MERCATOR: what changed
Two fiscal 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.
MERCATOR
Largest movements
- Cash +€22,500
up €22,500 (+59.5%), from €37,827 to €60,327
mainly Receivables within one year (+€13,147) and Trade debts (+€7,690)
- Receivables within one year -€13,147
down €13,147 (-28.6%), from €45,932 to €32,784
of which Other amounts receivable: -€13,327
- Trade debts +€7,690
up €7,690 (+226.6%), from €3,394 to €11,084
- Profit (loss) carried forward +€4,799
up €4,799 (+23.6%), from €20,372 to €25,170
- Tax, wage and social debts -€4,152
down €4,152 (-29.8%), from €13,935 to €9,783
of which Taxes: -€4,334
- Gross operating margin +€2,538
up €2,538 (+7.5%), from €33,753 to €36,290
- Other operating charges -€2,086
down €2,086 (-57.0%), from €3,659 to €1,573
- Taxes +€1,862
new in 2025: €1,862
- Staff costs -€865
down €865 (-3.1%), from €27,547 to €26,681
- Financial income -€536
down €536 (-90.7%), from €591 to €55
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 | €133,570 | €142,171 | +€8,601 | +6.4% |
| Fixed assets | 21/28 | €3,812 | €3,061 | -€751 | -19.7% |
| Tangible fixed assets | 22/27 | €3,312 | €2,561 | -€751 | -22.7% |
| Plant, machinery and equipment | 23 | €3,312 | €2,334 | -€977 | -29.5% |
| Furniture and vehicles | 24 | - | €226 | +€226 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €129,759 | €139,111 | +€9,352 | +7.2% |
| Amounts receivable after more than one year | 29 | €46,000 | €46,000 | = | 0.0% |
| Other amounts receivable | 291 | €46,000 | €46,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,932 | €32,784 | -€13,147 | -28.6% |
| Trade receivables | 40 | - | €179 | +€179 | |
| Other amounts receivable | 41 | €45,932 | €32,605 | -€13,327 | -29.0% |
| Cash at bank and in hand | 54/58 | €37,827 | €60,327 | +€22,500 | +59.5% |
| Total equity and liabilities | 10/49 | €133,570 | €142,171 | +€8,601 | +6.4% |
| Equity | 10/15 | €116,242 | €121,041 | +€4,799 | +4.1% |
| Contributions | 10/11 | €6,701 | €6,701 | = | 0.0% |
| Reserves | 13 | €89,169 | €89,169 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,359 | €2,359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,359 | €2,359 | = | 0.0% |
| Distributable reserves | 133 | €86,810 | €86,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,372 | €25,170 | +€4,799 | +23.6% |
| Amounts payable | 17/49 | €17,329 | €21,131 | +€3,802 | +21.9% |
| Amounts payable after more than one year | 17 | - | €264 | +€264 | |
| Other amounts payable | 178/9 | - | €264 | +€264 | |
| Amounts payable within one year | 42/48 | €17,329 | €20,867 | +€3,538 | +20.4% |
| Trade debts | 44 | €3,394 | €11,084 | +€7,690 | +226.6% |
| Suppliers | 440/4 | €3,394 | €11,084 | +€7,690 | +226.6% |
| Taxes, remuneration and social security | 45 | €13,935 | €9,783 | -€4,152 | -29.8% |
| Taxes | 450/3 | €13,879 | €9,545 | -€4,334 | -31.2% |
| Remuneration and social security | 454/9 | €56 | €238 | +€182 | +326.8% |
| Remuneration, social security and pensions | 62 | €27,547 | €26,681 | -€865 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,405 | €991 | -€414 | -29.5% |
| Other operating charges | 640/8 | €3,659 | €1,573 | -€2,086 | -57.0% |
| Gross operating margin | 9900 | €33,753 | €36,290 | +€2,538 | +7.5% |
| Operating profit (loss) | 9901 | €1,142 | €7,045 | +€5,903 | +516.9% |
| Financial income | 75/76B | €591 | €55 | -€536 | -90.7% |
| Recurring financial income | 75 | €591 | €55 | -€536 | -90.7% |
| Financial charges | 65/66B | €475 | €439 | -€36 | -7.6% |
| Recurring financial charges | 65 | €475 | €439 | -€36 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €1,258 | €6,661 | +€5,403 | +429.5% |
| Income taxes | 67/77 | - | €1,862 | +€1,862 | |
| Profit (loss) for the period | 9904 | €1,258 | €4,799 | +€3,541 | +281.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,258 | €4,799 | +€3,541 | +281.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.