MERCODI: 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.
MERCODI
Largest movements
- Tangible fixed assets -€33,164
down €33,164 (-97.2%), from €34,131 to €967
- Deferred charges and accrued income -€766
no longer reported in 2025 (was €766)
- Debts after one year -€29,000
no longer reported in 2025 (was €29,000)
- Trade debts -€1,987
no longer reported in 2025 (was €1,987)
- Reserves -€1,900
down €1,900 (-17.6%), from €10,821 to €8,921
- Accrued charges and deferred income -€836
no longer reported in 2025 (was €836)
- Depreciation -€13,961
down €13,961 (-99.7%), from €14,004 to €43
- Gross operating margin -€10,071
down €10,071, from €8,941 to -€1,131
- Financial charges -€241
down €241 (-59.2%), from €407 to €166
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 | €62,744 | €29,021 | -€33,723 | -53.7% |
| Fixed assets | 21/28 | €34,131 | €967 | -€33,164 | -97.2% |
| Tangible fixed assets | 22/27 | €34,131 | €967 | -€33,164 | -97.2% |
| Plant, machinery and equipment | 23 | €34,131 | €967 | -€33,164 | -97.2% |
| Current assets | 29/58 | €28,613 | €28,054 | -€559 | -2.0% |
| Amounts receivable within one year | 40/41 | €837 | €527 | -€310 | -37.0% |
| Other amounts receivable | 41 | €837 | €527 | -€310 | -37.0% |
| Cash at bank and in hand | 54/58 | €27,010 | €27,526 | +€516 | +1.9% |
| Deferred charges and accrued income | 490/1 | €766 | - | -€766 | |
| Total equity and liabilities | 10/49 | €62,744 | €29,021 | -€33,723 | -53.7% |
| Equity | 10/15 | €30,921 | €29,021 | -€1,900 | -6.1% |
| Contributions | 10/11 | €20,100 | €20,100 | = | 0.0% |
| Reserves | 13 | €10,821 | €8,921 | -€1,900 | -17.6% |
| Distributable reserves | 133 | €10,821 | €8,921 | -€1,900 | -17.6% |
| Amounts payable | 17/49 | €31,823 | - | -€31,823 | |
| Amounts payable after more than one year | 17 | €29,000 | - | -€29,000 | |
| Other amounts payable | 178/9 | €29,000 | - | -€29,000 | |
| Amounts payable within one year | 42/48 | €1,987 | - | -€1,987 | |
| Trade debts | 44 | €1,987 | - | -€1,987 | |
| Suppliers | 440/4 | €1,987 | - | -€1,987 | |
| Accrued charges and deferred income | 492/3 | €836 | - | -€836 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,004 | €43 | -€13,961 | -99.7% |
| Other operating charges | 640/8 | €586 | €604 | +€18 | +3.0% |
| Gross operating margin | 9900 | €8,941 | -€1,131 | -€10,071 | |
| Operating profit (loss) | 9901 | -€5,649 | -€1,778 | +€3,872 | +68.5% |
| Financial income | 75/76B | €0 | €43 | +€43 | +144,400% |
| Recurring financial income | 75 | €0 | €43 | +€43 | +144,400% |
| Financial charges | 65/66B | €407 | €166 | -€241 | -59.2% |
| Recurring financial charges | 65 | €407 | €166 | -€241 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,056 | -€1,900 | +€4,156 | +68.6% |
| Profit (loss) for the period | 9904 | -€6,056 | -€1,900 | +€4,156 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,056 | -€1,900 | +€4,156 | +68.6% |
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 25 October 2026 via checked.be.