MERCRO MANAGEMENT: 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.
MERCRO MANAGEMENT
Largest movements
- Cash -€110,753
down €110,753 (-41.6%), from €266,216 to €155,464
mainly Other debts (-€161,805) and Receivables within one year (-€70,685)
- Receivables within one year +€70,685
up €70,685 (+69.5%), from €101,643 to €172,327
of which Other amounts receivable: +€42,040
- Tangible fixed assets -€61,548
down €61,548 (-4.8%), from €1.3m to €1.2m
of which Land and buildings: -€50,534
- Reserves +€165,078
up €165,078 (+12.7%), from €1.3m to €1.5m
- Other debts -€161,805
down €161,805 (-88.6%), from €182,700 to €20,894
- Debts after one year -€66,546
down €66,546 (-7.4%), from €900,042 to €833,496
of which Financial debts: -€66,546
- Tax, wage and social debts -€31,069
down €31,069 (-46.4%), from €66,937 to €35,868
of which Taxes: -€17,725
- Financial income -€101,587
down €101,587 (-50.2%), from €202,333 to €100,746
- Gross operating margin +€10,370
up €10,370 (+6.7%), from €154,797 to €165,168
- Taxes -€6,615
down €6,615 (-14.7%), from €45,068 to €38,453
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 | €2,535,115 | €2,433,179 | -€101,936 | -4.0% |
| Fixed assets | 21/28 | €2,166,936 | €2,105,388 | -€61,548 | -2.8% |
| Tangible fixed assets | 22/27 | €1,284,590 | €1,223,043 | -€61,548 | -4.8% |
| Land and buildings | 22 | €1,263,081 | €1,212,546 | -€50,534 | -4.0% |
| Plant, machinery and equipment | 23 | €2,554 | €1,568 | -€986 | -38.6% |
| Furniture and vehicles | 24 | €18,956 | €8,928 | -€10,027 | -52.9% |
| Financial fixed assets | 28 | €882,346 | €882,346 | = | 0.0% |
| Current assets | 29/58 | €368,179 | €327,791 | -€40,388 | -11.0% |
| Amounts receivable within one year | 40/41 | €101,643 | €172,327 | +€70,685 | +69.5% |
| Trade receivables | 40 | €43,643 | €72,288 | +€28,645 | +65.6% |
| Other amounts receivable | 41 | €58,000 | €100,040 | +€42,040 | +72.5% |
| Cash at bank and in hand | 54/58 | €266,216 | €155,464 | -€110,753 | -41.6% |
| Deferred charges and accrued income | 490/1 | €320 | €0 | -€320 | -100% |
| Total equity and liabilities | 10/49 | €2,535,115 | €2,433,179 | -€101,936 | -4.0% |
| Equity | 10/15 | €1,305,170 | €1,470,248 | +€165,078 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,298,970 | €1,464,048 | +€165,078 | +12.7% |
| Distributable reserves | 133 | €1,298,970 | €1,464,048 | +€165,078 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,229,944 | €962,931 | -€267,014 | -21.7% |
| Amounts payable after more than one year | 17 | €900,042 | €833,496 | -€66,546 | -7.4% |
| Financial debts | 170/4 | €850,042 | €783,496 | -€66,546 | -7.8% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €326,218 | €124,682 | -€201,536 | -61.8% |
| Current portion of amounts payable after more than one year | 42 | €66,498 | €66,546 | +€48 | +0.1% |
| Trade debts | 44 | €10,084 | €1,374 | -€8,710 | -86.4% |
| Suppliers | 440/4 | €10,084 | €1,374 | -€8,710 | -86.4% |
| Taxes, remuneration and social security | 45 | €66,937 | €35,868 | -€31,069 | -46.4% |
| Taxes | 450/3 | €53,293 | €35,568 | -€17,725 | -33.3% |
| Remuneration and social security | 454/9 | €13,644 | €300 | -€13,344 | -97.8% |
| Other amounts payable | 47/48 | €182,700 | €20,894 | -€161,805 | -88.6% |
| Accrued charges and deferred income | 492/3 | €3,684 | €4,752 | +€1,068 | +29.0% |
| Non-recurring operating income | 76A | - | €1,554 | +€1,554 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,472 | €41,405 | -€68 | -0.2% |
| Other operating charges | 640/8 | €7,368 | €8,512 | +€1,144 | +15.5% |
| Gross operating margin | 9900 | €154,797 | €165,168 | +€10,370 | +6.7% |
| Operating profit (loss) | 9901 | €105,957 | €115,251 | +€9,294 | +8.8% |
| Financial income | 75/76B | €202,333 | €100,746 | -€101,587 | -50.2% |
| Recurring financial income | 75 | €202,333 | €100,746 | -€101,587 | -50.2% |
| Financial charges | 65/66B | €13,432 | €12,466 | -€965 | -7.2% |
| Recurring financial charges | 65 | €13,432 | €12,466 | -€965 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €294,859 | €203,531 | -€91,328 | -31.0% |
| Income taxes | 67/77 | €45,068 | €38,453 | -€6,615 | -14.7% |
| Profit (loss) for the period | 9904 | €249,791 | €165,078 | -€84,713 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €249,791 | €165,078 | -€84,713 | -33.9% |
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.