MERKEZEEL: 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.
MERKEZEEL
Largest movements
- Cash +€767
up €767 (+407%), from €188 to €956
mainly Other debts (+€4,604) and Trade debts (+€67)
- Other debts +€4,604
up €4,604 (+43.3%), from €10,645 to €15,249
- Profit (loss) carried forward -€3,904
down €3,904 (-22.3%), from -€17,491 to -€21,395
- Trade debts +€67
up €67 (+8.0%), from €835 to €901
- Financial charges +€143
up €143 (+28.2%), from €506 to €649
- Gross operating margin -€67
down €67 (-2.5%), from -€2,668 to -€2,735
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 | €188 | €956 | +€767 | +407% |
| Current assets | 29/58 | €188 | €956 | +€767 | +407% |
| Cash at bank and in hand | 54/58 | €188 | €956 | +€767 | +407% |
| Total equity and liabilities | 10/49 | €188 | €956 | +€767 | +407% |
| Equity | 10/15 | -€11,291 | -€15,195 | -€3,904 | -34.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,491 | -€21,395 | -€3,904 | -22.3% |
| Amounts payable | 17/49 | €11,480 | €16,151 | +€4,671 | +40.7% |
| Amounts payable within one year | 42/48 | €11,480 | €16,151 | +€4,671 | +40.7% |
| Trade debts | 44 | €835 | €901 | +€67 | +8.0% |
| Suppliers | 440/4 | €835 | €901 | +€67 | +8.0% |
| Other amounts payable | 47/48 | €10,645 | €15,249 | +€4,604 | +43.3% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€2,668 | -€2,735 | -€67 | -2.5% |
| Operating profit (loss) | 9901 | -€3,173 | -€3,254 | -€81 | -2.6% |
| Financial charges | 65/66B | €506 | €649 | +€143 | +28.2% |
| Recurring financial charges | 65 | €506 | €649 | +€143 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,680 | -€3,904 | -€224 | -6.1% |
| Profit (loss) for the period | 9904 | -€3,680 | -€3,904 | -€224 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,680 | -€3,904 | -€224 | -6.1% |
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.