Data Merit: what changed
Data Merit
Largest movements
- Cash +€86,953
up €86,953 (+62.3%), from €139,675 to €226,628
mainly Net result for the year (+€129,555) and Tax, wage and social debts (+€24,605)
- Receivables within one year +€60,315
up €60,315 (+51.4%), from €117,335 to €177,650
of which Other amounts receivable: +€58,452
- Tangible fixed assets -€7,912
down €7,912 (-17.6%), from €44,936 to €37,024
of which Furniture and vehicles: -€13,301
- Profit (loss) carried forward +€129,555
up €129,555 (+69.3%), from €186,894 to €316,449
- Tax, wage and social debts +€24,605
up €24,605 (+39.9%), from €61,738 to €86,343
- Debts after one year -€10,347
down €10,347 (-56.4%), from €18,350 to €8,003
- Trade debts -€5,424
down €5,424 (-86.8%), from €6,251 to €827
- Gross operating margin +€31,776
up €31,776 (+20.5%), from €155,137 to €186,912
- Taxes +€8,070
up €8,070 (+26.7%), from €30,256 to €38,327
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €304,994 | €443,742 | +€138,748 | +45.5% |
| Fixed assets | 21/28 | €46,089 | €37,174 | -€8,915 | -19.3% |
| Intangible fixed assets | 21 | €1,003 | - | -€1,003 | |
| Tangible fixed assets | 22/27 | €44,936 | €37,024 | -€7,912 | -17.6% |
| Plant, machinery and equipment | 23 | €2,609 | €1,991 | -€619 | -23.7% |
| Furniture and vehicles | 24 | €42,327 | €29,026 | -€13,301 | -31.4% |
| Other tangible fixed assets | 26 | - | €6,008 | +€6,008 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €258,904 | €406,567 | +€147,663 | +57.0% |
| Amounts receivable within one year | 40/41 | €117,335 | €177,650 | +€60,315 | +51.4% |
| Trade receivables | 40 | €21,982 | €23,845 | +€1,863 | +8.5% |
| Other amounts receivable | 41 | €95,353 | €153,805 | +€58,452 | +61.3% |
| Cash at bank and in hand | 54/58 | €139,675 | €226,628 | +€86,953 | +62.3% |
| Deferred charges and accrued income | 490/1 | €1,895 | €2,289 | +€395 | +20.8% |
| Total equity and liabilities | 10/49 | €304,994 | €443,742 | +€138,748 | +45.5% |
| Equity | 10/15 | €208,667 | €338,222 | +€129,555 | +62.1% |
| Contributions | 10/11 | €21,773 | €21,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,894 | €316,449 | +€129,555 | +69.3% |
| Amounts payable | 17/49 | €96,327 | €105,520 | +€9,193 | +9.5% |
| Amounts payable after more than one year | 17 | €18,350 | €8,003 | -€10,347 | -56.4% |
| Financial debts | 170/4 | €18,350 | €8,003 | -€10,347 | -56.4% |
| Amounts payable within one year | 42/48 | €77,977 | €97,517 | +€19,540 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €9,987 | €10,347 | +€359 | +3.6% |
| Trade debts | 44 | €6,251 | €827 | -€5,424 | -86.8% |
| Suppliers | 440/4 | €6,251 | €827 | -€5,424 | -86.8% |
| Taxes, remuneration and social security | 45 | €61,738 | €86,343 | +€24,605 | +39.9% |
| Taxes | 450/3 | €61,738 | €86,343 | +€24,605 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,818 | €17,608 | -€210 | -1.2% |
| Other operating charges | 640/8 | €291 | €419 | +€128 | +43.8% |
| Gross operating margin | 9900 | €155,137 | €186,912 | +€31,776 | +20.5% |
| Operating profit (loss) | 9901 | €137,027 | €168,886 | +€31,858 | +23.2% |
| Financial income | 75/76B | €16 | €25 | +€9 | +55.7% |
| Recurring financial income | 75 | €16 | €25 | +€9 | +55.7% |
| Financial charges | 65/66B | €1,447 | €1,029 | -€417 | -28.9% |
| Recurring financial charges | 65 | €1,447 | €1,029 | -€417 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €135,597 | €167,881 | +€32,285 | +23.8% |
| Income taxes | 67/77 | €30,256 | €38,327 | +€8,070 | +26.7% |
| Profit (loss) for the period | 9904 | €105,341 | €129,555 | +€24,214 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €105,341 | €129,555 | +€24,214 | +23.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.