JACKY MERTENS: 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.
JACKY MERTENS
Largest movements
- Current investments +€100,000
up €100,000 (+50.0%), from €200,000 to €300,000
- Tangible fixed assets -€99,364
down €99,364 (-24.6%), from €404,637 to €305,273
- Cash -€91,104
down €91,104 (-26.1%), from €348,955 to €257,851
mainly Current investments (-€100,000) and Debts after one year (-€62,424)
- Stocks and contracts +€24,543
up €24,543 (+3.4%), from €721,031 to €745,574
- Reserves +€94,012
up €94,012 (+15.4%), from €611,892 to €705,903
of which Distributable reserves: +€94,012
- Debts after one year -€62,424
down €62,424 (-25.3%), from €246,707 to €184,283
- Other debts -€30,124
down €30,124 (-5.6%), from €537,585 to €507,461
- Current portion of long-term debt -€23,362
down €23,362 (-27.2%), from €85,787 to €62,424
- Accrued charges and deferred income -€21,316
down €21,316 (-98.2%), from €21,697 to €380
- Gross operating margin -€105,608
down €105,608 (-14.9%), from €710,236 to €604,628
- Staff costs -€27,019
down €27,019 (-7.9%), from €341,568 to €314,548
- Taxes -€21,364
down €21,364 (-31.6%), from €67,623 to €46,259
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 | €1,723,463 | €1,673,111 | -€50,352 | -2.9% |
| Fixed assets | 21/28 | €434,284 | €334,920 | -€99,364 | -22.9% |
| Tangible fixed assets | 22/27 | €404,637 | €305,273 | -€99,364 | -24.6% |
| Land and buildings | 22 | €189,000 | €157,500 | -€31,500 | -16.7% |
| Plant, machinery and equipment | 23 | €7,576 | €4,595 | -€2,980 | -39.3% |
| Furniture and vehicles | 24 | €37,999 | €6,632 | -€31,367 | -82.5% |
| Other tangible fixed assets | 26 | €170,062 | €136,545 | -€33,517 | -19.7% |
| Financial fixed assets | 28 | €29,647 | €29,647 | = | 0.0% |
| Current assets | 29/58 | €1,289,179 | €1,338,191 | +€49,012 | +3.8% |
| Stocks and contracts in progress | 3 | €721,031 | €745,574 | +€24,543 | +3.4% |
| Stocks | 30/36 | €721,031 | €745,574 | +€24,543 | +3.4% |
| Amounts receivable within one year | 40/41 | €11,548 | €21,318 | +€9,770 | +84.6% |
| Trade receivables | 40 | €3,018 | €4,459 | +€1,441 | +47.8% |
| Other amounts receivable | 41 | €8,530 | €16,859 | +€8,329 | +97.6% |
| Current investments | 50/53 | €200,000 | €300,000 | +€100,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €348,955 | €257,851 | -€91,104 | -26.1% |
| Deferred charges and accrued income | 490/1 | €7,645 | €13,449 | +€5,803 | +75.9% |
| Total equity and liabilities | 10/49 | €1,723,463 | €1,673,111 | -€50,352 | -2.9% |
| Equity | 10/15 | €673,892 | €767,903 | +€94,012 | +14.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €611,892 | €705,903 | +€94,012 | +15.4% |
| Non-distributable reserves | 130/1 | €34,100 | €34,100 | = | 0.0% |
| Legal reserve | 130 | €34,100 | €34,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,017 | €18,017 | = | 0.0% |
| Distributable reserves | 133 | €559,775 | €653,786 | +€94,012 | +16.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,049,571 | €905,208 | -€144,363 | -13.8% |
| Amounts payable after more than one year | 17 | €246,707 | €184,283 | -€62,424 | -25.3% |
| Financial debts | 170/4 | €246,707 | €184,283 | -€62,424 | -25.3% |
| Amounts payable within one year | 42/48 | €781,167 | €720,545 | -€60,623 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €85,787 | €62,424 | -€23,362 | -27.2% |
| Trade debts | 44 | €34,186 | €42,505 | +€8,319 | +24.3% |
| Suppliers | 440/4 | €34,186 | €42,505 | +€8,319 | +24.3% |
| Taxes, remuneration and social security | 45 | €123,609 | €108,154 | -€15,455 | -12.5% |
| Taxes | 450/3 | €79,543 | €62,608 | -€16,935 | -21.3% |
| Remuneration and social security | 454/9 | €44,067 | €45,547 | +€1,480 | +3.4% |
| Other amounts payable | 47/48 | €537,585 | €507,461 | -€30,124 | -5.6% |
| Accrued charges and deferred income | 492/3 | €21,697 | €380 | -€21,316 | -98.2% |
| Remuneration, social security and pensions | 62 | €341,568 | €314,548 | -€27,019 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,363 | €100,626 | -€2,736 | -2.6% |
| Other operating charges | 640/8 | €6,904 | €6,538 | -€365 | -5.3% |
| Non-recurring operating charges | 66A | €125 | €80 | -€45 | -36.0% |
| Gross operating margin | 9900 | €710,236 | €604,628 | -€105,608 | -14.9% |
| Operating profit (loss) | 9901 | €258,277 | €182,835 | -€75,442 | -29.2% |
| Financial income | 75/76B | €2,545 | €960 | -€1,585 | -62.3% |
| Recurring financial income | 75 | €2,545 | €960 | -€1,585 | -62.3% |
| Financial charges | 65/66B | €39,293 | €43,525 | +€4,233 | +10.8% |
| Recurring financial charges | 65 | €39,293 | €43,525 | +€4,233 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €221,530 | €140,271 | -€81,259 | -36.7% |
| Income taxes | 67/77 | €67,623 | €46,259 | -€21,364 | -31.6% |
| Profit (loss) for the period | 9904 | €153,907 | €94,012 | -€59,895 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €153,907 | €94,012 | -€59,895 | -38.9% |
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 31 October 2026 via checked.be.