MERCALOR: what changed
MERCALOR
Largest movements
- Receivables within one year -€27,451
down €27,451 (-32.5%), from €84,336 to €56,885
of which Trade receivables: -€31,128
- Cash +€6,577
up €6,577 (+87.1%), from €7,555 to €14,131
mainly Receivables within one year (+€27,451) and Net result for the year (+€10,098)
- Tangible fixed assets +€1,250
up €1,250 (+1,271%), from €98 to €1,349
- Trade debts -€37,853
down €37,853 (-97.1%), from €38,989 to €1,136
- Profit (loss) carried forward +€10,098
up €10,098, from €0 to €10,098
- Tax, wage and social debts +€8,896
up €8,896 (+407%), from €2,184 to €11,080
- Taxes +€3,730
up €3,730 (+190%), from €1,968 to €5,698
- Other operating charges -€1,669
down €1,669 (-79.4%), from €2,102 to €432
- Gross operating margin -€433
down €433 (-2.6%), from €16,961 to €16,528
- Financial charges -€402
down €402 (-56.9%), from €707 to €305
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,873 | €76,014 | -€18,858 | -19.9% |
| Fixed assets | 21/28 | €98 | €1,349 | +€1,250 | +1,271% |
| Tangible fixed assets | 22/27 | €98 | €1,349 | +€1,250 | +1,271% |
| Plant, machinery and equipment | 23 | €98 | €1,349 | +€1,250 | +1,271% |
| Current assets | 29/58 | €94,774 | €74,666 | -€20,109 | -21.2% |
| Stocks and contracts in progress | 3 | €2,884 | €2,884 | = | 0.0% |
| Stocks | 30/36 | €2,884 | €2,884 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €84,336 | €56,885 | -€27,451 | -32.5% |
| Trade receivables | 40 | €65,063 | €33,936 | -€31,128 | -47.8% |
| Other amounts receivable | 41 | €19,272 | €22,949 | +€3,677 | +19.1% |
| Cash at bank and in hand | 54/58 | €7,555 | €14,131 | +€6,577 | +87.1% |
| Deferred charges and accrued income | 490/1 | €0 | €765 | +€765 | |
| Total equity and liabilities | 10/49 | €94,873 | €76,014 | -€18,858 | -19.9% |
| Equity | 10/15 | €26,375 | €36,473 | +€10,098 | +38.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,775 | €7,775 | = | 0.0% |
| Distributable reserves | 133 | €7,775 | €7,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €10,098 | +€10,098 | |
| Amounts payable | 17/49 | €68,498 | €39,541 | -€28,956 | -42.3% |
| Amounts payable within one year | 42/48 | €68,498 | €39,541 | -€28,956 | -42.3% |
| Trade debts | 44 | €38,989 | €1,136 | -€37,853 | -97.1% |
| Suppliers | 440/4 | €38,989 | €1,136 | -€37,853 | -97.1% |
| Advances received on contracts in progress | 46 | €19,524 | €19,524 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,184 | €11,080 | +€8,896 | +407% |
| Taxes | 450/3 | €2,184 | €11,080 | +€8,896 | +407% |
| Other amounts payable | 47/48 | €7,801 | €7,801 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137 | - | -€137 | |
| Other operating charges | 640/8 | €2,102 | €432 | -€1,669 | -79.4% |
| Gross operating margin | 9900 | €16,961 | €16,528 | -€433 | -2.6% |
| Operating profit (loss) | 9901 | €14,722 | €16,096 | +€1,374 | +9.3% |
| Financial income | 75/76B | €35 | €5 | -€31 | -86.6% |
| Recurring financial income | 75 | €35 | €5 | -€31 | -86.6% |
| Financial charges | 65/66B | €707 | €305 | -€402 | -56.9% |
| Recurring financial charges | 65 | €707 | €305 | -€402 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €14,050 | €15,796 | +€1,746 | +12.4% |
| Income taxes | 67/77 | €1,968 | €5,698 | +€3,730 | +190% |
| Profit (loss) for the period | 9904 | €12,082 | €10,098 | -€1,984 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,082 | €10,098 | -€1,984 | -16.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.