MER-FINANCE: 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-FINANCE
Largest movements
- Receivables within one year +€7,020
up €7,020 (+84.9%), from €8,265 to €15,285
- Tangible fixed assets -€665
down €665 (-34.2%), from €1,941 to €1,277
- Profit (loss) carried forward +€19,265
up €19,265 (+69.2%), from €27,836 to €47,101
- Tax, wage and social debts -€8,593
down €8,593 (-98.4%), from €8,735 to €142
- Trade debts -€4,378
down €4,378 (-41.8%), from €10,472 to €6,094
- Gross operating margin +€39,873
up €39,873, from -€19,106 to €20,767
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 | €59,042 | €65,736 | +€6,694 | +11.3% |
| Fixed assets | 21/28 | €1,941 | €1,277 | -€665 | -34.2% |
| Tangible fixed assets | 22/27 | €1,941 | €1,277 | -€665 | -34.2% |
| Plant, machinery and equipment | 23 | €1,941 | €1,277 | -€665 | -34.2% |
| Current assets | 29/58 | €57,101 | €64,460 | +€7,359 | +12.9% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Trade receivables | 290 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,265 | €15,285 | +€7,020 | +84.9% |
| Other amounts receivable | 41 | €8,265 | €15,285 | +€7,020 | +84.9% |
| Cash at bank and in hand | 54/58 | €18,336 | €18,029 | -€307 | -1.7% |
| Deferred charges and accrued income | 490/1 | €500 | €1,146 | +€646 | +129% |
| Total equity and liabilities | 10/49 | €59,042 | €65,736 | +€6,694 | +11.3% |
| Equity | 10/15 | €39,836 | €59,101 | +€19,265 | +48.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,836 | €47,101 | +€19,265 | +69.2% |
| Amounts payable | 17/49 | €19,207 | €6,636 | -€12,571 | -65.5% |
| Amounts payable within one year | 42/48 | €19,207 | €6,236 | -€12,971 | -67.5% |
| Trade debts | 44 | €10,472 | €6,094 | -€4,378 | -41.8% |
| Suppliers | 440/4 | €10,472 | €6,094 | -€4,378 | -41.8% |
| Taxes, remuneration and social security | 45 | €8,735 | €142 | -€8,593 | -98.4% |
| Taxes | 450/3 | €8,735 | €142 | -€8,593 | -98.4% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €971 | €1,124 | +€153 | +15.7% |
| Other operating charges | 640/8 | €55 | €55 | = | 0.0% |
| Gross operating margin | 9900 | -€19,106 | €20,767 | +€39,873 | |
| Operating profit (loss) | 9901 | -€20,132 | €19,588 | +€39,720 | |
| Financial charges | 65/66B | €147 | €181 | +€34 | +23.3% |
| Recurring financial charges | 65 | €147 | €181 | +€34 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,279 | €19,407 | +€39,686 | |
| Income taxes | 67/77 | €56 | €142 | +€86 | +153% |
| Profit (loss) for the period | 9904 | -€20,335 | €19,265 | +€39,600 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,335 | €19,265 | +€39,600 |
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 30 October 2026 via checked.be.