MARCO MERTENS: what changed
MARCO MERTENS
Largest movements
- Cash +€42,441
up €42,441 (+22.1%), from €191,789 to €234,230
mainly Net result for the year (+€31,581) and Receivables within one year (+€19,162)
- Receivables within one year -€19,162
down €19,162 (-32.6%), from €58,815 to €39,653
of which Trade receivables: -€12,553
- Tangible fixed assets +€3,365
up €3,365 (+61.4%), from €5,484 to €8,849
of which Furniture and vehicles: +€4,940
- Reserves +€31,581
up €31,581 (+15.2%), from €207,608 to €239,189
of which Distributable reserves: +€31,581
- Other debts -€6,031
down €6,031 (-43.8%), from €13,758 to €7,727
- Gross operating margin +€25,656
up €25,656 (+103%), from €24,861 to €50,516
- Taxes +€6,741
up €6,741 (+102%), from €6,628 to €13,369
- Depreciation +€1,128
up €1,128 (+48.6%), from €2,322 to €3,450
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,635 | €287,362 | +€26,727 | +10.3% |
| Fixed assets | 21/28 | €5,484 | €8,849 | +€3,365 | +61.4% |
| Tangible fixed assets | 22/27 | €5,484 | €8,849 | +€3,365 | +61.4% |
| Plant, machinery and equipment | 23 | €2,063 | €758 | -€1,305 | -63.2% |
| Furniture and vehicles | 24 | €1,681 | €6,621 | +€4,940 | +294% |
| Other tangible fixed assets | 26 | €1,740 | €1,470 | -€270 | -15.5% |
| Current assets | 29/58 | €255,151 | €278,513 | +€23,362 | +9.2% |
| Amounts receivable within one year | 40/41 | €58,815 | €39,653 | -€19,162 | -32.6% |
| Trade receivables | 40 | €50,321 | €37,768 | -€12,553 | -24.9% |
| Other amounts receivable | 41 | €8,494 | €1,884 | -€6,610 | -77.8% |
| Cash at bank and in hand | 54/58 | €191,789 | €234,230 | +€42,441 | +22.1% |
| Deferred charges and accrued income | 490/1 | €4,547 | €4,630 | +€83 | +1.8% |
| Total equity and liabilities | 10/49 | €260,635 | €287,362 | +€26,727 | +10.3% |
| Equity | 10/15 | €240,001 | €270,750 | +€30,748 | +12.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €207,608 | €239,189 | +€31,581 | +15.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €4,924 | €4,924 | = | 0.0% |
| Distributable reserves | 133 | €202,684 | €234,266 | +€31,581 | +15.6% |
| Profit (loss) carried forward | 14 | €12,393 | €11,560 | -€833 | -6.7% |
| Amounts payable | 17/49 | €20,633 | €16,613 | -€4,021 | -19.5% |
| Amounts payable within one year | 42/48 | €20,633 | €16,613 | -€4,021 | -19.5% |
| Trade debts | 44 | €3,224 | €4,733 | +€1,508 | +46.8% |
| Suppliers | 440/4 | €3,224 | €4,733 | +€1,508 | +46.8% |
| Taxes, remuneration and social security | 45 | €3,651 | €4,153 | +€502 | +13.7% |
| Taxes | 450/3 | €3,651 | €4,153 | +€502 | +13.7% |
| Other amounts payable | 47/48 | €13,758 | €7,727 | -€6,031 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,322 | €3,450 | +€1,128 | +48.6% |
| Other operating charges | 640/8 | €1,303 | €961 | -€341 | -26.2% |
| Gross operating margin | 9900 | €24,861 | €50,516 | +€25,656 | +103% |
| Operating profit (loss) | 9901 | €21,237 | €46,105 | +€24,869 | +117% |
| Financial income | 75/76B | €432 | €767 | +€335 | +77.5% |
| Recurring financial income | 75 | €432 | €767 | +€335 | +77.5% |
| Financial charges | 65/66B | €1,572 | €1,922 | +€350 | +22.2% |
| Recurring financial charges | 65 | €1,572 | €1,922 | +€350 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €20,096 | €44,950 | +€24,854 | +124% |
| Income taxes | 67/77 | €6,628 | €13,369 | +€6,741 | +102% |
| Profit (loss) for the period | 9904 | €13,468 | €31,581 | +€18,113 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €13,468 | €31,581 | +€18,113 | +134% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.