MELPEC: 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.
MELPEC
Largest movements
- Cash -€128,158
down €128,158 (-29.0%), from €442,603 to €314,445
mainly Other debts (-€75,126) and Investment in fixed assets (net) (-€49,252)
- Other debts -€75,126
down €75,126 (-11.8%), from €638,856 to €563,730
- Debts after one year -€27,153
no longer reported in 2025 (was €27,153)
- Reserves -€21,178
down €21,178 (-2.7%), from €790,972 to €769,795
of which Tax-exempt reserves: -€82,796
- Gross operating margin -€238,517
down €238,517 (-72.9%), from €327,387 to €88,870
- Taxes -€9,111
down €9,111 (-59.1%), from €15,421 to €6,310
- Other operating charges +€6,589
up €6,589 (+84.6%), from €7,789 to €14,378
- Financial charges -€6,481
down €6,481 (-14.5%), from €44,738 to €38,257
- Depreciation +€4,114
up €4,114 (+7.4%), from €55,540 to €59,654
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 | €1,574,788 | €1,432,043 | -€142,745 | -9.1% |
| Fixed assets | 21/28 | €1,115,787 | €1,105,385 | -€10,402 | -0.9% |
| Tangible fixed assets | 22/27 | €1,114,007 | €1,105,005 | -€9,002 | -0.8% |
| Plant, machinery and equipment | 23 | - | €1,784 | +€1,784 | |
| Furniture and vehicles | 24 | €44,304 | €42,082 | -€2,221 | -5.0% |
| Other tangible fixed assets | 26 | €1,069,704 | €1,061,138 | -€8,566 | -0.8% |
| Financial fixed assets | 28 | €1,780 | €380 | -€1,400 | -78.7% |
| Current assets | 29/58 | €459,001 | €326,658 | -€132,343 | -28.8% |
| Amounts receivable within one year | 40/41 | €9,970 | €12,213 | +€2,243 | +22.5% |
| Trade receivables | 40 | €9,970 | €12,213 | +€2,243 | +22.5% |
| Cash at bank and in hand | 54/58 | €442,603 | €314,445 | -€128,158 | -29.0% |
| Deferred charges and accrued income | 490/1 | €6,427 | - | -€6,427 | |
| Total equity and liabilities | 10/49 | €1,574,788 | €1,432,043 | -€142,745 | -9.1% |
| Equity | 10/15 | €797,172 | €775,995 | -€21,178 | -2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €790,972 | €769,795 | -€21,178 | -2.7% |
| Tax-exempt reserves | 132 | €190,749 | €107,953 | -€82,796 | -43.4% |
| Distributable reserves | 133 | €600,223 | €661,842 | +€61,619 | +10.3% |
| Provisions and deferred taxes | 16 | €32,154 | €29,555 | -€2,599 | -8.1% |
| Deferred taxes | 168 | €32,154 | €29,555 | -€2,599 | -8.1% |
| Amounts payable | 17/49 | €745,462 | €626,493 | -€118,969 | -16.0% |
| Amounts payable after more than one year | 17 | €27,153 | - | -€27,153 | |
| Financial debts | 170/4 | €27,153 | - | -€27,153 | |
| Amounts payable within one year | 42/48 | €717,099 | €626,493 | -€90,605 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €40,362 | €27,153 | -€13,209 | -32.7% |
| Trade debts | 44 | €5,934 | €15,085 | +€9,151 | +154.2% |
| Suppliers | 440/4 | €5,934 | €15,085 | +€9,151 | +154.2% |
| Taxes, remuneration and social security | 45 | €31,947 | €20,526 | -€11,422 | -35.8% |
| Taxes | 450/3 | €31,947 | €20,526 | -€11,422 | -35.8% |
| Other amounts payable | 47/48 | €638,856 | €563,730 | -€75,126 | -11.8% |
| Accrued charges and deferred income | 492/3 | €1,210 | - | -€1,210 | |
| Non-recurring operating income | 76A | €216,858 | - | -€216,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,540 | €59,654 | +€4,114 | +7.4% |
| Other operating charges | 640/8 | €7,789 | €14,378 | +€6,589 | +84.6% |
| Gross operating margin | 9900 | €327,387 | €88,870 | -€238,517 | -72.9% |
| Operating profit (loss) | 9901 | €264,058 | €14,837 | -€249,221 | -94.4% |
| Financial income | 75/76B | €9,798 | €5,953 | -€3,844 | -39.2% |
| Recurring financial income | 75 | €9,798 | €5,953 | -€3,844 | -39.2% |
| Financial charges | 65/66B | €44,738 | €38,257 | -€6,481 | -14.5% |
| Recurring financial charges | 65 | €44,738 | €38,257 | -€6,481 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €229,118 | -€17,466 | -€246,584 | |
| Transfer from deferred taxes | 780 | €2,599 | €2,599 | = | 0.0% |
| Income taxes | 67/77 | €15,421 | €6,310 | -€9,111 | -59.1% |
| Profit (loss) for the period | 9904 | €216,295 | -€21,178 | -€237,473 | |
| Transfer from tax-exempt reserves | 789 | €7,796 | €82,796 | +€75,000 | +962.0% |
| Profit (loss) for the period to be appropriated | 9905 | €224,092 | €61,619 | -€162,473 | -72.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.