Mericulus: 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.
Mericulus
Largest movements
- Cash -€28,062
down €28,062 (-60.7%), from €46,214 to €18,152
mainly Debts after one year (-€138,725) and Receivables within one year (-€14,496)
- Debts after one year -€138,725
down €138,725 (-17.0%), from €814,624 to €675,900
- Profit (loss) carried forward +€118,998
up €118,998 (+77.2%), from €154,102 to €273,100
- Gross operating margin +€44,559
up €44,559 (+31.7%), from €140,601 to €185,160
- Financial charges +€11,602
up €11,602 (+109%), from €10,609 to €22,211
- Taxes +€5,502
up €5,502 (+15.2%), from €36,100 to €41,602
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 | €1,513,295 | €1,504,661 | -€8,634 | -0.6% |
| Formation expenses | 20 | €697 | €453 | -€244 | -35.0% |
| Fixed assets | 21/28 | €1,432,219 | €1,435,271 | +€3,052 | +0.2% |
| Tangible fixed assets | 22/27 | €2,219 | €5,271 | +€3,052 | +138% |
| Plant, machinery and equipment | 23 | €1,354 | €4,620 | +€3,266 | +241% |
| Furniture and vehicles | 24 | €865 | €651 | -€214 | -24.8% |
| Financial fixed assets | 28 | €1,430,000 | €1,430,000 | = | 0.0% |
| Current assets | 29/58 | €80,379 | €68,937 | -€11,441 | -14.2% |
| Amounts receivable within one year | 40/41 | €34,165 | €48,661 | +€14,496 | +42.4% |
| Trade receivables | 40 | €34,157 | €48,650 | +€14,492 | +42.4% |
| Other amounts receivable | 41 | €8 | €11 | +€4 | +46.9% |
| Cash at bank and in hand | 54/58 | €46,214 | €18,152 | -€28,062 | -60.7% |
| Deferred charges and accrued income | 490/1 | - | €2,125 | +€2,125 | |
| Total equity and liabilities | 10/49 | €1,513,295 | €1,504,661 | -€8,634 | -0.6% |
| Equity | 10/15 | €156,102 | €275,100 | +€118,998 | +76.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,102 | €273,100 | +€118,998 | +77.2% |
| Amounts payable | 17/49 | €1,357,193 | €1,229,561 | -€127,632 | -9.4% |
| Amounts payable after more than one year | 17 | €814,624 | €675,900 | -€138,725 | -17.0% |
| Financial debts | 170/4 | €814,624 | €675,900 | -€138,725 | -17.0% |
| Amounts payable within one year | 42/48 | €542,569 | €553,661 | +€11,092 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €135,532 | €138,725 | +€3,192 | +2.4% |
| Financial debts | 43 | - | €10,094 | +€10,094 | |
| Credit institutions | 430/8 | - | €10,094 | +€10,094 | |
| Trade debts | 44 | €6,693 | €6,341 | -€352 | -5.3% |
| Suppliers | 440/4 | €6,693 | €6,341 | -€352 | -5.3% |
| Taxes, remuneration and social security | 45 | €30,444 | €28,455 | -€1,989 | -6.5% |
| Taxes | 450/3 | €30,444 | €28,455 | -€1,989 | -6.5% |
| Other amounts payable | 47/48 | €369,900 | €370,048 | +€148 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,314 | €1,714 | +€401 | +30.5% |
| Other operating charges | 640/8 | €609 | €635 | +€26 | +4.3% |
| Gross operating margin | 9900 | €140,601 | €185,160 | +€44,559 | +31.7% |
| Operating profit (loss) | 9901 | €138,678 | €182,811 | +€44,132 | +31.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €10,609 | €22,211 | +€11,602 | +109% |
| Recurring financial charges | 65 | €10,609 | €22,211 | +€11,602 | +109% |
| Profit (loss) for the period before taxes | 9903 | €128,069 | €160,600 | +€32,531 | +25.4% |
| Income taxes | 67/77 | €36,100 | €41,602 | +€5,502 | +15.2% |
| Profit (loss) for the period | 9904 | €91,969 | €118,998 | +€27,029 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,969 | €118,998 | +€27,029 | +29.4% |
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 29 October 2026 via checked.be.