MER DU SUD: what changed
What changed
MER DU SUD
NACE 46.412, Wholesale of household textiles and bedding
filed annual accounts (NBB)
Net result for the year
€69,188
2024 · €77,863-€8,675
Equity
€663,228
2024 · €606,040+€57,188
Cash
€794,618
2024 · €766,494+€28,124
Balance sheet total
€1.0m
2024 · €916,185+€133,274
Largest movements
Assets
- Tangible fixed assets +€126,526
up €126,526 (+64,663%), from €196 to €126,721
- Cash +€28,124
up €28,124 (+3.7%), from €766,494 to €794,618
mainly Debts after one year (+€87,805) and Net result for the year (+€69,188)
- Stocks and contracts -€27,418
down €27,418 (-39.5%), from €69,416 to €41,998
Equity and liabilities
- Debts after one year +€87,805
new in 2025: €87,805
- Reserves +€57,188
up €57,188 (+13.3%), from €431,474 to €488,662
of which Distributable reserves: +€57,188
- Trade debts -€17,807
down €17,807 (-7.3%), from €242,328 to €224,521
- Current portion of long-term debt +€15,173
up €15,173 (+128%), from €11,861 to €27,034
Income statement
- Gross operating margin -€74,693
down €74,693 (-26.7%), from €279,337 to €204,644
- Taxes -€23,399
down €23,399 (-66.0%), from €35,468 to €12,069
- Write-downs -€15,000
down €15,000, from €10,000 to -€5,000
- Staff costs -€8,469
down €8,469 (-7.0%), from €121,092 to €112,624
- Depreciation -€8,261
down €8,261 (-40.2%), from €20,558 to €12,296
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.
Result 2024
€77,863
Gross operating margin
-€74,693
Staff costs
+€8,469
Depreciation
+€8,261
Write-downs
+€15,000
Other operating charges
+€1,486
Financial income
+€3,786
Financial charges
+€5,617
Taxes
+€23,399
Result 2025
€69,188
raises the resultlowers the result
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.
From operations
+€75,968
Investment
-€138,822
Financing
+€90,978
Cash 2024
€766,494
From operations (derived)
+€75,968
Net result for the year
+€69,188
Depreciation
+€12,296
Stocks and contracts
+€27,418
Receivables within one year
-€5,733
Deferred charges and accrued income
-€309
Trade debts
-€17,807
Tax, wage and social debts
-€1,487
Other debts
+€722
Accrued charges and deferred income
-€8,321
Investment (derived)
-€138,822
Investment in fixed assets (net)
-€138,822
Financing
+€90,978
Debts after one year
+€87,805
Current portion of long-term debt
+€15,173
Contributions, distributions and other
-€12,000
Cash 2025
€794,618
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €916,185 | €1,049,459 | +€133,274 | +14.5% |
| Fixed assets | 21/28 | €196 | €126,721 | +€126,526 | +64,663% |
| Tangible fixed assets | 22/27 | €196 | €126,721 | +€126,526 | +64,663% |
| Furniture and vehicles | 24 | €196 | €126,721 | +€126,526 | +64,663% |
| Current assets | 29/58 | €915,990 | €922,738 | +€6,748 | +0.7% |
| Stocks and contracts in progress | 3 | €69,416 | €41,998 | -€27,418 | -39.5% |
| Stocks | 30/36 | €69,416 | €41,998 | -€27,418 | -39.5% |
| Amounts receivable within one year | 40/41 | €73,410 | €79,143 | +€5,733 | +7.8% |
| Trade receivables | 40 | €68,051 | €79,143 | +€11,092 | +16.3% |
| Other amounts receivable | 41 | €5,359 | - | -€5,359 | |
| Current investments | 50/53 | €1,967 | €1,967 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €766,494 | €794,618 | +€28,124 | +3.7% |
| Deferred charges and accrued income | 490/1 | €4,704 | €5,013 | +€309 | +6.6% |
| Total equity and liabilities | 10/49 | €916,185 | €1,049,459 | +€133,274 | +14.5% |
| Equity | 10/15 | €606,040 | €663,228 | +€57,188 | +9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €431,474 | €488,662 | +€57,188 | +13.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €429,614 | €486,802 | +€57,188 | +13.3% |
| Profit (loss) carried forward | 14 | €155,966 | €155,966 | = | 0.0% |
| Amounts payable | 17/49 | €310,145 | €386,231 | +€76,086 | +24.5% |
| Amounts payable after more than one year | 17 | - | €87,805 | +€87,805 | |
| Financial debts | 170/4 | - | €87,805 | +€87,805 | |
| Amounts payable within one year | 42/48 | €299,668 | €296,269 | -€3,399 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €11,861 | €27,034 | +€15,173 | +128% |
| Trade debts | 44 | €242,328 | €224,521 | -€17,807 | -7.3% |
| Suppliers | 440/4 | €242,328 | €224,521 | -€17,807 | -7.3% |
| Taxes, remuneration and social security | 45 | €45,479 | €43,992 | -€1,487 | -3.3% |
| Taxes | 450/3 | €24,707 | €24,578 | -€129 | -0.5% |
| Remuneration and social security | 454/9 | €20,772 | €19,415 | -€1,357 | -6.5% |
| Other amounts payable | 47/48 | - | €722 | +€722 | |
| Accrued charges and deferred income | 492/3 | €10,477 | €2,156 | -€8,321 | -79.4% |
| Remuneration, social security and pensions | 62 | €121,092 | €112,624 | -€8,469 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,558 | €12,296 | -€8,261 | -40.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | -€5,000 | -€15,000 | |
| Other operating charges | 640/8 | €3,609 | €2,123 | -€1,486 | -41.2% |
| Gross operating margin | 9900 | €279,337 | €204,644 | -€74,693 | -26.7% |
| Operating profit (loss) | 9901 | €124,079 | €82,601 | -€41,478 | -33.4% |
| Financial income | 75/76B | €1,235 | €5,020 | +€3,786 | +307% |
| Recurring financial income | 75 | €1,235 | €5,020 | +€3,786 | +307% |
| Financial charges | 65/66B | €11,982 | €6,365 | -€5,617 | -46.9% |
| Recurring financial charges | 65 | €11,982 | €6,365 | -€5,617 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | €113,332 | €81,257 | -€32,074 | -28.3% |
| Income taxes | 67/77 | €35,468 | €12,069 | -€23,399 | -66.0% |
| Profit (loss) for the period | 9904 | €77,863 | €69,188 | -€8,675 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,863 | €69,188 | -€8,675 | -11.1% |
Next steps
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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.