MERCAT: 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.
What changed
MERCAT
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€54,135
2024 · -€2,466-€51,669
Equity
€72,951
2024 · €127,086-€54,135
Cash
€32,965
2024 · €74,152-€41,187
Balance sheet total
€692,428
2024 · €760,089-€67,661
Largest movements
Assets
- Cash -€41,187
down €41,187 (-55.5%), from €74,152 to €32,965
mainly Net result for the year (-€54,135) and Investment in fixed assets (net) (-€31,677)
- Tangible fixed assets -€37,037
down €37,037 (-6.6%), from €557,439 to €520,402
of which Land and buildings: -€36,496
- Receivables within one year +€13,965
up €13,965 (+13.8%), from €101,411 to €115,376
of which Trade receivables: +€8,426
Equity and liabilities
- Profit (loss) carried forward -€50,157
down €50,157, from €18,254 to -€31,903
Income statement
- Staff costs +€46,360
up €46,360 (+22.2%), from €208,999 to €255,359
- Depreciation +€7,843
up €7,843 (+12.4%), from €63,185 to €71,028
- Gross operating margin -€6,309
down €6,309 (-2.0%), from €309,565 to €303,256
- Financial income +€5,186
up €5,186 (+453%), from €1,145 to €6,331
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.
Result 2024
-€2,466
Gross operating margin
-€6,309
Staff costs
-€46,360
Depreciation
-€7,843
Write-downs
+€2,554
Other operating charges
-€1,912
Other operating items
+€2,694
Financial income
+€5,186
Financial charges
-€974
Taxes
+€1,295
Result 2025
-€54,135
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€322
Investment
-€31,677
Financing
-€9,188
Cash 2024
€74,152
From operations (derived)
-€322
Net result for the year
-€54,135
Depreciation
+€71,028
Stocks and contracts
-€860
Receivables within one year
-€13,965
Deferred charges and accrued income
+€1,948
Provisions
-€1,326
Trade debts
-€4,558
Tax, wage and social debts
+€3,072
Other debts
-€2,736
Accrued charges and deferred income
+€1,210
Investment (derived)
-€31,677
Investment in fixed assets (net)
-€31,677
Financing
-€9,188
Debts after one year
-€6,559
Current portion of long-term debt
-€2,759
Short-term financial debts
+€130
Cash 2025
€32,965
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €760,089 | €692,428 | -€67,661 | -8.9% |
| Fixed assets | 21/28 | €567,989 | €528,638 | -€39,351 | -6.9% |
| Intangible fixed assets | 21 | €9,585 | €7,271 | -€2,314 | -24.1% |
| Tangible fixed assets | 22/27 | €557,439 | €520,402 | -€37,037 | -6.6% |
| Land and buildings | 22 | €488,133 | €451,637 | -€36,496 | -7.5% |
| Plant, machinery and equipment | 23 | €15,431 | €11,822 | -€3,609 | -23.4% |
| Furniture and vehicles | 24 | €53,875 | €56,943 | +€3,068 | +5.7% |
| Financial fixed assets | 28 | €965 | €965 | = | 0.0% |
| Current assets | 29/58 | €192,100 | €163,790 | -€28,310 | -14.7% |
| Stocks and contracts in progress | 3 | €8,541 | €9,401 | +€860 | +10.1% |
| Stocks | 30/36 | €8,541 | €9,401 | +€860 | +10.1% |
| Amounts receivable within one year | 40/41 | €101,411 | €115,376 | +€13,965 | +13.8% |
| Trade receivables | 40 | €75,982 | €84,408 | +€8,426 | +11.1% |
| Other amounts receivable | 41 | €25,429 | €30,968 | +€5,539 | +21.8% |
| Cash at bank and in hand | 54/58 | €74,152 | €32,965 | -€41,187 | -55.5% |
| Deferred charges and accrued income | 490/1 | €7,996 | €6,048 | -€1,948 | -24.4% |
| Total equity and liabilities | 10/49 | €760,089 | €692,428 | -€67,661 | -8.9% |
| Equity | 10/15 | €127,086 | €72,951 | -€54,135 | -42.6% |
| Contributions | 10/11 | €31,235 | €31,235 | = | 0.0% |
| Contributions outside capital | 11 | €31,235 | €31,235 | = | 0.0% |
| Other | 1109/19 | €31,235 | €31,235 | = | 0.0% |
| Reserves | 13 | €77,597 | €73,619 | -€3,978 | -5.1% |
| Tax-exempt reserves | 132 | €73,553 | €69,575 | -€3,978 | -5.4% |
| Distributable reserves | 133 | €4,044 | €4,044 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,254 | -€31,903 | -€50,157 | |
| Provisions and deferred taxes | 16 | €24,084 | €22,758 | -€1,326 | -5.5% |
| Deferred taxes | 168 | €24,084 | €22,758 | -€1,326 | -5.5% |
| Amounts payable | 17/49 | €608,919 | €596,719 | -€12,200 | -2.0% |
| Amounts payable after more than one year | 17 | €446,907 | €440,348 | -€6,559 | -1.5% |
| Financial debts | 170/4 | €446,907 | €440,348 | -€6,559 | -1.5% |
| Amounts payable within one year | 42/48 | €161,127 | €154,276 | -€6,851 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €34,665 | €31,906 | -€2,759 | -8.0% |
| Financial debts | 43 | - | €130 | +€130 | |
| Credit institutions | 430/8 | - | €130 | +€130 | |
| Trade debts | 44 | €77,637 | €73,079 | -€4,558 | -5.9% |
| Suppliers | 440/4 | €77,637 | €73,079 | -€4,558 | -5.9% |
| Taxes, remuneration and social security | 45 | €40,471 | €43,543 | +€3,072 | +7.6% |
| Taxes | 450/3 | €1,638 | €5,054 | +€3,416 | +209% |
| Remuneration and social security | 454/9 | €38,833 | €38,489 | -€344 | -0.9% |
| Other amounts payable | 47/48 | €8,354 | €5,618 | -€2,736 | -32.8% |
| Accrued charges and deferred income | 492/3 | €885 | €2,095 | +€1,210 | +137% |
| Non-recurring operating income | 76A | €7,020 | €4,959 | -€2,061 | -29.4% |
| Remuneration, social security and pensions | 62 | €208,999 | €255,359 | +€46,360 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,185 | €71,028 | +€7,843 | +12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,554 | - | -€2,554 | |
| Other operating charges | 640/8 | €9,586 | €11,498 | +€1,912 | +19.9% |
| Non-recurring operating charges | 66A | €2,694 | - | -€2,694 | |
| Gross operating margin | 9900 | €309,565 | €303,256 | -€6,309 | -2.0% |
| Operating profit (loss) | 9901 | €22,547 | -€34,629 | -€57,176 | |
| Financial income | 75/76B | €1,145 | €6,331 | +€5,186 | +453% |
| Recurring financial income | 75 | €1,145 | €6,331 | +€5,186 | +453% |
| Financial charges | 65/66B | €26,034 | €27,008 | +€974 | +3.7% |
| Recurring financial charges | 65 | €26,034 | €27,008 | +€974 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,342 | -€55,306 | -€52,964 | -2,261% |
| Transfer from deferred taxes | 780 | €1,326 | €1,326 | = | 0.0% |
| Income taxes | 67/77 | €1,450 | €155 | -€1,295 | -89.3% |
| Profit (loss) for the period | 9904 | -€2,466 | -€54,135 | -€51,669 | -2,095% |
| Transfer from tax-exempt reserves | 789 | €3,978 | €3,978 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,512 | -€50,157 | -€51,669 |
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.