MERCY: 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.
MERCY
Largest movements
- Tangible fixed assets -€231,443
down €231,443 (-30.8%), from €751,327 to €519,884
of which Leasing and similar rights: -€191,518
- Receivables within one year +€47,139
up €47,139 (+8.0%), from €588,936 to €636,075
of which Trade receivables: +€59,560
- Cash +€16,658
up €16,658 (+706%), from €2,359 to €19,017
mainly Depreciation (+€165,151) and Investment in fixed assets (net) (+€66,692)
- Trade debts -€149,982
down €149,982 (-21.5%), from €697,645 to €547,663
- Current portion of long-term debt -€58,018
down €58,018 (-55.2%), from €105,073 to €47,055
- Tax, wage and social debts +€54,788
up €54,788 (+77.3%), from €70,877 to €125,665
of which Taxes: +€52,773
- Debts after one year -€49,639
down €49,639 (-42.9%), from €115,805 to €66,166
- Profit (loss) carried forward +€35,857
no longer reported in 2025 (was -€35,857)
- Turnover -€1.6m
no longer reported in 2025 (was €1.6m)
- Gross operating margin +€103,003
up €103,003 (+16.5%), from €623,322 to €726,325
- Staff costs +€67,141
up €67,141 (+18.0%), from €373,252 to €440,393
- Depreciation -€62,126
down €62,126 (-27.3%), from €227,277 to €165,151
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 | €1,400,412 | €1,232,366 | -€168,046 | -12.0% |
| Fixed assets | 21/28 | €751,727 | €519,884 | -€231,843 | -30.8% |
| Tangible fixed assets | 22/27 | €751,327 | €519,884 | -€231,443 | -30.8% |
| Land and buildings | 22 | €33,118 | €45,188 | +€12,070 | +36.4% |
| Plant, machinery and equipment | 23 | €77,387 | €53,423 | -€23,964 | -31.0% |
| Furniture and vehicles | 24 | €25,733 | €15,329 | -€10,404 | -40.4% |
| Leasing and similar rights | 25 | €597,461 | €405,943 | -€191,518 | -32.1% |
| Assets under construction and advance payments | 27 | €17,628 | - | -€17,628 | |
| Financial fixed assets | 28 | €400 | - | -€400 | |
| Current assets | 29/58 | €648,685 | €712,482 | +€63,797 | +9.8% |
| Amounts receivable within one year | 40/41 | €588,936 | €636,075 | +€47,139 | +8.0% |
| Trade receivables | 40 | €439,018 | €498,578 | +€59,560 | +13.6% |
| Other amounts receivable | 41 | €149,918 | €137,498 | -€12,420 | -8.3% |
| Cash at bank and in hand | 54/58 | €2,359 | €19,017 | +€16,658 | +706% |
| Deferred charges and accrued income | 490/1 | €57,390 | €57,390 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €1,400,412 | €1,232,366 | -€168,046 | -12.0% |
| Equity | 10/15 | €182,304 | €224,473 | +€42,169 | +23.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €188,161 | €194,473 | +€6,312 | +3.4% |
| Tax-exempt reserves | 132 | €53,293 | €43,125 | -€10,168 | -19.1% |
| Distributable reserves | 133 | €134,868 | €151,348 | +€16,480 | +12.2% |
| Profit (loss) carried forward | 14 | -€35,857 | - | +€35,857 | |
| Provisions and deferred taxes | 16 | €17,764 | €14,375 | -€3,389 | -19.1% |
| Provisions for liabilities and charges | 160/5 | €17,764 | - | -€17,764 | |
| Taxes | 161 | €17,764 | - | -€17,764 | |
| Deferred taxes | 168 | - | €14,375 | +€14,375 | |
| Amounts payable | 17/49 | €1,200,344 | €993,518 | -€206,826 | -17.2% |
| Amounts payable after more than one year | 17 | €115,805 | €66,166 | -€49,639 | -42.9% |
| Financial debts | 170/4 | €115,805 | €66,166 | -€49,639 | -42.9% |
| Amounts payable within one year | 42/48 | €1,084,539 | €927,352 | -€157,187 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €105,073 | €47,055 | -€58,018 | -55.2% |
| Financial debts | 43 | €108,033 | €100,000 | -€8,033 | -7.4% |
| Credit institutions | 430/8 | €108,033 | €100,000 | -€8,033 | -7.4% |
| Trade debts | 44 | €697,645 | €547,663 | -€149,982 | -21.5% |
| Suppliers | 440/4 | €697,645 | €547,663 | -€149,982 | -21.5% |
| Taxes, remuneration and social security | 45 | €70,877 | €125,665 | +€54,788 | +77.3% |
| Taxes | 450/3 | €8,514 | €61,287 | +€52,773 | +620% |
| Remuneration and social security | 454/9 | €62,363 | €64,378 | +€2,015 | +3.2% |
| Other amounts payable | 47/48 | €102,911 | €106,969 | +€4,058 | +3.9% |
| Turnover | 70 | €1,556,451 | - | -€1.6m | |
| Non-recurring operating income | 76A | €258,892 | €95,000 | -€163,892 | -63.3% |
| Remuneration, social security and pensions | 62 | €373,252 | €440,393 | +€67,141 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227,277 | €165,151 | -€62,126 | -27.3% |
| Other operating charges | 640/8 | €41,908 | €45,028 | +€3,120 | +7.4% |
| Gross operating margin | 9900 | €623,322 | €726,325 | +€103,003 | +16.5% |
| Operating profit (loss) | 9901 | -€19,115 | €75,753 | +€94,868 | |
| Financial income | 75/76B | €1,156 | €2,494 | +€1,338 | +116% |
| Recurring financial income | 75 | €836 | €1 | -€835 | -99.8% |
| Non-recurring financial income | 76B | €320 | €2,493 | +€2,173 | +679% |
| Financial charges | 65/66B | €48,571 | €34,686 | -€13,885 | -28.6% |
| Recurring financial charges | 65 | €47,176 | €33,686 | -€13,490 | -28.6% |
| Non-recurring financial charges | 66B | €1,395 | €1,000 | -€395 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€66,530 | €43,561 | +€110,091 | |
| Transfer from deferred taxes | 780 | - | €17,764 | +€17,764 | |
| Transfer to deferred taxes | 680 | - | €14,375 | +€14,375 | |
| Income taxes | 67/77 | -€352 | €4,781 | +€5,133 | |
| Profit (loss) for the period | 9904 | -€66,178 | €42,169 | +€108,347 | |
| Transfer from tax-exempt reserves | 789 | - | €53,293 | +€53,293 | |
| Transfer to tax-exempt reserves | 689 | - | €43,125 | +€43,125 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,178 | €52,337 | +€118,515 |
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 14 October 2026 via checked.be.