MERCURE: 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.
MERCURE
Largest movements
- Tangible fixed assets -€68,488
down €68,488 (-4.0%), from €1.7m to €1.7m
- Cash +€21,787
up €21,787 (+137.1%), from €15,888 to €37,675
mainly Other debts (+€118,714) and Net result for the year (+€89,288)
- Debts after one year -€146,613
down €146,613 (-15.0%), from €980,582 to €833,969
- Other debts +€118,714
up €118,714 (+2026.4%), from €5,858 to €124,572
- Depreciation -€107,396
down €107,396 (-57.1%), from €188,220 to €80,825
- Financial charges +€31,559
up €31,559 (+130.0%), from €24,275 to €55,834
- Gross operating margin -€21,429
down €21,429 (-6.7%), from €321,897 to €300,468
- Taxes +€14,177
up €14,177 (+62.0%), from €22,867 to €37,044
- Other operating charges +€10,012
up €10,012 (+36.4%), from €27,537 to €37,548
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 | €1,758,758 | €1,719,246 | -€39,512 | -2.2% |
| Fixed assets | 21/28 | €1,729,316 | €1,660,828 | -€68,488 | -4.0% |
| Tangible fixed assets | 22/27 | €1,729,316 | €1,660,828 | -€68,488 | -4.0% |
| Land and buildings | 22 | €1,634,964 | €1,601,322 | -€33,642 | -2.1% |
| Plant, machinery and equipment | 23 | €48,174 | €38,823 | -€9,351 | -19.4% |
| Furniture and vehicles | 24 | €46,178 | €20,683 | -€25,495 | -55.2% |
| Current assets | 29/58 | €29,443 | €58,418 | +€28,976 | +98.4% |
| Amounts receivable within one year | 40/41 | €2,074 | €3,054 | +€980 | +47.3% |
| Trade receivables | 40 | - | €1,275 | +€1,275 | |
| Other amounts receivable | 41 | €2,074 | €1,779 | -€295 | -14.2% |
| Current investments | 50/53 | €8,607 | €14,038 | +€5,431 | +63.1% |
| Cash at bank and in hand | 54/58 | €15,888 | €37,675 | +€21,787 | +137.1% |
| Deferred charges and accrued income | 490/1 | €2,874 | €3,652 | +€778 | +27.1% |
| Total equity and liabilities | 10/49 | €1,758,758 | €1,719,246 | -€39,512 | -2.2% |
| Equity | 10/15 | €601,498 | €584,120 | -€17,378 | -2.9% |
| Contributions | 10/11 | €377,456 | €377,456 | = | 0.0% |
| Reserves | 13 | €318,040 | €300,660 | -€17,380 | -5.5% |
| Distributable reserves | 133 | €318,040 | €300,660 | -€17,380 | -5.5% |
| Profit (loss) carried forward | 14 | -€93,998 | -€93,996 | +€2 | 0.0% |
| Amounts payable | 17/49 | €1,157,260 | €1,135,126 | -€22,134 | -1.9% |
| Amounts payable after more than one year | 17 | €980,582 | €833,969 | -€146,613 | -15.0% |
| Financial debts | 170/4 | €980,582 | €833,969 | -€146,613 | -15.0% |
| Amounts payable within one year | 42/48 | €176,678 | €301,157 | +€124,479 | +70.5% |
| Current portion of amounts payable after more than one year | 42 | €147,005 | €146,613 | -€392 | -0.3% |
| Financial debts | 43 | €1,348 | - | -€1,348 | |
| Credit institutions | 430/8 | €1,348 | - | -€1,348 | |
| Trade debts | 44 | €3,339 | €13,226 | +€9,887 | +296.1% |
| Suppliers | 440/4 | €3,339 | €13,226 | +€9,887 | +296.1% |
| Taxes, remuneration and social security | 45 | €19,128 | €16,746 | -€2,382 | -12.5% |
| Taxes | 450/3 | €19,128 | €16,746 | -€2,382 | -12.5% |
| Other amounts payable | 47/48 | €5,858 | €124,572 | +€118,714 | +2026.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,220 | €80,825 | -€107,396 | -57.1% |
| Other operating charges | 640/8 | €27,537 | €37,548 | +€10,012 | +36.4% |
| Gross operating margin | 9900 | €321,897 | €300,468 | -€21,429 | -6.7% |
| Operating profit (loss) | 9901 | €106,141 | €182,096 | +€75,955 | +71.6% |
| Financial income | 75/76B | €329 | €71 | -€258 | -78.5% |
| Recurring financial income | 75 | €329 | €71 | -€258 | -78.5% |
| Financial charges | 65/66B | €24,275 | €55,834 | +€31,559 | +130.0% |
| Recurring financial charges | 65 | €24,275 | €55,834 | +€31,559 | +130.0% |
| Profit (loss) for the period before taxes | 9903 | €82,194 | €126,332 | +€44,138 | +53.7% |
| Income taxes | 67/77 | €22,867 | €37,044 | +€14,177 | +62.0% |
| Profit (loss) for the period | 9904 | €59,327 | €89,288 | +€29,961 | +50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,327 | €89,288 | +€29,961 | +50.5% |
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 6 October 2026 via checked.be.