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Line	Code	2024	2025	Change	%
Total assets	20/58	€948,750	€744,237	-€204,512	-21.6%
Fixed assets	21/28	€300	€2,166	+€1,866	+622%
Tangible fixed assets	22/27	€0	€1,866	+€1,866
Furniture and vehicles	24	€0	€1,866	+€1,866
Financial fixed assets	28	€300	€300	=	0.0%
Other financial fixed assets	284/8	€300	€300	=	0.0%
Amounts receivable and cash guarantees	285/8	€300	€300	=	0.0%
Current assets	29/58	€948,450	€742,071	-€206,379	-21.8%
Stocks and contracts in progress	3	€0	€0	=
Amounts receivable within one year	40/41	€725,224	€681,893	-€43,331	-6.0%
Trade receivables	40	€441,981	€394,587	-€47,394	-10.7%
Other amounts receivable	41	€283,243	€287,305	+€4,062	+1.4%
Cash at bank and in hand	54/58	€201,820	€44,271	-€157,550	-78.1%
Deferred charges and accrued income	490/1	€21,406	€15,908	-€5,498	-25.7%
Total equity and liabilities	10/49	€948,750	€744,237	-€204,512	-21.6%
Equity	10/15	€158,214	€85,760	-€72,454	-45.8%
Contributions	10/11	€180,000	€180,000	=	0.0%
Profit (loss) carried forward	14	-€21,786	-€94,240	-€72,454	-333%
Provisions and deferred taxes	16	-	€31,474	+€31,474
Provisions for liabilities and charges	160/5	-	€31,474	+€31,474
Other liabilities and charges	164/5	-	€31,474	+€31,474
Amounts payable	17/49	€790,536	€627,003	-€163,533	-20.7%
Amounts payable within one year	42/48	€790,536	€625,389	-€165,147	-20.9%
Financial debts	43	€456,323	€383,359	-€72,964	-16.0%
Credit institutions	430/8	€456,323	€383,359	-€72,964	-16.0%
Trade debts	44	€150,795	€79,706	-€71,089	-47.1%
Suppliers	440/4	€150,795	€79,706	-€71,089	-47.1%
Taxes, remuneration and social security	45	€183,418	€162,324	-€21,094	-11.5%
Taxes	450/3	€19,619	€50,190	+€30,572	+156%
Remuneration and social security	454/9	€163,799	€112,134	-€51,665	-31.5%
Other amounts payable	47/48	€0	-	=
Accrued charges and deferred income	492/3	€0	€1,614	+€1,614
Operating income	70/76A	€2,516,637	€2,086,557	-€430,080	-17.1%
Turnover	70	€2,515,037	€2,070,684	-€444,353	-17.7%
Other operating income	74	€1,600	€15,873	+€14,273	+892%
Non-recurring operating income	76A	€0	-	=
Operating charges	60/66A	€2,426,426	€2,112,073	-€314,353	-13.0%
Goods for resale, raw materials and consumables	60	€449,238	€458,117	+€8,878	+2.0%
Purchases	600/8	€449,238	€458,117	+€8,878	+2.0%
Services and other goods	61	€224,891	€163,197	-€61,695	-27.4%
Remuneration, social security and pensions	62	€1,528,803	€1,243,589	-€285,214	-18.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€606	€388	-€219	-36.1%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)	631/4	-	€25,371	+€25,371
Provisions for liabilities and charges: additions (uses and reversals)	635/8	-	€31,474	+€31,474
Other operating charges	640/8	€222,886	€189,937	-€32,949	-14.8%
Non-recurring operating charges	66A	€0	-	=
Operating profit (loss)	9901	€90,211	-€25,516	-€115,727
Financial income	75/76B	€31,370	€5,442	-€25,928	-82.7%
Recurring financial income	75	€31,370	€5,442	-€25,928	-82.7%
Income from current assets	751	€19,247	€5,441	-€13,806	-71.7%
Other financial income	752/9	€12,123	€1	-€12,122	-100.0%
Financial charges	65/66B	€46,727	€49,014	+€2,287	+4.9%
Recurring financial charges	65	€46,727	€49,014	+€2,287	+4.9%
Debt charges	650	€44,177	€47,982	+€3,804	+8.6%
Other financial charges	652/9	€2,550	€1,033	-€1,517	-59.5%
Profit (loss) for the period before taxes	9903	€74,855	-€69,088	-€143,943
Income taxes	67/77	€34,114	€3,365	-€30,749	-90.1%
Taxes	670/3	€34,114	€3,365	-€30,749	-90.1%
Profit (loss) for the period	9904	€40,740	-€72,454	-€113,194
Profit (loss) for the period to be appropriated	9905	€40,740	-€72,454	-€113,194

MERCOR: value indication

MERCOR: value indication

Position among the sector peers

What moved between 2024 and 2025

Largest movements

Change in the result, 2024 to 2025

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

Capitalised earnings

Your EBITDA multiple

Limits of the indication

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