MELORO: 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.
MELORO
Largest movements
- Tangible fixed assets -€130,417
down €130,417 (-2.8%), from €4.6m to €4.5m
- Profit (loss) carried forward -€116,070
down €116,070 (-32.4%), from -€358,699 to -€474,770
- Debts after one year -€101,180
down €101,180 (-3.4%), from €2.9m to €2.8m
of which Financial debts: -€102,030
- Gross operating margin +€32,955
up €32,955 (+44.6%), from €73,970 to €106,925
- Purchases and services +€23,432
up €23,432 (+90.9%), from €25,790 to €49,222
- Other operating charges +€12,837
new in 2025: €12,837
- Financial charges -€6,011
down €6,011 (-7.0%), from €85,753 to €79,741
- Depreciation +€1,268
up €1,268 (+1.0%), from €129,149 to €130,417
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 | €4,761,639 | €4,617,390 | -€144,249 | -3.0% |
| Fixed assets | 21/28 | €4,648,226 | €4,517,809 | -€130,417 | -2.8% |
| Tangible fixed assets | 22/27 | €4,648,226 | €4,517,809 | -€130,417 | -2.8% |
| Land and buildings | 22 | €4,648,226 | €4,517,809 | -€130,417 | -2.8% |
| Current assets | 29/58 | €113,413 | €99,581 | -€13,832 | -12.2% |
| Amounts receivable within one year | 40/41 | €471 | €4,134 | +€3,663 | +776.9% |
| Other amounts receivable | 41 | €471 | €4,134 | +€3,663 | +776.9% |
| Cash at bank and in hand | 54/58 | €110,949 | €91,663 | -€19,286 | -17.4% |
| Deferred charges and accrued income | 490/1 | €1,993 | €3,783 | +€1,791 | +89.9% |
| Total equity and liabilities | 10/49 | €4,761,639 | €4,617,390 | -€144,249 | -3.0% |
| Equity | 10/15 | €641,301 | €525,230 | -€116,070 | -18.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,699 | -€474,770 | -€116,070 | -32.4% |
| Amounts payable | 17/49 | €4,120,338 | €4,092,160 | -€28,179 | -0.7% |
| Amounts payable after more than one year | 17 | €2,932,848 | €2,831,668 | -€101,180 | -3.4% |
| Financial debts | 170/4 | €2,929,318 | €2,827,288 | -€102,030 | -3.5% |
| Other amounts payable | 178/9 | €3,530 | €4,380 | +€850 | +24.1% |
| Amounts payable within one year | 42/48 | €1,187,490 | €1,260,492 | +€73,002 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €106,815 | €110,382 | +€3,568 | +3.3% |
| Trade debts | 44 | €5,675 | €40,942 | +€35,266 | +621.4% |
| Suppliers | 440/4 | €5,675 | €40,942 | +€35,266 | +621.4% |
| Other amounts payable | 47/48 | €1,075,000 | €1,109,168 | +€34,168 | +3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €25,790 | €49,222 | +€23,432 | +90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,149 | €130,417 | +€1,268 | +1.0% |
| Other operating charges | 640/8 | - | €12,837 | +€12,837 | |
| Gross operating margin | 9900 | €73,970 | €106,925 | +€32,955 | +44.6% |
| Operating profit (loss) | 9901 | -€55,179 | -€36,329 | +€18,850 | +34.2% |
| Financial charges | 65/66B | €85,753 | €79,741 | -€6,011 | -7.0% |
| Recurring financial charges | 65 | €85,753 | €79,741 | -€6,011 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€140,932 | -€116,070 | +€24,861 | +17.6% |
| Profit (loss) for the period | 9904 | -€140,932 | -€116,070 | +€24,861 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,932 | -€116,070 | +€24,861 | +17.6% |
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 5 October 2026 via checked.be.