MELPHAR: 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.
MELPHAR
Largest movements
- Intangible fixed assets -€66,800
down €66,800 (-31.5%), from €211,747 to €144,947
- Receivables within one year +€61,115
up €61,115 (+74.9%), from €81,638 to €142,753
of which Other amounts receivable: +€32,055
- Cash -€38,263
down €38,263 (-58.2%), from €65,770 to €27,507
mainly Debts after one year (-€97,322) and Receivables within one year (-€61,115)
- Stocks and contracts +€11,464
up €11,464 (+4.6%), from €250,605 to €262,068
- Debts after one year -€97,322
down €97,322 (-43.5%), from €223,681 to €126,359
- Reserves +€55,000
new in 2025: €55,000
- Trade debts -€39,001
down €39,001 (-26.7%), from €145,936 to €106,935
- Short-term financial debts +€21,552
up €21,552 (+37.8%), from €57,023 to €78,575
- Tax, wage and social debts +€16,297
up €16,297 (+53.1%), from €30,696 to €46,993
of which Taxes: +€24,034
- Staff costs -€97,635
down €97,635 (-68.0%), from €143,543 to €45,908
- Gross operating margin -€34,605
down €34,605 (-13.3%), from €259,485 to €224,880
- Taxes +€16,445
up €16,445 (+162.4%), from €10,124 to €26,569
- Other operating charges +€10,900
up €10,900 (+1600.3%), from €681 to €11,581
- Financial charges -€5,488
down €5,488 (-23.3%), from €23,585 to €18,097
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 | €622,867 | €583,824 | -€39,043 | -6.3% |
| Fixed assets | 21/28 | €216,197 | €148,268 | -€67,930 | -31.4% |
| Intangible fixed assets | 21 | €211,747 | €144,947 | -€66,800 | -31.5% |
| Tangible fixed assets | 22/27 | €4,450 | €3,321 | -€1,130 | -25.4% |
| Furniture and vehicles | 24 | €4,450 | €3,321 | -€1,130 | -25.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €406,670 | €435,557 | +€28,886 | +7.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €250,605 | €262,068 | +€11,464 | +4.6% |
| Stocks | 30/36 | €250,605 | €262,068 | +€11,464 | +4.6% |
| Amounts receivable within one year | 40/41 | €81,638 | €142,753 | +€61,115 | +74.9% |
| Trade receivables | 40 | €74,576 | €103,636 | +€29,061 | +39.0% |
| Other amounts receivable | 41 | €7,062 | €39,117 | +€32,055 | +453.9% |
| Cash at bank and in hand | 54/58 | €65,770 | €27,507 | -€38,263 | -58.2% |
| Deferred charges and accrued income | 490/1 | €8,657 | €3,228 | -€5,430 | -62.7% |
| Total equity and liabilities | 10/49 | €622,867 | €583,824 | -€39,043 | -6.3% |
| Equity | 10/15 | €71,436 | €127,080 | +€55,644 | +77.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €55,000 | +€55,000 | |
| Distributable reserves | 133 | - | €55,000 | +€55,000 | |
| Profit (loss) carried forward | 14 | €41,436 | €42,080 | +€644 | +1.6% |
| Amounts payable | 17/49 | €551,432 | €456,744 | -€94,687 | -17.2% |
| Amounts payable after more than one year | 17 | €223,681 | €126,359 | -€97,322 | -43.5% |
| Financial debts | 170/4 | €223,681 | €126,359 | -€97,322 | -43.5% |
| Amounts payable within one year | 42/48 | €327,751 | €330,385 | +€2,635 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €94,096 | €97,322 | +€3,227 | +3.4% |
| Financial debts | 43 | €57,023 | €78,575 | +€21,552 | +37.8% |
| Credit institutions | 430/8 | €57,023 | €78,575 | +€21,552 | +37.8% |
| Trade debts | 44 | €145,936 | €106,935 | -€39,001 | -26.7% |
| Suppliers | 440/4 | €145,936 | €106,935 | -€39,001 | -26.7% |
| Taxes, remuneration and social security | 45 | €30,696 | €46,993 | +€16,297 | +53.1% |
| Taxes | 450/3 | €15,847 | €39,881 | +€24,034 | +151.7% |
| Remuneration and social security | 454/9 | €14,848 | €7,112 | -€7,737 | -52.1% |
| Other amounts payable | 47/48 | €0 | €560 | +€560 | |
| Remuneration, social security and pensions | 62 | €143,543 | €45,908 | -€97,635 | -68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,182 | €67,930 | -€252 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €510 | - | -€510 | |
| Other operating charges | 640/8 | €681 | €11,581 | +€10,900 | +1600.3% |
| Gross operating margin | 9900 | €259,485 | €224,880 | -€34,605 | -13.3% |
| Operating profit (loss) | 9901 | €46,569 | €99,462 | +€52,893 | +113.6% |
| Financial income | 75/76B | €2,311 | €1,648 | -€663 | -28.7% |
| Recurring financial income | 75 | €2,311 | €1,648 | -€663 | -28.7% |
| Financial charges | 65/66B | €23,585 | €18,097 | -€5,488 | -23.3% |
| Recurring financial charges | 65 | €23,585 | €18,097 | -€5,488 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €25,295 | €83,013 | +€57,719 | +228.2% |
| Income taxes | 67/77 | €10,124 | €26,569 | +€16,445 | +162.4% |
| Profit (loss) for the period | 9904 | €15,171 | €56,444 | +€41,273 | +272.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,171 | €56,444 | +€41,273 | +272.1% |
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.