MERCURALYS: 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.
MERCURALYS
Largest movements
- Receivables within one year -€14,383
down €14,383 (-90.6%), from €15,867 to €1,484
of which Trade receivables: -€15,867
- Cash +€14,323
up €14,323 (+15.8%), from €90,555 to €104,878
mainly Net result for the year (+€64,886) and Receivables within one year (+€14,383)
- Tangible fixed assets -€9,600
down €9,600 (-45.5%), from €21,102 to €11,502
- Tax, wage and social debts -€16,929
down €16,929 (-63.8%), from €26,518 to €9,590
- Profit (loss) carried forward +€9,886
up €9,886 (+17.4%), from €56,766 to €66,651
- Other debts -€3,188
down €3,188 (-58.2%), from €5,476 to €2,288
- Gross operating margin +€11,401
up €11,401 (+14.4%), from €79,071 to €90,472
- Depreciation +€1,899
up €1,899 (+24.0%), from €7,896 to €9,795
- Other operating charges -€1,346
down €1,346 (-71.8%), from €1,874 to €528
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 | €128,412 | €118,254 | -€10,158 | -7.9% |
| Formation expenses | 20 | €418 | €223 | -€195 | -46.6% |
| Fixed assets | 21/28 | €21,102 | €11,502 | -€9,600 | -45.5% |
| Tangible fixed assets | 22/27 | €21,102 | €11,502 | -€9,600 | -45.5% |
| Furniture and vehicles | 24 | €21,102 | €11,502 | -€9,600 | -45.5% |
| Current assets | 29/58 | €106,892 | €106,529 | -€363 | -0.3% |
| Amounts receivable within one year | 40/41 | €15,867 | €1,484 | -€14,383 | -90.6% |
| Trade receivables | 40 | €15,867 | - | -€15,867 | |
| Other amounts receivable | 41 | - | €1,484 | +€1,484 | |
| Cash at bank and in hand | 54/58 | €90,555 | €104,878 | +€14,323 | +15.8% |
| Deferred charges and accrued income | 490/1 | €470 | €167 | -€303 | -64.5% |
| Total equity and liabilities | 10/49 | €128,412 | €118,254 | -€10,158 | -7.9% |
| Equity | 10/15 | €96,266 | €106,151 | +€9,886 | +10.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,500 | €34,500 | = | 0.0% |
| Distributable reserves | 133 | €34,500 | €34,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,766 | €66,651 | +€9,886 | +17.4% |
| Amounts payable | 17/49 | €32,146 | €12,103 | -€20,043 | -62.4% |
| Amounts payable within one year | 42/48 | €31,994 | €12,103 | -€19,891 | -62.2% |
| Trade debts | 44 | - | €225 | +€225 | |
| Suppliers | 440/4 | - | €225 | +€225 | |
| Taxes, remuneration and social security | 45 | €26,518 | €9,590 | -€16,929 | -63.8% |
| Taxes | 450/3 | €26,518 | €9,590 | -€16,929 | -63.8% |
| Other amounts payable | 47/48 | €5,476 | €2,288 | -€3,188 | -58.2% |
| Accrued charges and deferred income | 492/3 | €152 | - | -€152 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,896 | €9,795 | +€1,899 | +24.0% |
| Other operating charges | 640/8 | €1,874 | €528 | -€1,346 | -71.8% |
| Gross operating margin | 9900 | €79,071 | €90,472 | +€11,401 | +14.4% |
| Operating profit (loss) | 9901 | €69,301 | €80,148 | +€10,848 | +15.7% |
| Financial charges | 65/66B | €77 | €54 | -€23 | -29.5% |
| Recurring financial charges | 65 | €77 | €54 | -€23 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €69,224 | €80,094 | +€10,871 | +15.7% |
| Income taxes | 67/77 | €14,830 | €15,209 | +€379 | +2.6% |
| Profit (loss) for the period | 9904 | €54,394 | €64,886 | +€10,491 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,394 | €64,886 | +€10,491 | +19.3% |
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 19 October 2026 via checked.be.