MERMAT: 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.
MERMAT
Largest movements
- Cash +€25,285
up €25,285 (+61.7%), from €41,000 to €66,285
mainly Debts after one year (+€25,375) and Depreciation (+€22,124)
- Tangible fixed assets +€24,061
up €24,061 (+37.2%), from €64,644 to €88,705
of which Other tangible fixed assets: +€34,486
- Receivables within one year +€6,572
up €6,572 (+22.1%), from €29,758 to €36,330
of which Other amounts receivable: +€14,485
- Debts after one year +€25,375
up €25,375 (+98.1%), from €25,868 to €51,242
- Trade debts +€16,897
up €16,897 (+59.6%), from €28,344 to €45,241
- Current portion of long-term debt +€6,846
up €6,846 (+64.8%), from €10,573 to €17,420
- Advances received +€4,987
up €4,987 (+890.5%), from €560 to €5,547
- Profit (loss) carried forward +€2,689
up €2,689 (+8.4%), from -€32,030 to -€29,342
- Gross operating margin +€37,985
up €37,985 (+14.1%), from €270,223 to €308,208
- Staff costs +€22,323
up €22,323 (+9.6%), from €232,487 to €254,810
- Other operating charges -€7,517
down €7,517 (-36.4%), from €20,653 to €13,137
- Taxes +€6,847
up €6,847 (+4412.7%), from €155 to €7,002
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 | €167,663 | €223,263 | +€55,600 | +33.2% |
| Fixed assets | 21/28 | €73,265 | €97,326 | +€24,061 | +32.8% |
| Tangible fixed assets | 22/27 | €64,644 | €88,705 | +€24,061 | +37.2% |
| Plant, machinery and equipment | 23 | €16,622 | €15,200 | -€1,423 | -8.6% |
| Furniture and vehicles | 24 | €32,244 | €23,241 | -€9,003 | -27.9% |
| Other tangible fixed assets | 26 | €15,778 | €50,264 | +€34,486 | +218.6% |
| Financial fixed assets | 28 | €8,621 | €8,621 | = | 0.0% |
| Current assets | 29/58 | €94,399 | €125,938 | +€31,539 | +33.4% |
| Stocks and contracts in progress | 3 | €17,280 | €16,034 | -€1,246 | -7.2% |
| Stocks | 30/36 | €17,280 | €16,034 | -€1,246 | -7.2% |
| Amounts receivable within one year | 40/41 | €29,758 | €36,330 | +€6,572 | +22.1% |
| Trade receivables | 40 | €15,325 | €7,412 | -€7,913 | -51.6% |
| Other amounts receivable | 41 | €14,433 | €28,918 | +€14,485 | +100.4% |
| Cash at bank and in hand | 54/58 | €41,000 | €66,285 | +€25,285 | +61.7% |
| Deferred charges and accrued income | 490/1 | €6,361 | €7,288 | +€928 | +14.6% |
| Total equity and liabilities | 10/49 | €167,663 | €223,263 | +€55,600 | +33.2% |
| Equity | 10/15 | €45,060 | €47,749 | +€2,689 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,490 | €58,490 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €58,490 | €58,490 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,030 | -€29,342 | +€2,689 | +8.4% |
| Amounts payable | 17/49 | €122,604 | €175,515 | +€52,911 | +43.2% |
| Amounts payable after more than one year | 17 | €25,868 | €51,242 | +€25,375 | +98.1% |
| Financial debts | 170/4 | €25,868 | €51,242 | +€25,375 | +98.1% |
| Amounts payable within one year | 42/48 | €91,236 | €120,772 | +€29,536 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €10,573 | €17,420 | +€6,846 | +64.8% |
| Financial debts | 43 | €7,362 | €7,850 | +€488 | +6.6% |
| Credit institutions | 430/8 | €7,362 | €7,850 | +€488 | +6.6% |
| Trade debts | 44 | €28,344 | €45,241 | +€16,897 | +59.6% |
| Suppliers | 440/4 | €28,344 | €45,241 | +€16,897 | +59.6% |
| Advances received on contracts in progress | 46 | €560 | €5,547 | +€4,987 | +890.5% |
| Taxes, remuneration and social security | 45 | €44,397 | €44,714 | +€317 | +0.7% |
| Taxes | 450/3 | €15,154 | €13,189 | -€1,966 | -13.0% |
| Remuneration and social security | 454/9 | €29,243 | €31,526 | +€2,283 | +7.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,500 | €3,500 | -€2,000 | -36.4% |
| Non-recurring operating income | 76A | €0 | €20,335 | +€20,335 | |
| Remuneration, social security and pensions | 62 | €232,487 | €254,810 | +€22,323 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,875 | €22,124 | +€1,249 | +6.0% |
| Other operating charges | 640/8 | €20,653 | €13,137 | -€7,517 | -36.4% |
| Gross operating margin | 9900 | €270,223 | €308,208 | +€37,985 | +14.1% |
| Operating profit (loss) | 9901 | -€3,793 | €18,137 | +€21,930 | |
| Financial income | 75/76B | €460 | €117 | -€343 | -74.6% |
| Recurring financial income | 75 | €460 | €117 | -€343 | -74.6% |
| Financial charges | 65/66B | €7,166 | €8,563 | +€1,398 | +19.5% |
| Recurring financial charges | 65 | €7,166 | €8,563 | +€1,398 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,498 | €9,691 | +€20,189 | |
| Income taxes | 67/77 | €155 | €7,002 | +€6,847 | +4412.7% |
| Profit (loss) for the period | 9904 | -€10,654 | €2,689 | +€13,343 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,654 | €2,689 | +€13,343 |
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 6 October 2026 via checked.be.