MELLOWCAPITAL: 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.
MELLOWCAPITAL
Largest movements
- Cash +€52,503
up €52,503 (+113%), from €46,307 to €98,810
mainly Net result for the year (+€60,070) and Receivables within one year (+€44,173)
- Receivables within one year -€44,173
down €44,173 (-66.5%), from €66,419 to €22,246
of which Other amounts receivable: -€27,172
- Deferred charges and accrued income +€1,706
new in 2025: €1,706
- Profit (loss) carried forward +€60,070
up €60,070 (+56.4%), from -€106,584 to -€46,514
- Debts after one year -€50,183
down €50,183 (-27.7%), from €181,150 to €130,967
- Trade debts -€5,123
down €5,123 (-36.8%), from €13,907 to €8,784
- Current portion of long-term debt +€3,470
new in 2025: €3,470
- Financial charges -€135,831
down €135,831 (-98.0%), from €138,597 to €2,766
of which Non-recurring financial charges: -€137,735
- Gross operating margin +€68,214
up €68,214 (+1,311%), from €5,201 to €73,415
- Financial income -€5,573
down €5,573 (-81.6%), from €6,828 to €1,256
- Staff costs -€2,601
down €2,601 (-33.0%), from €7,887 to €5,286
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 | €151,582 | €161,162 | +€9,580 | +6.3% |
| Fixed assets | 21/28 | €38,856 | €38,401 | -€455 | -1.2% |
| Tangible fixed assets | 22/27 | €36,266 | €35,811 | -€455 | -1.3% |
| Land and buildings | 22 | €29,021 | €27,271 | -€1,750 | -6.0% |
| Furniture and vehicles | 24 | €4,749 | €6,876 | +€2,127 | +44.8% |
| Other tangible fixed assets | 26 | €2,497 | €1,664 | -€832 | -33.3% |
| Financial fixed assets | 28 | €2,590 | €2,590 | = | 0.0% |
| Current assets | 29/58 | €112,726 | €122,761 | +€10,036 | +8.9% |
| Amounts receivable within one year | 40/41 | €66,419 | €22,246 | -€44,173 | -66.5% |
| Trade receivables | 40 | €17,005 | €4 | -€17,001 | -100.0% |
| Other amounts receivable | 41 | €49,413 | €22,242 | -€27,172 | -55.0% |
| Cash at bank and in hand | 54/58 | €46,307 | €98,810 | +€52,503 | +113% |
| Deferred charges and accrued income | 490/1 | - | €1,706 | +€1,706 | |
| Total equity and liabilities | 10/49 | €151,582 | €161,162 | +€9,580 | +6.3% |
| Equity | 10/15 | -€43,567 | €16,504 | +€60,070 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,418 | €44,418 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,558 | €37,558 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,584 | -€46,514 | +€60,070 | +56.4% |
| Amounts payable | 17/49 | €195,148 | €144,659 | -€50,490 | -25.9% |
| Amounts payable after more than one year | 17 | €181,150 | €130,967 | -€50,183 | -27.7% |
| Financial debts | 170/4 | €181,150 | €130,967 | -€50,183 | -27.7% |
| Amounts payable within one year | 42/48 | €13,999 | €13,692 | -€307 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,470 | +€3,470 | |
| Trade debts | 44 | €13,907 | €8,784 | -€5,123 | -36.8% |
| Suppliers | 440/4 | €13,907 | €8,784 | -€5,123 | -36.8% |
| Taxes, remuneration and social security | 45 | €92 | €1,438 | +€1,346 | +1,470% |
| Taxes | 450/3 | €92 | €1,438 | +€1,346 | +1,470% |
| Remuneration, social security and pensions | 62 | €7,887 | €5,286 | -€2,601 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,235 | €4,917 | +€681 | +16.1% |
| Other operating charges | 640/8 | €1,173 | €875 | -€298 | -25.4% |
| Gross operating margin | 9900 | €5,201 | €73,415 | +€68,214 | +1,311% |
| Operating profit (loss) | 9901 | -€8,094 | €62,337 | +€70,431 | |
| Financial income | 75/76B | €6,828 | €1,256 | -€5,573 | -81.6% |
| Recurring financial income | 75 | €6,828 | €1,256 | -€5,573 | -81.6% |
| Financial charges | 65/66B | €138,597 | €2,766 | -€135,831 | -98.0% |
| Recurring financial charges | 65 | €291 | €2,195 | +€1,904 | +654% |
| Non-recurring financial charges | 66B | €138,306 | €571 | -€137,735 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€139,863 | €60,827 | +€200,689 | |
| Income taxes | 67/77 | €92 | €756 | +€665 | +726% |
| Profit (loss) for the period | 9904 | -€139,955 | €60,070 | +€200,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€139,955 | €60,070 | +€200,025 |
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.