Meli: 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.
What changed
Meli
NACE 46.360, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.6m
2024 · €2.8m-€130,823
Equity
€16.8m
2024 · €15.8m+€990,318
Cash
€139,127
2024 · €371,600-€232,473
Balance sheet total
€39.1m
2024 · €43.1m-€4.0m
Largest movements
Assets
- Stocks and contracts -€6.7m
down €6.7m (-30.2%), from €22.1m to €15.4m
- Receivables within one year +€1.7m
up €1.7m (+21.6%), from €7.9m to €9.6m
of which Trade receivables: +€1.4m
- Tangible fixed assets +€1.5m
up €1.5m (+27.6%), from €5.5m to €7.0m
of which Plant, machinery and equipment: +€1.0m
Equity and liabilities
- Trade debts -€4.4m
down €4.4m (-35.2%), from €12.4m to €8.0m
- Reserves +€992,267
up €992,267 (+6.8%), from €14.7m to €15.7m
of which Distributable reserves: +€992,267
- Debts after one year -€500,000
down €500,000 (-12.4%), from €4.0m to €3.5m
Income statement
- Goods and materials -€2.0m
down €2.0m (-5.3%), from €37.2m to €35.2m
of which Purchases: -€13.2m
- Turnover -€1.1m
down €1.1m (-2.0%), from €52.6m to €51.5m
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.
Result 2024
€2.8m
Turnover
-€1.1m
Other operating income
+€67,104
Goods and materials
+€2.0m
Services and other goods
-€465,195
Staff costs
-€55,917
Depreciation
+€30,315
Write-downs
+€1,929
Other operating charges
-€12,300
Other operating items
-€1.1m
Financial income
+€350,819
Financial charges
+€16,048
Taxes
+€155,566
Result 2025
€2.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.1m
Investment
-€2.0m
Financing
-€2.3m
Cash 2024
€371,600
From operations (derived)
+€4.1m
Net result for the year
+€2.6m
Depreciation
+€836,429
Stocks and contracts
+€6.7m
Receivables within one year
-€1.7m
Smaller working-capital items
-€16,471
Trade debts
-€4.4m
Other debts
-€125,961
Accrued charges and deferred income
+€137,474
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Financing
-€2.3m
Debts after one year
-€500,000
Short-term financial debts
-€120,001
Contributions, distributions and other
-€1.7m
Cash 2025
€139,127
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,063,097 | €39,057,948 | -€4.0m | -9.3% |
| Fixed assets | 21/28 | €12,755,100 | €13,952,136 | +€1.2m | +9.4% |
| Intangible fixed assets | 21 | €41,203 | €19,541 | -€21,663 | -52.6% |
| Tangible fixed assets | 22/27 | €5,513,697 | €7,032,757 | +€1.5m | +27.6% |
| Land and buildings | 22 | €3,352,691 | €3,160,124 | -€192,568 | -5.7% |
| Plant, machinery and equipment | 23 | €1,168,005 | €2,177,672 | +€1.0m | +86.4% |
| Furniture and vehicles | 24 | €257,906 | €219,660 | -€38,246 | -14.8% |
| Assets under construction and advance payments | 27 | €735,095 | €1,475,302 | +€740,207 | +101% |
| Financial fixed assets | 28 | €7,200,200 | €6,899,838 | -€300,362 | -4.2% |
| Affiliated companies | 280/1 | €7,200,000 | €6,899,638 | -€300,362 | -4.2% |
| Participating interests | 280 | €7,200,000 | €6,899,638 | -€300,362 | -4.2% |
| Other financial fixed assets | 284/8 | €200 | €200 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €30,307,997 | €25,105,812 | -€5.2m | -17.2% |
| Stocks and contracts in progress | 3 | €22,063,330 | €15,395,227 | -€6.7m | -30.2% |
| Stocks | 30/36 | €22,063,330 | €15,395,227 | -€6.7m | -30.2% |
| Raw materials and consumables | 30/31 | €18,522,728 | €12,696,969 | -€5.8m | -31.5% |
| Finished goods | 33 | €3,236,493 | €2,261,687 | -€974,807 | -30.1% |
| Goods purchased for resale | 34 | €233,958 | €270,714 | +€36,756 | +15.7% |
| Advance payments | 36 | €70,151 | €165,858 | +€95,707 | +136% |
| Amounts receivable within one year | 40/41 | €7,870,725 | €9,567,705 | +€1.7m | +21.6% |
| Trade receivables | 40 | €7,524,479 | €8,963,438 | +€1.4m | +19.1% |
| Other amounts receivable | 41 | €346,246 | €604,268 | +€258,021 | +74.5% |
| Cash at bank and in hand | 54/58 | €371,600 | €139,127 | -€232,473 | -62.6% |
| Deferred charges and accrued income | 490/1 | €2,343 | €3,752 | +€1,409 | +60.2% |
| Total equity and liabilities | 10/49 | €43,063,097 | €39,057,948 | -€4.0m | -9.3% |
| Equity | 10/15 | €15,769,740 | €16,760,058 | +€990,318 | +6.3% |
| Contributions | 10/11 | €1,075,000 | €1,075,000 | = | 0.0% |
| Capital | 10 | €1,075,000 | €1,075,000 | = | 0.0% |
| Issued capital | 100 | €1,075,000 | €1,075,000 | = | 0.0% |
