MERCKX E. MEUBELEN: 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.
MERCKX E. MEUBELEN
Largest movements
- Tangible fixed assets +€160,281
up €160,281 (+31.9%), from €502,977 to €663,258
of which Land and buildings: +€182,099
- Stocks and contracts -€89,036
down €89,036 (-41.5%), from €214,348 to €125,312
- Other debts +€320,324
up €320,324 (+201%), from €159,456 to €479,780
- Profit (loss) carried forward -€148,413
new in 2025: -€148,413
- Trade debts -€49,392
down €49,392 (-47.8%), from €103,312 to €53,919
- Current portion of long-term debt -€23,789
down €23,789 (-64.7%), from €36,763 to €12,974
- Debts after one year -€12,974
down €12,974 (-5.2%), from €248,572 to €235,598
- Gross operating margin -€74,266
down €74,266 (-72.8%), from €101,984 to €27,718
- Staff costs -€34,962
down €34,962 (-32.9%), from €106,300 to €71,337
- Depreciation +€34,821
up €34,821 (+67.3%), from €51,725 to €86,546
- Other operating charges +€1,059
up €1,059 (+8.1%), from €13,097 to €14,156
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 | €741,982 | €815,800 | +€73,818 | +9.9% |
| Fixed assets | 21/28 | €503,132 | €663,413 | +€160,281 | +31.9% |
| Tangible fixed assets | 22/27 | €502,977 | €663,258 | +€160,281 | +31.9% |
| Land and buildings | 22 | €424,873 | €606,972 | +€182,099 | +42.9% |
| Plant, machinery and equipment | 23 | €16,388 | €10,590 | -€5,797 | -35.4% |
| Furniture and vehicles | 24 | €30,393 | €19,724 | -€10,669 | -35.1% |
| Other tangible fixed assets | 26 | €31,324 | €25,971 | -€5,352 | -17.1% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €238,850 | €152,387 | -€86,463 | -36.2% |
| Stocks and contracts in progress | 3 | €214,348 | €125,312 | -€89,036 | -41.5% |
| Stocks | 30/36 | €214,348 | €125,312 | -€89,036 | -41.5% |
| Amounts receivable within one year | 40/41 | €2,281 | €2,281 | = | 0.0% |
| Other amounts receivable | 41 | €2,281 | €2,281 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,221 | €24,794 | +€2,573 | +11.6% |
| Total equity and liabilities | 10/49 | €741,982 | €815,800 | +€73,818 | +9.9% |
| Equity | 10/15 | €72,404 | -€80,243 | -€152,646 | |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €10,430 | €6,197 | -€4,233 | -40.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €4,233 | - | -€4,233 | |
| Profit (loss) carried forward | 14 | - | -€148,413 | -€148,413 | |
| Amounts payable | 17/49 | €669,578 | €896,043 | +€226,464 | +33.8% |
| Amounts payable after more than one year | 17 | €248,572 | €235,598 | -€12,974 | -5.2% |
| Financial debts | 170/4 | €248,572 | €235,598 | -€12,974 | -5.2% |
| Amounts payable within one year | 42/48 | €421,006 | €658,195 | +€237,188 | +56.3% |
| Current portion of amounts payable after more than one year | 42 | €36,763 | €12,974 | -€23,789 | -64.7% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €103,312 | €53,919 | -€49,392 | -47.8% |
| Suppliers | 440/4 | €103,312 | €53,919 | -€49,392 | -47.8% |
| Taxes, remuneration and social security | 45 | €21,476 | €11,522 | -€9,955 | -46.4% |
| Taxes | 450/3 | €5,464 | €1,553 | -€3,911 | -71.6% |
| Remuneration and social security | 454/9 | €16,013 | €9,968 | -€6,044 | -37.7% |
| Other amounts payable | 47/48 | €159,456 | €479,780 | +€320,324 | +201% |
| Accrued charges and deferred income | 492/3 | - | €2,250 | +€2,250 | |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | €106,300 | €71,337 | -€34,962 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,725 | €86,546 | +€34,821 | +67.3% |
| Other operating charges | 640/8 | €13,097 | €14,156 | +€1,059 | +8.1% |
| Gross operating margin | 9900 | €101,984 | €27,718 | -€74,266 | -72.8% |
| Operating profit (loss) | 9901 | -€69,137 | -€144,322 | -€75,185 | -109% |
| Financial income | 75/76B | €395 | €325 | -€70 | -17.8% |
| Recurring financial income | 75 | €395 | €325 | -€70 | -17.8% |
| Financial charges | 65/66B | €8,793 | €8,458 | -€335 | -3.8% |
| Recurring financial charges | 65 | €8,793 | €8,458 | -€335 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€77,536 | -€152,456 | -€74,920 | -96.6% |
| Income taxes | 67/77 | €210 | €191 | -€19 | -9.3% |
| Profit (loss) for the period | 9904 | -€77,746 | -€152,646 | -€74,901 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,746 | -€152,646 | -€74,901 | -96.3% |
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 1 November 2026 via checked.be.