MERCURIS: 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.
MERCURIS
Largest movements
- Receivables within one year -€107,418
down €107,418 (-17.7%), from €608,265 to €500,847
of which Trade receivables: -€104,518
- Cash +€103,063
up €103,063 (+190%), from €54,178 to €157,241
mainly Receivables within one year (+€107,418) and Net result for the year (+€73,927)
- Tangible fixed assets +€80,217
up €80,217 (+130%), from €61,717 to €141,935
- Stocks and contracts +€57,462
up €57,462 (+98.1%), from €58,600 to €116,061
- Debts after one year +€71,542
up €71,542 (+339%), from €21,126 to €92,668
- Reserves +€67,206
up €67,206 (+62.5%), from €107,470 to €174,676
- Accrued charges and deferred income -€33,254
down €33,254 (-53.2%), from €62,524 to €29,270
- Trade debts +€27,162
up €27,162 (+13.3%), from €203,651 to €230,812
- Provisions -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Turnover +€438,444
up €438,444 (+17.0%), from €2.6m to €3.0m
- Purchases and services +€377,145
up €377,145 (+19.4%), from €1.9m to €2.3m
- Gross operating margin +€61,299
up €61,299 (+9.6%), from €641,451 to €702,750
- Staff costs +€58,977
up €58,977 (+11.8%), from €500,400 to €559,378
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 | €940,723 | €1,065,414 | +€124,691 | +13.3% |
| Fixed assets | 21/28 | €106,717 | €186,935 | +€80,217 | +75.2% |
| Tangible fixed assets | 22/27 | €61,717 | €141,935 | +€80,217 | +130% |
| Furniture and vehicles | 24 | €61,717 | €141,935 | +€80,217 | +130% |
| Financial fixed assets | 28 | €45,000 | €45,000 | = | 0.0% |
| Current assets | 29/58 | €834,006 | €878,479 | +€44,473 | +5.3% |
| Stocks and contracts in progress | 3 | €58,600 | €116,061 | +€57,462 | +98.1% |
| Stocks | 30/36 | €58,600 | €116,061 | +€57,462 | +98.1% |
| Amounts receivable within one year | 40/41 | €608,265 | €500,847 | -€107,418 | -17.7% |
| Trade receivables | 40 | €605,365 | €500,847 | -€104,518 | -17.3% |
| Other amounts receivable | 41 | €2,900 | - | -€2,900 | |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,178 | €157,241 | +€103,063 | +190% |
| Deferred charges and accrued income | 490/1 | €12,963 | €4,330 | -€8,634 | -66.6% |
| Total equity and liabilities | 10/49 | €940,723 | €1,065,414 | +€124,691 | +13.3% |
| Equity | 10/15 | €488,393 | €555,599 | +€67,206 | +13.8% |
| Contributions | 10/11 | €74,701 | €74,701 | = | 0.0% |
| Capital | 10 | €74,701 | €74,701 | = | 0.0% |
| Issued capital | 100 | €74,701 | €74,701 | = | 0.0% |
| Reserves | 13 | €107,470 | €174,676 | +€67,206 | +62.5% |
| Non-distributable reserves | 130/1 | €107,470 | €174,676 | +€67,206 | +62.5% |
| Legal reserve | 130 | €7,470 | €74,676 | +€67,206 | +900% |
| Own shares acquired | 1312 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,221 | €306,221 | = | 0.0% |
| Provisions and deferred taxes | 16 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Other liabilities and charges | 164/5 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Amounts payable | 17/49 | €422,331 | €494,815 | +€72,485 | +17.2% |
| Amounts payable after more than one year | 17 | €21,126 | €92,668 | +€71,542 | +339% |
| Financial debts | 170/4 | €21,126 | €92,668 | +€71,542 | +339% |
| Amounts payable within one year | 42/48 | €338,681 | €372,877 | +€34,196 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €54,086 | €48,748 | -€5,338 | -9.9% |
| Trade debts | 44 | €203,651 | €230,812 | +€27,162 | +13.3% |
| Suppliers | 440/4 | €203,651 | €230,812 | +€27,162 | +13.3% |
| Taxes, remuneration and social security | 45 | €80,945 | €93,317 | +€12,372 | +15.3% |
| Taxes | 450/3 | €23,782 | €30,283 | +€6,501 | +27.3% |
| Remuneration and social security | 454/9 | €57,163 | €63,034 | +€5,871 | +10.3% |
| Accrued charges and deferred income | 492/3 | €62,524 | €29,270 | -€33,254 | -53.2% |
| Turnover | 70 | €2,585,210 | €3,023,654 | +€438,444 | +17.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,943,759 | €2,320,905 | +€377,145 | +19.4% |
| Remuneration, social security and pensions | 62 | €500,400 | €559,378 | +€58,977 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,614 | €41,267 | -€3,347 | -7.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€15,000 | -€15,000 | |
| Other operating charges | 640/8 | €11,676 | €7,075 | -€4,602 | -39.4% |
| Gross operating margin | 9900 | €641,451 | €702,750 | +€61,299 | +9.6% |
| Operating profit (loss) | 9901 | €84,760 | €110,030 | +€25,270 | +29.8% |
| Financial income | 75/76B | €6,183 | €14,316 | +€8,133 | +132% |
| Recurring financial income | 75 | €6,183 | €7,418 | +€1,235 | +20.0% |
| Non-recurring financial income | 76B | - | €6,898 | +€6,898 | |
| Financial charges | 65/66B | €6,987 | €6,028 | -€959 | -13.7% |
| Recurring financial charges | 65 | €6,987 | €6,028 | -€959 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €83,956 | €118,318 | +€34,362 | +40.9% |
| Income taxes | 67/77 | €31,613 | €44,392 | +€12,779 | +40.4% |
| Profit (loss) for the period | 9904 | €52,343 | €73,927 | +€21,583 | +41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,343 | €73,927 | +€21,583 | +41.2% |
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 27 October 2026 via checked.be.