MELHAGE MANAGEMENT: 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.
MELHAGE MANAGEMENT
Largest movements
- Receivables within one year +€38,722
up €38,722 (+78.7%), from €49,172 to €87,894
of which Other amounts receivable: +€45,390
- Cash -€4,713
down €4,713 (-17.3%), from €27,177 to €22,463
mainly Receivables within one year (-€38,722) and Investment in fixed assets (net) (-€1,255)
- Profit (loss) carried forward +€33,389
up €33,389 (+66.0%), from €50,565 to €83,954
- Tax, wage and social debts +€2,615
up €2,615 (+11.6%), from €22,541 to €25,156
- Gross operating margin -€23,158
down €23,158 (-33.2%), from €69,749 to €46,591
- Taxes -€3,228
down €3,228 (-20.7%), from €15,567 to €12,339
- Other operating charges -€3,214
down €3,214 (-91.7%), from €3,506 to €292
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 | €76,349 | €111,264 | +€34,915 | +45.7% |
| Fixed assets | 21/28 | - | €907 | +€907 | |
| Tangible fixed assets | 22/27 | - | €907 | +€907 | |
| Furniture and vehicles | 24 | - | €907 | +€907 | |
| Current assets | 29/58 | €76,349 | €110,357 | +€34,008 | +44.5% |
| Amounts receivable within one year | 40/41 | €49,172 | €87,894 | +€38,722 | +78.7% |
| Trade receivables | 40 | €12,342 | €5,673 | -€6,669 | -54.0% |
| Other amounts receivable | 41 | €36,830 | €82,220 | +€45,390 | +123% |
| Cash at bank and in hand | 54/58 | €27,177 | €22,463 | -€4,713 | -17.3% |
| Total equity and liabilities | 10/49 | €76,349 | €111,264 | +€34,915 | +45.7% |
| Equity | 10/15 | €52,065 | €85,454 | +€33,389 | +64.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,565 | €83,954 | +€33,389 | +66.0% |
| Amounts payable | 17/49 | €24,283 | €25,809 | +€1,526 | +6.3% |
| Amounts payable within one year | 42/48 | €24,283 | €25,809 | +€1,526 | +6.3% |
| Trade debts | 44 | €1,742 | €653 | -€1,089 | -62.5% |
| Suppliers | 440/4 | €1,742 | €653 | -€1,089 | -62.5% |
| Taxes, remuneration and social security | 45 | €22,541 | €25,156 | +€2,615 | +11.6% |
| Taxes | 450/3 | €22,541 | €25,156 | +€2,615 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €349 | +€349 | |
| Other operating charges | 640/8 | €3,506 | €292 | -€3,214 | -91.7% |
| Gross operating margin | 9900 | €69,749 | €46,591 | -€23,158 | -33.2% |
| Operating profit (loss) | 9901 | €66,243 | €45,950 | -€20,292 | -30.6% |
| Financial income | 75/76B | - | €51 | +€51 | |
| Recurring financial income | 75 | - | €51 | +€51 | |
| Financial charges | 65/66B | €110 | €273 | +€163 | +147% |
| Recurring financial charges | 65 | €110 | €273 | +€163 | +147% |
| Profit (loss) for the period before taxes | 9903 | €66,133 | €45,729 | -€20,404 | -30.9% |
| Income taxes | 67/77 | €15,567 | €12,339 | -€3,228 | -20.7% |
| Profit (loss) for the period | 9904 | €50,565 | €33,389 | -€17,176 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,565 | €33,389 | -€17,176 | -34.0% |
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 20 October 2026 via checked.be.