Merlet Advies: 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.
Merlet Advies
Largest movements
- Cash +€16,052
up €16,052 (+887%), from €1,809 to €17,861
mainly Accrued charges and deferred income (+€8,208) and Trade debts (+€4,802)
- Receivables within one year -€3,658
down €3,658 (-15.5%), from €23,629 to €19,970
of which Other amounts receivable: -€9,660
- Tangible fixed assets -€1,692
down €1,692 (-60.9%), from €2,778 to €1,086
of which Plant, machinery and equipment: -€1,735
- Accrued charges and deferred income +€8,208
new in 2025: €8,208
- Trade debts +€4,802
up €4,802 (+144%), from €3,333 to €8,136
- Tax, wage and social debts -€2,184
down €2,184 (-72.2%), from €3,024 to €840
- Other debts +€572
new in 2025: €572
- Profit (loss) carried forward -€468
down €468 (-77.1%), from €607 to €139
- Gross operating margin +€10,864
up €10,864, from -€6,710 to €4,153
- Staff costs +€960
new in 2025: €960
- Financial charges +€381
up €381 (+294%), from €130 to €511
- Other operating charges +€215
up €215 (+42.6%), from €505 to €721
- Financial income -€213
down €213 (-99.8%), from €213 to €0
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 | €28,436 | €39,366 | +€10,930 | +38.4% |
| Fixed assets | 21/28 | €2,778 | €1,086 | -€1,692 | -60.9% |
| Tangible fixed assets | 22/27 | €2,778 | €1,086 | -€1,692 | -60.9% |
| Plant, machinery and equipment | 23 | €2,404 | €669 | -€1,735 | -72.2% |
| Furniture and vehicles | 24 | €374 | €417 | +€43 | +11.5% |
| Current assets | 29/58 | €25,658 | €38,280 | +€12,622 | +49.2% |
| Amounts receivable within one year | 40/41 | €23,629 | €19,970 | -€3,658 | -15.5% |
| Trade receivables | 40 | €9,480 | €15,482 | +€6,002 | +63.3% |
| Other amounts receivable | 41 | €14,149 | €4,488 | -€9,660 | -68.3% |
| Cash at bank and in hand | 54/58 | €1,809 | €17,861 | +€16,052 | +887% |
| Deferred charges and accrued income | 490/1 | €220 | €448 | +€228 | +104% |
| Total equity and liabilities | 10/49 | €28,436 | €39,366 | +€10,930 | +38.4% |
| Equity | 10/15 | €22,078 | €21,610 | -€468 | -2.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,472 | €16,472 | = | 0.0% |
| Distributable reserves | 133 | €16,472 | €16,472 | = | 0.0% |
| Profit (loss) carried forward | 14 | €607 | €139 | -€468 | -77.1% |
| Amounts payable | 17/49 | €6,357 | €17,756 | +€11,398 | +179% |
| Amounts payable within one year | 42/48 | €6,357 | €9,547 | +€3,190 | +50.2% |
| Trade debts | 44 | €3,333 | €8,136 | +€4,802 | +144% |
| Suppliers | 440/4 | €3,333 | €8,136 | +€4,802 | +144% |
| Taxes, remuneration and social security | 45 | €3,024 | €840 | -€2,184 | -72.2% |
| Taxes | 450/3 | €3,024 | €840 | -€2,184 | -72.2% |
| Other amounts payable | 47/48 | - | €572 | +€572 | |
| Accrued charges and deferred income | 492/3 | - | €8,208 | +€8,208 | |
| Remuneration, social security and pensions | 62 | - | €960 | +€960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €2,233 | -€165 | -6.9% |
| Other operating charges | 640/8 | €505 | €721 | +€215 | +42.6% |
| Gross operating margin | 9900 | -€6,710 | €4,153 | +€10,864 | |
| Operating profit (loss) | 9901 | -€9,613 | €240 | +€9,853 | |
| Financial income | 75/76B | €213 | €0 | -€213 | -99.8% |
| Recurring financial income | 75 | €213 | €0 | -€213 | -99.8% |
| Financial charges | 65/66B | €130 | €511 | +€381 | +294% |
| Recurring financial charges | 65 | €130 | €511 | +€381 | +294% |
| Profit (loss) for the period before taxes | 9903 | -€9,530 | -€271 | +€9,259 | +97.2% |
| Income taxes | 67/77 | - | €197 | +€197 | |
| Profit (loss) for the period | 9904 | -€9,530 | -€468 | +€9,062 | +95.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,530 | -€468 | +€9,062 | +95.1% |
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 27 October 2026 via checked.be.