MERIT PROPERTIES: 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.
MERIT PROPERTIES
Largest movements
- Receivables within one year +€11,141
up €11,141 (+376%), from €2,966 to €14,108
of which Other amounts receivable: +€14,103
- Cash -€10,096
down €10,096 (-99.9%), from €10,107 to €11
mainly Receivables within one year (-€11,141) and Stocks and contracts (-€2,601)
- Stocks and contracts +€2,601
up €2,601 (+2.4%), from €106,970 to €109,572
of which Stocks: +€1,609
- Reserves +€3,986
up €3,986 (+20.8%), from €19,176 to €23,162
of which Distributable reserves: +€3,986
- Gross operating margin -€12,212
down €12,212 (-65.8%), from €18,547 to €6,335
- Financial income +€548
up €548 (+1,811%), from €30 to €579
- Taxes -€539
down €539 (-19.5%), from €2,761 to €2,221
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 | €120,043 | €123,690 | +€3,647 | +3.0% |
| Current assets | 29/58 | €120,043 | €123,690 | +€3,647 | +3.0% |
| Stocks and contracts in progress | 3 | €106,970 | €109,572 | +€2,601 | +2.4% |
| Stocks | 30/36 | €106,970 | €108,579 | +€1,609 | +1.5% |
| Contracts in progress | 37 | - | €992 | +€992 | |
| Amounts receivable within one year | 40/41 | €2,966 | €14,108 | +€11,141 | +376% |
| Trade receivables | 40 | €2,962 | - | -€2,962 | |
| Other amounts receivable | 41 | €4 | €14,108 | +€14,103 | +324,960% |
| Cash at bank and in hand | 54/58 | €10,107 | €11 | -€10,096 | -99.9% |
| Total equity and liabilities | 10/49 | €120,043 | €123,690 | +€3,647 | +3.0% |
| Equity | 10/15 | €119,176 | €123,162 | +€3,986 | +3.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €19,176 | €23,162 | +€3,986 | +20.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €9,176 | €13,162 | +€3,986 | +43.4% |
| Amounts payable | 17/49 | €868 | €529 | -€339 | -39.1% |
| Amounts payable within one year | 42/48 | €868 | €529 | -€339 | -39.1% |
| Trade debts | 44 | €305 | €5 | -€300 | -98.4% |
| Suppliers | 440/4 | €305 | €5 | -€300 | -98.4% |
| Taxes, remuneration and social security | 45 | €563 | €399 | -€164 | -29.2% |
| Taxes | 450/3 | €563 | €399 | -€164 | -29.2% |
| Other amounts payable | 47/48 | - | €125 | +€125 | |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Gross operating margin | 9900 | €18,547 | €6,335 | -€12,212 | -65.8% |
| Operating profit (loss) | 9901 | €18,047 | €5,822 | -€12,226 | -67.7% |
| Financial income | 75/76B | €30 | €579 | +€548 | +1,811% |
| Recurring financial income | 75 | €30 | €579 | +€548 | +1,811% |
| Financial charges | 65/66B | €237 | €193 | -€44 | -18.6% |
| Recurring financial charges | 65 | €237 | €193 | -€44 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €17,840 | €6,207 | -€11,633 | -65.2% |
| Income taxes | 67/77 | €2,761 | €2,221 | -€539 | -19.5% |
| Profit (loss) for the period | 9904 | €15,080 | €3,986 | -€11,094 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,080 | €3,986 | -€11,094 | -73.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.