MELC: what changed
Two fiscal 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.
MELC
Largest movements
- Current investments -€551,436
down €551,436 (-37.6%), from €1.5m to €914,274
- Cash +€313,576
up €313,576 (+194.8%), from €160,985 to €474,561
mainly Current investments (+€551,436) and Depreciation (+€44,504)
- Receivables within one year +€44,059
up €44,059 (+16.3%), from €270,451 to €314,510
of which Other amounts receivable: +€53,600
- Reserves -€120,000
down €120,000 (-6.5%), from €1.8m to €1.7m
of which Distributable reserves: -€120,000
- Profit (loss) carried forward -€93,461
down €93,461 (-139.6%), from -€66,933 to -€160,393
- Other debts +€31,532
up €31,532 (+35.6%), from €88,468 to €120,000
- Other operating charges -€27,028
down €27,028 (-71.6%), from €37,762 to €10,734
- Financial charges +€21,066
up €21,066 (+38.6%), from €54,509 to €75,575
- Gross operating margin +€17,715
up €17,715 (+50.0%), from -€35,409 to -€17,694
- Financial income -€14,388
down €14,388 (-22.0%), from €65,539 to €51,150
of which Financial income: -€14,388
- Depreciation +€14,276
up €14,276 (+47.2%), from €30,228 to €44,504
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 | €2,613,078 | €2,425,544 | -€187,534 | -7.2% |
| Fixed assets | 21/28 | €707,181 | €720,510 | +€13,329 | +1.9% |
| Tangible fixed assets | 22/27 | €707,181 | €720,510 | +€13,329 | +1.9% |
| Land and buildings | 22 | €591,945 | €575,650 | -€16,295 | -2.8% |
| Plant, machinery and equipment | 23 | €38,935 | €34,909 | -€4,026 | -10.3% |
| Furniture and vehicles | 24 | €43,136 | €78,692 | +€35,556 | +82.4% |
| Other tangible fixed assets | 26 | €33,165 | €31,259 | -€1,906 | -5.7% |
| Current assets | 29/58 | €1,905,897 | €1,705,034 | -€200,864 | -10.5% |
| Amounts receivable within one year | 40/41 | €270,451 | €314,510 | +€44,059 | +16.3% |
| Trade receivables | 40 | €11,197 | €1,656 | -€9,541 | -85.2% |
| Other amounts receivable | 41 | €259,254 | €312,854 | +€53,600 | +20.7% |
| Current investments | 50/53 | €1,465,710 | €914,274 | -€551,436 | -37.6% |
| Cash at bank and in hand | 54/58 | €160,985 | €474,561 | +€313,576 | +194.8% |
| Deferred charges and accrued income | 490/1 | €8,752 | €1,690 | -€7,062 | -80.7% |
| Total equity and liabilities | 10/49 | €2,613,078 | €2,425,544 | -€187,534 | -7.2% |
| Equity | 10/15 | €1,786,767 | €1,573,307 | -€213,461 | -11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,847,500 | €1,727,500 | -€120,000 | -6.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,847,500 | €1,727,500 | -€120,000 | -6.5% |
| Profit (loss) carried forward | 14 | -€66,933 | -€160,393 | -€93,461 | -139.6% |
| Provisions and deferred taxes | 16 | €728,951 | €724,657 | -€4,294 | -0.6% |
| Provisions for liabilities and charges | 160/5 | €728,951 | €724,657 | -€4,294 | -0.6% |
| Pensions and similar obligations | 160 | €728,951 | €724,657 | -€4,294 | -0.6% |
| Amounts payable | 17/49 | €97,360 | €127,581 | +€30,221 | +31.0% |
| Amounts payable within one year | 42/48 | €95,286 | €124,764 | +€29,478 | +30.9% |
| Trade debts | 44 | €4,405 | €4,018 | -€387 | -8.8% |
| Suppliers | 440/4 | €4,405 | €4,018 | -€387 | -8.8% |
| Taxes, remuneration and social security | 45 | €2,414 | €746 | -€1,667 | -69.1% |
| Taxes | 450/3 | €2,414 | €746 | -€1,667 | -69.1% |
| Other amounts payable | 47/48 | €88,468 | €120,000 | +€31,532 | +35.6% |
| Accrued charges and deferred income | 492/3 | €2,074 | €2,817 | +€743 | +35.8% |
| Non-recurring operating income | 76A | - | €467 | +€467 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,228 | €44,504 | +€14,276 | +47.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,294 | -€4,294 | = | 0.0% |
| Other operating charges | 640/8 | €37,762 | €10,734 | -€27,028 | -71.6% |
| Gross operating margin | 9900 | -€35,409 | -€17,694 | +€17,715 | +50.0% |
| Operating profit (loss) | 9901 | -€99,104 | -€68,637 | +€30,467 | +30.7% |
| Financial income | 75/76B | €65,539 | €51,150 | -€14,388 | -22.0% |
| Recurring financial income | 75 | €65,539 | €51,150 | -€14,388 | -22.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €54,509 | €75,575 | +€21,066 | +38.6% |
| Recurring financial charges | 65 | €54,509 | €75,575 | +€21,066 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | -€88,074 | -€93,062 | -€4,988 | -5.7% |
| Income taxes | 67/77 | €518 | €399 | -€119 | -22.9% |
| Profit (loss) for the period | 9904 | -€88,592 | -€93,461 | -€4,869 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,592 | -€93,461 | -€4,869 | -5.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.