Melrose: what changed
Two financial 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.
Melrose
Largest movements
- Receivables within one year +€9,918
up €9,918 (+428.7%), from €2,313 to €12,231
of which Other amounts receivable: +€11,163
- Tangible fixed assets -€5,448
down €5,448 (-13.8%), from €39,335 to €33,888
of which Furniture and vehicles: -€3,591
- Stocks and contracts +€4,605
up €4,605 (+121.0%), from €3,806 to €8,411
- Cash -€3,513
down €3,513 (-9.9%), from €35,499 to €31,985
mainly Trade debts (-€10,265) and Receivables within one year (-€9,918)
- Trade debts -€10,265
down €10,265 (-43.1%), from €23,830 to €13,565
- Reserves +€8,303
up €8,303 (+54.6%), from €15,200 to €23,503
- Tax, wage and social debts +€6,929
up €6,929 (+36.8%), from €18,841 to €25,770
of which Remuneration and social security: +€7,000
- Accrued charges and deferred income +€1,156
up €1,156 (+122.4%), from €944 to €2,100
- Other debts -€957
down €957 (-13.1%), from €7,316 to €6,359
- Staff costs +€61,048
up €61,048 (+53.2%), from €114,858 to €175,906
- Gross operating margin +€60,121
up €60,121 (+42.2%), from €142,543 to €202,664
- Other operating charges +€2,251
up €2,251 (+111.7%), from €2,015 to €4,265
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 | €87,427 | €93,246 | +€5,819 | +6.7% |
| Fixed assets | 21/28 | €45,485 | €40,038 | -€5,448 | -12.0% |
| Tangible fixed assets | 22/27 | €39,335 | €33,888 | -€5,448 | -13.8% |
| Plant, machinery and equipment | 23 | €24,270 | €22,841 | -€1,429 | -5.9% |
| Furniture and vehicles | 24 | €11,624 | €8,033 | -€3,591 | -30.9% |
| Other tangible fixed assets | 26 | €3,442 | €3,014 | -€428 | -12.4% |
| Financial fixed assets | 28 | €6,150 | €6,150 | = | 0.0% |
| Current assets | 29/58 | €41,942 | €53,208 | +€11,266 | +26.9% |
| Stocks and contracts in progress | 3 | €3,806 | €8,411 | +€4,605 | +121.0% |
| Stocks | 30/36 | €3,806 | €8,411 | +€4,605 | +121.0% |
| Amounts receivable within one year | 40/41 | €2,313 | €12,231 | +€9,918 | +428.7% |
| Trade receivables | 40 | €2,313 | €1,068 | -€1,246 | -53.8% |
| Other amounts receivable | 41 | €0 | €11,163 | +€11,163 | |
| Cash at bank and in hand | 54/58 | €35,499 | €31,985 | -€3,513 | -9.9% |
| Deferred charges and accrued income | 490/1 | €324 | €581 | +€257 | +79.4% |
| Total equity and liabilities | 10/49 | €87,427 | €93,246 | +€5,819 | +6.7% |
| Equity | 10/15 | €35,200 | €43,503 | +€8,303 | +23.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,200 | €23,503 | +€8,303 | +54.6% |
| Distributable reserves | 133 | €15,200 | €23,503 | +€8,303 | +54.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,227 | €49,743 | -€2,484 | -4.8% |
| Amounts payable within one year | 42/48 | €51,283 | €47,643 | -€3,640 | -7.1% |
| Trade debts | 44 | €23,830 | €13,565 | -€10,265 | -43.1% |
| Suppliers | 440/4 | €23,830 | €13,565 | -€10,265 | -43.1% |
| Advances received on contracts in progress | 46 | €1,295 | €1,949 | +€654 | +50.5% |
| Taxes, remuneration and social security | 45 | €18,841 | €25,770 | +€6,929 | +36.8% |
| Taxes | 450/3 | €7,313 | €7,243 | -€70 | -1.0% |
| Remuneration and social security | 454/9 | €11,528 | €18,528 | +€7,000 | +60.7% |
| Other amounts payable | 47/48 | €7,316 | €6,359 | -€957 | -13.1% |
| Accrued charges and deferred income | 492/3 | €944 | €2,100 | +€1,156 | +122.4% |
| Remuneration, social security and pensions | 62 | €114,858 | €175,906 | +€61,048 | +53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,659 | €8,128 | +€1,469 | +22.1% |
| Other operating charges | 640/8 | €2,015 | €4,265 | +€2,251 | +111.7% |
| Gross operating margin | 9900 | €142,543 | €202,664 | +€60,121 | +42.2% |
| Operating profit (loss) | 9901 | €19,011 | €14,365 | -€4,646 | -24.4% |
| Financial income | 75/76B | €39 | €362 | +€323 | +821.0% |
| Recurring financial income | 75 | €39 | €362 | +€323 | +821.0% |
| Financial charges | 65/66B | €1,666 | €1,981 | +€316 | +19.0% |
| Recurring financial charges | 65 | €1,666 | €1,981 | +€316 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €17,385 | €12,746 | -€4,639 | -26.7% |
| Income taxes | 67/77 | €3,150 | €2,778 | -€373 | -11.8% |
| Profit (loss) for the period | 9904 | €14,235 | €9,969 | -€4,266 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,235 | €9,969 | -€4,266 | -30.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.