Mercken Management: 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.
Mercken Management
Largest movements
- Current investments +€900,000
up €900,000 (+300%), from €300,000 to €1.2m
- Receivables after one year +€729,046
up €729,046, from €0 to €729,046
- Cash +€239,920
up €239,920 (+274%), from €87,646 to €327,566
mainly Net result for the year (+€2.0m) and Accrued charges and deferred income (+€208,819)
- Financial fixed assets -€140,800
down €140,800 (-57.2%), from €246,034 to €105,234
- Reserves +€1.8m
up €1.8m (+138%), from €1.3m to €3.0m
of which Distributable reserves: +€1.8m
- Other debts -€224,828
down €224,828 (-95.8%), from €234,597 to €9,768
- Accrued charges and deferred income +€208,819
up €208,819 (+36,381%), from €574 to €209,393
- Financial income +€2.1m
up €2.1m (+4,855%), from €43,291 to €2.1m
- Gross operating margin -€134,208
down €134,208 (-92.7%), from €144,811 to €10,603
- Other operating charges -€35,684
down €35,684 (-91.6%), from €38,944 to €3,260
- Taxes +€21,219
up €21,219 (+262%), from €8,091 to €29,310
- Depreciation +€21,050
up €21,050 (+20.5%), from €102,519 to €123,569
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,350,039 | €4,054,876 | +€1.7m | +72.5% |
| Fixed assets | 21/28 | €1,682,706 | €1,559,538 | -€123,168 | -7.3% |
| Tangible fixed assets | 22/27 | €1,436,672 | €1,454,304 | +€17,632 | +1.2% |
| Land and buildings | 22 | €1,334,826 | €1,370,688 | +€35,862 | +2.7% |
| Plant, machinery and equipment | 23 | €5,546 | €3,771 | -€1,775 | -32.0% |
| Furniture and vehicles | 24 | €96,299 | €79,845 | -€16,454 | -17.1% |
| Financial fixed assets | 28 | €246,034 | €105,234 | -€140,800 | -57.2% |
| Current assets | 29/58 | €667,334 | €2,495,338 | +€1.8m | +274% |
| Amounts receivable after more than one year | 29 | €0 | €729,046 | +€729,046 | |
| Other amounts receivable | 291 | €0 | €729,046 | +€729,046 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €266,460 | €233,107 | -€33,353 | -12.5% |
| Trade receivables | 40 | €25,930 | €29,776 | +€3,847 | +14.8% |
| Other amounts receivable | 41 | €240,531 | €203,331 | -€37,200 | -15.5% |
| Current investments | 50/53 | €300,000 | €1,200,000 | +€900,000 | +300% |
| Cash at bank and in hand | 54/58 | €87,646 | €327,566 | +€239,920 | +274% |
| Deferred charges and accrued income | 490/1 | €13,227 | €5,618 | -€7,609 | -57.5% |
| Total equity and liabilities | 10/49 | €2,350,039 | €4,054,876 | +€1.7m | +72.5% |
| Equity | 10/15 | €1,286,894 | €3,048,608 | +€1.8m | +137% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,274,394 | €3,036,108 | +€1.8m | +138% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,272,534 | €3,036,108 | +€1.8m | +139% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,063,145 | €1,006,268 | -€56,878 | -5.3% |
| Amounts payable after more than one year | 17 | €679,037 | €640,508 | -€38,530 | -5.7% |
| Financial debts | 170/4 | €679,037 | €640,508 | -€38,530 | -5.7% |
| Amounts payable within one year | 42/48 | €383,534 | €156,367 | -€227,167 | -59.2% |
| Current portion of amounts payable after more than one year | 42 | €124,365 | €99,771 | -€24,594 | -19.8% |
| Trade debts | 44 | €10,072 | €13,492 | +€3,420 | +34.0% |
| Suppliers | 440/4 | €10,072 | €13,492 | +€3,420 | +34.0% |
| Taxes, remuneration and social security | 45 | €14,500 | €33,336 | +€18,835 | +130% |
| Taxes | 450/3 | €14,500 | €33,336 | +€18,835 | +130% |
| Other amounts payable | 47/48 | €234,597 | €9,768 | -€224,828 | -95.8% |
| Accrued charges and deferred income | 492/3 | €574 | €209,393 | +€208,819 | +36,381% |
| Non-recurring operating income | 76A | €2,413 | €0 | -€2,413 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,519 | €123,569 | +€21,050 | +20.5% |
| Other operating charges | 640/8 | €38,944 | €3,260 | -€35,684 | -91.6% |
| Non-recurring operating charges | 66A | €0 | €756 | +€756 | |
| Gross operating margin | 9900 | €144,811 | €10,603 | -€134,208 | -92.7% |
| Operating profit (loss) | 9901 | €3,348 | -€116,983 | -€120,331 | |
| Financial income | 75/76B | €43,291 | €2,144,910 | +€2.1m | +4,855% |
| Recurring financial income | 75 | €43,291 | €2,144,910 | +€2.1m | +4,855% |
| Financial charges | 65/66B | €37,493 | €29,140 | -€8,353 | -22.3% |
| Recurring financial charges | 65 | €37,493 | €29,140 | -€8,353 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €9,146 | €1,998,788 | +€2.0m | +21,754% |
| Income taxes | 67/77 | €8,091 | €29,310 | +€21,219 | +262% |
| Profit (loss) for the period | 9904 | €1,055 | €1,969,478 | +€2.0m | +186,536% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,055 | €1,969,478 | +€2.0m | +186,536% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.