MERCES: 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.
MERCES
Largest movements
- Cash +€92,637
up €92,637 (+50.6%), from €182,996 to €275,633
mainly Net result for the year (+€110,458) and Depreciation (+€20,000)
- Receivables within one year +€37,810
up €37,810 (+443.0%), from €8,534 to €46,345
- Tangible fixed assets -€20,000
down €20,000 (-8.7%), from €231,198 to €211,198
- Profit (loss) carried forward +€110,458
up €110,458 (+34.5%), from €320,085 to €430,543
No income-statement line moved by more than 1% of the activity.
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 | €422,729 | €533,176 | +€110,447 | +26.1% |
| Fixed assets | 21/28 | €231,198 | €211,198 | -€20,000 | -8.7% |
| Tangible fixed assets | 22/27 | €231,198 | €211,198 | -€20,000 | -8.7% |
| Land and buildings | 22 | €231,198 | €211,198 | -€20,000 | -8.7% |
| Current assets | 29/58 | €191,530 | €321,977 | +€130,447 | +68.1% |
| Amounts receivable within one year | 40/41 | €8,534 | €46,345 | +€37,810 | +443.0% |
| Other amounts receivable | 41 | €8,534 | €46,345 | +€37,810 | +443.0% |
| Cash at bank and in hand | 54/58 | €182,996 | €275,633 | +€92,637 | +50.6% |
| Total equity and liabilities | 10/49 | €422,729 | €533,176 | +€110,447 | +26.1% |
| Equity | 10/15 | €422,341 | €532,799 | +€110,458 | +26.2% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Outside capital | 11 | €92,960 | €92,960 | = | 0.0% |
| Other | 1109/19 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €9,296 | €9,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,296 | €9,296 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,296 | €9,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | €320,085 | €430,543 | +€110,458 | +34.5% |
| Amounts payable | 17/49 | €387 | €376 | -€11 | -2.8% |
| Amounts payable within one year | 42/48 | €387 | €376 | -€11 | -2.8% |
| Trade debts | 44 | €387 | €376 | -€11 | -2.8% |
| Suppliers | 440/4 | €387 | €376 | -€11 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,000 | €20,000 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €827 | +€321 | +63.6% |
| Gross operating margin | 9900 | €167,877 | €168,134 | +€257 | +0.2% |
| Operating profit (loss) | 9901 | €147,372 | €147,307 | -€64 | 0.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €147,343 | €147,277 | -€66 | 0.0% |
| Income taxes | 67/77 | €36,836 | €36,819 | -€16 | 0.0% |
| Profit (loss) for the period | 9904 | €110,507 | €110,458 | -€49 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €110,507 | €110,458 | -€49 | 0.0% |
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 2 October 2026 via checked.be.