MELSTEP: 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.
MELSTEP
Largest movements
- Cash +€28,779
up €28,779 (+499%), from €5,766 to €34,545
mainly Depreciation (+€18,804) and Other debts (+€17,048)
- Receivables within one year -€14,534
down €14,534 (-98.6%), from €14,740 to €206
- Tangible fixed assets -€6,154
down €6,154 (-2.1%), from €289,080 to €282,926
of which Land and buildings: -€3,236
- Other debts +€17,048
up €17,048 (+1,285%), from €1,327 to €18,375
- Reserves -€4,914
down €4,914 (-2.0%), from €241,297 to €236,383
of which Distributable reserves: -€4,914
- Gross operating margin +€9,907
up €9,907 (+84.6%), from €11,715 to €21,622
- Depreciation +€3,702
up €3,702 (+24.5%), from €15,102 to €18,804
- Provisions +€1,500
no longer reported in 2025 (was -€1,500)
- Financial charges +€538
up €538 (+141%), from €382 to €920
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 | €310,956 | €321,254 | +€10,298 | +3.3% |
| Fixed assets | 21/28 | €289,080 | €282,926 | -€6,154 | -2.1% |
| Tangible fixed assets | 22/27 | €289,080 | €282,926 | -€6,154 | -2.1% |
| Land and buildings | 22 | €281,300 | €278,064 | -€3,236 | -1.2% |
| Plant, machinery and equipment | 23 | €482 | €241 | -€241 | -50.0% |
| Furniture and vehicles | 24 | €7,298 | €4,621 | -€2,677 | -36.7% |
| Current assets | 29/58 | €21,876 | €38,327 | +€16,452 | +75.2% |
| Amounts receivable within one year | 40/41 | €14,740 | €206 | -€14,534 | -98.6% |
| Other amounts receivable | 41 | €14,740 | €206 | -€14,534 | -98.6% |
| Cash at bank and in hand | 54/58 | €5,766 | €34,545 | +€28,779 | +499% |
| Deferred charges and accrued income | 490/1 | €1,369 | €3,576 | +€2,207 | +161% |
| Total equity and liabilities | 10/49 | €310,956 | €321,254 | +€10,298 | +3.3% |
| Equity | 10/15 | €306,297 | €301,383 | -€4,914 | -1.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €241,297 | €236,383 | -€4,914 | -2.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €234,797 | €229,883 | -€4,914 | -2.1% |
| Amounts payable | 17/49 | €4,659 | €19,871 | +€15,212 | +327% |
| Amounts payable within one year | 42/48 | €4,644 | €19,856 | +€15,212 | +328% |
| Trade debts | 44 | €3,317 | €1,481 | -€1,836 | -55.4% |
| Suppliers | 440/4 | €3,317 | €1,481 | -€1,836 | -55.4% |
| Other amounts payable | 47/48 | €1,327 | €18,375 | +€17,048 | +1,285% |
| Accrued charges and deferred income | 492/3 | €15 | €15 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,102 | €18,804 | +€3,702 | +24.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,500 | - | +€1,500 | |
| Other operating charges | 640/8 | €6,326 | €6,518 | +€192 | +3.0% |
| Gross operating margin | 9900 | €11,715 | €21,622 | +€9,907 | +84.6% |
| Operating profit (loss) | 9901 | -€8,213 | -€3,700 | +€4,513 | +54.9% |
| Financial charges | 65/66B | €382 | €920 | +€538 | +141% |
| Recurring financial charges | 65 | €382 | €920 | +€538 | +141% |
| Profit (loss) for the period before taxes | 9903 | -€8,596 | -€4,620 | +€3,975 | +46.2% |
| Income taxes | 67/77 | €260 | €294 | +€34 | +13.2% |
| Profit (loss) for the period | 9904 | -€8,855 | -€4,914 | +€3,941 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,855 | -€4,914 | +€3,941 | +44.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.