DR. LUC MERCKX: what changed
What changed
DR. LUC MERCKX
filed annual accounts (NBB)
Net result for the year
€115,433
2024 · €165,279-€49,846
Equity
€842,961
2024 · €768,843+€74,118
Cash
€201,633
2024 · €234,468-€32,835
Balance sheet total
€870,246
2024 · €844,117+€26,129
Largest movements
Assets
- Current investments +€96,321
up €96,321 (+40.9%), from €235,269 to €331,590
- Cash -€32,835
down €32,835 (-14.0%), from €234,468 to €201,633
mainly Current investments (-€96,321) and Tax, wage and social debts (-€50,269)
- Tangible fixed assets -€29,315
down €29,315 (-35.3%), from €83,057 to €53,742
Equity and liabilities
- Reserves +€74,118
up €74,118 (+13.6%), from €544,851 to €618,969
of which Distributable reserves: +€74,118
- Tax, wage and social debts -€50,269
down €50,269 (-86.6%), from €58,020 to €7,751
Income statement
- Taxes +€39,873
up €39,873 (+82.5%), from €48,328 to €88,201
- Gross operating margin -€10,551
down €10,551 (-4.5%), from €233,793 to €223,242
- Depreciation +€3,763
up €3,763 (+20.2%), from €18,600 to €22,362
- Financial income +€3,405
up €3,405 (+96.7%), from €3,520 to €6,925
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.
Result 2024
€165,279
Gross operating margin
-€10,551
Depreciation
-€3,763
Other operating charges
+€894
Financial income
+€3,405
Financial charges
+€42
Taxes
-€39,873
Result 2025
€115,433
raises the resultlowers the result
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.
From operations
+€97,849
Investment
-€89,368
Financing
-€41,316
Cash 2024
€234,468
From operations (derived)
+€97,849
Net result for the year
+€115,433
Depreciation
+€22,362
Receivables within one year
+€1,999
Deferred charges and accrued income
+€6,043
Trade debts
-€516
Tax, wage and social debts
-€50,269
Other debts
+€2,796
Investment (derived)
-€89,368
Investment in fixed assets (net)
+€6,953
Current investments
-€96,321
Financing
-€41,316
Contributions, distributions and other
-€41,316
Cash 2025
€201,633
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €844,117 | €870,246 | +€26,129 | +3.1% |
| Fixed assets | 21/28 | €83,057 | €53,742 | -€29,315 | -35.3% |
| Tangible fixed assets | 22/27 | €83,057 | €53,742 | -€29,315 | -35.3% |
| Plant, machinery and equipment | 23 | €25,578 | €13,404 | -€12,174 | -47.6% |
| Furniture and vehicles | 24 | €51,501 | €39,047 | -€12,454 | -24.2% |
| Other tangible fixed assets | 26 | €5,978 | €1,291 | -€4,686 | -78.4% |
| Current assets | 29/58 | €761,060 | €816,504 | +€55,443 | +7.3% |
| Amounts receivable within one year | 40/41 | €134,849 | €132,850 | -€1,999 | -1.5% |
| Other amounts receivable | 41 | €134,849 | €132,850 | -€1,999 | -1.5% |
| Current investments | 50/53 | €235,269 | €331,590 | +€96,321 | +40.9% |
| Cash at bank and in hand | 54/58 | €234,468 | €201,633 | -€32,835 | -14.0% |
| Deferred charges and accrued income | 490/1 | €156,474 | €150,431 | -€6,043 | -3.9% |
| Total equity and liabilities | 10/49 | €844,117 | €870,246 | +€26,129 | +3.1% |
| Equity | 10/15 | €768,843 | €842,961 | +€74,118 | +9.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €544,851 | €618,969 | +€74,118 | +13.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,307 | €20,307 | = | 0.0% |
| Distributable reserves | 133 | €522,684 | €596,802 | +€74,118 | +14.2% |
| Profit (loss) carried forward | 14 | €211,592 | €211,592 | = | 0.0% |
| Amounts payable | 17/49 | €75,274 | €27,285 | -€47,989 | -63.8% |
| Amounts payable within one year | 42/48 | €75,274 | €27,285 | -€47,989 | -63.8% |
| Trade debts | 44 | €2,540 | €2,024 | -€516 | -20.3% |
| Suppliers | 440/4 | €2,540 | €2,024 | -€516 | -20.3% |
| Taxes, remuneration and social security | 45 | €58,020 | €7,751 | -€50,269 | -86.6% |
| Taxes | 450/3 | €58,020 | €7,751 | -€50,269 | -86.6% |
| Other amounts payable | 47/48 | €14,714 | €17,509 | +€2,796 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,600 | €22,362 | +€3,763 | +20.2% |
| Other operating charges | 640/8 | €1,574 | €680 | -€894 | -56.8% |
| Gross operating margin | 9900 | €233,793 | €223,242 | -€10,551 | -4.5% |
| Operating profit (loss) | 9901 | €213,619 | €200,199 | -€13,420 | -6.3% |
| Financial income | 75/76B | €3,520 | €6,925 | +€3,405 | +96.7% |
| Recurring financial income | 75 | €3,520 | €6,925 | +€3,405 | +96.7% |
| Financial charges | 65/66B | €3,532 | €3,490 | -€42 | -1.2% |
| Recurring financial charges | 65 | €3,532 | €3,490 | -€42 | -1.2% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €213,608 | €203,634 | -€9,973 | -4.7% |
| Income taxes | 67/77 | €48,328 | €88,201 | +€39,873 | +82.5% |
| Profit (loss) for the period | 9904 | €165,279 | €115,433 | -€49,846 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €165,279 | €115,433 | -€49,846 | -30.2% |
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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 7 November 2026 via checked.be.