MERCKEN RAYMOND: 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 RAYMOND
Largest movements
- Cash +€31,802
up €31,802 (+215%), from €14,797 to €46,600
mainly Net result for the year (+€11,059) and Stocks and contracts (+€8,182)
- Stocks and contracts -€8,182
down €8,182 (-4.0%), from €204,260 to €196,078
- Receivables within one year -€4,139
down €4,139 (-83.8%), from €4,939 to €800
- Reserves +€11,059
up €11,059 (+5.2%), from €210,853 to €221,913
- Tax, wage and social debts +€5,589
up €5,589, from €0 to €5,589
- Trade debts +€2,962
up €2,962 (+32.5%), from €9,126 to €12,087
- Gross operating margin +€7,000
up €7,000 (+72.3%), from €9,682 to €16,682
- Taxes +€2,135
up €2,135 (+83.6%), from €2,554 to €4,689
- Financial income -€217
down €217 (-17.7%), from €1,228 to €1,011
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 | €226,176 | €245,786 | +€19,610 | +8.7% |
| Fixed assets | 21/28 | €438 | €538 | +€100 | +22.9% |
| Tangible fixed assets | 22/27 | €438 | €538 | +€100 | +22.9% |
| Land and buildings | 22 | €438 | €44 | -€394 | -89.9% |
| Furniture and vehicles | 24 | - | €494 | +€494 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €225,738 | €245,248 | +€19,510 | +8.6% |
| Stocks and contracts in progress | 3 | €204,260 | €196,078 | -€8,182 | -4.0% |
| Stocks | 30/36 | €204,260 | €196,078 | -€8,182 | -4.0% |
| Amounts receivable within one year | 40/41 | €4,939 | €800 | -€4,139 | -83.8% |
| Other amounts receivable | 41 | €4,939 | €800 | -€4,139 | -83.8% |
| Cash at bank and in hand | 54/58 | €14,797 | €46,600 | +€31,802 | +215% |
| Deferred charges and accrued income | 490/1 | €1,742 | €1,770 | +€28 | +1.6% |
| Total equity and liabilities | 10/49 | €226,176 | €245,786 | +€19,610 | +8.7% |
| Equity | 10/15 | €217,051 | €228,110 | +€11,059 | +5.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €210,853 | €221,913 | +€11,059 | +5.2% |
| Distributable reserves | 133 | €210,853 | €221,913 | +€11,059 | +5.2% |
| Amounts payable | 17/49 | €9,126 | €17,676 | +€8,551 | +93.7% |
| Amounts payable within one year | 42/48 | €9,126 | €17,676 | +€8,551 | +93.7% |
| Trade debts | 44 | €9,126 | €12,087 | +€2,962 | +32.5% |
| Suppliers | 440/4 | €9,126 | €12,087 | +€2,962 | +32.5% |
| Taxes, remuneration and social security | 45 | €0 | €5,589 | +€5,589 | |
| Taxes | 450/3 | €0 | €5,589 | +€5,589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €698 | €561 | -€136 | -19.6% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €9,682 | €16,682 | +€7,000 | +72.3% |
| Operating profit (loss) | 9901 | €8,535 | €15,659 | +€7,124 | +83.5% |
| Financial income | 75/76B | €1,228 | €1,011 | -€217 | -17.7% |
| Recurring financial income | 75 | €1,228 | €1,011 | -€217 | -17.7% |
| Financial charges | 65/66B | €881 | €923 | +€42 | +4.7% |
| Recurring financial charges | 65 | €881 | €923 | +€42 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €8,882 | €15,748 | +€6,866 | +77.3% |
| Income taxes | 67/77 | €2,554 | €4,689 | +€2,135 | +83.6% |
| Profit (loss) for the period | 9904 | €6,328 | €11,059 | +€4,731 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,328 | €11,059 | +€4,731 | +74.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.