Malt III: 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.
Malt III
Largest movements
- Tangible fixed assets +€92,959
up €92,959 (+21.8%), from €426,884 to €519,843
of which Land and buildings: +€89,859
- Cash +€11,516
up €11,516 (+222%), from €5,179 to €16,695
mainly Depreciation (+€37,866) and Net result for the year (+€28,051)
- Receivables within one year -€7,610
down €7,610 (-9.9%), from €76,958 to €69,347
of which Trade receivables: -€3,822
- Profit (loss) carried forward +€28,051
up €28,051 (+39.6%), from €70,835 to €98,886
- Trade debts +€28,033
up €28,033 (+146%), from €19,244 to €47,277
- Debts after one year +€16,228
up €16,228 (+8.1%), from €200,269 to €216,497
- Advances received +€10,918
new in 2025: €10,918
- Current portion of long-term debt +€7,324
up €7,324 (+43.7%), from €16,773 to €24,098
- Gross operating margin +€6,037
up €6,037 (+2.9%), from €204,743 to €210,780
- Depreciation +€5,635
up €5,635 (+17.5%), from €32,231 to €37,866
- Financial charges +€2,913
up €2,913 (+57.1%), from €5,100 to €8,013
- Staff costs -€2,847
down €2,847 (-2.3%), from €126,265 to €123,418
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.
Derived cash bridge
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 | €516,116 | €608,494 | +€92,379 | +17.9% |
| Fixed assets | 21/28 | €428,551 | €519,843 | +€91,292 | +21.3% |
| Intangible fixed assets | 21 | €1,667 | - | -€1,667 | |
| Tangible fixed assets | 22/27 | €426,884 | €519,843 | +€92,959 | +21.8% |
| Land and buildings | 22 | €396,377 | €486,236 | +€89,859 | +22.7% |
| Plant, machinery and equipment | 23 | €25,780 | €31,243 | +€5,463 | +21.2% |
| Furniture and vehicles | 24 | €4,727 | €2,364 | -€2,364 | -50.0% |
| Current assets | 29/58 | €87,565 | €88,652 | +€1,087 | +1.2% |
| Stocks and contracts in progress | 3 | €3,250 | €2,517 | -€733 | -22.6% |
| Stocks | 30/36 | €3,250 | €2,517 | -€733 | -22.6% |
| Amounts receivable within one year | 40/41 | €76,958 | €69,347 | -€7,610 | -9.9% |
| Trade receivables | 40 | €32,204 | €28,381 | -€3,822 | -11.9% |
| Other amounts receivable | 41 | €44,754 | €40,966 | -€3,788 | -8.5% |
| Cash at bank and in hand | 54/58 | €5,179 | €16,695 | +€11,516 | +222% |
| Deferred charges and accrued income | 490/1 | €2,178 | €92 | -€2,085 | -95.8% |
| Total equity and liabilities | 10/49 | €516,116 | €608,494 | +€92,379 | +17.9% |
| Equity | 10/15 | €91,295 | €119,346 | +€28,051 | +30.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,835 | €98,886 | +€28,051 | +39.6% |
| Amounts payable | 17/49 | €424,820 | €489,149 | +€64,328 | +15.1% |
| Amounts payable after more than one year | 17 | €200,269 | €216,497 | +€16,228 | +8.1% |
| Financial debts | 170/4 | €200,269 | €216,497 | +€16,228 | +8.1% |
| Amounts payable within one year | 42/48 | €207,594 | €261,452 | +€53,858 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €16,773 | €24,098 | +€7,324 | +43.7% |
| Trade debts | 44 | €19,244 | €47,277 | +€28,033 | +146% |
| Suppliers | 440/4 | €19,244 | €47,277 | +€28,033 | +146% |
| Advances received on contracts in progress | 46 | - | €10,918 | +€10,918 | |
| Taxes, remuneration and social security | 45 | €43,215 | €47,234 | +€4,019 | +9.3% |
| Taxes | 450/3 | €32,583 | €35,451 | +€2,869 | +8.8% |
| Remuneration and social security | 454/9 | €10,632 | €11,782 | +€1,150 | +10.8% |
| Other amounts payable | 47/48 | €128,361 | €131,926 | +€3,564 | +2.8% |
| Accrued charges and deferred income | 492/3 | €16,958 | €11,200 | -€5,758 | -34.0% |
| Remuneration, social security and pensions | 62 | €126,265 | €123,418 | -€2,847 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,231 | €37,866 | +€5,635 | +17.5% |
| Other operating charges | 640/8 | €2,644 | €2,553 | -€90 | -3.4% |
| Gross operating margin | 9900 | €204,743 | €210,780 | +€6,037 | +2.9% |
| Operating profit (loss) | 9901 | €43,603 | €46,942 | +€3,340 | +7.7% |
| Financial income | 75/76B | €34 | €206 | +€172 | +505% |
| Recurring financial income | 75 | €34 | €206 | +€172 | +505% |
| Financial charges | 65/66B | €5,100 | €8,013 | +€2,913 | +57.1% |
| Recurring financial charges | 65 | €5,100 | €8,013 | +€2,913 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €38,537 | €39,135 | +€598 | +1.6% |
| Income taxes | 67/77 | €11,078 | €11,085 | +€7 | +0.1% |
| Profit (loss) for the period | 9904 | €27,459 | €28,051 | +€591 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,459 | €28,051 | +€591 | +2.2% |
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 25 October 2026 via checked.be.