MERLIN CONSEILS: 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.
MERLIN CONSEILS
Largest movements
- Receivables within one year +€9,557
up €9,557 (+4.0%), from €237,444 to €247,001
of which Other amounts receivable: +€10,013
- Tangible fixed assets +€4,743
up €4,743 (+161%), from €2,937 to €7,680
- Profit (loss) carried forward +€38,431
up €38,431 (+28.3%), from €135,978 to €174,409
- Other debts -€33,125
no longer reported in 2024 (was €33,125)
- Tax, wage and social debts +€21,605
up €21,605 (+211%), from €10,223 to €31,829
of which Taxes: +€13,513
- Trade debts -€16,052
down €16,052 (-58.6%), from €27,376 to €11,324
of which Suppliers: -€13,648
- Current portion of long-term debt +€4,398
new in 2024: €4,398
- Financial charges -€47,051
down €47,051 (-87.7%), from €53,654 to €6,603
- Write-downs +€33,539
no longer reported in 2024 (was -€33,539)
- Gross operating margin +€22,473
up €22,473 (+18.1%), from €124,022 to €146,495
- Staff costs +€13,741
up €13,741 (+20.8%), from €65,963 to €79,704
- Taxes +€7,876
up €7,876 (+105%), from €7,500 to €15,376
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €252,762 | €268,019 | +€15,257 | +6.0% |
| Fixed assets | 21/28 | €3,188 | €7,680 | +€4,492 | +141% |
| Intangible fixed assets | 21 | €251 | - | -€251 | |
| Tangible fixed assets | 22/27 | €2,937 | €7,680 | +€4,743 | +161% |
| Furniture and vehicles | 24 | €2,937 | €7,680 | +€4,743 | +161% |
| Current assets | 29/58 | €249,574 | €260,339 | +€10,765 | +4.3% |
| Amounts receivable within one year | 40/41 | €237,444 | €247,001 | +€9,557 | +4.0% |
| Trade receivables | 40 | €218,728 | €218,273 | -€455 | -0.2% |
| Other amounts receivable | 41 | €18,716 | €28,729 | +€10,013 | +53.5% |
| Cash at bank and in hand | 54/58 | €12,130 | €12,668 | +€538 | +4.4% |
| Deferred charges and accrued income | 490/1 | - | €669 | +€669 | |
| Total equity and liabilities | 10/49 | €252,762 | €268,019 | +€15,257 | +6.0% |
| Equity | 10/15 | €144,038 | €182,469 | +€38,431 | +26.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,978 | €174,409 | +€38,431 | +28.3% |
| Amounts payable | 17/49 | €108,724 | €85,550 | -€23,174 | -21.3% |
| Amounts payable within one year | 42/48 | €108,724 | €85,550 | -€23,174 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,398 | +€4,398 | |
| Financial debts | 43 | €38,000 | €38,000 | = | 0.0% |
| Credit institutions | 430/8 | €38,000 | €38,000 | = | 0.0% |
| Trade debts | 44 | €27,376 | €11,324 | -€16,052 | -58.6% |
| Suppliers | 440/4 | €24,972 | €11,324 | -€13,648 | -54.7% |
| Bills of exchange payable | 441 | €2,404 | - | -€2,404 | |
| Taxes, remuneration and social security | 45 | €10,223 | €31,829 | +€21,605 | +211% |
| Taxes | 450/3 | €5,142 | €18,655 | +€13,513 | +263% |
| Remuneration and social security | 454/9 | €5,081 | €13,174 | +€8,093 | +159% |
| Other amounts payable | 47/48 | €33,125 | - | -€33,125 | |
| Remuneration, social security and pensions | 62 | €65,963 | €79,704 | +€13,741 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,704 | €2,082 | -€7,621 | -78.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€33,539 | - | +€33,539 | |
| Other operating charges | 640/8 | €1,413 | €4,302 | +€2,889 | +204% |
| Gross operating margin | 9900 | €124,022 | €146,495 | +€22,473 | +18.1% |
| Operating profit (loss) | 9901 | €80,480 | €60,406 | -€20,074 | -24.9% |
| Financial income | 75/76B | €41 | €0 | -€41 | -99.4% |
| Recurring financial income | 75 | €41 | €0 | -€41 | -99.4% |
| Financial charges | 65/66B | €53,654 | €6,603 | -€47,051 | -87.7% |
| Recurring financial charges | 65 | €53,654 | €6,603 | -€47,051 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | €26,868 | €53,804 | +€26,936 | +100% |
| Income taxes | 67/77 | €7,500 | €15,376 | +€7,876 | +105% |
| Profit (loss) for the period | 9904 | €19,368 | €38,427 | +€19,059 | +98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,368 | €38,427 | +€19,059 | +98.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.