MALITHO: 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.
MALITHO
Largest movements
- Stocks and contracts -€680,000
down €680,000 (-13.0%), from €5.3m to €4.6m
- Receivables within one year +€588,585
up €588,585 (+640.9%), from €91,834 to €680,419
of which Other amounts receivable: +€606,601
- Cash +€175,292
up €175,292 (+467.8%), from €37,474 to €212,766
mainly Net result for the year (+€883,795) and Stocks and contracts (+€680,000)
- Receivables after one year -€156,273
down €156,273 (-35.6%), from €438,385 to €282,112
- Other debts -€580,000
no longer reported in 2025 (was €580,000)
- Profit (loss) carried forward +€483,795
up €483,795 (+69.1%), from €700,199 to €1.2m
- Short-term financial debts +€350,000
new in 2025: €350,000
- Debts after one year -€250,000
down €250,000 (-5.7%), from €4.4m to €4.1m
- Trade debts -€124,132
down €124,132 (-94.8%), from €130,879 to €6,747
- Financial income +€848,748
up €848,748 (+4780.7%), from €17,753 to €866,502
of which Non-recurring financial income: +€505,887
- Gross operating margin +€90,419
up €90,419 (+181.2%), from €49,898 to €140,316
- Financial charges -€13,419
down €13,419 (-10.3%), from €130,109 to €116,690
- Other operating charges -€6,343
down €6,343 (-50.0%), from €12,676 to €6,333
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 | €6,169,552 | €6,102,460 | -€67,092 | -1.1% |
| Fixed assets | 21/28 | €333,638 | €355,388 | +€21,750 | +6.5% |
| Financial fixed assets | 28 | €333,638 | €355,388 | +€21,750 | +6.5% |
| Current assets | 29/58 | €5,835,915 | €5,747,072 | -€88,843 | -1.5% |
| Amounts receivable after more than one year | 29 | €438,385 | €282,112 | -€156,273 | -35.6% |
| Other amounts receivable | 291 | €438,385 | €282,112 | -€156,273 | -35.6% |
| Stocks and contracts in progress | 3 | €5,250,000 | €4,570,000 | -€680,000 | -13.0% |
| Stocks | 30/36 | €5,250,000 | €4,570,000 | -€680,000 | -13.0% |
| Amounts receivable within one year | 40/41 | €91,834 | €680,419 | +€588,585 | +640.9% |
| Trade receivables | 40 | €18,016 | - | -€18,016 | |
| Other amounts receivable | 41 | €73,818 | €680,419 | +€606,601 | +821.7% |
| Cash at bank and in hand | 54/58 | €37,474 | €212,766 | +€175,292 | +467.8% |
| Deferred charges and accrued income | 490/1 | €18,222 | €1,775 | -€16,447 | -90.3% |
| Total equity and liabilities | 10/49 | €6,169,552 | €6,102,460 | -€67,092 | -1.1% |
| Equity | 10/15 | €1,030,242 | €1,514,038 | +€483,795 | +47.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,043 | €30,043 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,043 | €30,043 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €43 | €43 | = | 0.0% |
| Profit (loss) carried forward | 14 | €700,199 | €1,183,995 | +€483,795 | +69.1% |
| Amounts payable | 17/49 | €5,139,310 | €4,588,422 | -€550,887 | -10.7% |
| Amounts payable after more than one year | 17 | €4,396,666 | €4,146,666 | -€250,000 | -5.7% |
| Financial debts | 170/4 | €4,396,666 | €4,146,666 | -€250,000 | -5.7% |
| Amounts payable within one year | 42/48 | €711,496 | €441,756 | -€269,740 | -37.9% |
| Financial debts | 43 | - | €350,000 | +€350,000 | |
| Credit institutions | 430/8 | - | €350,000 | +€350,000 | |
| Trade debts | 44 | €130,879 | €6,747 | -€124,132 | -94.8% |
| Suppliers | 440/4 | €130,879 | €6,747 | -€124,132 | -94.8% |
| Advances received on contracts in progress | 46 | - | €85,000 | +€85,000 | |
| Taxes, remuneration and social security | 45 | €617 | €9 | -€608 | -98.5% |
| Taxes | 450/3 | €617 | €9 | -€608 | -98.5% |
| Other amounts payable | 47/48 | €580,000 | - | -€580,000 | |
| Accrued charges and deferred income | 492/3 | €31,148 | - | -€31,148 | |
| Other operating charges | 640/8 | €12,676 | €6,333 | -€6,343 | -50.0% |
| Gross operating margin | 9900 | €49,898 | €140,316 | +€90,419 | +181.2% |
| Operating profit (loss) | 9901 | €37,222 | €133,983 | +€96,761 | +260.0% |
| Financial income | 75/76B | €17,753 | €866,502 | +€848,748 | +4780.7% |
| Recurring financial income | 75 | €17,753 | €360,615 | +€342,861 | +1931.2% |
| Non-recurring financial income | 76B | - | €505,887 | +€505,887 | |
| Financial charges | 65/66B | €130,109 | €116,690 | -€13,419 | -10.3% |
| Recurring financial charges | 65 | €130,109 | €116,690 | -€13,419 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€75,133 | €883,795 | +€958,929 | |
| Profit (loss) for the period | 9904 | -€75,133 | €883,795 | +€958,929 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,133 | €883,795 | +€958,929 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.