Malis: 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.
Malis
Largest movements
- Receivables within one year +€123,430
up €123,430 (+125.3%), from €98,485 to €221,914
of which Other amounts receivable: +€123,430
- Cash -€58,893
down €58,893 (-40.4%), from €145,901 to €87,008
mainly Receivables within one year (-€123,430) and Investment in fixed assets (net) (-€22,093)
- Tangible fixed assets -€11,633
down €11,633 (-5.7%), from €204,354 to €192,721
of which Plant, machinery and equipment: -€8,683
- Stocks and contracts -€8,257
down €8,257 (-37.1%), from €22,245 to €13,988
- Reserves +€40,986
up €40,986 (+16.0%), from €256,024 to €297,009
- Trade debts +€21,174
up €21,174 (+18.0%), from €117,959 to €139,133
- Tax, wage and social debts -€12,419
down €12,419 (-14.7%), from €84,636 to €72,217
of which Remuneration and social security: -€18,163
- Gross operating margin -€42,433
down €42,433 (-13.0%), from €326,584 to €284,151
- Staff costs +€37,376
up €37,376 (+26.1%), from €143,232 to €180,608
- Taxes -€19,133
down €19,133 (-52.4%), from €36,478 to €17,346
- Other operating charges -€7,917
down €7,917 (-77.8%), from €10,174 to €2,257
- Financial charges +€3,472
up €3,472 (+32.0%), from €10,839 to €14,311
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 | €473,632 | €517,455 | +€43,823 | +9.3% |
| Fixed assets | 21/28 | €204,354 | €192,721 | -€11,633 | -5.7% |
| Tangible fixed assets | 22/27 | €204,354 | €192,721 | -€11,633 | -5.7% |
| Plant, machinery and equipment | 23 | €191,039 | €182,356 | -€8,683 | -4.5% |
| Furniture and vehicles | 24 | €13,315 | €10,365 | -€2,950 | -22.2% |
| Current assets | 29/58 | €269,279 | €324,734 | +€55,455 | +20.6% |
| Stocks and contracts in progress | 3 | €22,245 | €13,988 | -€8,257 | -37.1% |
| Stocks | 30/36 | €22,245 | €13,988 | -€8,257 | -37.1% |
| Amounts receivable within one year | 40/41 | €98,485 | €221,914 | +€123,430 | +125.3% |
| Trade receivables | 40 | €21,000 | €21,000 | = | 0.0% |
| Other amounts receivable | 41 | €77,485 | €200,914 | +€123,430 | +159.3% |
| Cash at bank and in hand | 54/58 | €145,901 | €87,008 | -€58,893 | -40.4% |
| Deferred charges and accrued income | 490/1 | €2,647 | €1,823 | -€824 | -31.1% |
| Total equity and liabilities | 10/49 | €473,632 | €517,455 | +€43,823 | +9.3% |
| Equity | 10/15 | €261,024 | €302,009 | +€40,986 | +15.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €256,024 | €297,009 | +€40,986 | +16.0% |
| Distributable reserves | 133 | €256,024 | €297,009 | +€40,986 | +16.0% |
| Amounts payable | 17/49 | €212,609 | €215,446 | +€2,837 | +1.3% |
| Amounts payable after more than one year | 17 | €4,096 | - | -€4,096 | |
| Financial debts | 170/4 | €4,096 | - | -€4,096 | |
| Amounts payable within one year | 42/48 | €208,513 | €215,446 | +€6,933 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €5,918 | €4,096 | -€1,822 | -30.8% |
| Trade debts | 44 | €117,959 | €139,133 | +€21,174 | +18.0% |
| Suppliers | 440/4 | €117,959 | €139,133 | +€21,174 | +18.0% |
| Taxes, remuneration and social security | 45 | €84,636 | €72,217 | -€12,419 | -14.7% |
| Taxes | 450/3 | €49,349 | €55,093 | +€5,744 | +11.6% |
| Remuneration and social security | 454/9 | €35,287 | €17,124 | -€18,163 | -51.5% |
| Non-recurring operating income | 76A | €12,538 | - | -€12,538 | |
| Remuneration, social security and pensions | 62 | €143,232 | €180,608 | +€37,376 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,028 | €33,726 | -€302 | -0.9% |
| Other operating charges | 640/8 | €10,174 | €2,257 | -€7,917 | -77.8% |
| Gross operating margin | 9900 | €326,584 | €284,151 | -€42,433 | -13.0% |
| Operating profit (loss) | 9901 | €139,149 | €67,560 | -€71,589 | -51.4% |
| Financial income | 75/76B | €2,652 | €5,082 | +€2,430 | +91.7% |
| Recurring financial income | 75 | €2,652 | €5,082 | +€2,430 | +91.7% |
| Financial charges | 65/66B | €10,839 | €14,311 | +€3,472 | +32.0% |
| Recurring financial charges | 65 | €10,839 | €14,311 | +€3,472 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €130,962 | €58,331 | -€72,631 | -55.5% |
| Income taxes | 67/77 | €36,478 | €17,346 | -€19,133 | -52.4% |
| Profit (loss) for the period | 9904 | €94,483 | €40,986 | -€53,498 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €94,483 | €40,986 | -€53,498 | -56.6% |
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.