €156,100 | €156,100 | = | 0.0% |
| Capital | 10 | €156,100 | €156,100 | = | 0.0% |
| Issued capital | 100 | €156,100 | €156,100 | = | 0.0% |
| Reserves | 13 | €868,644 | €865,251 | -€3,394 | -0.4% |
| Non-distributable reserves | 130/1 | €15,610 | €15,610 | = | 0.0% |
| Legal reserve | 130 | €15,610 | €15,610 | = | 0.0% |
| Distributable reserves | 133 | €853,034 | €849,641 | -€3,394 | -0.4% |
| Amounts payable | 17/49 | €696,205 | €675,038 | -€21,167 | -3.0% |
| Amounts payable within one year | 42/48 | €84,728 | €63,561 | -€21,167 | -25.0% |
| Trade debts | 44 | €108 | €112 | +€4 | +3.4% |
| Suppliers | 440/4 | €108 | €112 | +€4 | +3.4% |
| Taxes, remuneration and social security | 45 | €0 | €1,821 | +€1,821 | |
| Taxes | 450/3 | €0 | €1,821 | +€1,821 | |
| Other amounts payable | 47/48 | €84,620 | €61,629 | -€22,991 | -27.2% |
| Accrued charges and deferred income | 492/3 | €611,476 | €611,476 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,103 | €0 | -€9,103 | -100.0% |
| Other operating charges | 640/8 | €4,397 | €5,185 | +€788 | +17.9% |
| Non-recurring operating charges | 66A | - | €589 | +€589 | |
| Gross operating margin | 9900 | -€10,933 | -€6,694 | +€4,238 | +38.8% |
| Operating profit (loss) | 9901 | -€24,433 | -€12,468 | +€11,964 | +49.0% |
| Financial income | 75/76B | €3,600 | €9,342 | +€5,743 | +159.5% |
| Recurring financial income | 75 | €3,600 | €9,342 | +€5,743 | +159.5% |
| Financial charges | 65/66B | €242 | €176 | -€66 | -27.2% |
| Recurring financial charges | 65 | €242 | €176 | -€66 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,074 | -€3,302 | +€17,772 | +84.3% |
| Income taxes | 67/77 | €256 | €92 | -€164 | -64.2% |
| Profit (loss) for the period | 9904 | -€21,331 | -€3,394 | +€17,937 | +84.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,331 | -€3,394 | +€17,937 | +84.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.