Merlink: what changed
Two fiscal 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.
Merlink
Largest movements
- Tangible fixed assets +€37,150
up €37,150 (+133.7%), from €27,793 to €64,942
of which Furniture and vehicles: +€33,155
- Cash +€5,397
up €5,397 (+10.8%), from €50,059 to €55,456
mainly Debts after one year (+€24,630) and Depreciation (+€12,854)
- Receivables within one year +€5,115
up €5,115 (+52.0%), from €9,843 to €14,958
- Debts after one year +€24,630
new in 2025: €24,630
- Trade debts +€9,143
up €9,143 (+166.4%), from €5,494 to €14,637
- Current portion of long-term debt +€7,135
new in 2025: €7,135
- Tax, wage and social debts +€6,024
up €6,024 (+498.0%), from €1,210 to €7,234
- Gross operating margin +€12,050
up €12,050 (+245.8%), from €4,903 to €16,952
- Depreciation +€7,481
up €7,481 (+139.3%), from €5,372 to €12,854
- Financial charges +€1,342
up €1,342 (+1196.1%), from €112 to €1,455
- Taxes +€263
up €263 (+68.1%), from €386 to €649
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.
Cash bridge derived
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 | €87,694 | €135,356 | +€47,662 | +54.4% |
| Fixed assets | 21/28 | €27,793 | €64,942 | +€37,150 | +133.7% |
| Tangible fixed assets | 22/27 | €27,793 | €64,942 | +€37,150 | +133.7% |
| Plant, machinery and equipment | 23 | €1,055 | €381 | -€675 | -63.9% |
| Furniture and vehicles | 24 | €5,353 | €38,508 | +€33,155 | +619.3% |
| Other tangible fixed assets | 26 | €21,384 | €26,053 | +€4,669 | +21.8% |
| Current assets | 29/58 | €59,902 | €70,414 | +€10,512 | +17.5% |
| Amounts receivable within one year | 40/41 | €9,843 | €14,958 | +€5,115 | +52.0% |
| Trade receivables | 40 | €9,843 | €14,958 | +€5,115 | +52.0% |
| Cash at bank and in hand | 54/58 | €50,059 | €55,456 | +€5,397 | +10.8% |
| Total equity and liabilities | 10/49 | €87,694 | €135,356 | +€47,662 | +54.4% |
| Equity | 10/15 | €80,991 | €81,720 | +€729 | +0.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €38,355 | €38,355 | = | 0.0% |
| Distributable reserves | 133 | €38,355 | €38,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,086 | €24,815 | +€729 | +3.0% |
| Amounts payable | 17/49 | €6,703 | €53,636 | +€46,933 | +700.1% |
| Amounts payable after more than one year | 17 | - | €24,630 | +€24,630 | |
| Financial debts | 170/4 | - | €24,630 | +€24,630 | |
| Amounts payable within one year | 42/48 | €6,703 | €29,006 | +€22,302 | +332.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,135 | +€7,135 | |
| Trade debts | 44 | €5,494 | €14,637 | +€9,143 | +166.4% |
| Suppliers | 440/4 | €5,494 | €14,637 | +€9,143 | +166.4% |
| Taxes, remuneration and social security | 45 | €1,210 | €7,234 | +€6,024 | +498.0% |
| Taxes | 450/3 | €1,210 | €7,234 | +€6,024 | +498.0% |
| Non-recurring operating income | 76A | - | €1,370 | +€1,370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,372 | €12,854 | +€7,481 | +139.3% |
| Other operating charges | 640/8 | €1,284 | €1,265 | -€19 | -1.5% |
| Gross operating margin | 9900 | €4,903 | €16,952 | +€12,050 | +245.8% |
| Operating profit (loss) | 9901 | -€1,754 | €2,834 | +€4,587 | |
| Financial charges | 65/66B | €112 | €1,455 | +€1,342 | +1196.1% |
| Recurring financial charges | 65 | €112 | €1,455 | +€1,342 | +1196.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,866 | €1,379 | +€3,245 | |
| Income taxes | 67/77 | €386 | €649 | +€263 | +68.1% |
| Profit (loss) for the period | 9904 | -€2,252 | €729 | +€2,982 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,252 | €729 | +€2,982 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.