The Melting Box: what changed
The Melting Box
Largest movements
- Tangible fixed assets +€24,120
up €24,120 (+42.1%), from €57,295 to €81,415
- Receivables within one year -€8,203
down €8,203 (-38.1%), from €21,556 to €13,353
of which Trade receivables: -€6,251
- Cash +€6,454
up €6,454 (+8.4%), from €77,062 to €83,515
mainly Other debts (+€79,259) and Depreciation (+€18,132)
- Other debts +€79,259
up €79,259 (+567%), from €13,985 to €93,244
- Profit (loss) carried forward -€77,494
down €77,494 (-86.6%), from €89,507 to €12,013
- Debts after one year +€12,531
up €12,531 (+51.1%), from €24,522 to €37,053
- Current portion of long-term debt +€11,501
new in 2025: €11,501
- Short-term financial debts -€6,098
no longer reported in 2025 (was €6,098)
- Gross operating margin -€17,328
down €17,328 (-31.8%), from €54,518 to €37,189
- Depreciation +€8,905
up €8,905 (+96.5%), from €9,227 to €18,132
- Taxes -€5,464
down €5,464 (-58.3%), from €9,368 to €3,904
- Financial charges +€1,589
up €1,589 (+195%), from €814 to €2,403
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 | €155,913 | €178,283 | +€22,371 | +14.3% |
| Fixed assets | 21/28 | €57,295 | €81,415 | +€24,120 | +42.1% |
| Tangible fixed assets | 22/27 | €57,295 | €81,415 | +€24,120 | +42.1% |
| Furniture and vehicles | 24 | €57,295 | €81,415 | +€24,120 | +42.1% |
| Current assets | 29/58 | €98,618 | €96,869 | -€1,749 | -1.8% |
| Amounts receivable within one year | 40/41 | €21,556 | €13,353 | -€8,203 | -38.1% |
| Trade receivables | 40 | €11,604 | €5,353 | -€6,251 | -53.9% |
| Other amounts receivable | 41 | €9,953 | €8,000 | -€1,953 | -19.6% |
| Cash at bank and in hand | 54/58 | €77,062 | €83,515 | +€6,454 | +8.4% |
| Total equity and liabilities | 10/49 | €155,913 | €178,283 | +€22,371 | +14.3% |
| Equity | 10/15 | €91,507 | €14,013 | -€77,494 | -84.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,507 | €12,013 | -€77,494 | -86.6% |
| Amounts payable | 17/49 | €64,406 | €164,271 | +€99,865 | +155% |
| Amounts payable after more than one year | 17 | €24,522 | €37,053 | +€12,531 | +51.1% |
| Financial debts | 170/4 | €24,522 | €37,053 | +€12,531 | +51.1% |
| Amounts payable within one year | 42/48 | €39,883 | €127,218 | +€87,334 | +219% |
| Current portion of amounts payable after more than one year | 42 | - | €11,501 | +€11,501 | |
| Financial debts | 43 | €6,098 | - | -€6,098 | |
| Credit institutions | 430/8 | €6,098 | - | -€6,098 | |
| Trade debts | 44 | €878 | €885 | +€7 | +0.8% |
| Suppliers | 440/4 | €878 | €885 | +€7 | +0.8% |
| Taxes, remuneration and social security | 45 | €18,922 | €21,588 | +€2,666 | +14.1% |
| Taxes | 450/3 | €18,922 | €21,588 | +€2,666 | +14.1% |
| Other amounts payable | 47/48 | €13,985 | €93,244 | +€79,259 | +567% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,227 | €18,132 | +€8,905 | +96.5% |
| Other operating charges | 640/8 | €773 | €791 | +€18 | +2.3% |
| Gross operating margin | 9900 | €54,518 | €37,189 | -€17,328 | -31.8% |
| Operating profit (loss) | 9901 | €44,517 | €18,266 | -€26,251 | -59.0% |
| Financial income | 75/76B | - | €53 | +€53 | |
| Recurring financial income | 75 | - | €53 | +€53 | |
| Financial charges | 65/66B | €814 | €2,403 | +€1,589 | +195% |
| Recurring financial charges | 65 | €814 | €2,403 | +€1,589 | +195% |
| Profit (loss) for the period before taxes | 9903 | €43,703 | €15,917 | -€27,787 | -63.6% |
| Income taxes | 67/77 | €9,368 | €3,904 | -€5,464 | -58.3% |
| Profit (loss) for the period | 9904 | €34,335 | €12,013 | -€22,323 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,335 | €12,013 | -€22,323 | -65.0% |
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.