MENUISERIE 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.
MENUISERIE MERTENS
Largest movements
- Tangible fixed assets -€25,559
down €25,559 (-15.3%), from €167,502 to €141,943
of which Furniture and vehicles: -€26,062
- Cash -€21,428
down €21,428 (-14.6%), from €146,697 to €125,269
mainly Trade debts (-€44,035) and Investment in fixed assets (net) (-€37,531)
- Receivables within one year +€8,869
up €8,869 (+33.6%), from €26,416 to €35,285
of which Trade receivables: +€4,610
- Stocks and contracts +€4,513
up €4,513 (+19.9%), from €22,717 to €27,230
- Deferred charges and accrued income -€4,097
no longer reported in 2025 (was €4,097)
- Trade debts -€44,035
down €44,035 (-91.7%), from €48,039 to €4,004
- Reserves +€31,619
up €31,619 (+25.0%), from €126,319 to €157,938
- Other debts -€20,434
down €20,434 (-19.1%), from €106,918 to €86,484
- Debts after one year -€17,601
down €17,601 (-49.6%), from €35,473 to €17,871
- Tax, wage and social debts +€11,087
up €11,087 (+42.3%), from €26,189 to €37,276
of which Remuneration and social security: +€6,600
- Gross operating margin +€69,465
up €69,465 (+38.4%), from €181,025 to €250,490
- Staff costs +€42,967
up €42,967 (+44.9%), from €95,627 to €138,593
- Taxes +€4,308
up €4,308 (+77.5%), from €5,561 to €9,869
- Depreciation +€4,224
up €4,224 (+6.7%), from €63,067 to €67,291
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 | €375,020 | €333,118 | -€41,901 | -11.2% |
| Formation expenses | 20 | €243 | €43 | -€200 | -82.2% |
| Fixed assets | 21/28 | €174,850 | €145,291 | -€29,559 | -16.9% |
| Intangible fixed assets | 21 | €5,348 | €1,348 | -€4,000 | -74.8% |
| Tangible fixed assets | 22/27 | €167,502 | €141,943 | -€25,559 | -15.3% |
| Plant, machinery and equipment | 23 | €44,122 | €51,577 | +€7,455 | +16.9% |
| Furniture and vehicles | 24 | €98,367 | €72,304 | -€26,062 | -26.5% |
| Leasing and similar rights | 25 | €24,476 | €17,814 | -€6,662 | -27.2% |
| Other tangible fixed assets | 26 | €538 | €248 | -€290 | -53.9% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €199,926 | €187,784 | -€12,142 | -6.1% |
| Stocks and contracts in progress | 3 | €22,717 | €27,230 | +€4,513 | +19.9% |
| Stocks | 30/36 | €22,717 | €27,230 | +€4,513 | +19.9% |
| Amounts receivable within one year | 40/41 | €26,416 | €35,285 | +€8,869 | +33.6% |
| Trade receivables | 40 | €15,687 | €20,298 | +€4,610 | +29.4% |
| Other amounts receivable | 41 | €10,728 | €14,987 | +€4,259 | +39.7% |
| Cash at bank and in hand | 54/58 | €146,697 | €125,269 | -€21,428 | -14.6% |
| Deferred charges and accrued income | 490/1 | €4,097 | - | -€4,097 | |
| Total equity and liabilities | 10/49 | €375,020 | €333,118 | -€41,901 | -11.2% |
| Equity | 10/15 | €136,319 | €167,938 | +€31,619 | +23.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €126,319 | €157,938 | +€31,619 | +25.0% |
| Distributable reserves | 133 | €126,319 | €157,938 | +€31,619 | +25.0% |
| Amounts payable | 17/49 | €238,701 | €165,181 | -€73,520 | -30.8% |
| Amounts payable after more than one year | 17 | €35,473 | €17,871 | -€17,601 | -49.6% |
| Financial debts | 170/4 | €35,473 | €17,871 | -€17,601 | -49.6% |
| Amounts payable within one year | 42/48 | €203,228 | €144,714 | -€58,514 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €22,081 | €16,948 | -€5,133 | -23.2% |
| Trade debts | 44 | €48,039 | €4,004 | -€44,035 | -91.7% |
| Suppliers | 440/4 | €48,039 | €4,004 | -€44,035 | -91.7% |
| Taxes, remuneration and social security | 45 | €26,189 | €37,276 | +€11,087 | +42.3% |
| Taxes | 450/3 | €6,928 | €11,415 | +€4,487 | +64.8% |
| Remuneration and social security | 454/9 | €19,262 | €25,861 | +€6,600 | +34.3% |
| Other amounts payable | 47/48 | €106,918 | €86,484 | -€20,434 | -19.1% |
| Accrued charges and deferred income | 492/3 | - | €2,596 | +€2,596 | |
| Non-recurring operating income | 76A | €3,288 | €100 | -€3,188 | -97.0% |
| Remuneration, social security and pensions | 62 | €95,627 | €138,593 | +€42,967 | +44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,067 | €67,291 | +€4,224 | +6.7% |
| Other operating charges | 640/8 | €1,593 | €2,482 | +€889 | +55.8% |
| Gross operating margin | 9900 | €181,025 | €250,490 | +€69,465 | +38.4% |
| Operating profit (loss) | 9901 | €20,739 | €42,124 | +€21,385 | +103% |
| Financial income | 75/76B | €3,242 | €4,399 | +€1,158 | +35.7% |
| Recurring financial income | 75 | €3,242 | €4,399 | +€1,158 | +35.7% |
| Financial charges | 65/66B | €2,482 | €4,202 | +€1,720 | +69.3% |
| Recurring financial charges | 65 | €2,482 | €4,202 | +€1,720 | +69.3% |
| Profit (loss) for the period before taxes | 9903 | €21,499 | €42,321 | +€20,823 | +96.9% |
| Income taxes | 67/77 | €5,561 | €9,869 | +€4,308 | +77.5% |
| Profit (loss) for the period | 9904 | €15,937 | €32,452 | +€16,514 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €15,937 | €32,452 | +€16,514 | +104% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.