Merrick: 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.
Merrick
Largest movements
- Tangible fixed assets -€32,304
down €32,304 (-14.9%), from €217,339 to €185,035
of which Land and buildings: -€17,836
- Cash +€5,257
up €5,257 (+9.6%), from €54,802 to €60,059
mainly Depreciation (+€32,304) and Net result for the year (+€28,489)
- Receivables within one year +€3,647
up €3,647 (+24.9%), from €14,635 to €18,282
of which Other amounts receivable: +€1,987
- Other debts -€36,572
down €36,572 (-47.8%), from €76,549 to €39,977
- Profit (loss) carried forward +€26,823
up €26,823 (+69.8%), from -€38,412 to -€11,588
- Debts after one year -€15,355
down €15,355 (-13.1%), from €117,583 to €102,228
- Current portion of long-term debt -€3,576
down €3,576 (-17.8%), from €20,116 to €16,540
- Tax, wage and social debts +€3,411
up €3,411 (+763.2%), from €447 to €3,858
- Gross operating margin +€31,975
up €31,975 (+55.3%), from €57,769 to €89,744
- Taxes +€13,047
up €13,047 (+564.5%), from €2,311 to €15,358
- Depreciation +€6,087
up €6,087 (+23.2%), from €26,217 to €32,304
- Financial charges +€4,650
up €4,650 (+87.5%), from €5,315 to €9,965
- Financial income -€1,513
down €1,513 (-99.9%), from €1,514 to €1
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 | €291,849 | €269,347 | -€22,502 | -7.7% |
| Fixed assets | 21/28 | €217,339 | €185,035 | -€32,304 | -14.9% |
| Tangible fixed assets | 22/27 | €217,339 | €185,035 | -€32,304 | -14.9% |
| Land and buildings | 22 | €156,923 | €139,086 | -€17,836 | -11.4% |
| Plant, machinery and equipment | 23 | €3,110 | €2,022 | -€1,088 | -35.0% |
| Furniture and vehicles | 24 | €57,306 | €43,926 | -€13,380 | -23.3% |
| Current assets | 29/58 | €74,510 | €84,312 | +€9,802 | +13.2% |
| Stocks and contracts in progress | 3 | €3,972 | €3,972 | = | 0.0% |
| Stocks | 30/36 | €3,972 | €3,972 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,635 | €18,282 | +€3,647 | +24.9% |
| Trade receivables | 40 | €6,946 | €8,606 | +€1,660 | +23.9% |
| Other amounts receivable | 41 | €7,689 | €9,676 | +€1,987 | +25.8% |
| Cash at bank and in hand | 54/58 | €54,802 | €60,059 | +€5,257 | +9.6% |
| Deferred charges and accrued income | 490/1 | €1,101 | €1,999 | +€898 | +81.5% |
| Total equity and liabilities | 10/49 | €291,849 | €269,347 | -€22,502 | -7.7% |
| Equity | 10/15 | €73,869 | €100,692 | +€26,823 | +36.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €93,681 | €93,681 | = | 0.0% |
| Distributable reserves | 133 | €93,681 | €93,681 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,412 | -€11,588 | +€26,823 | +69.8% |
| Amounts payable | 17/49 | €217,980 | €168,654 | -€49,325 | -22.6% |
| Amounts payable after more than one year | 17 | €117,583 | €102,228 | -€15,355 | -13.1% |
| Financial debts | 170/4 | €117,583 | €102,228 | -€15,355 | -13.1% |
| Amounts payable within one year | 42/48 | €100,396 | €66,427 | -€33,970 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €20,116 | €16,540 | -€3,576 | -17.8% |
| Trade debts | 44 | €3,285 | €6,052 | +€2,767 | +84.2% |
| Suppliers | 440/4 | €3,285 | €6,052 | +€2,767 | +84.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €447 | €3,858 | +€3,411 | +763.2% |
| Taxes | 450/3 | €447 | €3,858 | +€3,411 | +763.2% |
| Other amounts payable | 47/48 | €76,549 | €39,977 | -€36,572 | -47.8% |
| Non-recurring operating income | 76A | €24,958 | €0 | -€24,958 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,217 | €32,304 | +€6,087 | +23.2% |
| Other operating charges | 640/8 | €5,003 | €3,628 | -€1,375 | -27.5% |
| Gross operating margin | 9900 | €57,769 | €89,744 | +€31,975 | +55.3% |
| Operating profit (loss) | 9901 | €26,549 | €53,811 | +€27,263 | +102.7% |
| Financial income | 75/76B | €1,514 | €1 | -€1,513 | -99.9% |
| Recurring financial income | 75 | €1,514 | €1 | -€1,513 | -99.9% |
| Financial charges | 65/66B | €5,315 | €9,965 | +€4,650 | +87.5% |
| Recurring financial charges | 65 | €5,315 | €9,965 | +€4,650 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €22,748 | €43,847 | +€21,099 | +92.8% |
| Income taxes | 67/77 | €2,311 | €15,358 | +€13,047 | +564.5% |
| Profit (loss) for the period | 9904 | €20,437 | €28,489 | +€8,052 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,437 | €28,489 | +€8,052 | +39.4% |
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 10 October 2026 via checked.be.