Mercatio: 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.
Mercatio
Largest movements
- Current investments +€96,000
up €96,000 (+101.1%), from €95,000 to €191,000
- Cash +€40,429
up €40,429 (+16.2%), from €249,252 to €289,682
mainly Net result for the year (+€134,283) and Tax, wage and social debts (+€7,050)
- Reserves +€133,424
up €133,424 (+27.0%), from €493,678 to €627,102
- Tax, wage and social debts +€7,050
up €7,050 (+14.6%), from €48,418 to €55,469
of which Remuneration and social security: +€4,077
- Gross operating margin +€34,043
up €34,043 (+21.6%), from €157,386 to €191,428
- Taxes +€9,860
up €9,860 (+20.8%), from €47,453 to €57,313
- Financial income +€2,093
up €2,093 (+74.1%), from €2,826 to €4,919
of which Financial income: +€3,063
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.
Cash bridge derived
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 | €555,941 | €693,798 | +€137,857 | +24.8% |
| Fixed assets | 21/28 | €9,480 | €6,598 | -€2,882 | -30.4% |
| Tangible fixed assets | 22/27 | €9,480 | €6,598 | -€2,882 | -30.4% |
| Plant, machinery and equipment | 23 | €3,370 | €2,549 | -€822 | -24.4% |
| Furniture and vehicles | 24 | €6,110 | €4,049 | -€2,060 | -33.7% |
| Current assets | 29/58 | €546,461 | €687,200 | +€140,739 | +25.8% |
| Amounts receivable after more than one year | 29 | €180,000 | €180,000 | = | 0.0% |
| Other amounts receivable | 291 | €180,000 | €180,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,209 | €26,058 | +€3,849 | +17.3% |
| Trade receivables | 40 | €22,209 | €24,446 | +€2,237 | +10.1% |
| Other amounts receivable | 41 | - | €1,612 | +€1,612 | |
| Current investments | 50/53 | €95,000 | €191,000 | +€96,000 | +101.1% |
| Cash at bank and in hand | 54/58 | €249,252 | €289,682 | +€40,429 | +16.2% |
| Deferred charges and accrued income | 490/1 | - | €461 | +€461 | |
| Total equity and liabilities | 10/49 | €555,941 | €693,798 | +€137,857 | +24.8% |
| Equity | 10/15 | €499,878 | €633,302 | +€133,424 | +26.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €493,678 | €627,102 | +€133,424 | +27.0% |
| Distributable reserves | 133 | €493,678 | €627,102 | +€133,424 | +27.0% |
| Amounts payable | 17/49 | €56,063 | €60,496 | +€4,433 | +7.9% |
| Amounts payable within one year | 42/48 | €56,063 | €60,496 | +€4,433 | +7.9% |
| Trade debts | 44 | €6,140 | €4,168 | -€1,971 | -32.1% |
| Suppliers | 440/4 | €6,140 | €4,168 | -€1,971 | -32.1% |
| Taxes, remuneration and social security | 45 | €48,418 | €55,469 | +€7,050 | +14.6% |
| Taxes | 450/3 | €48,418 | €51,392 | +€2,974 | +6.1% |
| Remuneration and social security | 454/9 | - | €4,077 | +€4,077 | |
| Other amounts payable | 47/48 | €1,505 | €859 | -€646 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,052 | €2,882 | +€829 | +40.4% |
| Other operating charges | 640/8 | €849 | €930 | +€81 | +9.5% |
| Gross operating margin | 9900 | €157,386 | €191,428 | +€34,043 | +21.6% |
| Operating profit (loss) | 9901 | €154,485 | €187,617 | +€33,132 | +21.4% |
| Financial income | 75/76B | €2,826 | €4,919 | +€2,093 | +74.1% |
| Recurring financial income | 75 | €1,856 | €4,919 | +€3,063 | +165.1% |
| Non-recurring financial income | 76B | €970 | - | -€970 | |
| Financial charges | 65/66B | €848 | €939 | +€91 | +10.8% |
| Recurring financial charges | 65 | €848 | €939 | +€91 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €156,463 | €191,597 | +€35,134 | +22.5% |
| Income taxes | 67/77 | €47,453 | €57,313 | +€9,860 | +20.8% |
| Profit (loss) for the period | 9904 | €109,009 | €134,283 | +€25,274 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €109,009 | €134,283 | +€25,274 | +23.2% |
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 9 October 2026 via checked.be.