MELEBA: 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.
MELEBA
Largest movements
- Tangible fixed assets +€456,161
up €456,161 (+14.2%), from €3.2m to €3.7m
of which Land and buildings: +€489,051
- Receivables within one year +€53,147
up €53,147 (+71.6%), from €74,272 to €127,419
of which Trade receivables: +€34,647
- Other debts +€183,452
up €183,452 (+19.5%), from €941,390 to €1.1m
- Reserves +€170,240
up €170,240 (+10.3%), from €1.6m to €1.8m
of which Distributable reserves: +€172,255
- Debts after one year +€107,922
up €107,922 (+21.1%), from €511,798 to €619,720
- Financial income +€145,002
up €145,002, from €0 to €145,002
- Depreciation +€96,579
up €96,579 (+39.7%), from €243,054 to €339,633
- Taxes -€20,853
down €20,853 (-36.5%), from €57,088 to €36,235
- Gross operating margin -€13,541
down €13,541 (-2.7%), from €493,309 to €479,767
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 | €4,406,099 | €4,941,375 | +€535,276 | +12.1% |
| Fixed assets | 21/28 | €4,307,886 | €4,764,046 | +€456,161 | +10.6% |
| Tangible fixed assets | 22/27 | €3,203,158 | €3,659,319 | +€456,161 | +14.2% |
| Land and buildings | 22 | €3,161,701 | €3,650,752 | +€489,051 | +15.5% |
| Plant, machinery and equipment | 23 | €3,626 | €3,367 | -€259 | -7.1% |
| Furniture and vehicles | 24 | €37,832 | €5,200 | -€32,632 | -86.3% |
| Financial fixed assets | 28 | €1,104,727 | €1,104,727 | = | 0.0% |
| Current assets | 29/58 | €98,213 | €177,329 | +€79,116 | +80.6% |
| Amounts receivable within one year | 40/41 | €74,272 | €127,419 | +€53,147 | +71.6% |
| Trade receivables | 40 | €16,772 | €51,419 | +€34,647 | +206.6% |
| Other amounts receivable | 41 | €57,500 | €76,000 | +€18,500 | +32.2% |
| Cash at bank and in hand | 54/58 | €8,937 | €35,897 | +€26,960 | +301.7% |
| Deferred charges and accrued income | 490/1 | €15,005 | €14,013 | -€992 | -6.6% |
| Total equity and liabilities | 10/49 | €4,406,099 | €4,941,375 | +€535,276 | +12.1% |
| Equity | 10/15 | €2,806,212 | €2,976,451 | +€170,240 | +6.1% |
| Contributions | 10/11 | €1,160,080 | €1,160,080 | = | 0.0% |
| Reserves | 13 | €1,646,132 | €1,816,371 | +€170,240 | +10.3% |
| Tax-exempt reserves | 132 | €12,094 | €10,078 | -€2,016 | -16.7% |
| Distributable reserves | 133 | €1,634,038 | €1,806,293 | +€172,255 | +10.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €4,031 | €3,359 | -€672 | -16.7% |
| Deferred taxes | 168 | €4,031 | €3,359 | -€672 | -16.7% |
| Amounts payable | 17/49 | €1,595,856 | €1,961,565 | +€365,708 | +22.9% |
| Amounts payable after more than one year | 17 | €511,798 | €619,720 | +€107,922 | +21.1% |
| Financial debts | 170/4 | €511,798 | €619,720 | +€107,922 | +21.1% |
| Amounts payable within one year | 42/48 | €1,082,908 | €1,339,795 | +€256,887 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €112,956 | €141,910 | +€28,954 | +25.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €22,605 | €63,646 | +€41,041 | +181.6% |
| Suppliers | 440/4 | €22,605 | €63,646 | +€41,041 | +181.6% |
| Taxes, remuneration and social security | 45 | €5,957 | €9,397 | +€3,440 | +57.8% |
| Taxes | 450/3 | €5,957 | €9,397 | +€3,440 | +57.8% |
| Other amounts payable | 47/48 | €941,390 | €1,124,842 | +€183,452 | +19.5% |
| Accrued charges and deferred income | 492/3 | €1,150 | €2,050 | +€900 | +78.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,054 | €339,633 | +€96,579 | +39.7% |
| Other operating charges | 640/8 | €16,161 | €15,084 | -€1,077 | -6.7% |
| Gross operating margin | 9900 | €493,309 | €479,767 | -€13,541 | -2.7% |
| Operating profit (loss) | 9901 | €234,094 | €125,051 | -€109,043 | -46.6% |
| Financial income | 75/76B | €0 | €145,002 | +€145,002 | |
| Recurring financial income | 75 | €0 | €145,002 | +€145,002 | |
| Financial charges | 65/66B | €65,205 | €64,250 | -€955 | -1.5% |
| Recurring financial charges | 65 | €65,205 | €64,250 | -€955 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €168,889 | €205,802 | +€36,914 | +21.9% |
| Transfer from deferred taxes | 780 | €672 | €672 | = | 0.0% |
| Income taxes | 67/77 | €57,088 | €36,235 | -€20,853 | -36.5% |
| Profit (loss) for the period | 9904 | €112,473 | €170,240 | +€57,766 | +51.4% |
| Transfer from tax-exempt reserves | 789 | €2,016 | €2,016 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,489 | €172,255 | +€57,766 | +50.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.