MERODE: 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.
MERODE
Largest movements
- Receivables after one year -€15,849
down €15,849 (-52.8%), from €30,000 to €14,151
- Tangible fixed assets +€6,182
up €6,182 (+3.5%), from €174,922 to €181,104
- Cash -€4,147
down €4,147 (-72.5%), from €5,718 to €1,571
mainly Debts after one year (-€20,146) and Investment in fixed assets (net) (-€9,341)
- Debts after one year -€20,146
down €20,146 (-15.6%), from €129,412 to €109,266
of which Financial debts: -€23,929
- Reserves +€7,683
up €7,683 (+23.3%), from €33,010 to €40,693
of which Distributable reserves: +€9,543
- Gross operating margin -€10,568
down €10,568 (-31.7%), from €33,320 to €22,752
- Financial charges -€528
down €528 (-8.1%), from €6,548 to €6,020
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 | €211,790 | €197,534 | -€14,257 | -6.7% |
| Fixed assets | 21/28 | €174,922 | €181,104 | +€6,182 | +3.5% |
| Tangible fixed assets | 22/27 | €174,922 | €181,104 | +€6,182 | +3.5% |
| Land and buildings | 22 | €174,922 | €181,104 | +€6,182 | +3.5% |
| Current assets | 29/58 | €36,868 | €16,430 | -€20,438 | -55.4% |
| Amounts receivable after more than one year | 29 | €30,000 | €14,151 | -€15,849 | -52.8% |
| Other amounts receivable | 291 | €30,000 | €14,151 | -€15,849 | -52.8% |
| Amounts receivable within one year | 40/41 | €321 | €0 | -€321 | -100.0% |
| Other amounts receivable | 41 | €321 | €0 | -€321 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,718 | €1,571 | -€4,147 | -72.5% |
| Deferred charges and accrued income | 490/1 | €829 | €708 | -€121 | -14.6% |
| Total equity and liabilities | 10/49 | €211,790 | €197,534 | -€14,257 | -6.7% |
| Equity | 10/15 | €51,610 | €59,293 | +€7,683 | +14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €33,010 | €40,693 | +€7,683 | +23.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €31,150 | €40,693 | +€9,543 | +30.6% |
| Amounts payable | 17/49 | €160,180 | €138,240 | -€21,940 | -13.7% |
| Amounts payable after more than one year | 17 | €129,412 | €109,266 | -€20,146 | -15.6% |
| Financial debts | 170/4 | €89,845 | €65,916 | -€23,929 | -26.6% |
| Other amounts payable | 178/9 | €39,567 | €43,349 | +€3,783 | +9.6% |
| Amounts payable within one year | 42/48 | €30,769 | €28,975 | -€1,794 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €25,557 | €23,929 | -€1,629 | -6.4% |
| Trade debts | 44 | €1,059 | €1,112 | +€53 | +5.0% |
| Suppliers | 440/4 | €1,059 | €1,112 | +€53 | +5.0% |
| Taxes, remuneration and social security | 45 | €4,152 | €3,934 | -€218 | -5.3% |
| Taxes | 450/3 | €4,152 | €3,934 | -€218 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,985 | €3,159 | +€174 | +5.8% |
| Other operating charges | 640/8 | €2,568 | €2,673 | +€105 | +4.1% |
| Gross operating margin | 9900 | €33,320 | €22,752 | -€10,568 | -31.7% |
| Operating profit (loss) | 9901 | €27,767 | €16,920 | -€10,847 | -39.1% |
| Financial income | 75/76B | €829 | €717 | -€112 | -13.5% |
| Recurring financial income | 75 | €829 | €717 | -€112 | -13.5% |
| Financial charges | 65/66B | €6,548 | €6,020 | -€528 | -8.1% |
| Recurring financial charges | 65 | €6,548 | €6,020 | -€528 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €22,048 | €11,617 | -€10,431 | -47.3% |
| Income taxes | 67/77 | €4,152 | €3,934 | -€218 | -5.3% |
| Profit (loss) for the period | 9904 | €17,896 | €7,683 | -€10,213 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,896 | €7,683 | -€10,213 | -57.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.