MERCK: 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.
What changed
MERCK
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.1m-€27,051
Equity
€21.1m
2024 · €20.0m+€1.1m
Cash
€142
2024 · -+€142
Balance sheet total
€26.6m
2024 · €34.3m-€7.7m
Largest movements
Assets
- Receivables within one year -€8.0m
down €8.0m (-31.2%), from €25.6m to €17.6m
of which Other amounts receivable: -€5.3m
Equity and liabilities
- Other debts -€8.0m
down €8.0m (-99.9%), from €8.0m to €9,032
- Profit (loss) carried forward +€1.1m
up €1.1m (+8.6%), from €12.6m to €13.7m
- Tax, wage and social debts -€622,440
down €622,440 (-17.0%), from €3.7m to €3.0m
of which Remuneration and social security: -€625,861
Income statement
- Turnover -€14.7m
down €14.7m (-25.6%), from €57.3m to €42.6m
- Other operating charges -€9.0m
down €9.0m (-50.7%), from €17.8m to €8.8m
- Goods and materials -€5.6m
down €5.6m (-18.1%), from €30.8m to €25.2m
of which Purchases: -€3.5m
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
€1.1m
Turnover
-€14.7m
Other operating income
+€151,812
Goods and materials
+€5.6m
Services and other goods
+€235,905
Staff costs
+€337,318
Depreciation
-€5,028
Write-downs
-€529,749
Other operating charges
+€9.0m
Financial income
-€301,477
Financial charges
+€12,056
Taxes
+€173,939
Result 2025
€1.1m
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.
From operations
+€200,878
Investment
-€200,736
Financing
€0
Cash 2024
€0
From operations (derived)
+€200,878
Net result for the year
+€1.1m
Depreciation
+€109,174
Stocks and contracts
-€210,791
Receivables within one year
+€8.0m
Deferred charges and accrued income
-€35,609
Trade debts
-€113,058
Tax, wage and social debts
-€622,440
Advances received
-€14,550
Other debts
-€8.0m
Investment (derived)
-€200,736
Investment in fixed assets (net)
-€200,736
Cash 2025
€142
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,266,381 | €26,601,850 | -€7.7m | -22.4% |
| Fixed assets | 21/28 | €580,603 | €672,164 | +€91,561 | +15.8% |
| Intangible fixed assets | 21 | €18,554 | €13,885 | -€4,669 | -25.2% |
| Tangible fixed assets | 22/27 | €562,049 | €658,279 | +€96,230 | +17.1% |
| Furniture and vehicles | 24 | €110,101 | €85,713 | -€24,388 | -22.2% |
| Other tangible fixed assets | 26 | €451,948 | €547,937 | +€95,990 | +21.2% |
| Assets under construction and advance payments | 27 | - | €24,628 | +€24,628 | |
| Current assets | 29/58 | €33,685,778 | €25,929,686 | -€7.8m | -23.0% |
| Stocks and contracts in progress | 3 | €8,032,078 | €8,242,869 | +€210,791 | +2.6% |
| Stocks | 30/36 | €8,032,078 | €8,242,869 | +€210,791 | +2.6% |
| Goods purchased for resale | 34 | €8,032,078 | €8,242,869 | +€210,791 | +2.6% |
| Amounts receivable within one year | 40/41 | €25,639,009 | €17,636,374 | -€8.0m | -31.2% |
| Trade receivables | 40 | €9,500,563 | €6,831,050 | -€2.7m | -28.1% |
| Other amounts receivable | 41 | €16,138,445 | €10,805,324 | -€5.3m | -33.0% |
| Cash at bank and in hand | 54/58 | - | €142 | +€142 | |
| Deferred charges and accrued income | 490/1 | €14,691 | €50,300 | +€35,609 | +242.4% |
| Total equity and liabilities | 10/49 | €34,266,381 | €26,601,850 | -€7.7m | -22.4% |
| Equity | 10/15 | €19,976,273 | €21,064,452 | +€1.1m | +5.4% |
| Contributions | 10/11 | €5,273,801 | €5,273,801 | = | 0.0% |
