MERCIT: 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.
MERCIT
Largest movements
- Cash -€72,979
down €72,979 (-37.6%), from €194,070 to €121,091
mainly Net result for the year (-€46,922) and Contributions, distributions and other (-€26,915)
- Tangible fixed assets -€20,105
down €20,105 (-30.4%), from €66,069 to €45,964
of which Furniture and vehicles: -€19,582
- Receivables within one year -€6,195
down €6,195 (-15.8%), from €39,202 to €33,007
of which Trade receivables: -€21,899
- Profit (loss) carried forward -€46,922
new in 2025: -€46,922
- Reserves -€26,915
down €26,915 (-12.5%), from €214,819 to €187,904
- Other debts -€22,513
down €22,513 (-43.3%), from €52,012 to €29,499
- Debts after one year -€10,668
down €10,668 (-26.3%), from €40,527 to €29,859
- Tax, wage and social debts +€4,010
up €4,010 (+20.2%), from €19,864 to €23,873
- Gross operating margin -€125,466
down €125,466, from €102,247 to -€23,220
- Turnover -€119,205
down €119,205 (-64.8%), from €184,076 to €64,871
- Taxes -€15,564
down €15,564 (-90.0%), from €17,292 to €1,728
- Purchases and services +€6,262
up €6,262 (+7.7%), from €81,829 to €88,091
- Depreciation -€3,258
down €3,258 (-13.9%), from €23,363 to €20,105
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 | €345,947 | €245,250 | -€100,697 | -29.1% |
| Fixed assets | 21/28 | €66,069 | €45,964 | -€20,105 | -30.4% |
| Tangible fixed assets | 22/27 | €66,069 | €45,964 | -€20,105 | -30.4% |
| Plant, machinery and equipment | 23 | €1,086 | €563 | -€523 | -48.2% |
| Furniture and vehicles | 24 | €64,982 | €45,400 | -€19,582 | -30.1% |
| Current assets | 29/58 | €279,878 | €199,287 | -€80,592 | -28.8% |
| Amounts receivable after more than one year | 29 | €46,095 | €44,513 | -€1,582 | -3.4% |
| Other amounts receivable | 291 | €46,095 | €44,513 | -€1,582 | -3.4% |
| Amounts receivable within one year | 40/41 | €39,202 | €33,007 | -€6,195 | -15.8% |
| Trade receivables | 40 | €36,406 | €14,507 | -€21,899 | -60.2% |
| Other amounts receivable | 41 | €2,796 | €18,500 | +€15,704 | +561.7% |
| Cash at bank and in hand | 54/58 | €194,070 | €121,091 | -€72,979 | -37.6% |
| Deferred charges and accrued income | 490/1 | €512 | €676 | +€164 | +32.0% |
| Total equity and liabilities | 10/49 | €345,947 | €245,250 | -€100,697 | -29.1% |
| Equity | 10/15 | €220,819 | €146,982 | -€73,837 | -33.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Capital | 10 | €6,000 | €6,000 | = | 0.0% |
| Issued capital | 100 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €214,819 | €187,904 | -€26,915 | -12.5% |
| Distributable reserves | 133 | €214,819 | €187,904 | -€26,915 | -12.5% |
| Profit (loss) carried forward | 14 | - | -€46,922 | -€46,922 | |
| Amounts payable | 17/49 | €125,128 | €98,268 | -€26,860 | -21.5% |
| Amounts payable after more than one year | 17 | €40,527 | €29,859 | -€10,668 | -26.3% |
| Financial debts | 170/4 | €40,527 | €29,859 | -€10,668 | -26.3% |
| Amounts payable within one year | 42/48 | €84,601 | €68,409 | -€16,192 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €10,465 | €10,404 | -€61 | -0.6% |
| Trade debts | 44 | €2,260 | €4,633 | +€2,373 | +105.0% |
| Suppliers | 440/4 | €2,260 | €4,633 | +€2,373 | +105.0% |
| Taxes, remuneration and social security | 45 | €19,864 | €23,873 | +€4,010 | +20.2% |
| Taxes | 450/3 | €19,864 | €23,873 | +€4,010 | +20.2% |
| Other amounts payable | 47/48 | €52,012 | €29,499 | -€22,513 | -43.3% |
| Turnover | 70 | €184,076 | €64,871 | -€119,205 | -64.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €81,829 | €88,091 | +€6,262 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,363 | €20,105 | -€3,258 | -13.9% |
| Other operating charges | 640/8 | €603 | €244 | -€359 | -59.5% |
| Gross operating margin | 9900 | €102,247 | -€23,220 | -€125,466 | |
| Operating profit (loss) | 9901 | €78,281 | -€43,569 | -€121,850 | |
| Financial income | 75/76B | €2,579 | €804 | -€1,775 | -68.8% |
| Recurring financial income | 75 | €2,579 | €804 | -€1,775 | -68.8% |
| Financial charges | 65/66B | €2,845 | €2,430 | -€416 | -14.6% |
| Recurring financial charges | 65 | €2,845 | €2,430 | -€416 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €78,014 | -€45,195 | -€123,209 | |
| Income taxes | 67/77 | €17,292 | €1,728 | -€15,564 | -90.0% |
| Profit (loss) for the period | 9904 | €60,723 | -€46,922 | -€107,645 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,723 | -€46,922 | -€107,645 |
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 3 October 2026 via checked.be.