MELINDA: 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
MELINDA
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€81,092
2024 · -€187,680+€106,588
Equity
€228,751
2024 · €309,843-€81,092
Cash
€4,479
2024 · €3,775+€704
Balance sheet total
€3.5m
2024 · €3.7m-€119,425
Largest movements
Assets
- Tangible fixed assets -€129,197
down €129,197 (-3.5%), from €3.6m to €3.5m
of which Land and buildings: -€108,751
Equity and liabilities
- Profit (loss) carried forward -€81,092
down €81,092 (-5.7%), from -€1.4m to -€1.5m
Income statement
- Other operating charges -€101,120
down €101,120 (-79.5%), from €127,253 to €26,133
- Gross operating margin +€17,406
up €17,406 (+18.7%), from €92,907 to €110,313
- Financial charges +€13,369
up €13,369 (+60.3%), from €22,185 to €35,554
- Depreciation -€1,248
down €1,248 (-1.0%), from €130,446 to €129,197
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
-€187,680
Gross operating margin
+€17,406
Depreciation
+€1,248
Other operating charges
+€101,120
Financial income
+€211
Financial charges
-€13,369
Taxes
-€29
Result 2025
-€81,092
raises the resultlowers the result
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
+€45,413
Investment
€0
Financing
-€44,709
Cash 2024
€3,775
From operations (derived)
+€45,413
Net result for the year
-€81,092
Depreciation
+€129,197
Receivables within one year
-€8,970
Smaller working-capital items
+€98
Trade debts
+€5,528
Accrued charges and deferred income
+€651
Financing
-€44,709
Debts after one year
-€31,738
Current portion of long-term debt
-€12,971
Cash 2025
€4,479
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,654,997 | €3,535,572 | -€119,425 | -3.3% |
| Fixed assets | 21/28 | €3,647,340 | €3,518,142 | -€129,197 | -3.5% |
| Tangible fixed assets | 22/27 | €3,646,984 | €3,517,786 | -€129,197 | -3.5% |
| Land and buildings | 22 | €3,552,139 | €3,443,388 | -€108,751 | -3.1% |
| Plant, machinery and equipment | 23 | €84,966 | €65,591 | -€19,376 | -22.8% |
| Furniture and vehicles | 24 | €3,953 | €2,883 | -€1,071 | -27.1% |
| Other tangible fixed assets | 26 | €5,925 | €5,925 | = | 0.0% |
| Financial fixed assets | 28 | €356 | €356 | = | 0.0% |
| Current assets | 29/58 | €7,657 | €17,430 | +€9,773 | +128% |
| Amounts receivable within one year | 40/41 | €2,591 | €11,560 | +€8,970 | +346% |
| Trade receivables | 40 | - | €11,120 | +€11,120 | |
| Other amounts receivable | 41 | €2,591 | €440 | -€2,151 | -83.0% |
| Cash at bank and in hand | 54/58 | €3,775 | €4,479 | +€704 | +18.6% |
| Deferred charges and accrued income | 490/1 | €1,291 | €1,391 | +€99 | +7.7% |
| Total equity and liabilities | 10/49 | €3,654,997 | €3,535,572 | -€119,425 | -3.3% |
| Equity | 10/15 | €309,843 | €228,751 | -€81,092 | -26.2% |
| Contributions | 10/11 | €172,286 | €172,286 | = | 0.0% |
| Revaluation surpluses | 12 | €1,565,839 | €1,565,839 | = | 0.0% |
| Reserves | 13 | €1,090 | €1,090 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,090 | €1,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,429,372 | -€1,510,464 | -€81,092 | -5.7% |
| Amounts payable | 17/49 | €3,345,154 | €3,306,822 | -€38,333 | -1.1% |
| Amounts payable after more than one year | 17 | €3,182,129 | €3,150,391 | -€31,738 | -1.0% |
| Financial debts | 170/4 | €866,358 | €802,970 | -€63,388 | -7.3% |
| Other amounts payable | 178/9 | €2,315,771 | €2,347,421 | +€31,650 | +1.4% |
| Amounts payable within one year | 42/48 | €154,591 | €147,345 | -€7,246 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €78,760 | €65,789 | -€12,971 | -16.5% |
| Trade debts | 44 | €1,994 | €7,523 | +€5,528 | +277% |
| Suppliers | 440/4 | €1,994 | €7,523 | +€5,528 | +277% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €73,837 | €74,034 | +€197 | +0.3% |
| Accrued charges and deferred income | 492/3 | €8,434 | €9,085 | +€651 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,446 | €129,197 | -€1,248 | -1.0% |
| Other operating charges | 640/8 | €127,253 | €26,133 | -€101,120 | -79.5% |
| Gross operating margin | 9900 | €92,907 | €110,313 | +€17,406 | +18.7% |
| Operating profit (loss) | 9901 | -€164,792 | -€45,018 | +€119,774 | +72.7% |
| Financial income | 75/76B | €26 | €237 | +€211 | +822% |
| Recurring financial income | 75 | €26 | €237 | +€211 | +822% |
| Financial charges | 65/66B | €22,185 | €35,554 | +€13,369 | +60.3% |
| Recurring financial charges | 65 | €22,185 | €35,554 | +€13,369 | +60.3% |
| Profit (loss) for the period before taxes | 9903 | -€186,952 | -€80,335 | +€106,616 | +57.0% |
| Income taxes | 67/77 | €728 | €757 | +€29 | +3.9% |
| Profit (loss) for the period | 9904 | -€187,680 | -€81,092 | +€106,588 | +56.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€187,680 | -€81,092 | +€106,588 | +56.8% |
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 19 October 2026 via checked.be.