MERCUTIO: 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.
MERCUTIO
Largest movements
- Cash -€54,449
down €54,449 (-74.4%), from €73,161 to €18,712
mainly Other debts (-€125,220) and Receivables within one year (-€38,656)
- Tangible fixed assets -€53,082
down €53,082 (-7.1%), from €751,535 to €698,453
of which Plant, machinery and equipment: -€34,231
- Receivables within one year +€38,656
up €38,656 (+267%), from €14,480 to €53,137
of which Other amounts receivable: +€38,201
- Other debts -€125,220
no longer reported in 2025 (was €125,220)
- Profit (loss) carried forward +€34,998
no longer reported in 2025 (was -€34,998)
- Reserves +€34,768
up €34,768 (+12.9%), from €269,599 to €304,366
of which Distributable reserves: +€42,904
- Debts after one year -€29,482
down €29,482 (-11.1%), from €266,756 to €237,274
of which Financial debts: -€29,482
- Tax, wage and social debts +€15,508
up €15,508 (+149%), from €10,437 to €25,945
- Gross operating margin +€103,958
up €103,958 (+159%), from €65,469 to €169,426
- Taxes +€18,525
up €18,525 (+17,027%), from €109 to €18,634
- Other operating charges -€5,652
down €5,652 (-55.3%), from €10,220 to €4,567
- Provisions +€5,470
no longer reported in 2025 (was -€5,470)
- Depreciation +€1,905
up €1,905 (+2.7%), from €69,579 to €71,483
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 | €847,184 | €772,116 | -€75,067 | -8.9% |
| Fixed assets | 21/28 | €751,535 | €698,453 | -€53,082 | -7.1% |
| Tangible fixed assets | 22/27 | €751,535 | €698,453 | -€53,082 | -7.1% |
| Land and buildings | 22 | €522,658 | €501,062 | -€21,596 | -4.1% |
| Plant, machinery and equipment | 23 | €227,400 | €193,168 | -€34,231 | -15.1% |
| Furniture and vehicles | 24 | €1,477 | €3,106 | +€1,628 | +110% |
| Leasing and similar rights | 25 | - | €1,117 | +€1,117 | |
| Current assets | 29/58 | €95,649 | €73,663 | -€21,985 | -23.0% |
| Amounts receivable after more than one year | 29 | €5,625 | €1,125 | -€4,500 | -80.0% |
| Trade receivables | 290 | €5,625 | €1,125 | -€4,500 | -80.0% |
| Amounts receivable within one year | 40/41 | €14,480 | €53,137 | +€38,656 | +267% |
| Trade receivables | 40 | €14,480 | €14,936 | +€456 | +3.1% |
| Other amounts receivable | 41 | - | €38,201 | +€38,201 | |
| Current investments | 50/53 | €26 | €26 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €73,161 | €18,712 | -€54,449 | -74.4% |
| Deferred charges and accrued income | 490/1 | €2,357 | €664 | -€1,693 | -71.8% |
| Total equity and liabilities | 10/49 | €847,184 | €772,116 | -€75,067 | -8.9% |
| Equity | 10/15 | €296,601 | €366,366 | +€69,766 | +23.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €269,599 | €304,366 | +€34,768 | +12.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €203,399 | €195,263 | -€8,136 | -4.0% |
| Distributable reserves | 133 | €60,000 | €102,904 | +€42,904 | +71.5% |
| Profit (loss) carried forward | 14 | -€34,998 | - | +€34,998 | |
| Provisions and deferred taxes | 16 | €104,734 | €100,545 | -€4,189 | -4.0% |
| Deferred taxes | 168 | €104,734 | €100,545 | -€4,189 | -4.0% |
| Amounts payable | 17/49 | €445,848 | €305,205 | -€140,643 | -31.5% |
| Amounts payable after more than one year | 17 | €266,756 | €237,274 | -€29,482 | -11.1% |
| Financial debts | 170/4 | €61,756 | €32,274 | -€29,482 | -47.7% |
| Other amounts payable | 178/9 | €205,000 | €205,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €171,293 | €60,131 | -€111,162 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €29,187 | €29,482 | +€294 | +1.0% |
| Trade debts | 44 | €6,447 | €4,704 | -€1,743 | -27.0% |
| Suppliers | 440/4 | €6,447 | €4,704 | -€1,743 | -27.0% |
| Taxes, remuneration and social security | 45 | €10,437 | €25,945 | +€15,508 | +149% |
| Taxes | 450/3 | €10,437 | €25,945 | +€15,508 | +149% |
| Other amounts payable | 47/48 | €125,220 | - | -€125,220 | |
| Accrued charges and deferred income | 492/3 | €7,800 | €7,800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,579 | €71,483 | +€1,905 | +2.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,470 | - | +€5,470 | |
| Other operating charges | 640/8 | €10,220 | €4,567 | -€5,652 | -55.3% |
| Non-recurring operating charges | 66A | - | €230 | +€230 | |
| Gross operating margin | 9900 | €65,469 | €169,426 | +€103,958 | +159% |
| Operating profit (loss) | 9901 | -€8,860 | €93,145 | +€102,005 | |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €9,751 | €8,949 | -€803 | -8.2% |
| Recurring financial charges | 65 | €9,751 | €8,949 | -€803 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,611 | €84,210 | +€102,821 | |
| Transfer from deferred taxes | 780 | €4,189 | €4,189 | = | 0.0% |
| Income taxes | 67/77 | €109 | €18,634 | +€18,525 | +17,027% |
| Profit (loss) for the period | 9904 | -€14,530 | €69,766 | +€84,296 | |
| Transfer from tax-exempt reserves | 789 | €8,136 | €8,136 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,394 | €77,902 | +€84,296 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.