De Mert: 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.
De Mert
Largest movements
- Receivables within one year +€450,943
up €450,943 (+212%), from €212,420 to €663,363
of which Trade receivables: +€385,357
- Tangible fixed assets +€172,399
up €172,399 (+51.8%), from €332,596 to €504,995
of which Leasing and similar rights: +€164,958
- Trade debts +€325,376
up €325,376 (+371%), from €87,670 to €413,046
- Debts after one year +€142,579
up €142,579 (+52.3%), from €272,385 to €414,964
- Short-term financial debts +€86,656
up €86,656 (+536%), from €16,163 to €102,819
- Current portion of long-term debt +€76,423
up €76,423 (+142%), from €53,874 to €130,296
- Tax, wage and social debts -€28,310
down €28,310 (-60.8%), from €46,592 to €18,282
of which Remuneration and social security: -€18,578
- Gross operating margin +€274,402
up €274,402 (+67.3%), from €407,935 to €682,337
- Staff costs +€181,815
up €181,815 (+56.8%), from €320,320 to €502,135
- Depreciation +€56,432
up €56,432 (+113%), from €49,739 to €106,171
- Financial charges +€21,855
up €21,855 (+145%), from €15,058 to €36,913
- Taxes -€10,967
down €10,967 (-56.1%), from €19,565 to €8,597
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 | €627,508 | €1,258,460 | +€630,952 | +101% |
| Fixed assets | 21/28 | €333,596 | €505,995 | +€172,399 | +51.7% |
| Tangible fixed assets | 22/27 | €332,596 | €504,995 | +€172,399 | +51.8% |
| Land and buildings | 22 | €13,854 | €13,077 | -€777 | -5.6% |
| Plant, machinery and equipment | 23 | €21,950 | €31,127 | +€9,177 | +41.8% |
| Leasing and similar rights | 25 | €294,399 | €459,357 | +€164,958 | +56.0% |
| Other tangible fixed assets | 26 | €2,393 | €1,433 | -€960 | -40.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €293,912 | €752,465 | +€458,553 | +156% |
| Amounts receivable within one year | 40/41 | €212,420 | €663,363 | +€450,943 | +212% |
| Trade receivables | 40 | €148,652 | €534,009 | +€385,357 | +259% |
| Other amounts receivable | 41 | €63,768 | €129,354 | +€65,586 | +103% |
| Cash at bank and in hand | 54/58 | €81,492 | €88,542 | +€7,050 | +8.7% |
| Deferred charges and accrued income | 490/1 | - | €560 | +€560 | |
| Total equity and liabilities | 10/49 | €627,508 | €1,258,460 | +€630,952 | +101% |
| Equity | 10/15 | €141,359 | €168,386 | +€27,026 | +19.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,299 | €160,326 | +€27,026 | +20.3% |
| Amounts payable | 17/49 | €486,148 | €1,090,074 | +€603,926 | +124% |
| Amounts payable after more than one year | 17 | €272,385 | €414,964 | +€142,579 | +52.3% |
| Financial debts | 170/4 | €272,385 | €414,964 | +€142,579 | +52.3% |
| Amounts payable within one year | 42/48 | €213,764 | €675,111 | +€461,347 | +216% |
| Current portion of amounts payable after more than one year | 42 | €53,874 | €130,296 | +€76,423 | +142% |
| Financial debts | 43 | €16,163 | €102,819 | +€86,656 | +536% |
| Credit institutions | 430/8 | €16,163 | €102,819 | +€86,656 | +536% |
| Trade debts | 44 | €87,670 | €413,046 | +€325,376 | +371% |
| Suppliers | 440/4 | €87,670 | €413,046 | +€325,376 | +371% |
| Advances received on contracts in progress | 46 | €9,464 | €9,464 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €46,592 | €18,282 | -€28,310 | -60.8% |
| Taxes | 450/3 | €18,845 | €9,113 | -€9,732 | -51.6% |
| Remuneration and social security | 454/9 | €27,747 | €9,170 | -€18,578 | -67.0% |
| Other amounts payable | 47/48 | - | €1,203 | +€1,203 | |
| Remuneration, social security and pensions | 62 | €320,320 | €502,135 | +€181,815 | +56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,739 | €106,171 | +€56,432 | +113% |
| Other operating charges | 640/8 | €3,058 | €2,798 | -€261 | -8.5% |
| Gross operating margin | 9900 | €407,935 | €682,337 | +€274,402 | +67.3% |
| Operating profit (loss) | 9901 | €34,818 | €71,233 | +€36,415 | +105% |
| Financial income | 75/76B | €894 | €3,022 | +€2,128 | +238% |
| Recurring financial income | 75 | €894 | €3,022 | +€2,128 | +238% |
| Financial charges | 65/66B | €15,058 | €36,913 | +€21,855 | +145% |
| Recurring financial charges | 65 | €15,058 | €36,913 | +€21,855 | +145% |
| Profit (loss) for the period before taxes | 9903 | €20,654 | €37,342 | +€16,688 | +80.8% |
| Income taxes | 67/77 | €19,565 | €8,597 | -€10,967 | -56.1% |
| Profit (loss) for the period | 9904 | €1,089 | €28,744 | +€27,655 | +2,539% |
| Profit (loss) for the period to be appropriated | 9905 | €1,089 | €28,744 | +€27,655 | +2,539% |
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.