MERGY: 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.
MERGY
Largest movements
- Cash +€52,081
up €52,081 (+63.0%), from €82,688 to €134,770
mainly Net result for the year (+€28,220) and Other debts (+€24,386)
- Tangible fixed assets -€5,232
down €5,232 (-7.7%), from €67,630 to €62,398
of which Land and buildings: -€5,122
- Profit (loss) carried forward +€28,220
up €28,220 (+9.7%), from -€290,203 to -€261,984
- Other debts +€24,386
up €24,386 (+67.2%), from €36,313 to €60,699
- Tax, wage and social debts -€3,325
down €3,325 (-94.2%), from €3,528 to €204
of which Remuneration and social security: -€3,331
- Gross operating margin +€29,931
up €29,931 (+117%), from €25,594 to €55,526
- Financial charges -€1,623
down €1,623 (-9.7%), from €16,666 to €15,043
- Depreciation -€1,237
down €1,237 (-14.5%), from €8,551 to €7,314
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 | €164,622 | €212,282 | +€47,660 | +29.0% |
| Fixed assets | 21/28 | €67,655 | €62,423 | -€5,232 | -7.7% |
| Tangible fixed assets | 22/27 | €67,630 | €62,398 | -€5,232 | -7.7% |
| Land and buildings | 22 | €63,922 | €58,801 | -€5,122 | -8.0% |
| Furniture and vehicles | 24 | €3,707 | €3,597 | -€110 | -3.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €96,967 | €149,859 | +€52,892 | +54.5% |
| Amounts receivable within one year | 40/41 | €12,821 | €12,671 | -€150 | -1.2% |
| Trade receivables | 40 | €12,671 | €12,671 | = | 0.0% |
| Other amounts receivable | 41 | €150 | - | -€150 | |
| Cash at bank and in hand | 54/58 | €82,688 | €134,770 | +€52,081 | +63.0% |
| Deferred charges and accrued income | 490/1 | €1,458 | €2,418 | +€960 | +65.9% |
| Total equity and liabilities | 10/49 | €164,622 | €212,282 | +€47,660 | +29.0% |
| Equity | 10/15 | -€221,719 | -€193,499 | +€28,220 | +12.7% |
| Contributions | 10/11 | €68,171 | €68,171 | = | 0.0% |
| Reserves | 13 | €314 | €314 | = | 0.0% |
| Distributable reserves | 133 | €314 | €314 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€290,203 | -€261,984 | +€28,220 | +9.7% |
| Amounts payable | 17/49 | €386,340 | €405,780 | +€19,440 | +5.0% |
| Amounts payable after more than one year | 17 | €338,543 | €338,543 | = | 0.0% |
| Other amounts payable | 178/9 | €338,543 | €338,543 | = | 0.0% |
| Amounts payable within one year | 42/48 | €43,959 | €63,836 | +€19,877 | +45.2% |
| Trade debts | 44 | €4,118 | €2,933 | -€1,185 | -28.8% |
| Suppliers | 440/4 | €4,118 | €2,933 | -€1,185 | -28.8% |
| Taxes, remuneration and social security | 45 | €3,528 | €204 | -€3,325 | -94.2% |
| Taxes | 450/3 | €197 | €204 | +€6 | +3.2% |
| Remuneration and social security | 454/9 | €3,331 | - | -€3,331 | |
| Other amounts payable | 47/48 | €36,313 | €60,699 | +€24,386 | +67.2% |
| Accrued charges and deferred income | 492/3 | €3,838 | €3,401 | -€437 | -11.4% |
| Non-recurring operating income | 76A | - | €1,962 | +€1,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,551 | €7,314 | -€1,237 | -14.5% |
| Other operating charges | 640/8 | €4,604 | €4,748 | +€145 | +3.1% |
| Gross operating margin | 9900 | €25,594 | €55,526 | +€29,931 | +117% |
| Operating profit (loss) | 9901 | €12,439 | €43,463 | +€31,024 | +249% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €16,666 | €15,043 | -€1,623 | -9.7% |
| Recurring financial charges | 65 | €16,666 | €15,043 | -€1,623 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,226 | €28,423 | +€32,650 | |
| Income taxes | 67/77 | €197 | €204 | +€6 | +3.2% |
| Profit (loss) for the period | 9904 | -€4,424 | €28,220 | +€32,643 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,424 | €28,220 | +€32,643 |
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 25 October 2026 via checked.be.