Mer & Co: 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.
Mer & Co
Largest movements
- Cash -€80,456
down €80,456 (-28.0%), from €287,294 to €206,839
mainly Contributions, distributions and other (-€157,242) and Debts after one year (-€120,000)
- Receivables within one year -€52,217
down €52,217 (-74.7%), from €69,896 to €17,679
of which Trade receivables: -€57,498
- Tangible fixed assets -€11,299
down €11,299 (-8.8%), from €127,713 to €116,414
of which Land and buildings: -€12,675
- Debts after one year -€120,000
down €120,000 (-60.0%), from €200,000 to €80,000
- Reserves -€77,275
down €77,275 (-49.1%), from €157,242 to €79,966
- Other debts +€57,674
up €57,674 (+74.3%), from €77,657 to €135,331
- Tax, wage and social debts -€20,018
down €20,018 (-73.0%), from €27,414 to €7,396
of which Taxes: -€23,093
- Accrued charges and deferred income +€15,387
up €15,387 (+855%), from €1,800 to €17,187
- Gross operating margin +€25,783
up €25,783 (+24.2%), from €106,528 to €132,311
- Taxes +€15,324
up €15,324 (+86.8%), from €17,656 to €32,980
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 | €485,325 | €341,230 | -€144,095 | -29.7% |
| Fixed assets | 21/28 | €127,713 | €116,414 | -€11,299 | -8.8% |
| Tangible fixed assets | 22/27 | €127,713 | €116,414 | -€11,299 | -8.8% |
| Land and buildings | 22 | €125,416 | €112,741 | -€12,675 | -10.1% |
| Plant, machinery and equipment | 23 | €1,047 | €698 | -€349 | -33.3% |
| Furniture and vehicles | 24 | €1,250 | €2,975 | +€1,726 | +138% |
| Current assets | 29/58 | €357,612 | €224,816 | -€132,797 | -37.1% |
| Amounts receivable within one year | 40/41 | €69,896 | €17,679 | -€52,217 | -74.7% |
| Trade receivables | 40 | €61,551 | €4,053 | -€57,498 | -93.4% |
| Other amounts receivable | 41 | €8,344 | €13,625 | +€5,281 | +63.3% |
| Cash at bank and in hand | 54/58 | €287,294 | €206,839 | -€80,456 | -28.0% |
| Deferred charges and accrued income | 490/1 | €423 | €298 | -€124 | -29.4% |
| Total equity and liabilities | 10/49 | €485,325 | €341,230 | -€144,095 | -29.7% |
| Equity | 10/15 | €175,842 | €98,566 | -€77,275 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,242 | €79,966 | -€77,275 | -49.1% |
| Distributable reserves | 133 | €157,242 | €79,966 | -€77,275 | -49.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €309,484 | €242,663 | -€66,820 | -21.6% |
| Amounts payable after more than one year | 17 | €200,000 | €80,000 | -€120,000 | -60.0% |
| Other amounts payable | 178/9 | €200,000 | €80,000 | -€120,000 | -60.0% |
| Amounts payable within one year | 42/48 | €107,684 | €145,476 | +€37,793 | +35.1% |
| Trade debts | 44 | €2,613 | €2,750 | +€137 | +5.2% |
| Suppliers | 440/4 | €2,613 | €2,750 | +€137 | +5.2% |
| Taxes, remuneration and social security | 45 | €27,414 | €7,396 | -€20,018 | -73.0% |
| Taxes | 450/3 | €23,093 | €0 | -€23,093 | -100% |
| Remuneration and social security | 454/9 | €4,321 | €7,396 | +€3,075 | +71.2% |
| Other amounts payable | 47/48 | €77,657 | €135,331 | +€57,674 | +74.3% |
| Accrued charges and deferred income | 492/3 | €1,800 | €17,187 | +€15,387 | +855% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,627 | €14,191 | +€564 | +4.1% |
| Other operating charges | 640/8 | €3,069 | €3,243 | +€173 | +5.7% |
| Gross operating margin | 9900 | €106,528 | €132,311 | +€25,783 | +24.2% |
| Operating profit (loss) | 9901 | €89,832 | €114,877 | +€25,045 | +27.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,938 | €1,931 | -€7 | -0.4% |
| Recurring financial charges | 65 | €1,938 | €1,931 | -€7 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €87,895 | €112,946 | +€25,052 | +28.5% |
| Income taxes | 67/77 | €17,656 | €32,980 | +€15,324 | +86.8% |
| Profit (loss) for the period | 9904 | €70,239 | €79,966 | +€9,727 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €70,239 | €79,966 | +€9,727 | +13.8% |
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 27 October 2026 via checked.be.