C-Merco: 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.
C-Merco
Largest movements
- Current investments +€410,438
up €410,438 (+125%), from €327,736 to €738,174
- Cash -€306,193
down €306,193 (-54.7%), from €559,313 to €253,120
mainly Current investments (-€410,438) and Contributions, distributions and other (-€182,112)
- Receivables within one year -€134,643
down €134,643 (-63.8%), from €210,949 to €76,306
of which Trade receivables: -€116,840
- Reserves -€23,271
down €23,271 (-2.1%), from €1.1m to €1.1m
- Other debts -€16,517
down €16,517 (-99.7%), from €16,564 to €47
- Gross operating margin +€78,879
up €78,879 (+65.1%), from €121,116 to €199,995
- Taxes +€25,531
up €25,531 (+69.3%), from €36,867 to €62,398
- Financial income +€16,114
up €16,114 (+104%), from €15,566 to €31,680
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 | €1,114,177 | €1,079,584 | -€34,593 | -3.1% |
| Fixed assets | 21/28 | €14,409 | €10,192 | -€4,217 | -29.3% |
| Tangible fixed assets | 22/27 | €14,409 | €10,192 | -€4,217 | -29.3% |
| Plant, machinery and equipment | 23 | €1,737 | €1,881 | +€144 | +8.3% |
| Furniture and vehicles | 24 | €1,628 | €28 | -€1,600 | -98.3% |
| Other tangible fixed assets | 26 | €11,044 | €8,283 | -€2,761 | -25.0% |
| Current assets | 29/58 | €1,099,768 | €1,069,392 | -€30,376 | -2.8% |
| Amounts receivable within one year | 40/41 | €210,949 | €76,306 | -€134,643 | -63.8% |
| Trade receivables | 40 | €193,146 | €76,306 | -€116,840 | -60.5% |
| Other amounts receivable | 41 | €17,803 | - | -€17,803 | |
| Current investments | 50/53 | €327,736 | €738,174 | +€410,438 | +125% |
| Cash at bank and in hand | 54/58 | €559,313 | €253,120 | -€306,193 | -54.7% |
| Deferred charges and accrued income | 490/1 | €1,770 | €1,792 | +€22 | +1.2% |
| Total equity and liabilities | 10/49 | €1,114,177 | €1,079,584 | -€34,593 | -3.1% |
| Equity | 10/15 | €1,093,107 | €1,069,836 | -€23,271 | -2.1% |
| Reserves | 13 | €1,093,107 | €1,069,836 | -€23,271 | -2.1% |
| Distributable reserves | 133 | €1,093,107 | €1,069,836 | -€23,271 | -2.1% |
| Amounts payable | 17/49 | €21,070 | €9,748 | -€11,322 | -53.7% |
| Amounts payable within one year | 42/48 | €21,070 | €9,748 | -€11,322 | -53.7% |
| Trade debts | 44 | €1,265 | €3,248 | +€1,983 | +157% |
| Suppliers | 440/4 | €1,265 | €3,248 | +€1,983 | +157% |
| Taxes, remuneration and social security | 45 | €3,241 | €6,453 | +€3,212 | +99.1% |
| Taxes | 450/3 | €3,241 | €6,453 | +€3,212 | +99.1% |
| Other amounts payable | 47/48 | €16,564 | €47 | -€16,517 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,962 | €6,125 | -€837 | -12.0% |
| Other operating charges | 640/8 | €1,940 | €2,284 | +€344 | +17.7% |
| Gross operating margin | 9900 | €121,116 | €199,995 | +€78,879 | +65.1% |
| Operating profit (loss) | 9901 | €112,214 | €191,586 | +€79,372 | +70.7% |
| Financial income | 75/76B | €15,566 | €31,680 | +€16,114 | +104% |
| Recurring financial income | 75 | €15,566 | €31,680 | +€16,114 | +104% |
| Financial charges | 65/66B | €401 | €2,027 | +€1,626 | +405% |
| Recurring financial charges | 65 | €401 | €2,027 | +€1,626 | +405% |
| Profit (loss) for the period before taxes | 9903 | €127,379 | €221,239 | +€93,860 | +73.7% |
| Income taxes | 67/77 | €36,867 | €62,398 | +€25,531 | +69.3% |
| Profit (loss) for the period | 9904 | €90,512 | €158,841 | +€68,329 | +75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €90,512 | €158,841 | +€68,329 | +75.5% |
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 22 October 2026 via checked.be.