MEL02: 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.
MEL02
Largest movements
- Receivables within one year -€18,103
down €18,103 (-99.5%), from €18,192 to €89
of which Trade receivables: -€15,367
- Cash +€14,640
up €14,640 (+11.1%), from €131,431 to €146,071
mainly Other debts (+€76,832) and Net result for the year (+€48,785)
- Tangible fixed assets +€11,150
up €11,150 (+25.1%), from €44,481 to €55,630
of which Furniture and vehicles: +€10,183
- Deferred charges and accrued income +€3,495
up €3,495 (+243.3%), from €1,436 to €4,931
- Other debts +€76,832
up €76,832 (+782.2%), from €9,823 to €86,656
- Reserves -€51,215
down €51,215 (-28.1%), from €182,076 to €130,860
- Debts after one year -€11,911
down €11,911 (-100.0%), from €11,911 to €0
- Current portion of long-term debt -€5,565
down €5,565 (-31.8%), from €17,475 to €11,911
- Gross operating margin -€40,885
down €40,885 (-31.4%), from €130,321 to €89,436
- Depreciation +€12,962
up €12,962 (+90.8%), from €14,275 to €27,237
- Taxes -€11,069
down €11,069 (-44.9%), from €24,630 to €13,561
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 | €235,540 | €246,722 | +€11,182 | +4.7% |
| Fixed assets | 21/28 | €44,481 | €55,630 | +€11,150 | +25.1% |
| Tangible fixed assets | 22/27 | €44,481 | €55,630 | +€11,150 | +25.1% |
| Plant, machinery and equipment | 23 | €1,917 | €1,122 | -€796 | -41.5% |
| Furniture and vehicles | 24 | €30,662 | €40,845 | +€10,183 | +33.2% |
| Other tangible fixed assets | 26 | €11,902 | €13,663 | +€1,762 | +14.8% |
| Current assets | 29/58 | €191,059 | €191,091 | +€32 | 0.0% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,192 | €89 | -€18,103 | -99.5% |
| Trade receivables | 40 | €15,367 | €0 | -€15,367 | -100.0% |
| Other amounts receivable | 41 | €2,825 | €89 | -€2,736 | -96.8% |
| Cash at bank and in hand | 54/58 | €131,431 | €146,071 | +€14,640 | +11.1% |
| Deferred charges and accrued income | 490/1 | €1,436 | €4,931 | +€3,495 | +243.3% |
| Total equity and liabilities | 10/49 | €235,540 | €246,722 | +€11,182 | +4.7% |
| Equity | 10/15 | €189,576 | €138,360 | -€51,215 | -27.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €182,076 | €130,860 | -€51,215 | -28.1% |
| Distributable reserves | 133 | €182,076 | €130,860 | -€51,215 | -28.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,964 | €108,361 | +€62,397 | +135.8% |
| Amounts payable after more than one year | 17 | €11,911 | €0 | -€11,911 | -100.0% |
| Financial debts | 170/4 | €11,911 | €0 | -€11,911 | -100.0% |
| Amounts payable within one year | 42/48 | €34,054 | €108,361 | +€74,308 | +218.2% |
| Current portion of amounts payable after more than one year | 42 | €17,475 | €11,911 | -€5,565 | -31.8% |
| Trade debts | 44 | €773 | €2,937 | +€2,164 | +280.0% |
| Suppliers | 440/4 | €773 | €2,937 | +€2,164 | +280.0% |
| Taxes, remuneration and social security | 45 | €5,982 | €6,858 | +€876 | +14.6% |
| Taxes | 450/3 | €5,982 | €6,858 | +€876 | +14.6% |
| Other amounts payable | 47/48 | €9,823 | €86,656 | +€76,832 | +782.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,275 | €27,237 | +€12,962 | +90.8% |
| Other operating charges | 640/8 | €980 | €1,222 | +€242 | +24.7% |
| Gross operating margin | 9900 | €130,321 | €89,436 | -€40,885 | -31.4% |
| Operating profit (loss) | 9901 | €115,066 | €60,977 | -€54,089 | -47.0% |
| Financial income | 75/76B | €2,321 | €2,027 | -€294 | -12.7% |
| Recurring financial income | 75 | €2,321 | €2,027 | -€294 | -12.7% |
| Financial charges | 65/66B | €1,961 | €658 | -€1,303 | -66.4% |
| Recurring financial charges | 65 | €1,961 | €658 | -€1,303 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | €115,426 | €62,346 | -€53,080 | -46.0% |
| Income taxes | 67/77 | €24,630 | €13,561 | -€11,069 | -44.9% |
| Profit (loss) for the period | 9904 | €90,795 | €48,785 | -€42,011 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,795 | €48,785 | -€42,011 | -46.3% |
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 11 October 2026 via checked.be.