Malamat: what changed
Two financial 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.
Malamat
Largest movements
- Receivables within one year +€130,824
up €130,824 (+887.8%), from €14,736 to €145,559
of which Other amounts receivable: +€145,559
- Financial fixed assets +€15,000
new in 2025: €15,000
- Current investments +€7,614
up €7,614 (+39.0%), from €19,507 to €27,120
- Cash +€4,074
up €4,074 (+401.5%), from €1,015 to €5,089
mainly Debts after one year (+€103,152) and Other debts (+€17,205)
- Tangible fixed assets -€2,311
down €2,311 (-60.7%), from €3,805 to €1,494
- Debts after one year +€103,152
new in 2025: €103,152
- Other debts +€17,205
up €17,205 (+271.6%), from €6,334 to €23,539
- Profit (loss) carried forward +€16,942
up €16,942 (+2977.2%), from €569 to €17,512
- Current portion of long-term debt +€12,889
up €12,889 (+224.7%), from €5,736 to €18,625
- Trade debts +€11,296
up €11,296 (+52.4%), from €21,542 to €32,839
of which Bills of exchange payable: +€28,787
- Depreciation -€10,900
down €10,900 (-77.7%), from €14,028 to €3,128
- Financial charges +€7,353
up €7,353, from -€1,993 to €5,359
- Gross operating margin -€5,809
down €5,809 (-15.9%), from €36,621 to €30,812
- Taxes -€849
down €849 (-16.3%), from €5,200 to €4,351
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 | €59,065 | €214,265 | +€155,201 | +262.8% |
| Fixed assets | 21/28 | €3,805 | €16,494 | +€12,689 | +333.5% |
| Tangible fixed assets | 22/27 | €3,805 | €1,494 | -€2,311 | -60.7% |
| Furniture and vehicles | 24 | €3,805 | €1,494 | -€2,311 | -60.7% |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €55,260 | €197,772 | +€142,512 | +257.9% |
| Amounts receivable after more than one year | 29 | €20,003 | €20,003 | = | 0.0% |
| Other amounts receivable | 291 | €20,003 | €20,003 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,736 | €145,559 | +€130,824 | +887.8% |
| Trade receivables | 40 | €14,736 | - | -€14,736 | |
| Other amounts receivable | 41 | - | €145,559 | +€145,559 | |
| Current investments | 50/53 | €19,507 | €27,120 | +€7,614 | +39.0% |
| Cash at bank and in hand | 54/58 | €1,015 | €5,089 | +€4,074 | +401.5% |
| Total equity and liabilities | 10/49 | €59,065 | €214,265 | +€155,201 | +262.8% |
| Equity | 10/15 | €19,169 | €36,112 | +€16,942 | +88.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €569 | €17,512 | +€16,942 | +2977.2% |
| Amounts payable | 17/49 | €39,896 | €178,154 | +€138,258 | +346.5% |
| Amounts payable after more than one year | 17 | - | €103,152 | +€103,152 | |
| Financial debts | 170/4 | - | €103,152 | +€103,152 | |
| Amounts payable within one year | 42/48 | €39,896 | €75,002 | +€35,106 | +88.0% |
| Current portion of amounts payable after more than one year | 42 | €5,736 | €18,625 | +€12,889 | +224.7% |
| Trade debts | 44 | €21,542 | €32,839 | +€11,296 | +52.4% |
| Suppliers | 440/4 | €21,542 | €4,052 | -€17,490 | -81.2% |
| Bills of exchange payable | 441 | - | €28,787 | +€28,787 | |
| Taxes, remuneration and social security | 45 | €6,283 | - | -€6,283 | |
| Taxes | 450/3 | €6,283 | - | -€6,283 | |
| Other amounts payable | 47/48 | €6,334 | €23,539 | +€17,205 | +271.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,028 | €3,128 | -€10,900 | -77.7% |
| Other operating charges | 640/8 | €872 | €1,166 | +€294 | +33.7% |
| Gross operating margin | 9900 | €36,621 | €30,812 | -€5,809 | -15.9% |
| Operating profit (loss) | 9901 | €21,721 | €26,518 | +€4,797 | +22.1% |
| Financial income | 75/76B | €258 | €134 | -€124 | -48.0% |
| Recurring financial income | 75 | €258 | €134 | -€124 | -48.0% |
| Financial charges | 65/66B | -€1,993 | €5,359 | +€7,353 | |
| Recurring financial charges | 65 | -€1,993 | €5,359 | +€7,353 | |
| Profit (loss) for the period before taxes | 9903 | €23,973 | €21,293 | -€2,679 | -11.2% |
| Income taxes | 67/77 | €5,200 | €4,351 | -€849 | -16.3% |
| Profit (loss) for the period | 9904 | €18,773 | €16,942 | -€1,831 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,773 | €16,942 | -€1,831 | -9.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.