MERLIER BART: 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.
What changed
MERLIER BART
NACE 16.230, Manufacture of other builders' carpentry and joinery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,015
2024 · €51,960-€47,946
Equity
€679,022
2024 · €676,299+€2,723
Cash
€183,764
2024 · €240,552-€56,788
Balance sheet total
€1.7m
2024 · €1.8m-€148,212
Largest movements
Assets
- Tangible fixed assets -€89,352
down €89,352 (-6.8%), from €1.3m to €1.2m
of which Land and buildings: -€47,325
- Cash -€56,788
down €56,788 (-23.6%), from €240,552 to €183,764
mainly Trade debts (-€63,315) and Debts after one year (-€61,959)
Equity and liabilities
- Trade debts -€63,315
down €63,315 (-72.8%), from €87,022 to €23,707
- Debts after one year -€61,959
down €61,959 (-13.7%), from €451,552 to €389,593
- Other debts -€24,856
down €24,856 (-4.9%), from €507,605 to €482,749
Income statement
- Gross operating margin -€76,716
down €76,716 (-31.4%), from €244,623 to €167,907
- Financial income +€13,207
up €13,207 (+256%), from €5,155 to €18,362
of which Financial income: +€13,207
- Depreciation +€5,025
up €5,025 (+5.1%), from €99,123 to €104,148
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.
Result 2024
€51,960
Gross operating margin
-€76,716
Staff costs
+€2,304
Depreciation
-€5,025
Other operating charges
+€1,175
Financial income
+€13,207
Financial charges
-€1,895
Taxes
-€543
Deferred taxes and other
+€19,546
Result 2025
€4,015
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€23,144
Investment
-€14,796
Financing
-€65,135
Cash 2024
€240,552
From operations (derived)
+€23,144
Net result for the year
+€4,015
Depreciation
+€104,148
Stocks and contracts
-€15,694
Receivables within one year
+€17,052
Deferred charges and accrued income
+€715
Provisions
+€605
Trade debts
-€63,315
Tax, wage and social debts
+€475
Other debts
-€24,856
Investment (derived)
-€14,796
Investment in fixed assets (net)
-€14,796
Financing
-€65,135
Debts after one year
-€61,959
Current portion of long-term debt
-€1,884
Contributions, distributions and other
-€1,292
Cash 2025
€183,764
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,811,742 | €1,663,530 | -€148,212 | -8.2% |
| Fixed assets | 21/28 | €1,319,352 | €1,230,000 | -€89,352 | -6.8% |
| Tangible fixed assets | 22/27 | €1,319,352 | €1,230,000 | -€89,352 | -6.8% |
| Land and buildings | 22 | €1,193,516 | €1,146,191 | -€47,325 | -4.0% |
| Plant, machinery and equipment | 23 | €45,468 | €25,015 | -€20,453 | -45.0% |
| Furniture and vehicles | 24 | €72,951 | €57,317 | -€15,634 | -21.4% |
| Leasing and similar rights | 25 | €7,416 | €1,476 | -€5,940 | -80.1% |
| Current assets | 29/58 | €492,390 | €433,530 | -€58,860 | -12.0% |
| Stocks and contracts in progress | 3 | €0 | €15,694 | +€15,694 | |
| Stocks | 30/36 | €0 | €15,694 | +€15,694 | |
| Amounts receivable within one year | 40/41 | €245,845 | €228,793 | -€17,052 | -6.9% |
| Trade receivables | 40 | €70,693 | €73,575 | +€2,881 | +4.1% |
| Other amounts receivable | 41 | €175,151 | €155,218 | -€19,933 | -11.4% |
| Cash at bank and in hand | 54/58 | €240,552 | €183,764 | -€56,788 | -23.6% |
| Deferred charges and accrued income | 490/1 | €5,994 | €5,279 | -€715 | -11.9% |
| Total equity and liabilities | 10/49 | €1,811,742 | €1,663,530 | -€148,212 | -8.2% |
| Equity | 10/15 | €676,299 | €679,022 | +€2,723 | +0.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €626,299 | €629,022 | +€2,723 | +0.4% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,578 | €58,393 | +€1,815 | +3.2% |
| Distributable reserves | 133 | €564,721 | €565,629 | +€907 | +0.2% |
| Provisions and deferred taxes | 16 | €18,859 | €19,464 | +€605 | +3.2% |
| Deferred taxes | 168 | €18,859 | €19,464 | +€605 | +3.2% |
| Amounts payable | 17/49 | €1,116,583 | €965,043 | -€151,540 | -13.6% |
| Amounts payable after more than one year | 17 | €451,552 | €389,593 | -€61,959 | -13.7% |
| Financial debts | 170/4 | €451,552 | €389,593 | -€61,959 | -13.7% |
| Amounts payable within one year | 42/48 | €665,031 | €575,451 | -€89,580 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €65,341 | €63,458 | -€1,884 | -2.9% |
| Trade debts | 44 | €87,022 | €23,707 | -€63,315 | -72.8% |
| Suppliers | 440/4 | €87,022 | €23,707 | -€63,315 | -72.8% |
| Taxes, remuneration and social security | 45 | €5,063 | €5,538 | +€475 | +9.4% |
| Taxes | 450/3 | €381 | €111 | -€270 | -70.8% |
| Remuneration and social security | 454/9 | €4,681 | €5,426 | +€745 | +15.9% |
| Other amounts payable | 47/48 | €507,605 | €482,749 | -€24,856 | -4.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €82,438 | €3,691 | -€78,746 | -95.5% |
| Remuneration, social security and pensions | 62 | €63,363 | €61,059 | -€2,304 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,123 | €104,148 | +€5,025 | +5.1% |
| Other operating charges | 640/8 | €8,623 | €7,448 | -€1,175 | -13.6% |
| Gross operating margin | 9900 | €244,623 | €167,907 | -€76,716 | -31.4% |
| Operating profit (loss) | 9901 | €73,515 | -€4,747 | -€78,262 | |
| Financial income | 75/76B | €5,155 | €18,362 | +€13,207 | +256% |
| Recurring financial income | 75 | €5,155 | €18,362 | +€13,207 | +256% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €7,600 | €9,495 | +€1,895 | +24.9% |
| Recurring financial charges | 65 | €7,600 | €9,495 | +€1,895 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €71,070 | €4,120 | -€66,950 | -94.2% |
| Transfer from deferred taxes | 780 | €1,750 | €687 | -€1,063 | -60.7% |
| Transfer to deferred taxes | 680 | €20,609 | €0 | -€20,609 | -100% |
| Income taxes | 67/77 | €250 | €792 | +€543 | +217% |
| Profit (loss) for the period | 9904 | €51,960 | €4,015 | -€47,946 | -92.3% |
| Transfer from tax-exempt reserves | 789 | €5,250 | €2,061 | -€3,189 | -60.7% |
| Transfer to tax-exempt reserves | 689 | €61,828 | €0 | -€61,828 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,618 | €6,075 | +€10,693 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.