MALAGA: 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.
MALAGA
Largest movements
- Tangible fixed assets +€519,007
up €519,007 (+44.2%), from €1.2m to €1.7m
of which Land and buildings: +€470,545
- Receivables within one year -€230,079
down €230,079 (-39.6%), from €581,546 to €351,467
of which Trade receivables: -€224,928
- Current investments -€102,517
down €102,517 (-37.0%), from €276,889 to €174,373
- Cash +€27,934
up €27,934 (+21.4%), from €130,689 to €158,622
mainly Other debts (+€1.2m) and Net result for the year (+€627,475)
- Other debts +€1.2m
up €1.2m (+126.1%), from €923,896 to €2.1m
- Profit (loss) carried forward -€885,228
down €885,228 (-96.9%), from €913,103 to €27,875
- Short-term financial debts -€27,857
down €27,857 (-20.7%), from €134,385 to €106,528
of which Credit institutions: -€28,550
- Gross operating margin -€207,634
down €207,634 (-18.8%), from €1.1m to €896,222
- Taxes -€66,704
down €66,704 (-24.9%), from €267,983 to €201,279
- Depreciation +€20,504
up €20,504 (+62.6%), from €32,758 to €53,262
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 | €2,170,628 | €2,385,082 | +€214,454 | +9.9% |
| Fixed assets | 21/28 | €1,173,281 | €1,692,288 | +€519,007 | +44.2% |
| Tangible fixed assets | 22/27 | €1,173,281 | €1,692,288 | +€519,007 | +44.2% |
| Land and buildings | 22 | €908,700 | €1,379,245 | +€470,545 | +51.8% |
| Plant, machinery and equipment | 23 | €978 | €34,803 | +€33,825 | +3458.3% |
| Furniture and vehicles | 24 | €51,325 | €37,571 | -€13,754 | -26.8% |
| Other tangible fixed assets | 26 | €212,278 | €240,670 | +€28,391 | +13.4% |
| Current assets | 29/58 | €997,347 | €692,793 | -€304,553 | -30.5% |
| Amounts receivable within one year | 40/41 | €581,546 | €351,467 | -€230,079 | -39.6% |
| Trade receivables | 40 | €566,834 | €341,905 | -€224,928 | -39.7% |
| Other amounts receivable | 41 | €14,712 | €9,562 | -€5,151 | -35.0% |
| Current investments | 50/53 | €276,889 | €174,373 | -€102,517 | -37.0% |
| Cash at bank and in hand | 54/58 | €130,689 | €158,622 | +€27,934 | +21.4% |
| Deferred charges and accrued income | 490/1 | €8,223 | €8,331 | +€109 | +1.3% |
| Total equity and liabilities | 10/49 | €2,170,628 | €2,385,082 | +€214,454 | +9.9% |
| Equity | 10/15 | €995,603 | €110,375 | -€885,228 | -88.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €913,103 | €27,875 | -€885,228 | -96.9% |
| Amounts payable | 17/49 | €1,175,024 | €2,274,706 | +€1.1m | +93.6% |
| Amounts payable after more than one year | 17 | €22,500 | - | -€22,500 | |
| Financial debts | 170/4 | €22,500 | - | -€22,500 | |
| Amounts payable within one year | 42/48 | €1,137,403 | €2,258,157 | +€1.1m | +98.5% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €22,500 | -€7,500 | -25.0% |
| Financial debts | 43 | €134,385 | €106,528 | -€27,857 | -20.7% |
| Credit institutions | 430/8 | €134,385 | €105,835 | -€28,550 | -21.2% |
| Other loans | 439 | - | €693 | +€693 | |
| Trade debts | 44 | €18,864 | €3,311 | -€15,553 | -82.4% |
| Suppliers | 440/4 | €18,864 | €3,311 | -€15,553 | -82.4% |
| Taxes, remuneration and social security | 45 | €30,258 | €36,453 | +€6,195 | +20.5% |
| Taxes | 450/3 | €30,258 | €36,453 | +€6,195 | +20.5% |
| Other amounts payable | 47/48 | €923,896 | €2,089,365 | +€1.2m | +126.1% |
| Accrued charges and deferred income | 492/3 | €15,121 | €16,550 | +€1,428 | +9.4% |
| Non-recurring operating income | 76A | - | €6,639 | +€6,639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,758 | €53,262 | +€20,504 | +62.6% |
| Other operating charges | 640/8 | €3,738 | €5,664 | +€1,926 | +51.5% |
| Gross operating margin | 9900 | €1,103,856 | €896,222 | -€207,634 | -18.8% |
| Operating profit (loss) | 9901 | €1,067,361 | €837,297 | -€230,064 | -21.6% |
| Financial income | 75/76B | €14,952 | €11,837 | -€3,115 | -20.8% |
| Recurring financial income | 75 | €14,952 | €11,837 | -€3,115 | -20.8% |
| Financial charges | 65/66B | €9,568 | €20,379 | +€10,811 | +113.0% |
| Recurring financial charges | 65 | €9,568 | €14,433 | +€4,865 | +50.8% |
| Non-recurring financial charges | 66B | - | €5,947 | +€5,947 | |
| Profit (loss) for the period before taxes | 9903 | €1,072,745 | €828,754 | -€243,991 | -22.7% |
| Income taxes | 67/77 | €267,983 | €201,279 | -€66,704 | -24.9% |
| Profit (loss) for the period | 9904 | €804,762 | €627,475 | -€177,287 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €804,762 | €627,475 | -€177,287 | -22.0% |
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 8 October 2026 via checked.be.