MELLON: 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.
MELLON
Largest movements
- Financial fixed assets +€2.0m
up €2.0m (+31.6%), from €6.4m to €8.4m
- Receivables after one year +€715,512
up €715,512 (+34.0%), from €2.1m to €2.8m
- Current investments -€602,102
down €602,102 (-100%), from €602,102 to €0
- Cash +€330,266
up €330,266 (+192%), from €172,140 to €502,407
mainly Other debts (+€2.2m) and Current investments (+€602,102)
- Other debts +€2.2m
up €2.2m (+3,670%), from €61,173 to €2.3m
- Reserves +€467,944
up €467,944 (+239%), from €195,914 to €663,858
- Financial income +€475,787
up €475,787 (+395%), from €120,441 to €596,228
of which Financial income: +€310,177
- Financial charges +€99,679
up €99,679, from -€97,397 to €2,282
- Gross operating margin -€90,770
down €90,770 (-772%), from -€11,752 to -€102,523
- Depreciation +€8,303
up €8,303 (+61.8%), from €13,436 to €21,738
- Taxes -€5,339
down €5,339 (-96.0%), from €5,563 to €224
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 | €9,676,944 | €12,205,849 | +€2.5m | +26.1% |
| Fixed assets | 21/28 | €6,508,321 | €8,574,882 | +€2.1m | +31.8% |
| Tangible fixed assets | 22/27 | €156,400 | €215,249 | +€58,849 | +37.6% |
| Plant, machinery and equipment | 23 | €3,194 | €2,498 | -€696 | -21.8% |
| Furniture and vehicles | 24 | €12,707 | €72,251 | +€59,544 | +469% |
| Other tangible fixed assets | 26 | €140,500 | €140,500 | = | 0.0% |
| Financial fixed assets | 28 | €6,351,921 | €8,359,633 | +€2.0m | +31.6% |
| Current assets | 29/58 | €3,168,623 | €3,630,967 | +€462,344 | +14.6% |
| Amounts receivable after more than one year | 29 | €2,103,101 | €2,818,613 | +€715,512 | +34.0% |
| Other amounts receivable | 291 | €2,103,101 | €2,818,613 | +€715,512 | +34.0% |
| Amounts receivable within one year | 40/41 | €286,882 | €297,585 | +€10,703 | +3.7% |
| Trade receivables | 40 | €21,460 | €0 | -€21,460 | -100% |
| Other amounts receivable | 41 | €265,422 | €297,585 | +€32,163 | +12.1% |
| Current investments | 50/53 | €602,102 | €0 | -€602,102 | -100% |
| Cash at bank and in hand | 54/58 | €172,140 | €502,407 | +€330,266 | +192% |
| Deferred charges and accrued income | 490/1 | €4,398 | €12,363 | +€7,964 | +181% |
| Total equity and liabilities | 10/49 | €9,676,944 | €12,205,849 | +€2.5m | +26.1% |
| Equity | 10/15 | €368,915 | €836,859 | +€467,944 | +127% |
| Contributions | 10/11 | €173,001 | €173,001 | = | 0.0% |
| Reserves | 13 | €195,914 | €663,858 | +€467,944 | +239% |
| Distributable reserves | 133 | €195,914 | €663,858 | +€467,944 | +239% |
| Amounts payable | 17/49 | €9,308,029 | €11,368,990 | +€2.1m | +22.1% |
| Amounts payable after more than one year | 17 | €9,120,000 | €9,050,000 | -€70,000 | -0.8% |
| Financial debts | 170/4 | €9,120,000 | €9,050,000 | -€70,000 | -0.8% |
| Amounts payable within one year | 42/48 | €188,029 | €2,318,990 | +€2.1m | +1,133% |
| Financial debts | 43 | €107,745 | €0 | -€107,745 | -100% |
| Other loans | 439 | €107,745 | €0 | -€107,745 | -100% |
| Trade debts | 44 | €15,953 | €12,226 | -€3,727 | -23.4% |
| Suppliers | 440/4 | €15,953 | €12,226 | -€3,727 | -23.4% |
| Taxes, remuneration and social security | 45 | €3,158 | €749 | -€2,409 | -76.3% |
| Taxes | 450/3 | €3,158 | €749 | -€2,409 | -76.3% |
| Other amounts payable | 47/48 | €61,173 | €2,306,015 | +€2.2m | +3,670% |
| Non-recurring operating income | 76A | - | €1,061 | +€1,061 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,436 | €21,738 | +€8,303 | +61.8% |
| Other operating charges | 640/8 | €1,225 | €1,517 | +€293 | +23.9% |
| Gross operating margin | 9900 | -€11,752 | -€102,523 | -€90,770 | -772% |
| Operating profit (loss) | 9901 | -€26,412 | -€125,778 | -€99,366 | -376% |
| Financial income | 75/76B | €120,441 | €596,228 | +€475,787 | +395% |
| Recurring financial income | 75 | €120,441 | €430,618 | +€310,177 | +258% |
| Non-recurring financial income | 76B | - | €165,610 | +€165,610 | |
| Financial charges | 65/66B | -€97,397 | €2,282 | +€99,679 | |
| Recurring financial charges | 65 | -€97,397 | €2,282 | +€99,679 | |
| Profit (loss) for the period before taxes | 9903 | €191,426 | €468,168 | +€276,742 | +145% |
| Income taxes | 67/77 | €5,563 | €224 | -€5,339 | -96.0% |
| Profit (loss) for the period | 9904 | €185,862 | €467,944 | +€282,082 | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €185,862 | €467,944 | +€282,082 | +152% |
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 24 October 2026 via checked.be.