MERCKX PROJECTS: 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.
MERCKX PROJECTS
Largest movements
- Cash +€87,218
up €87,218 (+94.0%), from €92,808 to €180,026
mainly Net result for the year (+€73,501) and Depreciation (+€14,391)
- Tangible fixed assets -€14,391
down €14,391 (-25.8%), from €55,718 to €41,327
of which Leasing and similar rights: -€10,940
- Receivables within one year -€12,623
down €12,623 (-65.8%), from €19,193 to €6,571
- Deferred charges and accrued income +€4,058
up €4,058 (+46.2%), from €8,778 to €12,835
- Reserves +€71,835
up €71,835 (+74.6%), from €96,325 to €168,160
- Debts after one year -€12,500
down €12,500 (-56.3%), from €22,206 to €9,706
- Depreciation +€3,100
up €3,100 (+27.5%), from €11,291 to €14,391
- Gross operating margin -€1,538
down €1,538 (-1.4%), from €111,594 to €110,056
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,497 | €240,759 | +€64,262 | +36.4% |
| Fixed assets | 21/28 | €55,718 | €41,327 | -€14,391 | -25.8% |
| Tangible fixed assets | 22/27 | €55,718 | €41,327 | -€14,391 | -25.8% |
| Furniture and vehicles | 24 | €18,131 | €14,680 | -€3,451 | -19.0% |
| Leasing and similar rights | 25 | €37,587 | €26,647 | -€10,940 | -29.1% |
| Current assets | 29/58 | €120,779 | €199,432 | +€78,653 | +65.1% |
| Amounts receivable within one year | 40/41 | €19,193 | €6,571 | -€12,623 | -65.8% |
| Trade receivables | 40 | €19,193 | €6,571 | -€12,623 | -65.8% |
| Cash at bank and in hand | 54/58 | €92,808 | €180,026 | +€87,218 | +94.0% |
| Deferred charges and accrued income | 490/1 | €8,778 | €12,835 | +€4,058 | +46.2% |
| Total equity and liabilities | 10/49 | €176,497 | €240,759 | +€64,262 | +36.4% |
| Equity | 10/15 | €99,925 | €171,760 | +€71,835 | +71.9% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €96,325 | €168,160 | +€71,835 | +74.6% |
| Distributable reserves | 133 | €96,325 | €168,160 | +€71,835 | +74.6% |
| Amounts payable | 17/49 | €76,572 | €68,999 | -€7,573 | -9.9% |
| Amounts payable after more than one year | 17 | €22,206 | €9,706 | -€12,500 | -56.3% |
| Financial debts | 170/4 | €22,206 | €9,706 | -€12,500 | -56.3% |
| Amounts payable within one year | 42/48 | €53,776 | €58,045 | +€4,269 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €11,311 | €11,946 | +€635 | +5.6% |
| Trade debts | 44 | €34 | €1,439 | +€1,406 | +4188.2% |
| Suppliers | 440/4 | €34 | €1,439 | +€1,406 | +4188.2% |
| Taxes, remuneration and social security | 45 | €27,161 | €27,280 | +€119 | +0.4% |
| Taxes | 450/3 | €27,161 | €27,280 | +€119 | +0.4% |
| Other amounts payable | 47/48 | €15,270 | €17,380 | +€2,109 | +13.8% |
| Accrued charges and deferred income | 492/3 | €590 | €1,249 | +€659 | +111.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,291 | €14,391 | +€3,100 | +27.5% |
| Other operating charges | 640/8 | €399 | €407 | +€8 | +1.9% |
| Gross operating margin | 9900 | €111,594 | €110,056 | -€1,538 | -1.4% |
| Operating profit (loss) | 9901 | €99,904 | €95,258 | -€4,646 | -4.7% |
| Financial income | 75/76B | €0 | €2 | +€2 | +12000.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +12000.0% |
| Financial charges | 65/66B | €2,448 | €1,940 | -€508 | -20.7% |
| Recurring financial charges | 65 | €2,448 | €1,940 | -€508 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €97,456 | €93,320 | -€4,136 | -4.2% |
| Income taxes | 67/77 | €19,984 | €19,819 | -€165 | -0.8% |
| Profit (loss) for the period | 9904 | €77,472 | €73,501 | -€3,971 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,472 | €73,501 | -€3,971 | -5.1% |
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 8 October 2026 via checked.be.