MERCATOR CONSTRUCT: 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 CONSTRUCT
Largest movements
- Stocks and contracts -€704,077
down €704,077 (-100.0%), from €704,077 to €0
- Current investments +€500,000
new in 2025: €500,000
- Cash -€227,740
down €227,740 (-92.4%), from €246,489 to €18,748
mainly Current investments (-€500,000) and Debts after one year (-€340,713)
- Receivables within one year +€134,763
up €134,763 (+425.3%), from €31,685 to €166,448
of which Trade receivables: +€160,586
- Financial fixed assets +€110,305
new in 2025: €110,305
- Debts after one year -€340,713
down €340,713 (-99.8%), from €341,452 to €739
- Advances received +€221,165
new in 2025: €221,165
- Trade debts -€183,304
down €183,304 (-30.8%), from €596,070 to €412,766
- Other debts +€43,128
up €43,128 (+324.0%), from €13,313 to €56,441
- Tax, wage and social debts +€41,868
new in 2025: €41,868
- Financial charges -€37,464
down €37,464 (-78.6%), from €47,659 to €10,195
- Gross operating margin +€11,396
up €11,396 (+44.9%), from €25,383 to €36,779
- Financial income +€4,639
up €4,639 (+424.7%), from €1,092 to €5,731
- Taxes +€697
new in 2025: €697
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 | €983,825 | €796,569 | -€187,256 | -19.0% |
| Formation expenses | 20 | €1,442 | €951 | -€491 | -34.1% |
| Fixed assets | 21/28 | - | €110,305 | +€110,305 | |
| Financial fixed assets | 28 | - | €110,305 | +€110,305 | |
| Current assets | 29/58 | €982,382 | €685,313 | -€297,069 | -30.2% |
| Stocks and contracts in progress | 3 | €704,077 | €0 | -€704,077 | -100.0% |
| Contracts in progress | 37 | €704,077 | €0 | -€704,077 | -100.0% |
| Amounts receivable within one year | 40/41 | €31,685 | €166,448 | +€134,763 | +425.3% |
| Trade receivables | 40 | €38 | €160,624 | +€160,586 | +423710.4% |
| Other amounts receivable | 41 | €31,647 | €5,824 | -€25,823 | -81.6% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €246,489 | €18,748 | -€227,740 | -92.4% |
| Deferred charges and accrued income | 490/1 | €132 | €117 | -€15 | -11.4% |
| Total equity and liabilities | 10/49 | €983,825 | €796,569 | -€187,256 | -19.0% |
| Equity | 10/15 | €32,991 | €63,591 | +€30,600 | +92.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €2,091 | +€2,091 | |
| Non-distributable reserves | 130/1 | - | €105 | +€105 | |
| Legal reserve | 130 | - | €105 | +€105 | |
| Distributable reserves | 133 | - | €1,986 | +€1,986 | |
| Profit (loss) carried forward | 14 | -€28,509 | €0 | +€28,509 | |
| Amounts payable | 17/49 | €950,834 | €732,978 | -€217,856 | -22.9% |
| Amounts payable after more than one year | 17 | €341,452 | €739 | -€340,713 | -99.8% |
| Financial debts | 170/4 | €341,452 | €739 | -€340,713 | -99.8% |
| Amounts payable within one year | 42/48 | €609,382 | €732,239 | +€122,857 | +20.2% |
| Trade debts | 44 | €596,070 | €412,766 | -€183,304 | -30.8% |
| Suppliers | 440/4 | €596,070 | €412,766 | -€183,304 | -30.8% |
| Advances received on contracts in progress | 46 | - | €221,165 | +€221,165 | |
| Taxes, remuneration and social security | 45 | - | €41,868 | +€41,868 | |
| Taxes | 450/3 | - | €41,868 | +€41,868 | |
| Other amounts payable | 47/48 | €13,313 | €56,441 | +€43,128 | +324.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €491 | €491 | = | 0.0% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €25,383 | €36,779 | +€11,396 | +44.9% |
| Operating profit (loss) | 9901 | €24,378 | €35,760 | +€11,382 | +46.7% |
| Financial income | 75/76B | €1,092 | €5,731 | +€4,639 | +424.7% |
| Recurring financial income | 75 | €1,092 | €5,731 | +€4,639 | +424.7% |
| Financial charges | 65/66B | €47,659 | €10,195 | -€37,464 | -78.6% |
| Recurring financial charges | 65 | €47,659 | €10,195 | -€37,464 | -78.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,188 | €31,297 | +€53,485 | |
| Income taxes | 67/77 | - | €697 | +€697 | |
| Profit (loss) for the period | 9904 | -€22,188 | €30,600 | +€52,788 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,188 | €30,600 | +€52,788 |
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.