A.MERTENS: 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.
A.MERTENS
Largest movements
- Current investments +€110,000
new in 2025: €110,000
- Cash -€84,543
down €84,543 (-63.5%), from €133,192 to €48,649
mainly Current investments (-€110,000) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€69,463
up €69,463 (+128%), from €54,317 to €123,780
of which Other amounts receivable: +€68,620
- Financial fixed assets -€11,300
down €11,300 (-4.8%), from €237,300 to €226,000
- Other debts +€98,619
up €98,619 (+6,974%), from €1,414 to €100,033
- Debts after one year -€22,430
down €22,430 (-14.1%), from €159,380 to €136,950
- Reserves +€12,587
up €12,587 (+5.5%), from €227,273 to €239,860
- Tax, wage and social debts -€5,197
down €5,197 (-47.3%), from €10,978 to €5,781
- Financial income +€20,867
up €20,867 (+44.8%), from €46,529 to €67,396
- Taxes -€7,174
down €7,174 (-26.9%), from €26,705 to €19,531
- Gross operating margin -€6,302
down €6,302 (-8.6%), from €72,957 to €66,655
- Depreciation -€4,739
down €4,739 (-92.9%), from €5,103 to €364
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 | €427,663 | €511,249 | +€83,586 | +19.5% |
| Fixed assets | 21/28 | €238,974 | €227,310 | -€11,664 | -4.9% |
| Tangible fixed assets | 22/27 | €1,674 | €1,310 | -€364 | -21.7% |
| Furniture and vehicles | 24 | €1,674 | €1,310 | -€364 | -21.7% |
| Financial fixed assets | 28 | €237,300 | €226,000 | -€11,300 | -4.8% |
| Current assets | 29/58 | €188,689 | €283,938 | +€95,249 | +50.5% |
| Amounts receivable within one year | 40/41 | €54,317 | €123,780 | +€69,463 | +128% |
| Trade receivables | 40 | €9,317 | €10,159 | +€842 | +9.0% |
| Other amounts receivable | 41 | €45,000 | €113,620 | +€68,620 | +152% |
| Current investments | 50/53 | - | €110,000 | +€110,000 | |
| Cash at bank and in hand | 54/58 | €133,192 | €48,649 | -€84,543 | -63.5% |
| Deferred charges and accrued income | 490/1 | €1,180 | €1,509 | +€329 | +27.9% |
| Total equity and liabilities | 10/49 | €427,663 | €511,249 | +€83,586 | +19.5% |
| Equity | 10/15 | €232,273 | €244,860 | +€12,587 | +5.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €227,273 | €239,860 | +€12,587 | +5.5% |
| Distributable reserves | 133 | €227,273 | €239,860 | +€12,587 | +5.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €195,390 | €266,389 | +€70,999 | +36.3% |
| Amounts payable after more than one year | 17 | €159,380 | €136,950 | -€22,430 | -14.1% |
| Financial debts | 170/4 | €159,380 | €136,950 | -€22,430 | -14.1% |
| Amounts payable within one year | 42/48 | €35,177 | €128,708 | +€93,531 | +266% |
| Current portion of amounts payable after more than one year | 42 | €22,318 | €22,429 | +€111 | +0.5% |
| Trade debts | 44 | €467 | €465 | -€2 | -0.4% |
| Suppliers | 440/4 | €467 | €465 | -€2 | -0.4% |
| Taxes, remuneration and social security | 45 | €10,978 | €5,781 | -€5,197 | -47.3% |
| Taxes | 450/3 | €10,978 | €5,781 | -€5,197 | -47.3% |
| Other amounts payable | 47/48 | €1,414 | €100,033 | +€98,619 | +6,974% |
| Accrued charges and deferred income | 492/3 | €833 | €730 | -€103 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,103 | €364 | -€4,739 | -92.9% |
| Other operating charges | 640/8 | €659 | €675 | +€16 | +2.4% |
| Gross operating margin | 9900 | €72,957 | €66,655 | -€6,302 | -8.6% |
| Operating profit (loss) | 9901 | €67,195 | €65,616 | -€1,579 | -2.3% |
| Financial income | 75/76B | €46,529 | €67,396 | +€20,867 | +44.8% |
| Recurring financial income | 75 | €46,529 | €67,396 | +€20,867 | +44.8% |
| Financial charges | 65/66B | €1,011 | €894 | -€117 | -11.6% |
| Recurring financial charges | 65 | €1,011 | €894 | -€117 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €112,713 | €132,118 | +€19,405 | +17.2% |
| Income taxes | 67/77 | €26,705 | €19,531 | -€7,174 | -26.9% |
| Profit (loss) for the period | 9904 | €86,008 | €112,587 | +€26,579 | +30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,008 | €112,587 | +€26,579 | +30.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.