MEL - IMMO: 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.
MEL - IMMO
Largest movements
- Cash -€88,165
down €88,165 (-18.2%), from €484,935 to €396,769
mainly Net result for the year (-€130,921) and Investment in fixed assets (net) (-€41,115)
- Tangible fixed assets -€43,467
down €43,467 (-3.8%), from €1.1m to €1.1m
of which Land and buildings: -€41,479
- Profit (loss) carried forward -€130,921
new in 2025: -€130,921
- Gross operating margin -€125,701
down €125,701, from €92,495 to -€33,206
- Depreciation +€11,185
up €11,185 (+15.2%), from €73,398 to €84,582
- Other operating charges +€8,595
up €8,595 (+152.6%), from €5,634 to €14,230
- Taxes -€8,325
down €8,325 (-99.2%), from €8,391 to €67
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 | €1,635,105 | €1,504,272 | -€130,833 | -8.0% |
| Fixed assets | 21/28 | €1,146,346 | €1,102,879 | -€43,467 | -3.8% |
| Tangible fixed assets | 22/27 | €1,145,913 | €1,102,445 | -€43,467 | -3.8% |
| Land and buildings | 22 | €1,104,157 | €1,062,678 | -€41,479 | -3.8% |
| Plant, machinery and equipment | 23 | €24,794 | €23,949 | -€845 | -3.4% |
| Furniture and vehicles | 24 | €1,961 | €818 | -€1,143 | -58.3% |
| Other tangible fixed assets | 26 | €15,000 | €15,000 | = | 0.0% |
| Financial fixed assets | 28 | €434 | €434 | = | 0.0% |
| Current assets | 29/58 | €488,759 | €401,393 | -€87,366 | -17.9% |
| Amounts receivable within one year | 40/41 | €3,824 | €3,529 | -€295 | -7.7% |
| Trade receivables | 40 | €1,394 | €0 | -€1,394 | -100.0% |
| Other amounts receivable | 41 | €2,431 | €3,529 | +€1,098 | +45.2% |
| Cash at bank and in hand | 54/58 | €484,935 | €396,769 | -€88,165 | -18.2% |
| Deferred charges and accrued income | 490/1 | €0 | €1,095 | +€1,095 | |
| Total equity and liabilities | 10/49 | €1,635,105 | €1,504,272 | -€130,833 | -8.0% |
| Equity | 10/15 | €797,385 | €666,464 | -€130,921 | -16.4% |
| Contributions | 10/11 | €270,987 | €270,987 | = | 0.0% |
| Reserves | 13 | €526,398 | €526,398 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,146 | €1,146 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,146 | €1,146 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,144 | €17,144 | = | 0.0% |
| Distributable reserves | 133 | €508,109 | €508,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€130,921 | -€130,921 | |
| Amounts payable | 17/49 | €837,720 | €837,809 | +€88 | 0.0% |
| Amounts payable within one year | 42/48 | €836,753 | €837,809 | +€1,056 | +0.1% |
| Trade debts | 44 | €1,416 | €975 | -€441 | -31.1% |
| Suppliers | 440/4 | €1,416 | €975 | -€441 | -31.1% |
| Taxes, remuneration and social security | 45 | €8,157 | €10,164 | +€2,007 | +24.6% |
| Taxes | 450/3 | €8,157 | €10,164 | +€2,007 | +24.6% |
| Other amounts payable | 47/48 | €827,180 | €826,670 | -€510 | -0.1% |
| Accrued charges and deferred income | 492/3 | €968 | €0 | -€968 | -100.0% |
| Non-recurring operating income | 76A | - | €83 | +€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,398 | €84,582 | +€11,185 | +15.2% |
| Other operating charges | 640/8 | €5,634 | €14,230 | +€8,595 | +152.6% |
| Gross operating margin | 9900 | €92,495 | -€33,206 | -€125,701 | |
| Operating profit (loss) | 9901 | €13,463 | -€132,018 | -€145,481 | |
| Financial income | 75/76B | €1,260 | €1,710 | +€449 | +35.6% |
| Recurring financial income | 75 | €1,260 | €1,710 | +€449 | +35.6% |
| Financial charges | 65/66B | €100 | €547 | +€447 | +447.9% |
| Recurring financial charges | 65 | €100 | €547 | +€447 | +447.9% |
| Profit (loss) for the period before taxes | 9903 | €14,624 | -€130,855 | -€145,479 | |
| Income taxes | 67/77 | €8,391 | €67 | -€8,325 | -99.2% |
| Profit (loss) for the period | 9904 | €6,232 | -€130,921 | -€137,154 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,232 | -€130,921 | -€137,154 |
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 11 October 2026 via checked.be.