MERQUIVA: 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.
MERQUIVA
Largest movements
- Cash +€31,077
up €31,077 (+44.0%), from €70,603 to €101,680
mainly Provisions (+€40,464) and Net result for the year (+€4,012)
- Receivables within one year +€8,433
up €8,433 (+56.1%), from €15,038 to €23,471
of which Other amounts receivable: +€6,215
- Deferred charges and accrued income -€1,490
down €1,490 (-30.6%), from €4,868 to €3,378
- Provisions +€40,464
new in 2025: €40,464
- Other debts -€7,995
no longer reported in 2025 (was €7,995)
- Reserves +€4,012
up €4,012 (+6.7%), from €60,220 to €64,233
- Tax, wage and social debts +€1,963
up €1,963 (+10.5%), from €18,642 to €20,605
- Provisions +€40,464
new in 2025: €40,464
- Depreciation -€1,395
down €1,395 (-82.3%), from €1,695 to €300
- Gross operating margin -€856
down €856 (-1.4%), from €59,157 to €58,301
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 | €91,704 | €129,425 | +€37,720 | +41.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,196 | €896 | -€300 | -25.1% |
| Tangible fixed assets | 22/27 | €1,196 | €896 | -€300 | -25.1% |
| Plant, machinery and equipment | 23 | €1,196 | €896 | -€300 | -25.1% |
| Current assets | 29/58 | €90,508 | €128,529 | +€38,020 | +42.0% |
| Amounts receivable within one year | 40/41 | €15,038 | €23,471 | +€8,433 | +56.1% |
| Trade receivables | 40 | €15,025 | €17,243 | +€2,217 | +14.8% |
| Other amounts receivable | 41 | €13 | €6,228 | +€6,215 | +48,443% |
| Cash at bank and in hand | 54/58 | €70,603 | €101,680 | +€31,077 | +44.0% |
| Deferred charges and accrued income | 490/1 | €4,868 | €3,378 | -€1,490 | -30.6% |
| Total equity and liabilities | 10/49 | €91,704 | €129,425 | +€37,720 | +41.1% |
| Equity | 10/15 | €63,720 | €67,733 | +€4,012 | +6.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €60,220 | €64,233 | +€4,012 | +6.7% |
| Distributable reserves | 133 | €60,220 | €64,233 | +€4,012 | +6.7% |
| Provisions and deferred taxes | 16 | - | €40,464 | +€40,464 | |
| Provisions for liabilities and charges | 160/5 | - | €40,464 | +€40,464 | |
| Environmental obligations | 163 | - | €40,464 | +€40,464 | |
| Amounts payable | 17/49 | €27,984 | €21,228 | -€6,756 | -24.1% |
| Amounts payable within one year | 42/48 | €27,069 | €21,228 | -€5,840 | -21.6% |
| Trade debts | 44 | €431 | €623 | +€192 | +44.4% |
| Suppliers | 440/4 | €431 | €623 | +€192 | +44.4% |
| Taxes, remuneration and social security | 45 | €18,642 | €20,605 | +€1,963 | +10.5% |
| Taxes | 450/3 | €18,642 | €20,605 | +€1,963 | +10.5% |
| Other amounts payable | 47/48 | €7,995 | - | -€7,995 | |
| Accrued charges and deferred income | 492/3 | €915 | - | -€915 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,695 | €300 | -€1,395 | -82.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €40,464 | +€40,464 | |
| Other operating charges | 640/8 | €183 | €115 | -€68 | -37.2% |
| Gross operating margin | 9900 | €59,157 | €58,301 | -€856 | -1.4% |
| Operating profit (loss) | 9901 | €57,279 | €17,422 | -€39,856 | -69.6% |
| Financial income | 75/76B | €0 | €141 | +€141 | +56,468% |
| Recurring financial income | 75 | €0 | €141 | +€141 | +56,468% |
| Financial charges | 65/66B | €1,571 | €1,327 | -€244 | -15.5% |
| Recurring financial charges | 65 | €1,571 | €1,327 | -€244 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €55,708 | €16,237 | -€39,471 | -70.9% |
| Income taxes | 67/77 | €11,966 | €12,225 | +€259 | +2.2% |
| Profit (loss) for the period | 9904 | €43,742 | €4,012 | -€39,730 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,742 | €4,012 | -€39,730 | -90.8% |
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 25 October 2026 via checked.be.