Mérite de l'eau: 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.
Mérite de l'eau
Largest movements
- Receivables within one year +€48,139
up €48,139 (+72.1%), from €66,760 to €114,898
of which Other amounts receivable: +€79,979
- Cash -€16,680
down €16,680 (-79.8%), from €20,897 to €4,217
mainly Receivables within one year (-€48,139) and Investment in fixed assets (net) (-€18,430)
- Tangible fixed assets +€12,729
up €12,729 (+31.8%), from €40,062 to €52,791
of which Plant, machinery and equipment: +€15,796
- Reserves +€36,322
up €36,322 (+54.4%), from €66,758 to €103,080
- Tax, wage and social debts +€11,299
up €11,299 (+56.4%), from €20,026 to €31,326
of which Taxes: +€8,304
- Trade debts -€3,091
down €3,091 (-15.9%), from €19,378 to €16,287
- Gross operating margin -€22,621
down €22,621 (-24.6%), from €91,868 to €69,247
- Other operating charges -€6,484
down €6,484 (-80.5%), from €8,050 to €1,566
- Financial charges -€2,156
down €2,156 (-12.3%), from €17,535 to €15,379
- Financial income +€2,063
up €2,063 (+152%), from €1,355 to €3,418
- Depreciation +€1,233
up €1,233 (+27.6%), from €4,468 to €5,701
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 | €128,062 | €172,593 | +€44,531 | +34.8% |
| Fixed assets | 21/28 | €40,062 | €52,791 | +€12,729 | +31.8% |
| Tangible fixed assets | 22/27 | €40,062 | €52,791 | +€12,729 | +31.8% |
| Plant, machinery and equipment | 23 | €6,512 | €22,308 | +€15,796 | +243% |
| Furniture and vehicles | 24 | €14,429 | €12,546 | -€1,883 | -13.0% |
| Other tangible fixed assets | 26 | €19,121 | €17,936 | -€1,184 | -6.2% |
| Current assets | 29/58 | €88,000 | €119,802 | +€31,802 | +36.1% |
| Amounts receivable within one year | 40/41 | €66,760 | €114,898 | +€48,139 | +72.1% |
| Trade receivables | 40 | €39,341 | €7,501 | -€31,841 | -80.9% |
| Other amounts receivable | 41 | €27,418 | €107,398 | +€79,979 | +292% |
| Cash at bank and in hand | 54/58 | €20,897 | €4,217 | -€16,680 | -79.8% |
| Deferred charges and accrued income | 490/1 | €343 | €687 | +€344 | +100% |
| Total equity and liabilities | 10/49 | €128,062 | €172,593 | +€44,531 | +34.8% |
| Equity | 10/15 | €79,158 | €115,480 | +€36,322 | +45.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €66,758 | €103,080 | +€36,322 | +54.4% |
| Distributable reserves | 133 | €66,758 | €103,080 | +€36,322 | +54.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €48,904 | €57,113 | +€8,209 | +16.8% |
| Amounts payable within one year | 42/48 | €48,904 | €57,113 | +€8,209 | +16.8% |
| Trade debts | 44 | €19,378 | €16,287 | -€3,091 | -15.9% |
| Suppliers | 440/4 | €19,378 | €16,287 | -€3,091 | -15.9% |
| Taxes, remuneration and social security | 45 | €20,026 | €31,326 | +€11,299 | +56.4% |
| Taxes | 450/3 | €20,026 | €28,330 | +€8,304 | +41.5% |
| Remuneration and social security | 454/9 | €0 | €2,996 | +€2,996 | |
| Other amounts payable | 47/48 | €9,500 | €9,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,468 | €5,701 | +€1,233 | +27.6% |
| Other operating charges | 640/8 | €8,050 | €1,566 | -€6,484 | -80.5% |
| Gross operating margin | 9900 | €91,868 | €69,247 | -€22,621 | -24.6% |
| Operating profit (loss) | 9901 | €79,350 | €61,979 | -€17,370 | -21.9% |
| Financial income | 75/76B | €1,355 | €3,418 | +€2,063 | +152% |
| Recurring financial income | 75 | €1,355 | €3,418 | +€2,063 | +152% |
| Financial charges | 65/66B | €17,535 | €15,379 | -€2,156 | -12.3% |
| Recurring financial charges | 65 | €17,535 | €15,379 | -€2,156 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €63,170 | €50,019 | -€13,151 | -20.8% |
| Income taxes | 67/77 | €13,906 | €13,697 | -€209 | -1.5% |
| Profit (loss) for the period | 9904 | €49,264 | €36,322 | -€12,942 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,264 | €36,322 | -€12,942 | -26.3% |
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 26 October 2026 via checked.be.