MERCOPATI: 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.
MERCOPATI
Largest movements
- Tangible fixed assets +€68,350
up €68,350 (+43.1%), from €158,625 to €226,975
of which Furniture and vehicles: +€67,013
- Cash +€14,918
up €14,918 (+10.6%), from €141,143 to €156,061
mainly Net result for the year (+€56,068) and Depreciation (+€33,973)
- Current investments +€11,221
up €11,221 (+4.9%), from €228,067 to €239,288
- Reserves +€56,068
up €56,068 (+12.7%), from €441,236 to €497,304
of which Distributable reserves: +€56,068
- Debts after one year +€25,487
up €25,487 (+101.6%), from €25,090 to €50,577
of which Financial debts: +€32,381
- Current portion of long-term debt +€14,188
new in 2025: €14,188
- Gross operating margin -€51,331
down €51,331 (-32.3%), from €158,931 to €107,600
- Taxes -€24,927
down €24,927 (-52.6%), from €47,353 to €22,426
- Depreciation +€12,488
up €12,488 (+58.1%), from €21,485 to €33,973
- Financial income -€10,940
down €10,940 (-48.7%), from €22,477 to €11,537
- Financial charges +€2,794
up €2,794 (+829.1%), from €337 to €3,131
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 | €547,977 | €645,442 | +€97,465 | +17.8% |
| Fixed assets | 21/28 | €158,625 | €226,975 | +€68,350 | +43.1% |
| Tangible fixed assets | 22/27 | €158,625 | €226,975 | +€68,350 | +43.1% |
| Land and buildings | 22 | €145,541 | €149,255 | +€3,714 | +2.6% |
| Plant, machinery and equipment | 23 | €10,541 | €8,164 | -€2,377 | -22.6% |
| Furniture and vehicles | 24 | €2,543 | €69,556 | +€67,013 | +2635.2% |
| Current assets | 29/58 | €389,352 | €418,467 | +€29,115 | +7.5% |
| Amounts receivable within one year | 40/41 | €17,566 | €21,034 | +€3,468 | +19.7% |
| Trade receivables | 40 | €7,688 | €3,115 | -€4,573 | -59.5% |
| Other amounts receivable | 41 | €9,878 | €17,919 | +€8,041 | +81.4% |
| Current investments | 50/53 | €228,067 | €239,288 | +€11,221 | +4.9% |
| Cash at bank and in hand | 54/58 | €141,143 | €156,061 | +€14,918 | +10.6% |
| Deferred charges and accrued income | 490/1 | €2,576 | €2,084 | -€492 | -19.1% |
| Total equity and liabilities | 10/49 | €547,977 | €645,442 | +€97,465 | +17.8% |
| Equity | 10/15 | €486,794 | €542,862 | +€56,068 | +11.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €441,236 | €497,304 | +€56,068 | +12.7% |
| Tax-exempt reserves | 132 | €103 | €103 | = | 0.0% |
| Distributable reserves | 133 | €441,133 | €497,201 | +€56,068 | +12.7% |
| Profit (loss) carried forward | 14 | €26,558 | €26,558 | = | 0.0% |
| Amounts payable | 17/49 | €61,183 | €102,580 | +€41,397 | +67.7% |
| Amounts payable after more than one year | 17 | €25,090 | €50,577 | +€25,487 | +101.6% |
| Financial debts | 170/4 | - | €32,381 | +€32,381 | |
| Other amounts payable | 178/9 | €25,090 | €18,196 | -€6,894 | -27.5% |
| Amounts payable within one year | 42/48 | €31,977 | €50,471 | +€18,494 | +57.8% |
| Current portion of amounts payable after more than one year | 42 | - | €14,188 | +€14,188 | |
| Trade debts | 44 | €2,476 | €1,295 | -€1,181 | -47.7% |
| Suppliers | 440/4 | €2,476 | €1,295 | -€1,181 | -47.7% |
| Taxes, remuneration and social security | 45 | €29,501 | €34,988 | +€5,487 | +18.6% |
| Taxes | 450/3 | €29,501 | €34,988 | +€5,487 | +18.6% |
| Accrued charges and deferred income | 492/3 | €4,116 | €1,532 | -€2,584 | -62.8% |
| Non-recurring operating income | 76A | - | €10,330 | +€10,330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,485 | €33,973 | +€12,488 | +58.1% |
| Other operating charges | 640/8 | €3,401 | €3,539 | +€138 | +4.1% |
| Gross operating margin | 9900 | €158,931 | €107,600 | -€51,331 | -32.3% |
| Operating profit (loss) | 9901 | €134,045 | €70,088 | -€63,957 | -47.7% |
| Financial income | 75/76B | €22,477 | €11,537 | -€10,940 | -48.7% |
| Recurring financial income | 75 | €22,477 | €11,537 | -€10,940 | -48.7% |
| Financial charges | 65/66B | €337 | €3,131 | +€2,794 | +829.1% |
| Recurring financial charges | 65 | €337 | €3,131 | +€2,794 | +829.1% |
| Profit (loss) for the period before taxes | 9903 | €156,185 | €78,494 | -€77,691 | -49.7% |
| Income taxes | 67/77 | €47,353 | €22,426 | -€24,927 | -52.6% |
| Profit (loss) for the period | 9904 | €108,832 | €56,068 | -€52,764 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €108,832 | €56,068 | -€52,764 | -48.5% |
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 9 October 2026 via checked.be.