MELIANDER: 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.
MELIANDER
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+264.9%), from €447,357 to €1.6m
of which Land and buildings: +€817,251
- Cash +€19,589
up €19,589 (+51.9%), from €37,774 to €57,363
mainly Debts after one year (+€1.1m) and Trade debts (+€98,962)
- Debts after one year +€1.1m
up €1.1m (+323.7%), from €343,675 to €1.5m
- Trade debts +€98,962
up €98,962 (+111.4%), from €88,802 to €187,764
- Profit (loss) carried forward -€49,678
new in 2025: -€49,678
- Current portion of long-term debt +€43,617
up €43,617 (+232.7%), from €18,741 to €62,358
- Reserves -€25,580
down €25,580 (-100.0%), from €25,580 to €0
- Staff costs +€36,545
up €36,545 (+48.8%), from €74,905 to €111,450
- Gross operating margin -€18,508
down €18,508 (-13.1%), from €141,643 to €123,135
- Depreciation +€18,259
up €18,259 (+54.4%), from €33,535 to €51,794
- Financial charges +€17,568
up €17,568 (+127.8%), from €13,747 to €31,315
- Other operating charges +€4,345
up €4,345 (+200.6%), from €2,166 to €6,511
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 | €536,554 | €1,745,858 | +€1.2m | +225.4% |
| Fixed assets | 21/28 | €447,883 | €1,638,291 | +€1.2m | +265.8% |
| Intangible fixed assets | 21 | €1 | €5,763 | +€5,762 | +576164.0% |
| Tangible fixed assets | 22/27 | €447,357 | €1,632,529 | +€1.2m | +264.9% |
| Land and buildings | 22 | €414,172 | €1,231,422 | +€817,251 | +197.3% |
| Plant, machinery and equipment | 23 | €26,814 | €400,280 | +€373,466 | +1392.8% |
| Furniture and vehicles | 24 | €6,372 | €826 | -€5,546 | -87.0% |
| Financial fixed assets | 28 | €525 | €0 | -€525 | -100.0% |
| Current assets | 29/58 | €88,671 | €107,567 | +€18,896 | +21.3% |
| Stocks and contracts in progress | 3 | €18,865 | €21,111 | +€2,246 | +11.9% |
| Stocks | 30/36 | €18,865 | €21,111 | +€2,246 | +11.9% |
| Amounts receivable within one year | 40/41 | €31,666 | €19,168 | -€12,498 | -39.5% |
| Trade receivables | 40 | €3,590 | €280 | -€3,310 | -92.2% |
| Other amounts receivable | 41 | €28,077 | €18,888 | -€9,188 | -32.7% |
| Cash at bank and in hand | 54/58 | €37,774 | €57,363 | +€19,589 | +51.9% |
| Deferred charges and accrued income | 490/1 | €365 | €9,925 | +€9,560 | +2619.2% |
| Total equity and liabilities | 10/49 | €536,554 | €1,745,858 | +€1.2m | +225.4% |
| Equity | 10/15 | €45,580 | -€29,678 | -€75,258 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €25,580 | €0 | -€25,580 | -100.0% |
| Distributable reserves | 133 | €25,580 | €0 | -€25,580 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€49,678 | -€49,678 | |
| Amounts payable | 17/49 | €490,974 | €1,775,536 | +€1.3m | +261.6% |
| Amounts payable after more than one year | 17 | €343,675 | €1,456,317 | +€1.1m | +323.7% |
| Financial debts | 170/4 | €343,675 | €1,456,317 | +€1.1m | +323.7% |
| Amounts payable within one year | 42/48 | €146,504 | €317,018 | +€170,514 | +116.4% |
| Current portion of amounts payable after more than one year | 42 | €18,741 | €62,358 | +€43,617 | +232.7% |
| Financial debts | 43 | - | €4,207 | +€4,207 | |
| Credit institutions | 430/8 | - | €4,207 | +€4,207 | |
| Trade debts | 44 | €88,802 | €187,764 | +€98,962 | +111.4% |
| Suppliers | 440/4 | €88,802 | €187,764 | +€98,962 | +111.4% |
| Advances received on contracts in progress | 46 | €50 | €1,098 | +€1,048 | +2096.0% |
| Taxes, remuneration and social security | 45 | €14,663 | €22,846 | +€8,183 | +55.8% |
| Remuneration and social security | 454/9 | €14,663 | €22,846 | +€8,183 | +55.8% |
| Other amounts payable | 47/48 | €24,248 | €38,745 | +€14,497 | +59.8% |
| Accrued charges and deferred income | 492/3 | €795 | €2,201 | +€1,406 | +176.9% |
| Non-recurring operating income | 76A | €2,500 | €0 | -€2,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €74,905 | €111,450 | +€36,545 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,535 | €51,794 | +€18,259 | +54.4% |
| Other operating charges | 640/8 | €2,166 | €6,511 | +€4,345 | +200.6% |
| Gross operating margin | 9900 | €141,643 | €123,135 | -€18,508 | -13.1% |
| Operating profit (loss) | 9901 | €31,036 | -€46,621 | -€77,657 | |
| Financial income | 75/76B | €2,174 | €2,840 | +€666 | +30.6% |
| Recurring financial income | 75 | €2,174 | €2,840 | +€666 | +30.6% |
| Financial charges | 65/66B | €13,747 | €31,315 | +€17,568 | +127.8% |
| Recurring financial charges | 65 | €13,747 | €31,315 | +€17,568 | +127.8% |
| Profit (loss) for the period before taxes | 9903 | €19,463 | -€75,096 | -€94,559 | |
| Income taxes | 67/77 | €153 | €161 | +€8 | +5.5% |
| Profit (loss) for the period | 9904 | €19,310 | -€75,258 | -€94,567 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,310 | -€75,258 | -€94,567 |
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 12 October 2026 via checked.be.