MERCURIUS BUSINESS DEVELOPMENT: what changed
MERCURIUS BUSINESS DEVELOPMENT
Largest movements
- Receivables within one year +€26,944
up €26,944 (+34.9%), from €77,220 to €104,163
of which Trade receivables: +€20,089
- Cash -€22,790
down €22,790 (-28.1%), from €81,064 to €58,274
mainly Receivables within one year (-€26,944) and Debts after one year (-€20,199)
- Tangible fixed assets -€9,378
down €9,378 (-4.8%), from €195,194 to €185,815
- Debts after one year -€20,199
down €20,199 (-14.6%), from €138,285 to €118,086
- Trade debts +€9,261
up €9,261 (+23.5%), from €39,430 to €48,692
- Reserves +€5,819
up €5,819 (+5.4%), from €107,195 to €113,014
of which Distributable reserves: +€5,819
- Gross operating margin -€57,916
down €57,916 (-67.6%), from €85,669 to €27,753
- Taxes -€15,207
down €15,207 (-82.9%), from €18,352 to €3,145
- Financial charges -€3,945
down €3,945 (-37.6%), from €10,503 to €6,558
- Depreciation -€1,214
down €1,214 (-11.5%), from €10,593 to €9,378
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €355,762 | €348,957 | -€6,805 | -1.9% |
| Fixed assets | 21/28 | €195,194 | €185,815 | -€9,378 | -4.8% |
| Tangible fixed assets | 22/27 | €195,194 | €185,815 | -€9,378 | -4.8% |
| Land and buildings | 22 | €187,657 | €183,520 | -€4,136 | -2.2% |
| Plant, machinery and equipment | 23 | €1,710 | €724 | -€987 | -57.7% |
| Furniture and vehicles | 24 | €5,827 | €1,572 | -€4,256 | -73.0% |
| Current assets | 29/58 | €160,568 | €163,142 | +€2,574 | +1.6% |
| Amounts receivable within one year | 40/41 | €77,220 | €104,163 | +€26,944 | +34.9% |
| Trade receivables | 40 | €77,220 | €97,308 | +€20,089 | +26.0% |
| Other amounts receivable | 41 | - | €6,855 | +€6,855 | |
| Cash at bank and in hand | 54/58 | €81,064 | €58,274 | -€22,790 | -28.1% |
| Deferred charges and accrued income | 490/1 | €2,284 | €705 | -€1,580 | -69.2% |
| Total equity and liabilities | 10/49 | €355,762 | €348,957 | -€6,805 | -1.9% |
| Equity | 10/15 | €119,595 | €125,414 | +€5,819 | +4.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €107,195 | €113,014 | +€5,819 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €105,335 | €111,154 | +€5,819 | +5.5% |
| Amounts payable | 17/49 | €236,166 | €223,543 | -€12,623 | -5.3% |
| Amounts payable after more than one year | 17 | €138,285 | €118,086 | -€20,199 | -14.6% |
| Financial debts | 170/4 | €138,285 | €118,086 | -€20,199 | -14.6% |
| Amounts payable within one year | 42/48 | €97,882 | €105,457 | +€7,575 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €20,803 | €21,518 | +€716 | +3.4% |
| Trade debts | 44 | €39,430 | €48,692 | +€9,261 | +23.5% |
| Suppliers | 440/4 | €39,430 | €48,692 | +€9,261 | +23.5% |
| Taxes, remuneration and social security | 45 | €37,634 | €34,855 | -€2,779 | -7.4% |
| Taxes | 450/3 | €33,841 | €32,140 | -€1,701 | -5.0% |
| Remuneration and social security | 454/9 | €3,793 | €2,715 | -€1,078 | -28.4% |
| Other amounts payable | 47/48 | €15 | €392 | +€377 | +2,549% |
| Remuneration, social security and pensions | 62 | €1,780 | €1,728 | -€52 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,593 | €9,378 | -€1,214 | -11.5% |
| Other operating charges | 640/8 | €824 | €1,131 | +€308 | +37.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €85,669 | €27,753 | -€57,916 | -67.6% |
| Operating profit (loss) | 9901 | €72,473 | €15,515 | -€56,958 | -78.6% |
| Financial income | 75/76B | €8 | €6 | -€2 | -25.7% |
| Recurring financial income | 75 | €8 | €6 | -€2 | -25.7% |
| Financial charges | 65/66B | €10,503 | €6,558 | -€3,945 | -37.6% |
| Recurring financial charges | 65 | €10,503 | €6,558 | -€3,945 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €61,979 | €8,963 | -€53,015 | -85.5% |
| Income taxes | 67/77 | €18,352 | €3,145 | -€15,207 | -82.9% |
| Profit (loss) for the period | 9904 | €43,626 | €5,819 | -€37,808 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,626 | €5,819 | -€37,808 | -86.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.