MELGO: 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.
MELGO
Largest movements
- Cash +€40,109
up €40,109 (+47.4%), from €84,601 to €124,709
mainly Net result for the year (+€44,266) and Depreciation (+€12,877)
- Tangible fixed assets -€11,079
down €11,079 (-19.8%), from €55,999 to €44,920
of which Furniture and vehicles: -€10,566
- Receivables within one year +€10,353
up €10,353 (+481.6%), from €2,150 to €12,503
of which Trade receivables: +€10,349
- Deferred charges and accrued income -€3,406
down €3,406 (-76.7%), from €4,442 to €1,037
- Reserves +€43,407
up €43,407 (+35.9%), from €120,902 to €164,309
- Debts after one year -€5,093
down €5,093 (-79.9%), from €6,375 to €1,282
- Tax, wage and social debts -€3,915
down €3,915 (-46.6%), from €8,410 to €4,495
of which Taxes: -€2,024
- Gross operating margin +€20,454
up €20,454 (+33.5%), from €61,118 to €81,572
- Depreciation +€5,526
up €5,526 (+75.2%), from €7,351 to €12,877
- Taxes +€4,828
up €4,828 (+28.2%), from €17,126 to €21,954
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 | €147,197 | €183,174 | +€35,978 | +24.4% |
| Fixed assets | 21/28 | €56,004 | €44,925 | -€11,079 | -19.8% |
| Tangible fixed assets | 22/27 | €55,999 | €44,920 | -€11,079 | -19.8% |
| Plant, machinery and equipment | 23 | €513 | €0 | -€513 | -100.0% |
| Furniture and vehicles | 24 | €55,487 | €44,920 | -€10,566 | -19.0% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €91,192 | €138,249 | +€47,056 | +51.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,150 | €12,503 | +€10,353 | +481.6% |
| Trade receivables | 40 | €2,150 | €12,498 | +€10,349 | +481.4% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €84,601 | €124,709 | +€40,109 | +47.4% |
| Deferred charges and accrued income | 490/1 | €4,442 | €1,037 | -€3,406 | -76.7% |
| Total equity and liabilities | 10/49 | €147,197 | €183,174 | +€35,978 | +24.4% |
| Equity | 10/15 | €124,502 | €167,909 | +€43,407 | +34.9% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €120,902 | €164,309 | +€43,407 | +35.9% |
| Distributable reserves | 133 | €120,902 | €164,309 | +€43,407 | +35.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,695 | €15,265 | -€7,430 | -32.7% |
| Amounts payable after more than one year | 17 | €6,375 | €1,282 | -€5,093 | -79.9% |
| Financial debts | 170/4 | €6,375 | €1,282 | -€5,093 | -79.9% |
| Amounts payable within one year | 42/48 | €16,306 | €13,968 | -€2,338 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €5,039 | €5,093 | +€54 | +1.1% |
| Trade debts | 44 | €2,036 | €1,858 | -€178 | -8.8% |
| Suppliers | 440/4 | €2,036 | €1,858 | -€178 | -8.8% |
| Taxes, remuneration and social security | 45 | €8,410 | €4,495 | -€3,915 | -46.6% |
| Taxes | 450/3 | €6,519 | €4,495 | -€2,024 | -31.1% |
| Remuneration and social security | 454/9 | €1,891 | €0 | -€1,891 | -100.0% |
| Other amounts payable | 47/48 | €820 | €2,522 | +€1,702 | +207.5% |
| Accrued charges and deferred income | 492/3 | €14 | €15 | +€1 | +8.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,351 | €12,877 | +€5,526 | +75.2% |
| Other operating charges | 640/8 | €1,904 | €1,952 | +€49 | +2.6% |
| Gross operating margin | 9900 | €61,118 | €81,572 | +€20,454 | +33.5% |
| Operating profit (loss) | 9901 | €51,863 | €66,742 | +€14,879 | +28.7% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €495 | €524 | +€29 | +5.9% |
| Recurring financial charges | 65 | €495 | €524 | +€29 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €51,368 | €66,220 | +€14,852 | +28.9% |
| Income taxes | 67/77 | €17,126 | €21,954 | +€4,828 | +28.2% |
| Profit (loss) for the period | 9904 | €34,242 | €44,266 | +€10,024 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,242 | €44,266 | +€10,024 | +29.3% |
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 6 October 2026 via checked.be.