MELSEL: 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.
MELSEL
Largest movements
- Receivables within one year -€18,188
down €18,188 (-18.0%), from €101,003 to €82,815
of which Trade receivables: -€29,861
- Financial fixed assets +€5,000
up €5,000 (+100.0%), from €5,000 to €10,000
- Tangible fixed assets -€3,308
down €3,308 (-95.4%), from €3,467 to €159
of which Furniture and vehicles: -€2,568
- Deferred charges and accrued income -€1,860
down €1,860 (-71.8%), from €2,592 to €731
- Trade debts -€24,188
down €24,188 (-77.6%), from €31,171 to €6,983
- Debts after one year -€7,415
down €7,415 (-50.7%), from €14,618 to €7,203
- Tax, wage and social debts +€7,017
up €7,017 (+20.7%), from €33,823 to €40,840
of which Taxes: +€10,604
- Profit (loss) carried forward +€5,510
up €5,510 (+46.5%), from €11,859 to €17,369
- Gross operating margin +€63,960
up €63,960 (+296.2%), from €21,590 to €85,550
- Staff costs +€31,641
up €31,641 (+79.4%), from €39,872 to €71,513
- Other operating charges -€4,627
down €4,627 (-64.6%), from €7,165 to €2,538
- Depreciation -€3,872
down €3,872 (-53.9%), from €7,179 to €3,308
- Taxes +€2,183
new in 2025: €2,183
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,062 | €93,705 | -€18,356 | -16.4% |
| Fixed assets | 21/28 | €8,467 | €10,159 | +€1,692 | +20.0% |
| Tangible fixed assets | 22/27 | €3,467 | €159 | -€3,308 | -95.4% |
| Plant, machinery and equipment | 23 | €899 | €159 | -€740 | -82.3% |
| Furniture and vehicles | 24 | €2,568 | - | -€2,568 | |
| Financial fixed assets | 28 | €5,000 | €10,000 | +€5,000 | +100.0% |
| Current assets | 29/58 | €103,595 | €83,546 | -€20,048 | -19.4% |
| Amounts receivable within one year | 40/41 | €101,003 | €82,815 | -€18,188 | -18.0% |
| Trade receivables | 40 | €36,216 | €6,354 | -€29,861 | -82.5% |
| Other amounts receivable | 41 | €64,787 | €76,461 | +€11,673 | +18.0% |
| Deferred charges and accrued income | 490/1 | €2,592 | €731 | -€1,860 | -71.8% |
| Total equity and liabilities | 10/49 | €112,062 | €93,705 | -€18,356 | -16.4% |
| Equity | 10/15 | €20,859 | €26,369 | +€5,510 | +26.4% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,859 | €17,369 | +€5,510 | +46.5% |
| Amounts payable | 17/49 | €91,202 | €67,336 | -€23,866 | -26.2% |
| Amounts payable after more than one year | 17 | €14,618 | €7,203 | -€7,415 | -50.7% |
| Financial debts | 170/4 | €14,618 | €7,203 | -€7,415 | -50.7% |
| Amounts payable within one year | 42/48 | €76,584 | €60,133 | -€16,451 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €6,980 | €7,415 | +€435 | +6.2% |
| Financial debts | 43 | €4,611 | €4,895 | +€284 | +6.2% |
| Credit institutions | 430/8 | €4,611 | €4,895 | +€284 | +6.2% |
| Trade debts | 44 | €31,171 | €6,983 | -€24,188 | -77.6% |
| Suppliers | 440/4 | €31,171 | €6,983 | -€24,188 | -77.6% |
| Taxes, remuneration and social security | 45 | €33,823 | €40,840 | +€7,017 | +20.7% |
| Taxes | 450/3 | €28,091 | €38,695 | +€10,604 | +37.7% |
| Remuneration and social security | 454/9 | €5,732 | €2,146 | -€3,587 | -62.6% |
| Remuneration, social security and pensions | 62 | €39,872 | €71,513 | +€31,641 | +79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,179 | €3,308 | -€3,872 | -53.9% |
| Other operating charges | 640/8 | €7,165 | €2,538 | -€4,627 | -64.6% |
| Gross operating margin | 9900 | €21,590 | €85,550 | +€63,960 | +296.2% |
| Operating profit (loss) | 9901 | -€32,627 | €8,191 | +€40,818 | |
| Financial income | 75/76B | €4,032 | €3,827 | -€204 | -5.1% |
| Recurring financial income | 75 | €4,032 | €3,827 | -€204 | -5.1% |
| Financial charges | 65/66B | €3,228 | €4,325 | +€1,097 | +34.0% |
| Recurring financial charges | 65 | €3,228 | €4,325 | +€1,097 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,823 | €7,693 | +€39,516 | |
| Income taxes | 67/77 | - | €2,183 | +€2,183 | |
| Profit (loss) for the period | 9904 | -€31,823 | €5,510 | +€37,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,823 | €5,510 | +€37,333 |
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.