Malvini: 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.
Malvini
Largest movements
- Tangible fixed assets +€556,134
up €556,134 (+38.2%), from €1.5m to €2.0m
- Receivables after one year -€281,892
down €281,892 (-36.9%), from €764,499 to €482,607
- Debts after one year +€279,500
up €279,500 (+11.9%), from €2.4m to €2.6m
- Profit (loss) carried forward -€33,094
down €33,094 (-18.3%), from -€180,562 to -€213,656
- Gross operating margin +€90,255
up €90,255, from -€28,872 to €61,383
- Depreciation -€46,860
down €46,860 (-33.2%), from €140,952 to €94,093
- Financial income -€10,754
down €10,754 (-22.4%), from €47,996 to €37,242
- Financial charges +€5,578
up €5,578 (+21.5%), from €25,915 to €31,493
- Other operating charges +€2,165
up €2,165 (+54.6%), from €3,968 to €6,134
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 | €2,239,725 | €2,509,506 | +€269,781 | +12.0% |
| Fixed assets | 21/28 | €1,456,838 | €2,012,972 | +€556,134 | +38.2% |
| Tangible fixed assets | 22/27 | €1,456,838 | €2,012,972 | +€556,134 | +38.2% |
| Land and buildings | 22 | €1,456,838 | €2,012,972 | +€556,134 | +38.2% |
| Current assets | 29/58 | €782,887 | €496,534 | -€286,353 | -36.6% |
| Amounts receivable after more than one year | 29 | €764,499 | €482,607 | -€281,892 | -36.9% |
| Trade receivables | 290 | €764,499 | €482,607 | -€281,892 | -36.9% |
| Amounts receivable within one year | 40/41 | €11,656 | €7,542 | -€4,115 | -35.3% |
| Trade receivables | 40 | €11,656 | €6,815 | -€4,841 | -41.5% |
| Other amounts receivable | 41 | - | €727 | +€727 | |
| Cash at bank and in hand | 54/58 | €6,732 | €6,385 | -€346 | -5.1% |
| Total equity and liabilities | 10/49 | €2,239,725 | €2,509,506 | +€269,781 | +12.0% |
| Equity | 10/15 | -€130,562 | -€163,656 | -€33,094 | -25.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,562 | -€213,656 | -€33,094 | -18.3% |
| Amounts payable | 17/49 | €2,370,287 | €2,673,162 | +€302,876 | +12.8% |
| Amounts payable after more than one year | 17 | €2,358,000 | €2,637,500 | +€279,500 | +11.9% |
| Financial debts | 170/4 | €2,358,000 | €2,637,500 | +€279,500 | +11.9% |
| Amounts payable within one year | 42/48 | €8,922 | €31,217 | +€22,295 | +249.9% |
| Trade debts | 44 | €7,656 | €31,217 | +€23,561 | +307.8% |
| Suppliers | 440/4 | €7,656 | €31,217 | +€23,561 | +307.8% |
| Taxes, remuneration and social security | 45 | €1,266 | - | -€1,266 | |
| Taxes | 450/3 | €1,266 | - | -€1,266 | |
| Accrued charges and deferred income | 492/3 | €3,365 | €4,446 | +€1,081 | +32.1% |
| Non-recurring operating income | 76A | - | €37,928 | +€37,928 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,952 | €94,093 | -€46,860 | -33.2% |
| Other operating charges | 640/8 | €3,968 | €6,134 | +€2,165 | +54.6% |
| Gross operating margin | 9900 | -€28,872 | €61,383 | +€90,255 | |
| Operating profit (loss) | 9901 | -€173,792 | -€38,843 | +€134,949 | +77.6% |
| Financial income | 75/76B | €47,996 | €37,242 | -€10,754 | -22.4% |
| Recurring financial income | 75 | €47,996 | €37,242 | -€10,754 | -22.4% |
| Financial charges | 65/66B | €25,915 | €31,493 | +€5,578 | +21.5% |
| Recurring financial charges | 65 | €25,915 | €31,493 | +€5,578 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | -€151,711 | -€33,094 | +€118,617 | +78.2% |
| Profit (loss) for the period | 9904 | -€151,711 | -€33,094 | +€118,617 | +78.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,711 | -€33,094 | +€118,617 | +78.2% |
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 9 October 2026 via checked.be.