MERLON: 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.
MERLON
Largest movements
- Cash -€3,512
down €3,512 (-2.5%), from €142,609 to €139,097
mainly Net result for the year (-€3,284) and Receivables within one year (-€1,461)
- Profit (loss) carried forward -€3,284
down €3,284 (-364.4%), from -€901 to -€4,185
- Gross operating margin +€251
up €251 (+7.9%), from -€3,172 to -€2,921
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 | €147,850 | €145,799 | -€2,051 | -1.4% |
| Current assets | 29/58 | €147,850 | €145,799 | -€2,051 | -1.4% |
| Amounts receivable within one year | 40/41 | €5,241 | €6,702 | +€1,461 | +27.9% |
| Trade receivables | 40 | €3,036 | €3,036 | = | 0.0% |
| Other amounts receivable | 41 | €2,206 | €3,666 | +€1,461 | +66.2% |
| Cash at bank and in hand | 54/58 | €142,609 | €139,097 | -€3,512 | -2.5% |
| Total equity and liabilities | 10/49 | €147,850 | €145,799 | -€2,051 | -1.4% |
| Equity | 10/15 | €147,850 | €144,566 | -€3,284 | -2.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €130,159 | €130,159 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €128,300 | €128,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€901 | -€4,185 | -€3,284 | -364.4% |
| Amounts payable | 17/49 | - | €1,232 | +€1,232 | |
| Amounts payable within one year | 42/48 | - | €1,232 | +€1,232 | |
| Trade debts | 44 | - | €1,232 | +€1,232 | |
| Suppliers | 440/4 | - | €1,232 | +€1,232 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,172 | -€2,921 | +€251 | +7.9% |
| Operating profit (loss) | 9901 | -€3,559 | -€3,320 | +€239 | +6.7% |
| Financial income | 75/76B | €99 | €97 | -€2 | -2.1% |
| Recurring financial income | 75 | €99 | €97 | -€2 | -2.1% |
| Financial charges | 65/66B | €59 | €60 | +€2 | +2.6% |
| Recurring financial charges | 65 | €59 | €60 | +€2 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,519 | -€3,284 | +€235 | +6.7% |
| Profit (loss) for the period | 9904 | -€3,519 | -€3,284 | +€235 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,519 | -€3,284 | +€235 | +6.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.