Tom Melotte: what changed
Two financial 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.
Tom Melotte
Largest movements
- Receivables within one year +€36,537
up €36,537 (+114%), from €31,944 to €68,481
of which Other amounts receivable: +€38,388
- Cash +€23,129
up €23,129 (+91.7%), from €25,214 to €48,343
mainly Net result for the year (+€58,481) and Depreciation (+€19,652)
- Tangible fixed assets -€19,652
down €19,652 (-23.6%), from €83,268 to €63,616
of which Furniture and vehicles: -€16,664
- Reserves +€58,481
up €58,481 (+181%), from €32,326 to €90,807
- Debts after one year -€21,049
down €21,049 (-43.1%), from €48,807 to €27,758
- Tax, wage and social debts +€2,507
up €2,507 (+11.5%), from €21,817 to €24,325
- Gross operating margin +€19,497
up €19,497 (+25.9%), from €75,377 to €94,874
- Depreciation +€5,493
up €5,493 (+38.8%), from €14,159 to €19,652
- Taxes +€3,571
up €3,571 (+28.5%), from €12,552 to €16,124
- Financial income +€2,521
up €2,521 (+688%), from €366 to €2,887
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.
Derived cash bridge
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 | €140,512 | €180,646 | +€40,134 | +28.6% |
| Fixed assets | 21/28 | €83,268 | €63,616 | -€19,652 | -23.6% |
| Tangible fixed assets | 22/27 | €83,268 | €63,616 | -€19,652 | -23.6% |
| Plant, machinery and equipment | 23 | €4,566 | €3,315 | -€1,251 | -27.4% |
| Furniture and vehicles | 24 | €70,342 | €53,679 | -€16,664 | -23.7% |
| Other tangible fixed assets | 26 | €8,359 | €6,622 | -€1,737 | -20.8% |
| Current assets | 29/58 | €57,244 | €117,030 | +€59,786 | +104% |
| Amounts receivable within one year | 40/41 | €31,944 | €68,481 | +€36,537 | +114% |
| Trade receivables | 40 | €2,596 | €745 | -€1,851 | -71.3% |
| Other amounts receivable | 41 | €29,348 | €67,737 | +€38,388 | +131% |
| Cash at bank and in hand | 54/58 | €25,214 | €48,343 | +€23,129 | +91.7% |
| Deferred charges and accrued income | 490/1 | €86 | €206 | +€119 | +138% |
| Total equity and liabilities | 10/49 | €140,512 | €180,646 | +€40,134 | +28.6% |
| Equity | 10/15 | €47,326 | €105,807 | +€58,481 | +124% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €32,326 | €90,807 | +€58,481 | +181% |
| Distributable reserves | 133 | €32,326 | €90,807 | +€58,481 | +181% |
| Amounts payable | 17/49 | €93,185 | €74,838 | -€18,347 | -19.7% |
| Amounts payable after more than one year | 17 | €48,807 | €27,758 | -€21,049 | -43.1% |
| Financial debts | 170/4 | €48,807 | €27,758 | -€21,049 | -43.1% |
| Amounts payable within one year | 42/48 | €43,082 | €47,063 | +€3,981 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €20,071 | €21,049 | +€978 | +4.9% |
| Trade debts | 44 | €1,193 | €1,690 | +€496 | +41.6% |
| Suppliers | 440/4 | €1,193 | €1,690 | +€496 | +41.6% |
| Taxes, remuneration and social security | 45 | €21,817 | €24,325 | +€2,507 | +11.5% |
| Taxes | 450/3 | €21,817 | €24,325 | +€2,507 | +11.5% |
| Accrued charges and deferred income | 492/3 | €1,297 | €17 | -€1,280 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,159 | €19,652 | +€5,493 | +38.8% |
| Other operating charges | 640/8 | €958 | €526 | -€431 | -45.0% |
| Non-recurring operating charges | 66A | €12,700 | €0 | -€12,700 | -100% |
| Gross operating margin | 9900 | €75,377 | €94,874 | +€19,497 | +25.9% |
| Operating profit (loss) | 9901 | €47,561 | €74,696 | +€27,135 | +57.1% |
| Financial income | 75/76B | €366 | €2,887 | +€2,521 | +688% |
| Recurring financial income | 75 | €366 | €2,887 | +€2,521 | +688% |
| Financial charges | 65/66B | €3,049 | €2,979 | -€70 | -2.3% |
| Recurring financial charges | 65 | €3,049 | €2,979 | -€70 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €44,879 | €74,605 | +€29,726 | +66.2% |
| Income taxes | 67/77 | €12,552 | €16,124 | +€3,571 | +28.5% |
| Profit (loss) for the period | 9904 | €32,326 | €58,481 | +€26,155 | +80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,326 | €58,481 | +€26,155 | +80.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.