MERCURE ADVISORS: 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.
MERCURE ADVISORS
Largest movements
- Cash +€234,982
up €234,982 (+194%), from €121,158 to €356,140
mainly Stocks and contracts (+€152,480) and Net result for the year (+€126,416)
- Stocks and contracts -€152,480
down €152,480 (-75.8%), from €201,186 to €48,705
- Tangible fixed assets +€78,776
up €78,776 (+622%), from €12,656 to €91,432
of which Furniture and vehicles: +€79,410
- Receivables within one year -€29,419
down €29,419 (-10.9%), from €270,256 to €240,836
of which Trade receivables: -€44,407
- Profit (loss) carried forward +€126,416
up €126,416 (+25.8%), from €490,873 to €617,288
- Other debts +€18,881
up €18,881 (+48.9%), from €38,607 to €57,488
- Tax, wage and social debts -€9,118
down €9,118 (-46.6%), from €19,578 to €10,460
- Gross operating margin +€43,690
up €43,690 (+31.3%), from €139,673 to €183,363
- Taxes +€8,077
up €8,077 (+28.6%), from €28,255 to €36,333
- Depreciation -€7,768
down €7,768 (-50.1%), from €15,501 to €7,733
- Financial charges +€6,446
up €6,446 (+2,418%), from €267 to €6,713
- Other operating charges +€6,140
up €6,140 (+576%), from €1,066 to €7,205
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 | €622,343 | €755,119 | +€132,776 | +21.3% |
| Fixed assets | 21/28 | €16,204 | €93,780 | +€77,576 | +479% |
| Intangible fixed assets | 21 | €3,547 | €2,347 | -€1,200 | -33.8% |
| Tangible fixed assets | 22/27 | €12,656 | €91,432 | +€78,776 | +622% |
| Plant, machinery and equipment | 23 | €1,191 | €558 | -€634 | -53.2% |
| Furniture and vehicles | 24 | €11,465 | €90,875 | +€79,410 | +693% |
| Current assets | 29/58 | €606,139 | €661,339 | +€55,200 | +9.1% |
| Stocks and contracts in progress | 3 | €201,186 | €48,705 | -€152,480 | -75.8% |
| Stocks | 30/36 | €201,186 | €48,705 | -€152,480 | -75.8% |
| Amounts receivable within one year | 40/41 | €270,256 | €240,836 | -€29,419 | -10.9% |
| Trade receivables | 40 | €260,972 | €216,564 | -€44,407 | -17.0% |
| Other amounts receivable | 41 | €9,284 | €24,272 | +€14,988 | +161% |
| Cash at bank and in hand | 54/58 | €121,158 | €356,140 | +€234,982 | +194% |
| Deferred charges and accrued income | 490/1 | €13,540 | €15,658 | +€2,118 | +15.6% |
| Total equity and liabilities | 10/49 | €622,343 | €755,119 | +€132,776 | +21.3% |
| Equity | 10/15 | €511,333 | €637,748 | +€126,416 | +24.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €490,873 | €617,288 | +€126,416 | +25.8% |
| Amounts payable | 17/49 | €111,011 | €117,371 | +€6,360 | +5.7% |
| Amounts payable within one year | 42/48 | €110,399 | €116,747 | +€6,348 | +5.8% |
| Trade debts | 44 | €52,214 | €48,799 | -€3,415 | -6.5% |
| Suppliers | 440/4 | €52,214 | €48,799 | -€3,415 | -6.5% |
| Taxes, remuneration and social security | 45 | €19,578 | €10,460 | -€9,118 | -46.6% |
| Taxes | 450/3 | €19,578 | €10,460 | -€9,118 | -46.6% |
| Other amounts payable | 47/48 | €38,607 | €57,488 | +€18,881 | +48.9% |
| Accrued charges and deferred income | 492/3 | €612 | €624 | +€12 | +2.0% |
| Non-recurring operating income | 76A | - | €4,533 | +€4,533 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,501 | €7,733 | -€7,768 | -50.1% |
| Other operating charges | 640/8 | €1,066 | €7,205 | +€6,140 | +576% |
| Gross operating margin | 9900 | €139,673 | €183,363 | +€43,690 | +31.3% |
| Operating profit (loss) | 9901 | €123,106 | €168,424 | +€45,318 | +36.8% |
| Financial income | 75/76B | €640 | €1,037 | +€397 | +62.0% |
| Recurring financial income | 75 | €640 | €1,037 | +€397 | +62.0% |
| Financial charges | 65/66B | €267 | €6,713 | +€6,446 | +2,418% |
| Recurring financial charges | 65 | €267 | €6,713 | +€6,446 | +2,418% |
| Profit (loss) for the period before taxes | 9903 | €123,479 | €162,748 | +€39,269 | +31.8% |
| Income taxes | 67/77 | €28,255 | €36,333 | +€8,077 | +28.6% |
| Profit (loss) for the period | 9904 | €95,224 | €126,416 | +€31,192 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,224 | €126,416 | +€31,192 | +32.8% |
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 30 October 2026 via checked.be.