| Capital | 10 | €5,273,801 | €5,273,801 | = | 0.0% |
| Issued capital | 100 | €5,273,801 | €5,273,801 | = | 0.0% |
| Reserves | 13 | €2,073,836 | €2,073,836 | = | 0.0% |
| Non-distributable reserves | 130/1 | €527,380 | €527,380 | = | 0.0% |
| Legal reserve | 130 | €527,380 | €527,380 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,546,456 | €1,546,456 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,628,637 | €13,716,815 | +€1.1m | +8.6% |
| Amounts payable | 17/49 | €14,290,108 | €5,537,398 | -€8.8m | -61.3% |
| Amounts payable within one year | 42/48 | €14,290,108 | €5,537,398 | -€8.8m | -61.3% |
| Trade debts | 44 | €2,348,676 | €2,235,618 | -€113,058 | -4.8% |
| Suppliers | 440/4 | €2,348,676 | €2,235,618 | -€113,058 | -4.8% |
| Advances received on contracts in progress | 46 | €267,172 | €252,622 | -€14,550 | -5.4% |
| Taxes, remuneration and social security | 45 | €3,662,565 | €3,040,126 | -€622,440 | -17.0% |
| Taxes | 450/3 | €5,891 | €9,312 | +€3,421 | +58.1% |
| Remuneration and social security | 454/9 | €3,656,674 | €3,030,814 | -€625,861 | -17.1% |
| Other amounts payable | 47/48 | €8,011,694 | €9,032 | -€8.0m | -99.9% |
| Operating income | 70/76A | €69,667,876 | €55,130,363 | -€14.5m | -20.9% |
| Turnover | 70 | €57,290,534 | €42,601,209 | -€14.7m | -25.6% |
| Other operating income | 74 | €12,377,342 | €12,529,154 | +€151,812 | +1.2% |
| Operating charges | 60/66A | €68,444,687 | €53,818,743 | -€14.6m | -21.4% |
| Goods for resale, raw materials and consumables | 60 | €30,826,172 | €25,239,523 | -€5.6m | -18.1% |
| Purchases | 600/8 | €29,336,217 | €25,877,165 | -€3.5m | -11.8% |
| Change in stocks: decrease (increase) | 609 | €1,489,956 | -€637,642 | -€2.1m | |
| Services and other goods | 61 | €6,733,845 | €6,497,940 | -€235,905 | -3.5% |
| Remuneration, social security and pensions | 62 | €13,121,412 | €12,784,094 | -€337,318 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,146 | €109,174 | +€5,028 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€102,898 | €426,851 | +€529,749 | |
| Other operating charges | 640/8 | €17,762,009 | €8,761,160 | -€9.0m | -50.7% |
| Operating profit (loss) | 9901 | €1,223,189 | €1,311,620 | +€88,431 | +7.2% |
| Financial income | 75/76B | €476,104 | €174,627 | -€301,477 | -63.3% |
| Recurring financial income | 75 | €476,104 | €174,627 | -€301,477 | -63.3% |
| Income from current assets | 751 | €474,869 | €153,315 | -€321,554 | -67.7% |
| Other financial income | 752/9 | €1,235 | €21,312 | +€20,077 | +1625.6% |
| Financial charges | 65/66B | €16,184 | €4,128 | -€12,056 | -74.5% |
| Recurring financial charges | 65 | €16,184 | €4,128 | -€12,056 | -74.5% |
| Other financial charges | 652/9 | €16,184 | €4,128 | -€12,056 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €1,683,109 | €1,482,119 | -€200,991 | -11.9% |
| Income taxes | 67/77 | €567,879 | €393,940 | -€173,939 | -30.6% |
| Taxes | 670/3 | €627,124 | €494,509 | -€132,616 | -21.1% |
| Tax adjustments and reversals of tax provisions | 77 | €59,245 | €100,568 | +€41,324 | +69.8% |
| Profit (loss) for the period | 9904 | €1,115,230 | €1,088,179 | -€27,051 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,115,230 | €1,088,179 | -€27,051 | -2.4% |
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.