MELZAGERS: 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.
MELZAGERS
Largest movements
- Cash +€51,874
up €51,874 (+75.3%), from €68,917 to €120,791
mainly Net result for the year (+€62,911) and Depreciation (+€8,830)
- Receivables within one year +€13,110
up €13,110 (+52.7%), from €24,873 to €37,983
- Tangible fixed assets -€6,293
down €6,293 (-17.5%), from €36,013 to €29,721
- Reserves +€62,911
up €62,911 (+115.2%), from €54,589 to €117,500
- Debts after one year -€6,827
down €6,827 (-27.0%), from €25,329 to €18,502
- Tax, wage and social debts +€6,662
up €6,662 (+39.2%), from €16,993 to €23,655
of which Taxes: +€5,412
- Other debts -€6,003
down €6,003 (-25.0%), from €24,011 to €18,008
- Gross operating margin +€15,912
up €15,912 (+21.6%), from €73,671 to €89,583
- Depreciation +€4,475
up €4,475 (+102.8%), from €4,355 to €8,830
- Taxes +€2,354
up €2,354 (+17.1%), from €13,761 to €16,114
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 | €130,442 | €189,138 | +€58,695 | +45.0% |
| Fixed assets | 21/28 | €36,013 | €29,721 | -€6,293 | -17.5% |
| Tangible fixed assets | 22/27 | €36,013 | €29,721 | -€6,293 | -17.5% |
| Furniture and vehicles | 24 | €36,013 | €29,721 | -€6,293 | -17.5% |
| Current assets | 29/58 | €94,429 | €159,417 | +€64,988 | +68.8% |
| Amounts receivable within one year | 40/41 | €24,873 | €37,983 | +€13,110 | +52.7% |
| Trade receivables | 40 | €24,873 | €37,983 | +€13,110 | +52.7% |
| Cash at bank and in hand | 54/58 | €68,917 | €120,791 | +€51,874 | +75.3% |
| Deferred charges and accrued income | 490/1 | €639 | €643 | +€4 | +0.5% |
| Total equity and liabilities | 10/49 | €130,442 | €189,138 | +€58,695 | +45.0% |
| Equity | 10/15 | €57,589 | €120,500 | +€62,911 | +109.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €54,589 | €117,500 | +€62,911 | +115.2% |
| Distributable reserves | 133 | €54,589 | €117,500 | +€62,911 | +115.2% |
| Amounts payable | 17/49 | €72,854 | €68,638 | -€4,216 | -5.8% |
| Amounts payable after more than one year | 17 | €25,329 | €18,502 | -€6,827 | -27.0% |
| Financial debts | 170/4 | €25,329 | €18,502 | -€6,827 | -27.0% |
| Amounts payable within one year | 42/48 | €47,525 | €50,136 | +€2,611 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €6,521 | €6,827 | +€306 | +4.7% |
| Financial debts | 43 | - | €1,646 | +€1,646 | |
| Credit institutions | 430/8 | - | €1,646 | +€1,646 | |
| Taxes, remuneration and social security | 45 | €16,993 | €23,655 | +€6,662 | +39.2% |
| Taxes | 450/3 | €16,993 | €22,405 | +€5,412 | +31.9% |
| Remuneration and social security | 454/9 | - | €1,250 | +€1,250 | |
| Other amounts payable | 47/48 | €24,011 | €18,008 | -€6,003 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,355 | €8,830 | +€4,475 | +102.8% |
| Other operating charges | 640/8 | €50 | €0 | -€50 | -100.0% |
| Gross operating margin | 9900 | €73,671 | €89,583 | +€15,912 | +21.6% |
| Operating profit (loss) | 9901 | €69,266 | €80,753 | +€11,487 | +16.6% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €917 | €1,731 | +€815 | +88.9% |
| Recurring financial charges | 65 | €917 | €1,731 | +€815 | +88.9% |
| Profit (loss) for the period before taxes | 9903 | €68,349 | €79,025 | +€10,676 | +15.6% |
| Income taxes | 67/77 | €13,761 | €16,114 | +€2,354 | +17.1% |
| Profit (loss) for the period | 9904 | €54,589 | €62,911 | +€8,322 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,589 | €62,911 | +€8,322 | +15.2% |
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 29 September 2026 via checked.be.