| Reserves | 13 | €14,685,019 | €15,677,286 | +€992,267 | +6.8% |
| Non-distributable reserves | 130/1 | €107,500 | €107,500 | = | 0.0% |
| Legal reserve | 130 | €107,500 | €107,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €550,640 | €550,640 | = | 0.0% |
| Distributable reserves | 133 | €14,026,879 | €15,019,146 | +€992,267 | +7.1% |
| Investment grants | 15 | €9,720 | €7,772 | -€1,949 | -20.0% |
| Provisions and deferred taxes | 16 | €3,240 | €2,591 | -€650 | -20.0% |
| Deferred taxes | 168 | €3,240 | €2,591 | -€650 | -20.0% |
| Amounts payable | 17/49 | €27,290,118 | €22,295,299 | -€5.0m | -18.3% |
| Amounts payable after more than one year | 17 | €4,025,000 | €3,525,000 | -€500,000 | -12.4% |
| Financial debts | 170/4 | €4,025,000 | €3,525,000 | -€500,000 | -12.4% |
| Credit institutions | 173 | €2,625,000 | €2,125,000 | -€500,000 | -19.0% |
| Other loans | 174 | €1,400,000 | €1,400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,851,841 | €18,219,549 | -€4.6m | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 43 | €8,320,001 | €8,200,000 | -€120,001 | -1.4% |
| Credit institutions | 430/8 | €8,320,001 | €8,200,000 | -€120,001 | -1.4% |
| Trade debts | 44 | €12,407,039 | €8,035,121 | -€4.4m | -35.2% |
| Suppliers | 440/4 | €12,407,039 | €8,035,121 | -€4.4m | -35.2% |
| Taxes, remuneration and social security | 45 | €598,781 | €584,368 | -€14,413 | -2.4% |
| Taxes | 450/3 | €90,000 | €0 | -€90,000 | -100% |
| Remuneration and social security | 454/9 | €508,781 | €584,368 | +€75,587 | +14.9% |
| Other amounts payable | 47/48 | €1,026,021 | €900,060 | -€125,961 | -12.3% |
| Accrued charges and deferred income | 492/3 | €413,276 | €550,751 | +€137,474 | +33.3% |
| Operating income | 70/76A | €53,061,221 | €50,956,327 | -€2.1m | -4.0% |
| Turnover | 70 | €52,579,271 | €51,517,409 | -€1.1m | -2.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €110,207 | -€974,807 | -€1.1m | |
| Other operating income | 74 | €345,566 | €412,670 | +€67,104 | +19.4% |
| Non-recurring operating income | 76A | €26,177 | €1,055 | -€25,122 | -96.0% |
| Operating charges | 60/66A | €49,632,589 | €48,180,950 | -€1.5m | -2.9% |
| Goods for resale, raw materials and consumables | 60 | €37,170,808 | €35,190,505 | -€2.0m | -5.3% |
| Purchases | 600/8 | €42,612,738 | €29,401,502 | -€13.2m | -31.0% |
| Change in stocks: decrease (increase) | 609 | -€5,441,930 | €5,789,003 | +€11.2m | |
| Services and other goods | 61 | €7,419,977 | €7,885,172 | +€465,195 | +6.3% |
| Remuneration, social security and pensions | 62 | €4,102,602 | €4,158,519 | +€55,917 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €866,744 | €836,429 | -€30,315 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€1,929 | -€1,929 | |
| Other operating charges | 640/8 | €72,458 | €84,758 | +€12,300 | +17.0% |
| Non-recurring operating charges | 66A | €0 | €27,496 | +€27,496 | |
| Operating profit (loss) | 9901 | €3,428,633 | €2,775,376 | -€653,256 | -19.1% |
| Financial income | 75/76B | €740,911 | €1,091,730 | +€350,819 | +47.3% |
| Recurring financial income | 75 | €740,911 | €1,091,730 | +€350,819 | +47.3% |
| Income from financial fixed assets | 750 | €675,000 | €1,000,000 | +€325,000 | +48.1% |
| Income from current assets | 751 | €41,948 | €8,712 | -€33,236 | -79.2% |
| Other financial income | 752/9 | €23,962 | €83,018 | +€59,055 | +246% |
| Financial charges | 65/66B | €651,328 | €635,280 | -€16,048 | -2.5% |
| Recurring financial charges | 65 | €651,328 | €635,280 | -€16,048 | -2.5% |
| Debt charges | 650 | €449,675 | €401,644 | -€48,030 | -10.7% |
| Other financial charges | 652/9 | €201,653 | €233,635 | +€31,982 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €3,518,215 | €3,231,826 | -€286,389 | -8.1% |
| Transfer from deferred taxes | 780 | €650 | €650 | = | 0.0% |
| Income taxes | 67/77 | €740,289 | €584,724 | -€155,566 | -21.0% |
| Taxes | 670/3 | €740,289 | €584,965 | -€155,325 | -21.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €241 | +€241 | |
| Profit (loss) for the period | 9904 | €2,778,575 | €2,647,752 | -€130,823 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,778,575 | €2,647,752 | -€130,823 | -4.7% |
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 15 October 2026 via checked.be.