MERHEY: what changed
Two fiscal 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.
MERHEY
Largest movements
- Tangible fixed assets -€1,468
down €1,468 (-5.9%), from €24,701 to €23,233
- Cash -€323
down €323 (-94.0%), from €344 to €21
mainly Net result for the year (-€1,177) and Other debts (-€614)
- Profit (loss) carried forward -€981
down €981 (-3.5%), from -€27,644 to -€28,624
- Other debts -€614
down €614 (-2.2%), from €28,124 to €27,510
- Gross operating margin -€478
down €478 (-22.6%), from €2,116 to €1,639
- Financial charges +€102
up €102 (+70.7%), from €143 to €245
- Other operating charges +€32
up €32 (+3.0%), from €1,071 to €1,103
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.
Cash bridge derived
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 | €25,045 | €23,254 | -€1,791 | -7.2% |
| Fixed assets | 21/28 | €24,701 | €23,233 | -€1,468 | -5.9% |
| Tangible fixed assets | 22/27 | €24,701 | €23,233 | -€1,468 | -5.9% |
| Land and buildings | 22 | €24,701 | €23,233 | -€1,468 | -5.9% |
| Current assets | 29/58 | €344 | €21 | -€323 | -94.0% |
| Cash at bank and in hand | 54/58 | €344 | €21 | -€323 | -94.0% |
| Total equity and liabilities | 10/49 | €25,045 | €23,254 | -€1,791 | -7.2% |
| Equity | 10/15 | -€3,079 | -€4,256 | -€1,177 | -38.2% |
| Contributions | 10/11 | €24,368 | €24,368 | = | 0.0% |
| Reserves | 13 | €197 | €0 | -€197 | -100.0% |
| Distributable reserves | 133 | €197 | €0 | -€197 | -100.0% |
| Profit (loss) carried forward | 14 | -€27,644 | -€28,624 | -€981 | -3.5% |
| Amounts payable | 17/49 | €28,124 | €27,510 | -€614 | -2.2% |
| Amounts payable within one year | 42/48 | €28,124 | €27,510 | -€614 | -2.2% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €28,124 | €27,510 | -€614 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,468 | €1,468 | = | 0.0% |
| Other operating charges | 640/8 | €1,071 | €1,103 | +€32 | +3.0% |
| Gross operating margin | 9900 | €2,116 | €1,639 | -€478 | -22.6% |
| Operating profit (loss) | 9901 | -€422 | -€932 | -€510 | -120.6% |
| Financial charges | 65/66B | €143 | €245 | +€102 | +70.7% |
| Recurring financial charges | 65 | €143 | €245 | +€102 | +70.7% |
| Profit (loss) for the period before taxes | 9903 | -€566 | -€1,177 | -€611 | -108.0% |
| Profit (loss) for the period | 9904 | -€566 | -€1,177 | -€611 | -108.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€566 | -€1,177 | -€611 | -108.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.