MEL RENOV: 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 RENOV
Largest movements
- Receivables within one year +€42,024
up €42,024 (+413%), from €10,175 to €52,199
of which Trade receivables: +€42,293
- Cash +€21,873
up €21,873 (+20.2%), from €108,030 to €129,903
mainly Net result for the year (+€111,146) and Depreciation (+€9,934)
- Tangible fixed assets +€16,364
up €16,364 (+477%), from €3,434 to €19,798
- Profit (loss) carried forward +€96,146
up €96,146 (+120%), from €80,377 to €176,523
- Trade debts -€20,432
down €20,432 (-86.6%), from €23,590 to €3,158
- Other debts +€4,628
up €4,628 (+44.6%), from €10,372 to €15,000
- Gross operating margin +€71,933
up €71,933 (+124%), from €57,963 to €129,895
- Depreciation +€7,301
up €7,301 (+277%), from €2,633 to €9,934
- Taxes +€5,705
up €5,705 (+1,208%), from €472 to €6,177
- Other operating charges +€1,775
up €1,775 (+458%), from €387 to €2,162
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 | €121,639 | €201,900 | +€80,260 | +66.0% |
| Fixed assets | 21/28 | €3,434 | €19,798 | +€16,364 | +477% |
| Tangible fixed assets | 22/27 | €3,434 | €19,798 | +€16,364 | +477% |
| Furniture and vehicles | 24 | €3,434 | €19,798 | +€16,364 | +477% |
| Current assets | 29/58 | €118,205 | €182,102 | +€63,896 | +54.1% |
| Amounts receivable within one year | 40/41 | €10,175 | €52,199 | +€42,024 | +413% |
| Trade receivables | 40 | €8,982 | €51,275 | +€42,293 | +471% |
| Other amounts receivable | 41 | €1,193 | €924 | -€269 | -22.5% |
| Cash at bank and in hand | 54/58 | €108,030 | €129,903 | +€21,873 | +20.2% |
| Total equity and liabilities | 10/49 | €121,639 | €201,900 | +€80,260 | +66.0% |
| Equity | 10/15 | €85,377 | €181,523 | +€96,146 | +113% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,377 | €176,523 | +€96,146 | +120% |
| Amounts payable | 17/49 | €36,262 | €20,377 | -€15,885 | -43.8% |
| Amounts payable within one year | 42/48 | €36,262 | €20,377 | -€15,885 | -43.8% |
| Trade debts | 44 | €23,590 | €3,158 | -€20,432 | -86.6% |
| Suppliers | 440/4 | €23,590 | €3,158 | -€20,432 | -86.6% |
| Taxes, remuneration and social security | 45 | €2,300 | €2,219 | -€81 | -3.5% |
| Remuneration and social security | 454/9 | €2,300 | €2,219 | -€81 | -3.5% |
| Other amounts payable | 47/48 | €10,372 | €15,000 | +€4,628 | +44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,633 | €9,934 | +€7,301 | +277% |
| Other operating charges | 640/8 | €387 | €2,162 | +€1,775 | +458% |
| Non-recurring operating charges | 66A | €58 | €242 | +€184 | +317% |
| Gross operating margin | 9900 | €57,963 | €129,895 | +€71,933 | +124% |
| Operating profit (loss) | 9901 | €54,884 | €117,557 | +€62,673 | +114% |
| Financial charges | 65/66B | €219 | €234 | +€15 | +6.7% |
| Recurring financial charges | 65 | €219 | €234 | +€15 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €54,665 | €117,323 | +€62,658 | +115% |
| Income taxes | 67/77 | €472 | €6,177 | +€5,705 | +1,208% |
| Profit (loss) for the period | 9904 | €54,193 | €111,146 | +€56,953 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €54,193 | €111,146 | +€56,953 | +105% |
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 27 October 2026 via checked.be.