MERMUYS: 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.
MERMUYS
Largest movements
- Tangible fixed assets +€28,259
up €28,259 (+9.4%), from €300,578 to €328,837
of which Furniture and vehicles: +€37,233
- Debts after one year +€35,714
up €35,714 (+26.4%), from €135,298 to €171,012
- Short-term financial debts +€11,057
up €11,057 (+61.4%), from €18,000 to €29,057
- Profit (loss) carried forward -€9,632
down €9,632 (-38.0%), from €25,361 to €15,729
- Tax, wage and social debts -€5,280
no longer reported in 2025 (was €5,280)
- Financial income -€105,413
down €105,413 (-97.6%), from €107,965 to €2,552
of which Non-recurring financial income: -€105,700
- Staff costs -€18,557
no longer reported in 2025 (was €18,557)
- Gross operating margin +€16,043
up €16,043 (+87.8%), from €18,272 to €34,316
- Financial charges -€8,507
down €8,507 (-49.2%), from €17,279 to €8,773
- Depreciation +€7,955
up €7,955 (+35.9%), from €22,132 to €30,088
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 | €356,232 | €387,084 | +€30,852 | +8.7% |
| Fixed assets | 21/28 | €303,363 | €331,622 | +€28,259 | +9.3% |
| Tangible fixed assets | 22/27 | €300,578 | €328,837 | +€28,259 | +9.4% |
| Land and buildings | 22 | €280,716 | €264,971 | -€15,745 | -5.6% |
| Plant, machinery and equipment | 23 | €19,862 | €26,633 | +€6,772 | +34.1% |
| Furniture and vehicles | 24 | - | €37,233 | +€37,233 | |
| Financial fixed assets | 28 | €2,785 | €2,785 | = | 0.0% |
| Current assets | 29/58 | €52,870 | €55,462 | +€2,593 | +4.9% |
| Stocks and contracts in progress | 3 | - | €712 | +€712 | |
| Contracts in progress | 37 | - | €712 | +€712 | |
| Amounts receivable within one year | 40/41 | €43,533 | €42,856 | -€676 | -1.6% |
| Trade receivables | 40 | €17,968 | €20,815 | +€2,846 | +15.8% |
| Other amounts receivable | 41 | €25,564 | €22,042 | -€3,523 | -13.8% |
| Cash at bank and in hand | 54/58 | €9,337 | €11,894 | +€2,557 | +27.4% |
| Total equity and liabilities | 10/49 | €356,232 | €387,084 | +€30,852 | +8.7% |
| Equity | 10/15 | €155,130 | €145,497 | -€9,632 | -6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,569 | €123,569 | = | 0.0% |
| Distributable reserves | 133 | €123,569 | €123,569 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,361 | €15,729 | -€9,632 | -38.0% |
| Amounts payable | 17/49 | €201,103 | €241,587 | +€40,484 | +20.1% |
| Amounts payable after more than one year | 17 | €135,298 | €171,012 | +€35,714 | +26.4% |
| Financial debts | 170/4 | €135,298 | €171,012 | +€35,714 | +26.4% |
| Amounts payable within one year | 42/48 | €65,805 | €70,575 | +€4,770 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €30,830 | €33,006 | +€2,176 | +7.1% |
| Financial debts | 43 | €18,000 | €29,057 | +€11,057 | +61.4% |
| Credit institutions | 430/8 | €18,000 | €29,057 | +€11,057 | +61.4% |
| Trade debts | 44 | €11,695 | €8,512 | -€3,182 | -27.2% |
| Suppliers | 440/4 | €11,695 | €8,512 | -€3,182 | -27.2% |
| Taxes, remuneration and social security | 45 | €5,280 | - | -€5,280 | |
| Taxes | 450/3 | €5,280 | - | -€5,280 | |
| Remuneration, social security and pensions | 62 | €18,557 | - | -€18,557 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,132 | €30,088 | +€7,955 | +35.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,703 | - | -€1,703 | |
| Other operating charges | 640/8 | €12,094 | €7,638 | -€4,456 | -36.8% |
| Gross operating margin | 9900 | €18,272 | €34,316 | +€16,043 | +87.8% |
| Operating profit (loss) | 9901 | -€36,214 | -€3,410 | +€32,804 | +90.6% |
| Financial income | 75/76B | €107,965 | €2,552 | -€105,413 | -97.6% |
| Recurring financial income | 75 | €2,265 | €2,552 | +€287 | +12.7% |
| Non-recurring financial income | 76B | €105,700 | - | -€105,700 | |
| Financial charges | 65/66B | €17,279 | €8,773 | -€8,507 | -49.2% |
| Recurring financial charges | 65 | €17,279 | €8,773 | -€8,507 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €54,471 | -€9,631 | -€64,102 | |
| Income taxes | 67/77 | €4,954 | €2 | -€4,952 | -100.0% |
| Profit (loss) for the period | 9904 | €49,517 | -€9,632 | -€59,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,517 | -€9,632 | -€59,150 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.