MER UNION: 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 UNION
Largest movements
- Receivables within one year -€1.2m
down €1.2m (-65.7%), from €1.8m to €601,901
of which Trade receivables: -€1.2m
- Deferred charges and accrued income +€943,497
up €943,497 (+1,225%), from €77,041 to €1.0m
- Cash +€106,155
up €106,155 (+358%), from €29,611 to €135,766
mainly Receivables within one year (+€1.2m) and Other debts (+€161,651)
- Trade debts -€459,535
down €459,535 (-23.3%), from €2.0m to €1.5m
- Other debts +€161,651
new in 2025: €161,651
- Profit (loss) carried forward +€153,252
up €153,252 (+12.9%), from -€1.2m to -€1.0m
- Accrued charges and deferred income +€39,605
up €39,605 (+131%), from €30,282 to €69,887
- Purchases and services -€259,031
down €259,031 (-3.6%), from €7.3m to €7.0m
- Turnover -€124,105
down €124,105 (-1.7%), from €7.3m to €7.2m
- Gross operating margin +€116,426
up €116,426 (+145%), from €80,150 to €196,575
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 | €1,863,232 | €1,758,205 | -€105,027 | -5.6% |
| Current assets | 29/58 | €1,863,232 | €1,758,205 | -€105,027 | -5.6% |
| Amounts receivable within one year | 40/41 | €1,756,580 | €601,901 | -€1.2m | -65.7% |
| Trade receivables | 40 | €1,754,251 | €599,740 | -€1.2m | -65.8% |
| Other amounts receivable | 41 | €2,329 | €2,160 | -€169 | -7.3% |
| Cash at bank and in hand | 54/58 | €29,611 | €135,766 | +€106,155 | +358% |
| Deferred charges and accrued income | 490/1 | €77,041 | €1,020,538 | +€943,497 | +1,225% |
| Total equity and liabilities | 10/49 | €1,863,232 | €1,758,205 | -€105,027 | -5.6% |
| Equity | 10/15 | -€637,921 | -€484,669 | +€153,252 | +24.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,187,921 | -€1,034,669 | +€153,252 | +12.9% |
| Amounts payable | 17/49 | €2,501,153 | €2,242,874 | -€258,279 | -10.3% |
| Amounts payable within one year | 42/48 | €2,470,870 | €2,172,986 | -€297,884 | -12.1% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €1,970,870 | €1,511,335 | -€459,535 | -23.3% |
| Suppliers | 440/4 | €1,970,870 | €1,511,335 | -€459,535 | -23.3% |
| Other amounts payable | 47/48 | - | €161,651 | +€161,651 | |
| Accrued charges and deferred income | 492/3 | €30,282 | €69,887 | +€39,605 | +131% |
| Turnover | 70 | €7,314,153 | €7,190,048 | -€124,105 | -1.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €7,252,504 | €6,993,473 | -€259,031 | -3.6% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €80,150 | €196,575 | +€116,426 | +145% |
| Operating profit (loss) | 9901 | €80,032 | €196,455 | +€116,424 | +145% |
| Financial income | 75/76B | €2,658 | €242 | -€2,416 | -90.9% |
| Recurring financial income | 75 | €2,658 | €242 | -€2,416 | -90.9% |
| Financial charges | 65/66B | €70,169 | €43,446 | -€26,723 | -38.1% |
| Recurring financial charges | 65 | €70,169 | €43,446 | -€26,723 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €12,521 | €153,252 | +€140,731 | +1,124% |
| Profit (loss) for the period | 9904 | €12,521 | €153,252 | +€140,731 | +1,124% |
| Profit (loss) for the period to be appropriated | 9905 | €12,521 | €153,252 | +€140,731 | +1,124% |
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 17 October 2026 via checked.be.