Merlot Management: what changed
Merlot Management
Largest movements
- Cash -€21,665
down €21,665 (-81.5%), from €26,576 to €4,911
mainly Net result for the year (-€23,175) and Tax, wage and social debts (-€7,716)
- Deferred charges and accrued income -€10,445
down €10,445 (-100.0%), from €10,446 to €2
- Receivables within one year +€599
up €599 (+8.0%), from €7,518 to €8,116
of which Trade receivables: +€362
- Reserves -€18,936
down €18,936 (-100%), from €18,936 to €0
- Tax, wage and social debts -€7,716
down €7,716 (-100%), from €7,716 to €0
- Profit (loss) carried forward -€4,239
new in 2025: -€4,239
- Trade debts -€1,059
down €1,059 (-8.7%), from €12,143 to €11,085
- Gross operating margin -€47,115
down €47,115, from €24,085 to -€23,030
- Taxes -€5,148
down €5,148 (-100%), from €5,148 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,540 | €13,028 | -€31,511 | -70.7% |
| Current assets | 29/58 | €44,540 | €13,028 | -€31,511 | -70.7% |
| Amounts receivable within one year | 40/41 | €7,518 | €8,116 | +€599 | +8.0% |
| Trade receivables | 40 | €7,518 | €7,879 | +€362 | +4.8% |
| Other amounts receivable | 41 | - | €237 | +€237 | |
| Cash at bank and in hand | 54/58 | €26,576 | €4,911 | -€21,665 | -81.5% |
| Deferred charges and accrued income | 490/1 | €10,446 | €2 | -€10,445 | -100.0% |
| Total equity and liabilities | 10/49 | €44,540 | €13,028 | -€31,511 | -70.7% |
| Equity | 10/15 | €21,936 | -€1,239 | -€23,175 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,936 | €0 | -€18,936 | -100% |
| Distributable reserves | 133 | €18,936 | €0 | -€18,936 | -100% |
| Profit (loss) carried forward | 14 | - | -€4,239 | -€4,239 | |
| Amounts payable | 17/49 | €22,604 | €14,268 | -€8,336 | -36.9% |
| Amounts payable within one year | 42/48 | €22,604 | €14,268 | -€8,336 | -36.9% |
| Trade debts | 44 | €12,143 | €11,085 | -€1,059 | -8.7% |
| Suppliers | 440/4 | €12,143 | €11,085 | -€1,059 | -8.7% |
| Taxes, remuneration and social security | 45 | €7,716 | €0 | -€7,716 | -100% |
| Taxes | 450/3 | €7,716 | €0 | -€7,716 | -100% |
| Other amounts payable | 47/48 | €2,744 | €3,183 | +€439 | +16.0% |
| Gross operating margin | 9900 | €24,085 | -€23,030 | -€47,115 | |
| Operating profit (loss) | 9901 | €24,085 | -€23,030 | -€47,115 | |
| Financial charges | 65/66B | €1 | €145 | +€144 | +16,925% |
| Recurring financial charges | 65 | €1 | €145 | +€144 | +16,925% |
| Profit (loss) for the period before taxes | 9903 | €24,084 | -€23,175 | -€47,259 | |
| Income taxes | 67/77 | €5,148 | €0 | -€5,148 | -100% |
| Profit (loss) for the period | 9904 | €18,936 | -€23,175 | -€42,111 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,936 | -€23,175 | -€42,111 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.