Martijn Melis: 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.
Martijn Melis
Largest movements
- Cash +€38,106
up €38,106 (+59.9%), from €63,628 to €101,735
mainly Net result for the year (+€42,263) and Receivables within one year (+€8,054)
- Receivables within one year -€8,054
down €8,054 (-28.8%), from €27,954 to €19,900
of which Trade receivables: -€7,811
- Tangible fixed assets +€6,345
up €6,345 (+94.3%), from €6,727 to €13,072
of which Plant, machinery and equipment: +€6,717
- Reserves +€42,263
up €42,263 (+68.5%), from €61,681 to €103,944
- Accrued charges and deferred income -€7,024
down €7,024 (-32.7%), from €21,509 to €14,485
- Trade debts +€3,634
up €3,634 (+77.9%), from €4,664 to €8,298
- Tax, wage and social debts -€2,588
down €2,588 (-30.1%), from €8,609 to €6,022
- Gross operating margin -€28,075
down €28,075 (-31.1%), from €90,194 to €62,119
- Taxes -€7,603
down €7,603 (-32.2%), from €23,609 to €16,006
- Depreciation -€972
down €972 (-21.2%), from €4,582 to €3,610
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 | €99,520 | €135,944 | +€36,425 | +36.6% |
| Formation expenses | 20 | €318 | €0 | -€318 | -100% |
| Fixed assets | 21/28 | €6,727 | €13,072 | +€6,345 | +94.3% |
| Tangible fixed assets | 22/27 | €6,727 | €13,072 | +€6,345 | +94.3% |
| Plant, machinery and equipment | 23 | €5,852 | €12,569 | +€6,717 | +115% |
| Furniture and vehicles | 24 | €875 | €504 | -€371 | -42.4% |
| Current assets | 29/58 | €92,474 | €122,872 | +€30,397 | +32.9% |
| Amounts receivable within one year | 40/41 | €27,954 | €19,900 | -€8,054 | -28.8% |
| Trade receivables | 40 | €27,217 | €19,406 | -€7,811 | -28.7% |
| Other amounts receivable | 41 | €736 | €494 | -€243 | -32.9% |
| Cash at bank and in hand | 54/58 | €63,628 | €101,735 | +€38,106 | +59.9% |
| Deferred charges and accrued income | 490/1 | €892 | €1,238 | +€345 | +38.7% |
| Total equity and liabilities | 10/49 | €99,520 | €135,944 | +€36,425 | +36.6% |
| Equity | 10/15 | €64,681 | €106,944 | +€42,263 | +65.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €61,681 | €103,944 | +€42,263 | +68.5% |
| Distributable reserves | 133 | €61,681 | €103,944 | +€42,263 | +68.5% |
| Amounts payable | 17/49 | €34,839 | €29,000 | -€5,839 | -16.8% |
| Amounts payable within one year | 42/48 | €13,331 | €14,516 | +€1,185 | +8.9% |
| Trade debts | 44 | €4,664 | €8,298 | +€3,634 | +77.9% |
| Suppliers | 440/4 | €4,664 | €8,298 | +€3,634 | +77.9% |
| Taxes, remuneration and social security | 45 | €8,609 | €6,022 | -€2,588 | -30.1% |
| Taxes | 450/3 | €8,609 | €6,022 | -€2,588 | -30.1% |
| Other amounts payable | 47/48 | €57 | €196 | +€139 | +244% |
| Accrued charges and deferred income | 492/3 | €21,509 | €14,485 | -€7,024 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,582 | €3,610 | -€972 | -21.2% |
| Other operating charges | 640/8 | €316 | €136 | -€180 | -57.1% |
| Gross operating margin | 9900 | €90,194 | €62,119 | -€28,075 | -31.1% |
| Operating profit (loss) | 9901 | €85,297 | €58,374 | -€26,923 | -31.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | +7,700% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +7,700% |
| Financial charges | 65/66B | €7 | €105 | +€98 | +1,398% |
| Recurring financial charges | 65 | €7 | €105 | +€98 | +1,398% |
| Profit (loss) for the period before taxes | 9903 | €85,290 | €58,269 | -€27,020 | -31.7% |
| Income taxes | 67/77 | €23,609 | €16,006 | -€7,603 | -32.2% |
| Profit (loss) for the period | 9904 | €61,681 | €42,263 | -€19,417 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,681 | €42,263 | -€19,417 | -31.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.