DE MELKWEG: 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.
DE MELKWEG
Largest movements
- Tangible fixed assets +€2.3m
up €2.3m (+69.0%), from €3.3m to €5.5m
of which Land and buildings: +€2.2m
- Receivables within one year +€223,058
up €223,058 (+70.6%), from €315,940 to €538,998
of which Other amounts receivable: +€135,826
- Debts after one year +€1.7m
up €1.7m (+114%), from €1.5m to €3.2m
- Other debts +€886,307
up €886,307 (+11,836%), from €7,488 to €893,795
- Reserves -€660,366
down €660,366 (-30.3%), from €2.2m to €1.5m
of which Distributable reserves: -€660,366
- Tax, wage and social debts +€161,043
up €161,043 (+181%), from €89,075 to €250,119
of which Taxes: +€158,361
- Trade debts +€134,155
up €134,155 (+268%), from €50,061 to €184,216
- Gross operating margin +€483,273
up €483,273 (+39.2%), from €1.2m to €1.7m
- Other operating charges +€157,262
up €157,262 (+1,389%), from €11,324 to €168,586
- Staff costs +€127,930
up €127,930 (+30.7%), from €416,658 to €544,589
- Depreciation +€69,646
up €69,646 (+22.2%), from €313,769 to €383,415
- Financial charges +€25,849
up €25,849 (+46.6%), from €55,519 to €81,368
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 | €4,204,179 | €6,687,584 | +€2.5m | +59.1% |
| Fixed assets | 21/28 | €3,267,553 | €5,524,481 | +€2.3m | +69.1% |
| Tangible fixed assets | 22/27 | €3,267,553 | €5,521,981 | +€2.3m | +69.0% |
| Land and buildings | 22 | €2,631,789 | €4,854,527 | +€2.2m | +84.5% |
| Plant, machinery and equipment | 23 | €197,498 | €316,891 | +€119,393 | +60.5% |
| Furniture and vehicles | 24 | €268,470 | €241,478 | -€26,992 | -10.1% |
| Leasing and similar rights | 25 | €169,797 | €109,085 | -€60,712 | -35.8% |
| Financial fixed assets | 28 | €0 | €2,500 | +€2,500 | |
| Current assets | 29/58 | €936,626 | €1,163,103 | +€226,477 | +24.2% |
| Amounts receivable after more than one year | 29 | €314,000 | €314,000 | = | 0.0% |
| Other amounts receivable | 291 | €314,000 | €314,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €25,798 | €26,913 | +€1,116 | +4.3% |
| Stocks | 30/36 | €25,798 | €26,913 | +€1,116 | +4.3% |
| Amounts receivable within one year | 40/41 | €315,940 | €538,998 | +€223,058 | +70.6% |
| Trade receivables | 40 | €315,940 | €403,172 | +€87,233 | +27.6% |
| Other amounts receivable | 41 | €0 | €135,826 | +€135,826 | |
| Cash at bank and in hand | 54/58 | €247,149 | €241,112 | -€6,037 | -2.4% |
| Deferred charges and accrued income | 490/1 | €33,739 | €42,080 | +€8,341 | +24.7% |
| Total equity and liabilities | 10/49 | €4,204,179 | €6,687,584 | +€2.5m | +59.1% |
| Equity | 10/15 | €2,248,545 | €1,588,180 | -€660,366 | -29.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €2,178,545 | €1,518,180 | -€660,366 | -30.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,159,795 | €1,499,430 | -€660,366 | -30.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,955,634 | €5,099,404 | +€3.1m | +161% |
| Amounts payable after more than one year | 17 | €1,516,817 | €3,249,916 | +€1.7m | +114% |
| Financial debts | 170/4 | €1,516,817 | €3,249,916 | +€1.7m | +114% |
| Amounts payable within one year | 42/48 | €438,816 | €1,849,489 | +€1.4m | +321% |
| Current portion of amounts payable after more than one year | 42 | €292,192 | €411,360 | +€119,168 | +40.8% |
| Financial debts | 43 | - | €110,000 | +€110,000 | |
| Credit institutions | 430/8 | - | €110,000 | +€110,000 | |
| Trade debts | 44 | €50,061 | €184,216 | +€134,155 | +268% |
| Suppliers | 440/4 | €50,061 | €184,216 | +€134,155 | +268% |
| Taxes, remuneration and social security | 45 | €89,075 | €250,119 | +€161,043 | +181% |
| Taxes | 450/3 | €29,014 | €187,376 | +€158,361 | +546% |
| Remuneration and social security | 454/9 | €60,061 | €62,743 | +€2,682 | +4.5% |
| Other amounts payable | 47/48 | €7,488 | €893,795 | +€886,307 | +11,836% |
| Remuneration, social security and pensions | 62 | €416,658 | €544,589 | +€127,930 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,769 | €383,415 | +€69,646 | +22.2% |
| Other operating charges | 640/8 | €11,324 | €168,586 | +€157,262 | +1,389% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,232,041 | €1,715,315 | +€483,273 | +39.2% |
| Operating profit (loss) | 9901 | €490,290 | €618,726 | +€128,436 | +26.2% |
| Financial income | 75/76B | €12,761 | €9,776 | -€2,985 | -23.4% |
| Recurring financial income | 75 | €12,761 | €9,776 | -€2,985 | -23.4% |
| Financial charges | 65/66B | €55,519 | €81,368 | +€25,849 | +46.6% |
| Recurring financial charges | 65 | €55,519 | €81,368 | +€25,849 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €447,532 | €547,133 | +€99,601 | +22.3% |
| Income taxes | 67/77 | €107,173 | €115,215 | +€8,043 | +7.5% |
| Profit (loss) for the period | 9904 | €340,359 | €431,918 | +€91,559 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €340,359 | €431,918 | +€91,559 | +26.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.