DAVE MERTENS: what changed
DAVE MERTENS
Largest movements
- Receivables after one year +€219,207
up €219,207 (+181%), from €121,085 to €340,292
- Cash -€25,371
down €25,371 (-15.5%), from €164,189 to €138,818
mainly Contributions, distributions and other (-€273,181) and Receivables after one year (-€219,207)
- Other debts +€189,824
up €189,824 (+60.0%), from €316,128 to €505,952
- Tax, wage and social debts +€9,453
up €9,453 (+30.8%), from €30,706 to €40,159
of which Taxes: +€9,418
- Gross operating margin -€23,509
down €23,509 (-6.2%), from €379,170 to €355,661
- Taxes -€5,451
down €5,451 (-6.0%), from €90,242 to €84,791
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 | €366,325 | €564,711 | +€198,386 | +54.2% |
| Current assets | 29/58 | €366,325 | €564,711 | +€198,386 | +54.2% |
| Amounts receivable after more than one year | 29 | €121,085 | €340,292 | +€219,207 | +181% |
| Other amounts receivable | 291 | €121,085 | €340,292 | +€219,207 | +181% |
| Amounts receivable within one year | 40/41 | €80,974 | €84,850 | +€3,876 | +4.8% |
| Trade receivables | 40 | €76,216 | €0 | -€76,216 | -100% |
| Other amounts receivable | 41 | €4,758 | €84,850 | +€80,092 | +1,683% |
| Cash at bank and in hand | 54/58 | €164,189 | €138,818 | -€25,371 | -15.5% |
| Deferred charges and accrued income | 490/1 | €77 | €752 | +€675 | +873% |
| Total equity and liabilities | 10/49 | €366,325 | €564,711 | +€198,386 | +54.2% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €347,725 | €546,111 | +€198,386 | +57.1% |
| Amounts payable within one year | 42/48 | €347,725 | €546,111 | +€198,386 | +57.1% |
| Trade debts | 44 | €891 | €0 | -€891 | -100% |
| Suppliers | 440/4 | €891 | €0 | -€891 | -100% |
| Taxes, remuneration and social security | 45 | €30,706 | €40,159 | +€9,453 | +30.8% |
| Taxes | 450/3 | €27,205 | €36,622 | +€9,418 | +34.6% |
| Remuneration and social security | 454/9 | €3,501 | €3,537 | +€36 | +1.0% |
| Other amounts payable | 47/48 | €316,128 | €505,952 | +€189,824 | +60.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €379,170 | €355,661 | -€23,509 | -6.2% |
| Operating profit (loss) | 9901 | €378,665 | €355,142 | -€23,523 | -6.2% |
| Financial income | 75/76B | €1,185 | €2,978 | +€1,793 | +151% |
| Recurring financial income | 75 | €1,185 | €2,978 | +€1,793 | +151% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €140 | €147 | +€7 | +5.3% |
| Recurring financial charges | 65 | €140 | €147 | +€7 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €379,710 | €357,972 | -€21,738 | -5.7% |
| Income taxes | 67/77 | €90,242 | €84,791 | -€5,451 | -6.0% |
| Profit (loss) for the period | 9904 | €289,467 | €273,181 | -€16,287 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €289,467 | €273,181 | -€16,287 | -5.6% |
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.