MERGAN & C°: 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.
MERGAN & C°
Largest movements
- Receivables within one year -€19,066
down €19,066 (-56.3%), from €33,863 to €14,797
of which Trade receivables: -€18,384
- Financial fixed assets -€15,000
down €15,000 (-19.3%), from €77,699 to €62,699
- Tangible fixed assets -€11,181
down €11,181 (-44.8%), from €24,938 to €13,757
of which Furniture and vehicles: -€8,026
- Cash +€10,158
up €10,158 (+3,848%), from €264 to €10,422
mainly Receivables within one year (+€19,066) and Investment in fixed assets (net) (+€15,000)
- Trade debts -€15,147
down €15,147 (-82.6%), from €18,338 to €3,191
- Other debts -€10,311
down €10,311 (-48.8%), from €21,136 to €10,825
- Debts after one year -€7,174
no longer reported in 2025 (was €7,174)
- Short-term financial debts -€3,412
down €3,412 (-32.2%), from €10,586 to €7,174
- Purchases and services -€84,127
down €84,127 (-42.4%), from €198,544 to €114,417
- Turnover -€78,784
down €78,784 (-38.1%), from €206,881 to €128,097
- Gross operating margin +€5,343
up €5,343 (+64.1%), from €8,337 to €13,680
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 | €156,112 | €120,528 | -€35,584 | -22.8% |
| Fixed assets | 21/28 | €102,637 | €76,456 | -€26,181 | -25.5% |
| Tangible fixed assets | 22/27 | €24,938 | €13,757 | -€11,181 | -44.8% |
| Plant, machinery and equipment | 23 | €2,782 | €1,321 | -€1,461 | -52.5% |
| Furniture and vehicles | 24 | €15,190 | €7,164 | -€8,026 | -52.8% |
| Other tangible fixed assets | 26 | €6,966 | €5,272 | -€1,694 | -24.3% |
| Financial fixed assets | 28 | €77,699 | €62,699 | -€15,000 | -19.3% |
| Current assets | 29/58 | €53,475 | €44,072 | -€9,403 | -17.6% |
| Stocks and contracts in progress | 3 | €19,348 | €18,853 | -€495 | -2.6% |
| Stocks | 30/36 | €18,848 | €17,953 | -€895 | -4.7% |
| Contracts in progress | 37 | €500 | €900 | +€400 | +80.0% |
| Amounts receivable within one year | 40/41 | €33,863 | €14,797 | -€19,066 | -56.3% |
| Trade receivables | 40 | €28,344 | €9,960 | -€18,384 | -64.9% |
| Other amounts receivable | 41 | €5,519 | €4,837 | -€682 | -12.4% |
| Cash at bank and in hand | 54/58 | €264 | €10,422 | +€10,158 | +3,848% |
| Total equity and liabilities | 10/49 | €156,112 | €120,528 | -€35,584 | -22.8% |
| Equity | 10/15 | €98,878 | €99,338 | +€460 | +0.5% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €23,740 | €23,740 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,740 | €23,740 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,740 | €23,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,391 | €45,851 | +€460 | +1.0% |
| Amounts payable | 17/49 | €57,234 | €21,190 | -€36,044 | -63.0% |
| Amounts payable after more than one year | 17 | €7,174 | - | -€7,174 | |
| Financial debts | 170/4 | €7,174 | - | -€7,174 | |
| Amounts payable within one year | 42/48 | €50,060 | €21,190 | -€28,870 | -57.7% |
| Financial debts | 43 | €10,586 | €7,174 | -€3,412 | -32.2% |
| Credit institutions | 430/8 | €10,586 | €7,174 | -€3,412 | -32.2% |
| Trade debts | 44 | €18,338 | €3,191 | -€15,147 | -82.6% |
| Suppliers | 440/4 | €18,338 | €3,191 | -€15,147 | -82.6% |
| Other amounts payable | 47/48 | €21,136 | €10,825 | -€10,311 | -48.8% |
| Turnover | 70 | €206,881 | €128,097 | -€78,784 | -38.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €198,544 | €114,417 | -€84,127 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,028 | €11,181 | -€847 | -7.0% |
| Other operating charges | 640/8 | €1,995 | €1,280 | -€715 | -35.8% |
| Gross operating margin | 9900 | €8,337 | €13,680 | +€5,343 | +64.1% |
| Operating profit (loss) | 9901 | -€5,686 | €1,219 | +€6,905 | |
| Financial income | 75/76B | €8 | €199 | +€191 | +2,388% |
| Recurring financial income | 75 | €8 | €149 | +€141 | +1,763% |
| Non-recurring financial income | 76B | - | €50 | +€50 | |
| Financial charges | 65/66B | €805 | €762 | -€43 | -5.3% |
| Recurring financial charges | 65 | €805 | €762 | -€43 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,483 | €656 | +€7,139 | |
| Income taxes | 67/77 | €1,250 | €196 | -€1,054 | -84.3% |
| Profit (loss) for the period | 9904 | -€7,733 | €460 | +€8,193 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,733 | €460 | +€8,193 |
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.