MERCKAERT: 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.
MERCKAERT
Largest movements
- Cash +€46,767
up €46,767 (+107.8%), from €43,397 to €90,164
mainly Trade debts (+€60,672) and Depreciation (+€58,705)
- Tangible fixed assets +€40,438
up €40,438 (+41.1%), from €98,293 to €138,730
- Intangible fixed assets -€29,732
down €29,732 (-17.4%), from €170,898 to €141,166
- Receivables within one year -€14,246
down €14,246 (-8.9%), from €160,662 to €146,416
of which Trade receivables: -€12,803
- Stocks and contracts +€10,320
up €10,320 (+38.7%), from €26,700 to €37,020
- Profit (loss) carried forward +€88,252
up €88,252, from -€88,252 to €0
- Trade debts +€60,672
up €60,672 (+26.2%), from €231,540 to €292,212
- Reserves -€51,577
down €51,577 (-32.2%), from €160,203 to €108,626
of which Tax-exempt reserves: -€64,851
- Provisions -€27,330
down €27,330 (-100.0%), from €27,330 to €0
- Debts after one year -€25,899
down €25,899 (-79.5%), from €32,570 to €6,672
- Staff costs -€82,926
down €82,926 (-13.8%), from €599,282 to €516,356
- Taxes +€35,217
up €35,217 (+274.1%), from €12,847 to €48,064
- Gross operating margin -€21,420
down €21,420 (-3.2%), from €670,398 to €648,978
- Financial income -€12,017
down €12,017 (-84.5%), from €14,221 to €2,204
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €611,765 | €657,102 | +€45,337 | +7.4% |
| Fixed assets | 21/28 | €269,190 | €279,896 | +€10,706 | +4.0% |
| Intangible fixed assets | 21 | €170,898 | €141,166 | -€29,732 | -17.4% |
| Tangible fixed assets | 22/27 | €98,293 | €138,730 | +€40,438 | +41.1% |
| Land and buildings | 22 | €33,221 | €29,999 | -€3,222 | -9.7% |
| Plant, machinery and equipment | 23 | €49,789 | €64,319 | +€14,530 | +29.2% |
| Furniture and vehicles | 24 | €15,282 | €26,454 | +€11,172 | +73.1% |
| Other tangible fixed assets | 26 | - | €17,958 | +€17,958 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €342,574 | €377,205 | +€34,631 | +10.1% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €26,700 | €37,020 | +€10,320 | +38.7% |
| Stocks | 30/36 | €26,700 | €37,020 | +€10,320 | +38.7% |
| Amounts receivable within one year | 40/41 | €160,662 | €146,416 | -€14,246 | -8.9% |
| Trade receivables | 40 | €154,253 | €141,450 | -€12,803 | -8.3% |
| Other amounts receivable | 41 | €6,408 | €4,966 | -€1,443 | -22.5% |
| Cash at bank and in hand | 54/58 | €43,397 | €90,164 | +€46,767 | +107.8% |
| Deferred charges and accrued income | 490/1 | €36,815 | €28,605 | -€8,210 | -22.3% |
| Total equity and liabilities | 10/49 | €611,765 | €657,102 | +€45,337 | +7.4% |
| Equity | 10/15 | €96,740 | €133,415 | +€36,675 | +37.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €160,203 | €108,626 | -€51,577 | -32.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €64,851 | €0 | -€64,851 | -100.0% |
| Distributable reserves | 133 | €95,351 | €108,626 | +€13,274 | +13.9% |
| Profit (loss) carried forward | 14 | -€88,252 | €0 | +€88,252 | |
| Provisions and deferred taxes | 16 | €27,330 | €0 | -€27,330 | -100.0% |
| Deferred taxes | 168 | €27,330 | €0 | -€27,330 | -100.0% |
| Amounts payable | 17/49 | €487,695 | €523,686 | +€35,991 | +7.4% |
| Amounts payable after more than one year | 17 | €32,570 | €6,672 | -€25,899 | -79.5% |
| Financial debts | 170/4 | €32,570 | €6,672 | -€25,899 | -79.5% |
| Amounts payable within one year | 42/48 | €437,125 | €481,015 | +€43,890 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €24,682 | €25,899 | +€1,216 | +4.9% |
| Financial debts | 43 | €2,523 | €0 | -€2,523 | -100.0% |
| Credit institutions | 430/8 | €2,523 | €0 | -€2,523 | -100.0% |
| Trade debts | 44 | €231,540 | €292,212 | +€60,672 | +26.2% |
| Suppliers | 440/4 | €231,540 | €292,212 | +€60,672 | +26.2% |
| Taxes, remuneration and social security | 45 | €152,420 | €144,502 | -€7,918 | -5.2% |
| Taxes | 450/3 | €40,267 | €60,586 | +€20,318 | +50.5% |
| Remuneration and social security | 454/9 | €112,153 | €83,916 | -€28,236 | -25.2% |
| Other amounts payable | 47/48 | €25,960 | €18,402 | -€7,558 | -29.1% |
| Accrued charges and deferred income | 492/3 | €18,000 | €36,000 | +€18,000 | +100.0% |
| Non-recurring operating income | 76A | €413 | €0 | -€413 | -100.0% |
| Remuneration, social security and pensions | 62 | €599,282 | €516,356 | -€82,926 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,658 | €58,705 | +€6,047 | +11.5% |
| Other operating charges | 640/8 | €11,810 | €7,311 | -€4,500 | -38.1% |
| Gross operating margin | 9900 | €670,398 | €648,978 | -€21,420 | -3.2% |
| Operating profit (loss) | 9901 | €6,647 | €66,606 | +€59,958 | +902.0% |
| Financial income | 75/76B | €14,221 | €2,204 | -€12,017 | -84.5% |
| Recurring financial income | 75 | €14,221 | €2,204 | -€12,017 | -84.5% |
| Financial charges | 65/66B | €8,397 | €11,400 | +€3,004 | +35.8% |
| Recurring financial charges | 65 | €8,397 | €11,400 | +€3,004 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €12,472 | €57,410 | +€44,938 | +360.3% |
| Transfer from deferred taxes | 780 | €268 | €27,330 | +€27,062 | +10101.1% |
| Income taxes | 67/77 | €12,847 | €48,064 | +€35,217 | +274.1% |
| Profit (loss) for the period | 9904 | -€107 | €36,675 | +€36,782 | |
| Transfer from tax-exempt reserves | 789 | €804 | €64,851 | +€64,047 | +7968.7% |
| Profit (loss) for the period to be appropriated | 9905 | €697 | €101,527 | +€100,830 | +14471.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.