MELSTEEN: 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.
MELSTEEN
Largest movements
- Receivables within one year +€115,000
new in 2025: €115,000
- Cash -€46,148
down €46,148 (-85.6%), from €53,885 to €7,737
mainly Receivables within one year (-€115,000) and Tax, wage and social debts (-€20,844)
- Profit (loss) carried forward +€90,947
up €90,947 (+10.6%), from €857,600 to €948,547
- Tax, wage and social debts -€20,844
down €20,844 (-91.7%), from €22,719 to €1,875
- Gross operating margin +€34,250
up €34,250 (+39.0%), from €87,739 to €121,989
- Taxes +€8,735
up €8,735 (+40.0%), from €21,819 to €30,554
- Other operating charges -€2,087
down €2,087 (-72.0%), from €2,899 to €812
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 | €953,526 | €1,022,378 | +€68,852 | +7.2% |
| Fixed assets | 21/28 | €899,641 | €899,641 | = | 0.0% |
| Tangible fixed assets | 22/27 | €899,641 | €899,641 | = | 0.0% |
| Land and buildings | 22 | €899,641 | €899,641 | = | 0.0% |
| Current assets | 29/58 | €53,885 | €122,737 | +€68,852 | +127.8% |
| Amounts receivable within one year | 40/41 | - | €115,000 | +€115,000 | |
| Other amounts receivable | 41 | - | €115,000 | +€115,000 | |
| Cash at bank and in hand | 54/58 | €53,885 | €7,737 | -€46,148 | -85.6% |
| Total equity and liabilities | 10/49 | €953,526 | €1,022,378 | +€68,852 | +7.2% |
| Equity | 10/15 | €925,250 | €1,016,197 | +€90,947 | +9.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €857,600 | €948,547 | +€90,947 | +10.6% |
| Amounts payable | 17/49 | €28,275 | €6,180 | -€22,095 | -78.1% |
| Amounts payable within one year | 42/48 | €24,050 | €1,875 | -€22,175 | -92.2% |
| Trade debts | 44 | €1,331 | €0 | -€1,331 | -100.0% |
| Suppliers | 440/4 | €1,331 | €0 | -€1,331 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,719 | €1,875 | -€20,844 | -91.7% |
| Taxes | 450/3 | €22,719 | €1,875 | -€20,844 | -91.7% |
| Accrued charges and deferred income | 492/3 | €4,225 | €4,305 | +€80 | +1.9% |
| Other operating charges | 640/8 | €2,899 | €812 | -€2,087 | -72.0% |
| Gross operating margin | 9900 | €87,739 | €121,989 | +€34,250 | +39.0% |
| Operating profit (loss) | 9901 | €84,840 | €121,177 | +€36,337 | +42.8% |
| Financial income | 75/76B | - | €797 | +€797 | |
| Recurring financial income | 75 | - | €797 | +€797 | |
| Financial charges | 65/66B | €24 | €474 | +€449 | +1856.8% |
| Recurring financial charges | 65 | €24 | €474 | +€449 | +1856.8% |
| Profit (loss) for the period before taxes | 9903 | €84,816 | €121,501 | +€36,685 | +43.3% |
| Income taxes | 67/77 | €21,819 | €30,554 | +€8,735 | +40.0% |
| Profit (loss) for the period | 9904 | €62,997 | €90,947 | +€27,950 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,997 | €90,947 | +€27,950 | +44.4% |
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 6 October 2026 via checked.be.