MELOBEL: 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.
MELOBEL
Largest movements
- Cash +€60,947
up €60,947 (+32.4%), from €187,953 to €248,900
mainly Net result for the year (+€48,592) and Depreciation (+€10,201)
- Reserves +€48,592
up €48,592 (+4.1%), from €1.2m to €1.2m
of which Distributable reserves: +€48,592
- Gross operating margin +€10,362
up €10,362 (+13.6%), from €76,032 to €86,394
- Financial income -€9,226
down €9,226 (-100.0%), from €9,226 to €0
- Depreciation -€3,354
down €3,354 (-24.7%), from €13,555 to €10,201
- Taxes +€1,387
up €1,387 (+6.5%), from €21,289 to €22,676
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 | €1,238,761 | €1,287,650 | +€48,889 | +3.9% |
| Fixed assets | 21/28 | €1,046,767 | €1,036,566 | -€10,201 | -1.0% |
| Tangible fixed assets | 22/27 | €1,046,767 | €1,036,566 | -€10,201 | -1.0% |
| Land and buildings | 22 | €1,046,767 | €1,036,566 | -€10,201 | -1.0% |
| Current assets | 29/58 | €191,994 | €251,083 | +€59,090 | +30.8% |
| Amounts receivable within one year | 40/41 | €4,041 | €2,183 | -€1,858 | -46.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,041 | €2,183 | -€1,858 | -46.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €187,953 | €248,900 | +€60,947 | +32.4% |
| Total equity and liabilities | 10/49 | €1,238,761 | €1,287,650 | +€48,889 | +3.9% |
| Equity | 10/15 | €1,234,199 | €1,282,791 | +€48,592 | +3.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,172,199 | €1,220,791 | +€48,592 | +4.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,165,999 | €1,214,591 | +€48,592 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €4,562 | €4,859 | +€297 | +6.5% |
| Amounts payable within one year | 42/48 | €4,562 | €4,859 | +€297 | +6.5% |
| Taxes, remuneration and social security | 45 | €4,562 | €4,859 | +€297 | +6.5% |
| Taxes | 450/3 | €4,562 | €4,859 | +€297 | +6.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,555 | €10,201 | -€3,354 | -24.7% |
| Other operating charges | 640/8 | €4,747 | €4,895 | +€148 | +3.1% |
| Gross operating margin | 9900 | €76,032 | €86,394 | +€10,362 | +13.6% |
| Operating profit (loss) | 9901 | €57,729 | €71,298 | +€13,569 | +23.5% |
| Financial income | 75/76B | €9,226 | €0 | -€9,226 | -100.0% |
| Recurring financial income | 75 | €9,226 | €0 | -€9,226 | -100.0% |
| Financial charges | 65/66B | €47 | €30 | -€17 | -35.5% |
| Recurring financial charges | 65 | €47 | €30 | -€17 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €66,909 | €71,268 | +€4,359 | +6.5% |
| Income taxes | 67/77 | €21,289 | €22,676 | +€1,387 | +6.5% |
| Profit (loss) for the period | 9904 | €45,620 | €48,592 | +€2,972 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,620 | €48,592 | +€2,972 | +6.5% |
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 8 October 2026 via checked.be.