GLM Mertens: what changed
What changed
GLM Mertens
NACE 01.610, Support activities for crop production
filed annual accounts (NBB)
Net result for the year
€1,547
2025 · €923+€625
Equity
€42,876
2025 · €41,328+€1,547
Cash
€4,808
2025 · €7,547-€2,739
Balance sheet total
€256,892
2025 · €233,938+€22,954
Largest movements
Assets
- Tangible fixed assets +€29,825
up €29,825 (+14.0%), from €213,080 to €242,905
of which Plant, machinery and equipment: +€24,560
- Stocks and contracts -€2,924
down €2,924 (-100%), from €2,924 to €0
- Cash -€2,739
down €2,739 (-36.3%), from €7,547 to €4,808
mainly Investment in fixed assets (net) (-€71,864) and Trade debts (-€2,715)
Equity and liabilities
- Debts after one year +€11,737
up €11,737 (+62.6%), from €18,752 to €30,489
- Current portion of long-term debt +€7,257
up €7,257 (+29.6%), from €24,507 to €31,763
- Other debts +€7,173
up €7,173 (+5.1%), from €141,229 to €148,401
- Trade debts -€2,715
down €2,715 (-46.1%), from €5,887 to €3,172
Income statement
- Gross operating margin +€6,583
up €6,583 (+17.3%), from €37,967 to €44,550
- Depreciation +€6,523
up €6,523 (+18.4%), from €35,517 to €42,040
Change in the result, 2025 to 2026
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 2025
€923
Gross operating margin
+€6,583
Depreciation
-€6,523
Other operating charges
+€232
Financial income
+€102
Financial charges
+€231
Result 2026
€1,547
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€50,132
Investment
-€71,864
Financing
+€18,993
Cash 2025
€7,547
From operations (derived)
+€50,132
Net result for the year
+€1,547
Depreciation
+€42,040
Stocks and contracts
+€2,924
Receivables within one year
+€2,109
Deferred charges and accrued income
-€901
Trade debts
-€2,715
Tax, wage and social debts
+€192
Other debts
+€7,173
Accrued charges and deferred income
-€2,236
Investment (derived)
-€71,864
Investment in fixed assets (net)
-€71,864
Financing
+€18,993
Debts after one year
+€11,737
Current portion of long-term debt
+€7,257
Cash 2026
€4,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €233,938 | €256,892 | +€22,954 | +9.8% |
| Fixed assets | 21/28 | €213,415 | €243,240 | +€29,825 | +14.0% |
| Tangible fixed assets | 22/27 | €213,080 | €242,905 | +€29,825 | +14.0% |
| Plant, machinery and equipment | 23 | €125,634 | €150,194 | +€24,560 | +19.5% |
| Furniture and vehicles | 24 | €87,446 | €92,711 | +€5,265 | +6.0% |
| Financial fixed assets | 28 | €335 | €335 | = | 0.0% |
| Current assets | 29/58 | €20,522 | €13,652 | -€6,870 | -33.5% |
| Stocks and contracts in progress | 3 | €2,924 | €0 | -€2,924 | -100% |
| Contracts in progress | 37 | €2,924 | €0 | -€2,924 | -100% |
| Amounts receivable within one year | 40/41 | €8,078 | €5,969 | -€2,109 | -26.1% |
| Trade receivables | 40 | €2,685 | €3,295 | +€610 | +22.7% |
| Other amounts receivable | 41 | €5,394 | €2,674 | -€2,720 | -50.4% |
| Cash at bank and in hand | 54/58 | €7,547 | €4,808 | -€2,739 | -36.3% |
| Deferred charges and accrued income | 490/1 | €1,974 | €2,876 | +€901 | +45.7% |
| Total equity and liabilities | 10/49 | €233,938 | €256,892 | +€22,954 | +9.8% |
| Equity | 10/15 | €41,328 | €42,876 | +€1,547 | +3.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €21,328 | €22,876 | +€1,547 | +7.3% |
| Distributable reserves | 133 | €21,328 | €22,876 | +€1,547 | +7.3% |
| Amounts payable | 17/49 | €192,610 | €214,017 | +€21,407 | +11.1% |
| Amounts payable after more than one year | 17 | €18,752 | €30,489 | +€11,737 | +62.6% |
| Financial debts | 170/4 | €18,752 | €30,489 | +€11,737 | +62.6% |
| Amounts payable within one year | 42/48 | €171,622 | €183,528 | +€11,906 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €24,507 | €31,763 | +€7,257 | +29.6% |
| Trade debts | 44 | €5,887 | €3,172 | -€2,715 | -46.1% |
| Suppliers | 440/4 | €5,887 | €3,172 | -€2,715 | -46.1% |
| Taxes, remuneration and social security | 45 | - | €192 | +€192 | |
| Taxes | 450/3 | - | €192 | +€192 | |
| Other amounts payable | 47/48 | €141,229 | €148,401 | +€7,173 | +5.1% |
| Accrued charges and deferred income | 492/3 | €2,236 | €0 | -€2,236 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,517 | €42,040 | +€6,523 | +18.4% |
| Other operating charges | 640/8 | €751 | €520 | -€232 | -30.8% |
| Gross operating margin | 9900 | €37,967 | €44,550 | +€6,583 | +17.3% |
| Operating profit (loss) | 9901 | €1,699 | €1,990 | +€291 | +17.1% |
| Financial income | 75/76B | - | €102 | +€102 | |
| Recurring financial income | 75 | - | €102 | +€102 | |
| Financial charges | 65/66B | €776 | €545 | -€231 | -29.8% |
| Recurring financial charges | 65 | €776 | €545 | -€231 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €923 | €1,547 | +€625 | +67.7% |
| Profit (loss) for the period | 9904 | €923 | €1,547 | +€625 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €923 | €1,547 | +€625 | +67.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.