Gerhard MERTES: what changed
Two fiscal 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.
Gerhard MERTES
Largest movements
- Tangible fixed assets -€34,763
down €34,763 (-20.9%), from €166,334 to €131,571
of which Plant, machinery and equipment: -€26,736
- Receivables within one year +€32,579
up €32,579 (+125.5%), from €25,962 to €58,541
of which Trade receivables: +€29,579
- Cash -€30,598
down €30,598 (-42.7%), from €71,595 to €40,997
mainly Debts after one year (-€41,363) and Receivables within one year (-€32,579)
- Debts after one year -€41,363
down €41,363 (-18.6%), from €222,911 to €181,548
- Trade debts +€18,217
up €18,217 (+293.4%), from €6,208 to €24,425
- Tax, wage and social debts -€14,283
down €14,283 (-50.1%), from €28,509 to €14,226
of which Taxes: -€14,490
- Other debts +€6,750
new in 2025: €6,750
- Profit (loss) carried forward -€6,225
new in 2025: -€6,225
- Staff costs +€8,374
up €8,374 (+14.0%), from €59,883 to €68,256
- Depreciation +€6,953
up €6,953 (+19.8%), from €35,125 to €42,078
- Taxes -€2,382
no longer reported in 2025 (was €2,382)
- Financial charges -€1,755
down €1,755 (-14.2%), from €12,344 to €10,589
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.
Cash bridge derived
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 | €321,530 | €284,867 | -€36,663 | -11.4% |
| Fixed assets | 21/28 | €178,720 | €140,958 | -€37,763 | -21.1% |
| Intangible fixed assets | 21 | €12,386 | €9,386 | -€3,000 | -24.2% |
| Tangible fixed assets | 22/27 | €166,334 | €131,571 | -€34,763 | -20.9% |
| Land and buildings | 22 | €12,310 | €13,676 | +€1,367 | +11.1% |
| Plant, machinery and equipment | 23 | €117,256 | €90,520 | -€26,736 | -22.8% |
| Furniture and vehicles | 24 | €36,768 | €27,375 | -€9,393 | -25.5% |
| Current assets | 29/58 | €142,810 | €143,910 | +€1,100 | +0.8% |
| Stocks and contracts in progress | 3 | €43,175 | €40,871 | -€2,303 | -5.3% |
| Stocks | 30/36 | €19,078 | €18,231 | -€846 | -4.4% |
| Contracts in progress | 37 | €24,097 | €22,640 | -€1,457 | -6.0% |
| Amounts receivable within one year | 40/41 | €25,962 | €58,541 | +€32,579 | +125.5% |
| Trade receivables | 40 | €25,962 | €55,541 | +€29,579 | +113.9% |
| Other amounts receivable | 41 | - | €3,000 | +€3,000 | |
| Cash at bank and in hand | 54/58 | €71,595 | €40,997 | -€30,598 | -42.7% |
| Deferred charges and accrued income | 490/1 | €2,078 | €3,500 | +€1,422 | +68.5% |
| Total equity and liabilities | 10/49 | €321,530 | €284,867 | -€36,663 | -11.4% |
| Equity | 10/15 | €19,208 | €12,983 | -€6,225 | -32.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €4,208 | €4,208 | = | 0.0% |
| Distributable reserves | 133 | €4,208 | €4,208 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,225 | -€6,225 | |
| Amounts payable | 17/49 | €302,322 | €271,884 | -€30,438 | -10.1% |
| Amounts payable after more than one year | 17 | €222,911 | €181,548 | -€41,363 | -18.6% |
| Financial debts | 170/4 | €222,911 | €181,548 | -€41,363 | -18.6% |
| Amounts payable within one year | 42/48 | €79,411 | €90,337 | +€10,926 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €44,693 | €44,935 | +€241 | +0.5% |
| Trade debts | 44 | €6,208 | €24,425 | +€18,217 | +293.4% |
| Suppliers | 440/4 | €6,208 | €24,425 | +€18,217 | +293.4% |
| Taxes, remuneration and social security | 45 | €28,509 | €14,226 | -€14,283 | -50.1% |
| Taxes | 450/3 | €22,885 | €8,395 | -€14,490 | -63.3% |
| Remuneration and social security | 454/9 | €5,624 | €5,831 | +€207 | +3.7% |
| Other amounts payable | 47/48 | - | €6,750 | +€6,750 | |
| Remuneration, social security and pensions | 62 | €59,883 | €68,256 | +€8,374 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,125 | €42,078 | +€6,953 | +19.8% |
| Other operating charges | 640/8 | €1,310 | €1,686 | +€376 | +28.7% |
| Gross operating margin | 9900 | €114,936 | €115,851 | +€915 | +0.8% |
| Operating profit (loss) | 9901 | €18,618 | €3,830 | -€14,788 | -79.4% |
| Financial income | 75/76B | €315 | €534 | +€218 | +69.3% |
| Recurring financial income | 75 | €315 | €534 | +€218 | +69.3% |
| Financial charges | 65/66B | €12,344 | €10,589 | -€1,755 | -14.2% |
| Recurring financial charges | 65 | €12,344 | €10,589 | -€1,755 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €6,590 | -€6,225 | -€12,815 | |
| Income taxes | 67/77 | €2,382 | - | -€2,382 | |
| Profit (loss) for the period | 9904 | €4,208 | -€6,225 | -€10,433 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,208 | -€6,225 | -€10,433 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.