MELOGRANO: 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.
MELOGRANO
Largest movements
- Cash +€712,738
up €712,738 (+42.6%), from €1.7m to €2.4m
mainly Net result for the year (+€913,511) and Receivables after one year (+€81,968)
- Current investments +€256,424
up €256,424 (+2.4%), from €10.8m to €11.1m
- Reserves +€818,646
up €818,646 (+18.3%), from €4.5m to €5.3m
- Financial income +€884,592
up €884,592 (+218.2%), from €405,481 to €1.3m
- Financial charges +€121,718
up €121,718 (+131.7%), from €92,417 to €214,135
- Taxes +€44,393
up €44,393 (+46.3%), from €95,844 to €140,238
- Gross operating margin +€19,506
up €19,506 (+68.9%), from -€28,301 to -€8,795
- Other operating charges -€8,732
down €8,732 (-88.6%), from €9,850 to €1,118
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 | €19,370,676 | €20,302,853 | +€932,176 | +4.8% |
| Fixed assets | 21/28 | €2,280,036 | €2,280,036 | = | 0.0% |
| Financial fixed assets | 28 | €2,280,036 | €2,280,036 | = | 0.0% |
| Current assets | 29/58 | €17,090,640 | €18,022,817 | +€932,176 | +5.5% |
| Amounts receivable after more than one year | 29 | €4,386,784 | €4,304,816 | -€81,968 | -1.9% |
| Other amounts receivable | 291 | €4,386,784 | €4,304,816 | -€81,968 | -1.9% |
| Amounts receivable within one year | 40/41 | €193,115 | €239,363 | +€46,248 | +23.9% |
| Trade receivables | 40 | - | €998 | +€998 | |
| Other amounts receivable | 41 | €193,115 | €238,365 | +€45,250 | +23.4% |
| Current investments | 50/53 | €10,836,415 | €11,092,839 | +€256,424 | +2.4% |
| Cash at bank and in hand | 54/58 | €1,673,061 | €2,385,799 | +€712,738 | +42.6% |
| Deferred charges and accrued income | 490/1 | €1,265 | €0 | -€1,265 | -100.0% |
| Total equity and liabilities | 10/49 | €19,370,676 | €20,302,853 | +€932,176 | +4.8% |
| Equity | 10/15 | €19,298,203 | €20,116,849 | +€818,646 | +4.2% |
| Contributions | 10/11 | €14,834,000 | €14,834,000 | = | 0.0% |
| Reserves | 13 | €4,464,203 | €5,282,849 | +€818,646 | +18.3% |
| Distributable reserves | 133 | €4,464,203 | €5,282,849 | +€818,646 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €72,473 | €186,003 | +€113,530 | +156.7% |
| Amounts payable within one year | 42/48 | €72,473 | €186,003 | +€113,530 | +156.7% |
| Trade debts | 44 | €414 | €0 | -€414 | -100.0% |
| Suppliers | 440/4 | €414 | €0 | -€414 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,907 | €86,851 | +€68,944 | +385.0% |
| Taxes | 450/3 | €17,907 | €86,851 | +€68,944 | +385.0% |
| Other amounts payable | 47/48 | €54,152 | €99,152 | +€45,000 | +83.1% |
| Other operating charges | 640/8 | €9,850 | €1,118 | -€8,732 | -88.6% |
| Non-recurring operating charges | 66A | - | €12,275 | +€12,275 | |
| Gross operating margin | 9900 | -€28,301 | -€8,795 | +€19,506 | +68.9% |
| Operating profit (loss) | 9901 | -€38,151 | -€22,188 | +€15,963 | +41.8% |
| Financial income | 75/76B | €405,481 | €1,290,073 | +€884,592 | +218.2% |
| Recurring financial income | 75 | €405,481 | €1,290,073 | +€884,592 | +218.2% |
| Financial charges | 65/66B | €92,417 | €214,135 | +€121,718 | +131.7% |
| Recurring financial charges | 65 | €92,417 | €214,135 | +€121,718 | +131.7% |
| Profit (loss) for the period before taxes | 9903 | €274,912 | €1,053,749 | +€778,837 | +283.3% |
| Income taxes | 67/77 | €95,844 | €140,238 | +€44,393 | +46.3% |
| Profit (loss) for the period | 9904 | €179,068 | €913,511 | +€734,443 | +410.1% |
| Profit (loss) for the period to be appropriated | 9905 | €179,068 | €913,511 | +€734,443 | +410.1% |
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 29 September 2026 via checked.be.