Melvin WILLEMS: what changed
Melvin WILLEMS
Largest movements
- Receivables within one year -€13,490
down €13,490 (-10.8%), from €125,206 to €111,716
of which Trade receivables: -€20,139
- Stocks and contracts +€11,129
up €11,129 (+44.2%), from €25,167 to €36,296
- Cash +€6,411
new in 2025: €6,411
mainly Receivables within one year (+€13,490) and Debts after one year (+€12,427)
- Tangible fixed assets -€1,792
down €1,792 (-53.0%), from €3,383 to €1,590
of which Plant, machinery and equipment: -€3,170
- Tax, wage and social debts -€15,678
down €15,678 (-42.6%), from €36,782 to €21,104
- Debts after one year +€12,427
up €12,427 (+272%), from €4,573 to €17,000
- Profit (loss) carried forward +€9,341
new in 2025: €9,341
- Trade debts -€7,237
down €7,237 (-19.5%), from €37,099 to €29,862
- Short-term financial debts +€2,971
up €2,971 (+43.1%), from €6,893 to €9,863
- Gross operating margin -€7,266
down €7,266 (-34.6%), from €20,999 to €13,733
- Taxes -€2,223
down €2,223 (-36.1%), from €6,163 to €3,940
- Depreciation +€455
up €455 (+34.0%), from €1,337 to €1,792
- Financial charges +€350
up €350 (+16.5%), from €2,128 to €2,478
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,478 | €160,050 | +€572 | +0.4% |
| Fixed assets | 21/28 | €3,383 | €1,590 | -€1,792 | -53.0% |
| Tangible fixed assets | 22/27 | €3,383 | €1,590 | -€1,792 | -53.0% |
| Plant, machinery and equipment | 23 | €3,383 | €212 | -€3,170 | -93.7% |
| Furniture and vehicles | 24 | - | €1,378 | +€1,378 | |
| Current assets | 29/58 | €156,095 | €158,460 | +€2,364 | +1.5% |
| Stocks and contracts in progress | 3 | €25,167 | €36,296 | +€11,129 | +44.2% |
| Stocks | 30/36 | €25,167 | €36,296 | +€11,129 | +44.2% |
| Amounts receivable within one year | 40/41 | €125,206 | €111,716 | -€13,490 | -10.8% |
| Trade receivables | 40 | €51,941 | €31,802 | -€20,139 | -38.8% |
| Other amounts receivable | 41 | €73,265 | €79,914 | +€6,649 | +9.1% |
| Current investments | 50/53 | €1,277 | - | -€1,277 | |
| Cash at bank and in hand | 54/58 | - | €6,411 | +€6,411 | |
| Deferred charges and accrued income | 490/1 | €4,446 | €4,037 | -€409 | -9.2% |
| Total equity and liabilities | 10/49 | €159,478 | €160,050 | +€572 | +0.4% |
| Equity | 10/15 | €68,307 | €77,648 | +€9,341 | +13.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €66,307 | €66,307 | = | 0.0% |
| Distributable reserves | 133 | €66,307 | €66,307 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €9,341 | +€9,341 | |
| Amounts payable | 17/49 | €91,171 | €82,402 | -€8,769 | -9.6% |
| Amounts payable after more than one year | 17 | €4,573 | €17,000 | +€12,427 | +272% |
| Financial debts | 170/4 | €4,573 | €17,000 | +€12,427 | +272% |
| Amounts payable within one year | 42/48 | €86,598 | €65,402 | -€21,196 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €5,824 | €4,573 | -€1,251 | -21.5% |
| Financial debts | 43 | €6,893 | €9,863 | +€2,971 | +43.1% |
| Credit institutions | 430/8 | €6,893 | €9,863 | +€2,971 | +43.1% |
| Trade debts | 44 | €37,099 | €29,862 | -€7,237 | -19.5% |
| Suppliers | 440/4 | €37,099 | €29,862 | -€7,237 | -19.5% |
| Taxes, remuneration and social security | 45 | €36,782 | €21,104 | -€15,678 | -42.6% |
| Taxes | 450/3 | €36,782 | €21,104 | -€15,678 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,337 | €1,792 | +€455 | +34.0% |
| Other operating charges | 640/8 | €321 | €330 | +€9 | +2.9% |
| Non-recurring operating charges | 66A | €58 | €226 | +€168 | +290% |
| Gross operating margin | 9900 | €20,999 | €13,733 | -€7,266 | -34.6% |
| Operating profit (loss) | 9901 | €19,283 | €11,385 | -€7,898 | -41.0% |
| Financial income | 75/76B | €4,470 | €4,375 | -€95 | -2.1% |
| Recurring financial income | 75 | €4,470 | €4,375 | -€95 | -2.1% |
| Financial charges | 65/66B | €2,128 | €2,478 | +€350 | +16.5% |
| Recurring financial charges | 65 | €2,128 | €2,478 | +€350 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €21,625 | €13,282 | -€8,343 | -38.6% |
| Income taxes | 67/77 | €6,163 | €3,940 | -€2,223 | -36.1% |
| Profit (loss) for the period | 9904 | €15,462 | €9,341 | -€6,120 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,462 | €9,341 | -€6,120 | -39.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.