MERCELIS 39: 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
MERCELIS 39
NACE 71.111, Activities of building architects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€31,428
2024 · €43,361-€11,933
Equity
-€305,137
2024 · -€336,565+€31,428
Cash
€41,907
2024 · €34,205+€7,702
Balance sheet total
€1.3m
2024 · €1.4m-€51,544
Largest movements
Assets
- Tangible fixed assets -€58,014
down €58,014 (-4.4%), from €1.3m to €1.2m
of which Land and buildings: -€45,986
Equity and liabilities
- Debts after one year -€54,295
down €54,295 (-9.4%), from €577,710 to €523,415
- Other debts -€42,834
down €42,834 (-4.1%), from €1.1m to €1.0m
- Profit (loss) carried forward +€31,428
up €31,428 (+8.7%), from -€359,743 to -€328,315
Income statement
- Gross operating margin -€18,102
down €18,102 (-11.1%), from €163,091 to €144,989
- Depreciation -€4,728
down €4,728 (-6.6%), from €71,744 to €67,016
- Financial charges -€1,966
down €1,966 (-7.1%), from €27,651 to €25,685
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
€43,361
Gross operating margin
-€18,102
Depreciation
+€4,728
Other operating charges
-€1,383
Other operating items
+€868
Financial income
+€3
Financial charges
+€1,966
Taxes
-€13
Result 2025
€31,428
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
+€68,845
Investment
-€9,003
Financing
-€52,141
Cash 2024
€34,205
From operations (derived)
+€68,845
Net result for the year
+€31,428
Depreciation
+€67,016
Receivables within one year
+€290
Deferred charges and accrued income
+€943
Trade debts
+€8,957
Tax, wage and social debts
-€303
Other debts
-€42,834
Accrued charges and deferred income
+€3,349
Investment (derived)
-€9,003
Investment in fixed assets (net)
-€9,003
Financing
-€52,141
Debts after one year
-€54,295
Current portion of long-term debt
+€2,154
Cash 2025
€41,907
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,355,429 | €1,303,885 | -€51,544 | -3.8% |
| Fixed assets | 21/28 | €1,307,242 | €1,249,228 | -€58,014 | -4.4% |
| Tangible fixed assets | 22/27 | €1,307,242 | €1,249,228 | -€58,014 | -4.4% |
| Land and buildings | 22 | €1,225,492 | €1,179,506 | -€45,986 | -3.8% |
| Plant, machinery and equipment | 23 | €58,072 | €56,175 | -€1,897 | -3.3% |
| Furniture and vehicles | 24 | €23,678 | €13,548 | -€10,130 | -42.8% |
| Current assets | 29/58 | €48,187 | €54,656 | +€6,470 | +13.4% |
| Amounts receivable within one year | 40/41 | €10,384 | €10,094 | -€290 | -2.8% |
| Trade receivables | 40 | €10,384 | €10,094 | -€290 | -2.8% |
| Cash at bank and in hand | 54/58 | €34,205 | €41,907 | +€7,702 | +22.5% |
| Deferred charges and accrued income | 490/1 | €3,598 | €2,655 | -€943 | -26.2% |
| Total equity and liabilities | 10/49 | €1,355,429 | €1,303,885 | -€51,544 | -3.8% |
| Equity | 10/15 | -€336,565 | -€305,137 | +€31,428 | +9.3% |
| Contributions | 10/11 | €21,071 | €21,071 | = | 0.0% |
| Reserves | 13 | €2,107 | €2,107 | = | 0.0% |
| Distributable reserves | 133 | €2,107 | €2,107 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€359,743 | -€328,315 | +€31,428 | +8.7% |
| Amounts payable | 17/49 | €1,691,993 | €1,609,022 | -€82,972 | -4.9% |
| Amounts payable after more than one year | 17 | €577,710 | €523,415 | -€54,295 | -9.4% |
| Financial debts | 170/4 | €577,710 | €523,415 | -€54,295 | -9.4% |
| Amounts payable within one year | 42/48 | €1,113,293 | €1,081,268 | -€32,026 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €52,141 | €54,295 | +€2,154 | +4.1% |
| Trade debts | 44 | €2,764 | €11,721 | +€8,957 | +324% |
| Suppliers | 440/4 | €2,764 | €11,721 | +€8,957 | +324% |
| Taxes, remuneration and social security | 45 | €4,197 | €3,894 | -€303 | -7.2% |
| Taxes | 450/3 | €4,197 | €3,894 | -€303 | -7.2% |
| Other amounts payable | 47/48 | €1,054,191 | €1,011,357 | -€42,834 | -4.1% |
| Accrued charges and deferred income | 492/3 | €990 | €4,339 | +€3,349 | +338% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,744 | €67,016 | -€4,728 | -6.6% |
| Other operating charges | 640/8 | €18,545 | €19,927 | +€1,383 | +7.5% |
| Non-recurring operating charges | 66A | €1,500 | €632 | -€868 | -57.9% |
| Gross operating margin | 9900 | €163,091 | €144,989 | -€18,102 | -11.1% |
| Operating profit (loss) | 9901 | €71,302 | €57,413 | -€13,889 | -19.5% |
| Financial income | 75/76B | €0 | €3 | +€3 | +993% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +993% |
| Financial charges | 65/66B | €27,651 | €25,685 | -€1,966 | -7.1% |
| Recurring financial charges | 65 | €27,651 | €25,685 | -€1,966 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €43,652 | €31,732 | -€11,920 | -27.3% |
| Income taxes | 67/77 | €291 | €304 | +€13 | +4.4% |
| Profit (loss) for the period | 9904 | €43,361 | €31,428 | -€11,933 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,361 | €31,428 | -€11,933 | -27.5% |
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 21 October 2026 via checked.be.