MELKERHEI: 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.
MELKERHEI
Largest movements
- Cash +€47,632
up €47,632 (+1,104%), from €4,315 to €51,946
mainly Depreciation (+€80,745) and Net result for the year (+€69,035)
- Receivables within one year +€16,724
up €16,724 (+36.5%), from €45,806 to €62,530
of which Trade receivables: +€25,482
- Current investments -€15,000
down €15,000 (-43.7%), from €34,320 to €19,320
- Debts after one year -€58,716
down €58,716 (-17.6%), from €333,229 to €274,513
- Reserves +€55,497
up €55,497 (+31.9%), from €174,143 to €229,640
of which Distributable reserves: +€55,497
- Trade debts +€20,914
up €20,914 (+38.6%), from €54,202 to €75,116
- Profit (loss) carried forward +€13,538
up €13,538, from -€13,538 to €0
- Gross operating margin +€96,859
up €96,859 (+36.5%), from €265,520 to €362,379
- Depreciation +€13,945
up €13,945 (+20.9%), from €66,799 to €80,745
- Staff costs +€8,215
up €8,215 (+5.0%), from €164,509 to €172,724
- Taxes +€7,039
up €7,039 (+1,499%), from €469 to €7,509
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 | €715,719 | €756,685 | +€40,966 | +5.7% |
| Formation expenses | 20 | €3,571 | €2,608 | -€963 | -27.0% |
| Fixed assets | 21/28 | €554,537 | €546,659 | -€7,878 | -1.4% |
| Intangible fixed assets | 21 | €14,704 | €10,760 | -€3,944 | -26.8% |
| Tangible fixed assets | 22/27 | €537,484 | €533,549 | -€3,935 | -0.7% |
| Land and buildings | 22 | €440,636 | €424,032 | -€16,604 | -3.8% |
| Plant, machinery and equipment | 23 | €66,858 | €72,153 | +€5,295 | +7.9% |
| Furniture and vehicles | 24 | €29,989 | €37,364 | +€7,375 | +24.6% |
| Financial fixed assets | 28 | €2,350 | €2,350 | = | 0.0% |
| Current assets | 29/58 | €157,611 | €207,418 | +€49,807 | +31.6% |
| Amounts receivable after more than one year | 29 | €4,330 | €1,811 | -€2,519 | -58.2% |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | €4,330 | €1,811 | -€2,519 | -58.2% |
| Stocks and contracts in progress | 3 | €66,774 | €65,902 | -€872 | -1.3% |
| Stocks | 30/36 | €66,774 | €65,902 | -€872 | -1.3% |
| Amounts receivable within one year | 40/41 | €45,806 | €62,530 | +€16,724 | +36.5% |
| Trade receivables | 40 | €32,482 | €57,965 | +€25,482 | +78.4% |
| Other amounts receivable | 41 | €13,323 | €4,565 | -€8,758 | -65.7% |
| Current investments | 50/53 | €34,320 | €19,320 | -€15,000 | -43.7% |
| Cash at bank and in hand | 54/58 | €4,315 | €51,946 | +€47,632 | +1,104% |
| Deferred charges and accrued income | 490/1 | €2,066 | €5,909 | +€3,842 | +186% |
| Total equity and liabilities | 10/49 | €715,719 | €756,685 | +€40,966 | +5.7% |
| Equity | 10/15 | €173,005 | €242,040 | +€69,035 | +39.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €174,143 | €229,640 | +€55,497 | +31.9% |
| Tax-exempt reserves | 132 | €8,983 | €8,983 | = | 0.0% |
| Distributable reserves | 133 | €165,160 | €220,657 | +€55,497 | +33.6% |
| Profit (loss) carried forward | 14 | -€13,538 | €0 | +€13,538 | |
| Amounts payable | 17/49 | €542,714 | €514,645 | -€28,069 | -5.2% |
| Amounts payable after more than one year | 17 | €333,229 | €274,513 | -€58,716 | -17.6% |
| Financial debts | 170/4 | €333,229 | €274,513 | -€58,716 | -17.6% |
| Amounts payable within one year | 42/48 | €194,132 | €224,495 | +€30,363 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €79,178 | €84,710 | +€5,531 | +7.0% |
| Financial debts | 43 | €1,760 | €1,775 | +€14 | +0.8% |
| Credit institutions | 430/8 | €1,760 | €1,775 | +€14 | +0.8% |
| Trade debts | 44 | €54,202 | €75,116 | +€20,914 | +38.6% |
| Suppliers | 440/4 | €54,202 | €75,116 | +€20,914 | +38.6% |
| Taxes, remuneration and social security | 45 | €1,308 | €5,624 | +€4,316 | +330% |
| Taxes | 450/3 | €1,308 | €5,624 | +€4,316 | +330% |
| Other amounts payable | 47/48 | €57,683 | €57,271 | -€412 | -0.7% |
| Accrued charges and deferred income | 492/3 | €15,354 | €15,637 | +€283 | +1.8% |
| Non-recurring operating income | 76A | €3,740 | €2,000 | -€1,740 | -46.5% |
| Remuneration, social security and pensions | 62 | €164,509 | €172,724 | +€8,215 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,799 | €80,745 | +€13,945 | +20.9% |
| Other operating charges | 640/8 | €3,161 | €6,199 | +€3,039 | +96.1% |
| Non-recurring operating charges | 66A | - | €5,542 | +€5,542 | |
| Gross operating margin | 9900 | €265,520 | €362,379 | +€96,859 | +36.5% |
| Operating profit (loss) | 9901 | €31,051 | €97,170 | +€66,119 | +213% |
| Financial income | 75/76B | €61 | €171 | +€110 | +179% |
| Recurring financial income | 75 | €61 | €171 | +€110 | +179% |
| Financial charges | 65/66B | €19,935 | €20,797 | +€861 | +4.3% |
| Recurring financial charges | 65 | €19,935 | €20,797 | +€861 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €11,177 | €76,544 | +€65,367 | +585% |
| Income taxes | 67/77 | €469 | €7,509 | +€7,039 | +1,499% |
| Profit (loss) for the period | 9904 | €10,707 | €69,035 | +€58,328 | +545% |
| Profit (loss) for the period to be appropriated | 9905 | €10,707 | €69,035 | +€58,328 | +545% |
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 14 October 2026 via checked.be.