ANDRE 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.
ANDRE MERTENS
Largest movements
- Receivables within one year +€6,992
up €6,992 (+69.9%), from €10,008 to €17,000
of which Other amounts receivable: +€6,266
- Cash -€5,172
down €5,172 (-45.7%), from €11,327 to €6,155
mainly Receivables within one year (-€6,992) and Accrued charges and deferred income (-€2,418)
- Stocks and contracts -€4,210
down €4,210 (-93.9%), from €4,482 to €272
- Accrued charges and deferred income -€2,418
no longer reported in 2025 (was €2,418)
- Trade debts +€1,413
up €1,413 (+157%), from €902 to €2,315
- Profit (loss) carried forward -€998
down €998 (-14.2%), from €7,036 to €6,038
- Tax, wage and social debts -€344
down €344 (-28.6%), from €1,203 to €859
- Turnover -€43,964
down €43,964 (-64.9%), from €67,690 to €23,726
- Purchases and services -€26,555
down €26,555 (-58.1%), from €45,700 to €19,145
- Gross operating margin -€17,409
down €17,409 (-79.2%), from €21,990 to €4,581
- Other operating charges +€3,954
up €3,954 (+251%), from €1,578 to €5,532
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 | €25,818 | €23,471 | -€2,347 | -9.1% |
| Fixed assets | 21/28 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1 | €1 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €25,817 | €23,470 | -€2,347 | -9.1% |
| Stocks and contracts in progress | 3 | €4,482 | €272 | -€4,210 | -93.9% |
| Stocks | 30/36 | €4,482 | €272 | -€4,210 | -93.9% |
| Amounts receivable within one year | 40/41 | €10,008 | €17,000 | +€6,992 | +69.9% |
| Trade receivables | 40 | €3,933 | €4,659 | +€726 | +18.5% |
| Other amounts receivable | 41 | €6,075 | €12,341 | +€6,266 | +103% |
| Cash at bank and in hand | 54/58 | €11,327 | €6,155 | -€5,172 | -45.7% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €25,818 | €23,471 | -€2,347 | -9.1% |
| Equity | 10/15 | €21,295 | €20,297 | -€998 | -4.7% |
| Contributions | 10/11 | €14,259 | €14,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,036 | €6,038 | -€998 | -14.2% |
| Amounts payable | 17/49 | €4,523 | €3,174 | -€1,349 | -29.8% |
| Amounts payable within one year | 42/48 | €2,105 | €3,174 | +€1,069 | +50.8% |
| Trade debts | 44 | €902 | €2,315 | +€1,413 | +157% |
| Suppliers | 440/4 | €902 | €2,315 | +€1,413 | +157% |
| Taxes, remuneration and social security | 45 | €1,203 | €859 | -€344 | -28.6% |
| Taxes | 450/3 | €1,203 | €859 | -€344 | -28.6% |
| Accrued charges and deferred income | 492/3 | €2,418 | - | -€2,418 | |
| Turnover | 70 | €67,690 | €23,726 | -€43,964 | -64.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €45,700 | €19,145 | -€26,555 | -58.1% |
| Other operating charges | 640/8 | €1,578 | €5,532 | +€3,954 | +251% |
| Gross operating margin | 9900 | €21,990 | €4,581 | -€17,409 | -79.2% |
| Operating profit (loss) | 9901 | €20,412 | -€951 | -€21,363 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €56 | €48 | -€8 | -14.3% |
| Recurring financial charges | 65 | €56 | €48 | -€8 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €20,356 | -€998 | -€21,354 | |
| Profit (loss) for the period | 9904 | €20,356 | -€998 | -€21,354 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,356 | -€998 | -€21,354 |
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.