MALVALI: 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.
What changed
MALVALI
NACE 01.110, Growing of cereals (except rice), leguminous crops and oil seeds
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,562
2024 · €19,885-€3,323
Equity
€799,360
2024 · €782,907+€16,453
Cash
€4,443
2024 · €4,689-€246
Balance sheet total
€812,786
2024 · €805,985+€6,801
Largest movements
Assets
- Current investments +€28,620
up €28,620 (+19.7%), from €145,473 to €174,093
- Tangible fixed assets -€19,508
down €19,508 (-3.0%), from €643,699 to €624,191
of which Land and buildings: -€23,206
Equity and liabilities
- Reserves +€16,563
up €16,563 (+4.2%), from €389,929 to €406,492
of which Distributable reserves: +€52,198
Income statement
- Taxes +€3,670
up €3,670 (+39.1%), from €9,391 to €13,061
- Depreciation +€784
up €784 (+2.9%), from €27,365 to €28,149
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.
Result 2024
€19,885
Gross operating margin
+€463
Depreciation
-€784
Other operating charges
+€443
Financial income
+€322
Financial charges
-€97
Taxes
-€3,670
Result 2025
€16,562
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.
From operations
+€37,124
Investment
-€37,261
Financing
-€109
Cash 2024
€4,689
From operations (derived)
+€37,124
Net result for the year
+€16,562
Depreciation
+€28,149
Receivables within one year
+€2,097
Smaller working-capital items
-€21
Trade debts
-€2,384
Tax, wage and social debts
+€127
Other debts
-€7,406
Investment (derived)
-€37,261
Investment in fixed assets (net)
-€8,641
Current investments
-€28,620
Financing
-€109
Contributions, distributions and other
-€109
Cash 2025
€4,443
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €805,985 | €812,786 | +€6,801 | +0.8% |
| Fixed assets | 21/28 | €643,699 | €624,191 | -€19,508 | -3.0% |
| Tangible fixed assets | 22/27 | €643,699 | €624,191 | -€19,508 | -3.0% |
| Land and buildings | 22 | €596,836 | €573,630 | -€23,206 | -3.9% |
| Plant, machinery and equipment | 23 | €45,046 | €45,497 | +€451 | +1.0% |
| Furniture and vehicles | 24 | €1,817 | €5,064 | +€3,247 | +178.7% |
| Current assets | 29/58 | €162,286 | €188,595 | +€26,309 | +16.2% |
| Amounts receivable within one year | 40/41 | €10,755 | €8,658 | -€2,097 | -19.5% |
| Trade receivables | 40 | €6,220 | €4,375 | -€1,845 | -29.7% |
| Other amounts receivable | 41 | €4,535 | €4,283 | -€252 | -5.6% |
| Current investments | 50/53 | €145,473 | €174,093 | +€28,620 | +19.7% |
| Cash at bank and in hand | 54/58 | €4,689 | €4,443 | -€246 | -5.2% |
| Deferred charges and accrued income | 490/1 | €1,369 | €1,401 | +€32 | +2.3% |
| Total equity and liabilities | 10/49 | €805,985 | €812,786 | +€6,801 | +0.8% |
| Equity | 10/15 | €782,907 | €799,360 | +€16,453 | +2.1% |
| Contributions | 10/11 | €399,830 | €399,830 | = | 0.0% |
| Capital | 10 | €399,830 | €399,830 | = | 0.0% |
| Issued capital | 100 | €399,830 | €399,830 | = | 0.0% |
| Reserves | 13 | €389,929 | €406,492 | +€16,563 | +4.2% |
| Non-distributable reserves | 130/1 | €12,833 | €15,088 | +€2,255 | +17.6% |
| Legal reserve | 130 | €12,833 | €15,088 | +€2,255 | +17.6% |
| Tax-exempt reserves | 132 | €75,780 | €37,890 | -€37,890 | -50.0% |
| Distributable reserves | 133 | €301,316 | €353,514 | +€52,198 | +17.3% |
| Profit (loss) carried forward | 14 | -€9,364 | -€9,364 | = | 0.0% |
| Investment grants | 15 | €2,512 | €2,402 | -€110 | -4.4% |
| Amounts payable | 17/49 | €23,078 | €13,426 | -€9,652 | -41.8% |
| Amounts payable within one year | 42/48 | €23,078 | €13,426 | -€9,652 | -41.8% |
| Trade debts | 44 | €2,384 | - | -€2,384 | |
| Suppliers | 440/4 | €2,384 | - | -€2,384 | |
| Advances received on contracts in progress | 46 | €85 | €96 | +€11 | +12.9% |
| Taxes, remuneration and social security | 45 | €9,747 | €9,874 | +€127 | +1.3% |
| Taxes | 450/3 | €9,747 | €9,874 | +€127 | +1.3% |
| Other amounts payable | 47/48 | €10,862 | €3,456 | -€7,406 | -68.2% |
| Turnover | 70 | €68,501 | €68,377 | -€124 | -0.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €8,699 | €8,112 | -€587 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,365 | €28,149 | +€784 | +2.9% |
| Other operating charges | 640/8 | €4,952 | €4,509 | -€443 | -8.9% |
| Gross operating margin | 9900 | €59,802 | €60,265 | +€463 | +0.8% |
| Operating profit (loss) | 9901 | €27,485 | €27,607 | +€122 | +0.4% |
| Financial income | 75/76B | €2,758 | €3,080 | +€322 | +11.7% |
| Recurring financial income | 75 | €2,758 | €3,080 | +€322 | +11.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €967 | €1,064 | +€97 | +10.0% |
| Recurring financial charges | 65 | €967 | €1,064 | +€97 | +10.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €29,276 | €29,623 | +€347 | +1.2% |
| Income taxes | 67/77 | €9,391 | €13,061 | +€3,670 | +39.1% |
| Profit (loss) for the period | 9904 | €19,885 | €16,562 | -€3,323 | -16.7% |
| Transfer from tax-exempt reserves | 789 | - | €37,890 | +€37,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,885 | €54,452 | +€34,567 | +173.8% |
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 6 October 2026 via checked.be.