MERMANS HELENA: 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.
MERMANS HELENA
Largest movements
- Current investments +€117,913
up €117,913 (+67.4%), from €175,000 to €292,913
- Receivables after one year +€79,000
new in 2025: €79,000
- Receivables within one year -€78,353
down €78,353 (-97.4%), from €80,463 to €2,110
of which Other amounts receivable: -€80,463
- Cash -€28,641
down €28,641 (-91.3%), from €31,373 to €2,732
mainly Current investments (-€117,913) and Receivables after one year (-€79,000)
- Tangible fixed assets -€5,904
down €5,904 (-24.3%), from €24,261 to €18,357
of which Furniture and vehicles: -€5,736
- Reserves +€58,190
up €58,190 (+20.1%), from €289,698 to €347,888
of which Distributable reserves: +€58,190
- Other debts +€35,037
new in 2025: €35,037
- Profit (loss) carried forward -€9,998
down €9,998 (-27.9%), from €35,887 to €25,889
- Gross operating margin -€9,208
down €9,208 (-7.6%), from €120,628 to €111,420
- Financial income +€8,023
up €8,023 (+339%), from €2,367 to €10,390
- Taxes -€2,286
down €2,286 (-7.0%), from €32,503 to €30,217
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €370,756 | €454,771 | +€84,015 | +22.7% |
| Fixed assets | 21/28 | €83,920 | €78,016 | -€5,904 | -7.0% |
| Tangible fixed assets | 22/27 | €24,261 | €18,357 | -€5,904 | -24.3% |
| Land and buildings | 22 | €263 | €131 | -€132 | -50.2% |
| Plant, machinery and equipment | 23 | €36 | - | -€36 | |
| Furniture and vehicles | 24 | €23,962 | €18,226 | -€5,736 | -23.9% |
| Financial fixed assets | 28 | €59,659 | €59,659 | = | 0.0% |
| Current assets | 29/58 | €286,836 | €376,755 | +€89,919 | +31.3% |
| Amounts receivable after more than one year | 29 | - | €79,000 | +€79,000 | |
| Other amounts receivable | 291 | - | €79,000 | +€79,000 | |
| Amounts receivable within one year | 40/41 | €80,463 | €2,110 | -€78,353 | -97.4% |
| Trade receivables | 40 | - | €2,110 | +€2,110 | |
| Other amounts receivable | 41 | €80,463 | - | -€80,463 | |
| Current investments | 50/53 | €175,000 | €292,913 | +€117,913 | +67.4% |
| Cash at bank and in hand | 54/58 | €31,373 | €2,732 | -€28,641 | -91.3% |
| Total equity and liabilities | 10/49 | €370,756 | €454,771 | +€84,015 | +22.7% |
| Equity | 10/15 | €344,185 | €392,377 | +€48,192 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289,698 | €347,888 | +€58,190 | +20.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €287,838 | €346,028 | +€58,190 | +20.2% |
| Profit (loss) carried forward | 14 | €35,887 | €25,889 | -€9,998 | -27.9% |
| Amounts payable | 17/49 | €26,571 | €62,394 | +€35,823 | +135% |
| Amounts payable within one year | 42/48 | €26,571 | €62,394 | +€35,823 | +135% |
| Current portion of amounts payable after more than one year | 42 | €5,762 | €6,807 | +€1,045 | +18.1% |
| Trade debts | 44 | €2,837 | €1,784 | -€1,053 | -37.1% |
| Suppliers | 440/4 | €2,837 | €1,784 | -€1,053 | -37.1% |
| Taxes, remuneration and social security | 45 | €17,972 | €18,766 | +€794 | +4.4% |
| Taxes | 450/3 | €17,972 | €18,766 | +€794 | +4.4% |
| Other amounts payable | 47/48 | - | €35,037 | +€35,037 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,103 | €6,654 | -€449 | -6.3% |
| Other operating charges | 640/8 | €765 | €1,126 | +€361 | +47.2% |
| Gross operating margin | 9900 | €120,628 | €111,420 | -€9,208 | -7.6% |
| Operating profit (loss) | 9901 | €112,760 | €103,640 | -€9,120 | -8.1% |
| Financial income | 75/76B | €2,367 | €10,390 | +€8,023 | +339% |
| Recurring financial income | 75 | €2,367 | €10,390 | +€8,023 | +339% |
| Financial charges | 65/66B | €906 | €621 | -€285 | -31.5% |
| Recurring financial charges | 65 | €906 | €621 | -€285 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €114,221 | €113,409 | -€812 | -0.7% |
| Income taxes | 67/77 | €32,503 | €30,217 | -€2,286 | -7.0% |
| Profit (loss) for the period | 9904 | €81,718 | €83,192 | +€1,474 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €81,718 | €83,192 | +€1,474 | +1.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.