Mercurius & Partners: what changed
Mercurius & Partners
Largest movements
- Cash +€65,973
up €65,973 (+284%), from €23,246 to €89,219
mainly Net result for the year (+€65,528) and Receivables within one year (+€21,134)
- Receivables within one year -€21,134
down €21,134 (-39.2%), from €53,967 to €32,832
of which Trade receivables: -€40,871
- Tangible fixed assets -€8,163
down €8,163 (-11.8%), from €69,417 to €61,254
of which Furniture and vehicles: -€8,163
- Current investments -€5,413
down €5,413 (-5.3%), from €102,363 to €96,950
- Reserves +€65,528
up €65,528 (+35.8%), from €183,024 to €248,552
of which Non-distributable reserves: +€65,528
- Other debts -€33,705
no longer reported in 2025 (was €33,705)
- Tax, wage and social debts -€5,653
down €5,653 (-30.5%), from €18,555 to €12,902
of which Taxes: -€8,453
- Trade debts +€5,429
up €5,429 (+289%), from €1,879 to €7,308
- Gross operating margin -€18,250
down €18,250 (-14.1%), from €129,728 to €111,479
- Financial charges +€13,296
up €13,296, from -€6,581 to €6,715
- Taxes -€9,532
down €9,532 (-22.7%), from €41,954 to €32,421
- Depreciation +€7,652
up €7,652 (+293%), from €2,609 to €10,261
- Financial income +€1,863
up €1,863 (+35.6%), from €5,230 to €7,093
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 | €250,452 | €282,027 | +€31,575 | +12.6% |
| Fixed assets | 21/28 | €69,417 | €61,254 | -€8,163 | -11.8% |
| Tangible fixed assets | 22/27 | €69,417 | €61,254 | -€8,163 | -11.8% |
| Furniture and vehicles | 24 | €48,593 | €40,430 | -€8,163 | -16.8% |
| Other tangible fixed assets | 26 | €20,824 | €20,824 | = | 0.0% |
| Current assets | 29/58 | €181,035 | €220,773 | +€39,738 | +22.0% |
| Amounts receivable within one year | 40/41 | €53,967 | €32,832 | -€21,134 | -39.2% |
| Trade receivables | 40 | €53,967 | €13,096 | -€40,871 | -75.7% |
| Other amounts receivable | 41 | - | €19,736 | +€19,736 | |
| Current investments | 50/53 | €102,363 | €96,950 | -€5,413 | -5.3% |
| Cash at bank and in hand | 54/58 | €23,246 | €89,219 | +€65,973 | +284% |
| Deferred charges and accrued income | 490/1 | €1,460 | €1,772 | +€312 | +21.4% |
| Total equity and liabilities | 10/49 | €250,452 | €282,027 | +€31,575 | +12.6% |
| Equity | 10/15 | €195,424 | €260,952 | +€65,528 | +33.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €183,024 | €248,552 | +€65,528 | +35.8% |
| Non-distributable reserves | 130/1 | €181,164 | €246,692 | +€65,528 | +36.2% |
| Other | 1319 | €181,164 | €246,692 | +€65,528 | +36.2% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €55,028 | €21,075 | -€33,952 | -61.7% |
| Amounts payable within one year | 42/48 | €54,139 | €20,210 | -€33,929 | -62.7% |
| Trade debts | 44 | €1,879 | €7,308 | +€5,429 | +289% |
| Suppliers | 440/4 | €1,879 | €7,308 | +€5,429 | +289% |
| Taxes, remuneration and social security | 45 | €18,555 | €12,902 | -€5,653 | -30.5% |
| Taxes | 450/3 | €17,155 | €8,702 | -€8,453 | -49.3% |
| Remuneration and social security | 454/9 | €1,400 | €4,200 | +€2,800 | +200% |
| Other amounts payable | 47/48 | €33,705 | - | -€33,705 | |
| Accrued charges and deferred income | 492/3 | €889 | €865 | -€24 | -2.7% |
| Non-recurring operating income | 76A | €6,393 | - | -€6,393 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,609 | €10,261 | +€7,652 | +293% |
| Other operating charges | 640/8 | €2,307 | €3,583 | +€1,276 | +55.3% |
| Non-recurring operating charges | 66A | €168 | €63 | -€104 | -62.2% |
| Gross operating margin | 9900 | €129,728 | €111,479 | -€18,250 | -14.1% |
| Operating profit (loss) | 9901 | €124,644 | €97,571 | -€27,073 | -21.7% |
| Financial income | 75/76B | €5,230 | €7,093 | +€1,863 | +35.6% |
| Recurring financial income | 75 | €5,230 | €7,093 | +€1,863 | +35.6% |
| Financial charges | 65/66B | -€6,581 | €6,715 | +€13,296 | |
| Recurring financial charges | 65 | -€6,581 | €6,715 | +€13,296 | |
| Profit (loss) for the period before taxes | 9903 | €136,455 | €97,949 | -€38,506 | -28.2% |
| Income taxes | 67/77 | €41,954 | €32,421 | -€9,532 | -22.7% |
| Profit (loss) for the period | 9904 | €94,501 | €65,528 | -€28,974 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €94,501 | €65,528 | -€28,974 | -30.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.