MERCAZ: 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.
MERCAZ
Largest movements
- Tangible fixed assets -€36,955
down €36,955 (-3.0%), from €1.3m to €1.2m
- Profit (loss) carried forward -€155,379
down €155,379 (-14.1%), from -€1.1m to -€1.3m
- Debts after one year +€104,109
up €104,109 (+4.6%), from €2.3m to €2.4m
of which Other amounts payable: +€158,726
- Financial charges -€3,802
down €3,802 (-4.5%), from €84,095 to €80,293
- Gross operating margin +€3,410
up €3,410 (+15.4%), from -€22,103 to -€18,693
- Other operating charges -€931
down €931 (-4.6%), from €20,368 to €19,437
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,263,221 | €1,216,742 | -€46,479 | -3.7% |
| Fixed assets | 21/28 | €1,251,975 | €1,215,019 | -€36,955 | -3.0% |
| Tangible fixed assets | 22/27 | €1,251,975 | €1,215,019 | -€36,955 | -3.0% |
| Land and buildings | 22 | €1,251,975 | €1,215,019 | -€36,955 | -3.0% |
| Current assets | 29/58 | €11,246 | €1,722 | -€9,524 | -84.7% |
| Cash at bank and in hand | 54/58 | €10,091 | €74 | -€10,017 | -99.3% |
| Deferred charges and accrued income | 490/1 | €1,155 | €1,649 | +€494 | +42.7% |
| Total equity and liabilities | 10/49 | €1,263,221 | €1,216,742 | -€46,479 | -3.7% |
| Equity | 10/15 | -€1,079,642 | -€1,235,021 | -€155,379 | -14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,098,242 | -€1,253,621 | -€155,379 | -14.1% |
| Amounts payable | 17/49 | €2,342,863 | €2,451,763 | +€108,900 | +4.6% |
| Amounts payable after more than one year | 17 | €2,282,066 | €2,386,175 | +€104,109 | +4.6% |
| Financial debts | 170/4 | €776,175 | €721,557 | -€54,617 | -7.0% |
| Other amounts payable | 178/9 | €1,505,891 | €1,664,617 | +€158,726 | +10.5% |
| Amounts payable within one year | 42/48 | €60,797 | €65,588 | +€4,791 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €53,441 | €54,617 | +€1,177 | +2.2% |
| Trade debts | 44 | €7,356 | €10,971 | +€3,615 | +49.1% |
| Suppliers | 440/4 | €7,356 | €10,971 | +€3,615 | +49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,955 | €36,955 | = | 0.0% |
| Other operating charges | 640/8 | €20,368 | €19,437 | -€931 | -4.6% |
| Gross operating margin | 9900 | -€22,103 | -€18,693 | +€3,410 | +15.4% |
| Operating profit (loss) | 9901 | -€79,427 | -€75,086 | +€4,341 | +5.5% |
| Financial charges | 65/66B | €84,095 | €80,293 | -€3,802 | -4.5% |
| Recurring financial charges | 65 | €84,095 | €80,293 | -€3,802 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€163,522 | -€155,379 | +€8,143 | +5.0% |
| Profit (loss) for the period | 9904 | -€163,522 | -€155,379 | +€8,143 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€163,522 | -€155,379 | +€8,143 | +5.0% |
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 18 October 2026 via checked.be.