MELIMAT: 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.
MELIMAT
Largest movements
- Tangible fixed assets +€319,942
up €319,942 (+32.8%), from €975,129 to €1.3m
of which Land and buildings: +€336,799
- Debts after one year +€259,446
up €259,446 (+57.2%), from €453,801 to €713,247
of which Financial debts: +€264,829
- Current portion of long-term debt +€36,198
up €36,198 (+38.8%), from €93,294 to €129,492
- Reserves +€30,373
up €30,373 (+10.6%), from €287,426 to €317,799
- Depreciation +€41,703
up €41,703 (+185.2%), from €22,515 to €64,218
- Taxes -€7,876
down €7,876 (-48.9%), from €16,110 to €8,234
- Gross operating margin -€6,032
down €6,032 (-4.5%), from €134,660 to €128,628
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 | €1,073,346 | €1,391,471 | +€318,125 | +29.6% |
| Fixed assets | 21/28 | €975,174 | €1,295,116 | +€319,942 | +32.8% |
| Tangible fixed assets | 22/27 | €975,129 | €1,295,071 | +€319,942 | +32.8% |
| Land and buildings | 22 | €892,460 | €1,229,259 | +€336,799 | +37.7% |
| Plant, machinery and equipment | 23 | €82,669 | €65,811 | -€16,857 | -20.4% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €98,173 | €96,356 | -€1,817 | -1.9% |
| Amounts receivable within one year | 40/41 | - | €7,393 | +€7,393 | |
| Other amounts receivable | 41 | - | €7,393 | +€7,393 | |
| Cash at bank and in hand | 54/58 | €98,084 | €88,900 | -€9,184 | -9.4% |
| Deferred charges and accrued income | 490/1 | €89 | €62 | -€27 | -30.0% |
| Total equity and liabilities | 10/49 | €1,073,346 | €1,391,471 | +€318,125 | +29.6% |
| Equity | 10/15 | €487,426 | €517,799 | +€30,373 | +6.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €287,426 | €317,799 | +€30,373 | +10.6% |
| Distributable reserves | 133 | €287,426 | €317,799 | +€30,373 | +10.6% |
| Amounts payable | 17/49 | €585,921 | €873,673 | +€287,752 | +49.1% |
| Amounts payable after more than one year | 17 | €453,801 | €713,247 | +€259,446 | +57.2% |
| Financial debts | 170/4 | €265,986 | €530,815 | +€264,829 | +99.6% |
| Other amounts payable | 178/9 | €187,815 | €182,432 | -€5,384 | -2.9% |
| Amounts payable within one year | 42/48 | €106,620 | €135,194 | +€28,573 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €93,294 | €129,492 | +€36,198 | +38.8% |
| Trade debts | 44 | €1,185 | €1,098 | -€88 | -7.4% |
| Suppliers | 440/4 | €1,185 | €1,098 | -€88 | -7.4% |
| Taxes, remuneration and social security | 45 | €12,141 | €4,605 | -€7,537 | -62.1% |
| Taxes | 450/3 | €10,066 | €4,605 | -€5,462 | -54.3% |
| Remuneration and social security | 454/9 | €2,075 | - | -€2,075 | |
| Accrued charges and deferred income | 492/3 | €25,499 | €25,232 | -€267 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,515 | €64,218 | +€41,703 | +185.2% |
| Other operating charges | 640/8 | €3,577 | €3,905 | +€328 | +9.2% |
| Gross operating margin | 9900 | €134,660 | €128,628 | -€6,032 | -4.5% |
| Operating profit (loss) | 9901 | €108,568 | €60,505 | -€48,063 | -44.3% |
| Financial income | 75/76B | €586 | - | -€586 | |
| Recurring financial income | 75 | €586 | - | -€586 | |
| Financial charges | 65/66B | €22,676 | €21,898 | -€778 | -3.4% |
| Recurring financial charges | 65 | €22,676 | €21,898 | -€778 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €86,478 | €38,607 | -€47,871 | -55.4% |
| Income taxes | 67/77 | €16,110 | €8,234 | -€7,876 | -48.9% |
| Profit (loss) for the period | 9904 | €70,368 | €30,373 | -€39,995 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €70,368 | €30,373 | -€39,995 | -56.8% |
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 3 October 2026 via checked.be.