MERRY BARTHELEMY: what changed
MERRY BARTHELEMY
Largest movements
- Intangible fixed assets -€23,500
down €23,500 (-80.0%), from €29,375 to €5,875
- Tangible fixed assets -€7,409
down €7,409 (-32.2%), from €23,042 to €15,633
- Cash +€7,213
up €7,213 (+14.5%), from €49,783 to €56,997
mainly Depreciation (+€32,847) and Other debts (+€16,448)
- Receivables within one year +€2,800
up €2,800 (+20.0%), from €14,028 to €16,828
of which Other amounts receivable: +€10,266
- Reserves -€16,500
down €16,500 (-48.9%), from €33,760 to €17,260
- Other debts +€16,448
up €16,448 (+277%), from €5,944 to €22,392
- Debts after one year -€15,124
down €15,124 (-48.2%), from €31,350 to €16,227
of which Financial debts: -€9,124
- Current portion of long-term debt -€3,315
down €3,315 (-26.6%), from €12,439 to €9,124
- Trade debts -€1,728
down €1,728 (-86.4%), from €1,999 to €271
- Gross operating margin +€2,401
up €2,401 (+7.0%), from €34,293 to €36,695
- Taxes +€646
up €646 (+44.4%), from €1,454 to €2,100
- Financial charges -€402
down €402 (-41.5%), from €969 to €568
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,893 | €96,371 | -€20,522 | -17.6% |
| Fixed assets | 21/28 | €52,417 | €21,508 | -€30,909 | -59.0% |
| Intangible fixed assets | 21 | €29,375 | €5,875 | -€23,500 | -80.0% |
| Tangible fixed assets | 22/27 | €23,042 | €15,633 | -€7,409 | -32.2% |
| Furniture and vehicles | 24 | €23,042 | €15,633 | -€7,409 | -32.2% |
| Current assets | 29/58 | €64,476 | €74,863 | +€10,387 | +16.1% |
| Amounts receivable within one year | 40/41 | €14,028 | €16,828 | +€2,800 | +20.0% |
| Trade receivables | 40 | €7,465 | - | -€7,465 | |
| Other amounts receivable | 41 | €6,563 | €16,828 | +€10,266 | +156% |
| Cash at bank and in hand | 54/58 | €49,783 | €56,997 | +€7,213 | +14.5% |
| Deferred charges and accrued income | 490/1 | €665 | €1,038 | +€373 | +56.2% |
| Total equity and liabilities | 10/49 | €116,893 | €96,371 | -€20,522 | -17.6% |
| Equity | 10/15 | €64,927 | €48,122 | -€16,804 | -25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,760 | €17,260 | -€16,500 | -48.9% |
| Distributable reserves | 133 | €33,760 | €17,260 | -€16,500 | -48.9% |
| Profit (loss) carried forward | 14 | €12,567 | €12,262 | -€304 | -2.4% |
| Amounts payable | 17/49 | €51,967 | €48,248 | -€3,718 | -7.2% |
| Amounts payable after more than one year | 17 | €31,350 | €16,227 | -€15,124 | -48.2% |
| Financial debts | 170/4 | €14,550 | €5,427 | -€9,124 | -62.7% |
| Other amounts payable | 178/9 | €16,800 | €10,800 | -€6,000 | -35.7% |
| Amounts payable within one year | 42/48 | €20,381 | €31,787 | +€11,406 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €12,439 | €9,124 | -€3,315 | -26.6% |
| Trade debts | 44 | €1,999 | €271 | -€1,728 | -86.4% |
| Suppliers | 440/4 | €1,999 | €271 | -€1,728 | -86.4% |
| Other amounts payable | 47/48 | €5,944 | €22,392 | +€16,448 | +277% |
| Accrued charges and deferred income | 492/3 | €235 | €235 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,921 | €32,847 | -€75 | -0.2% |
| Other operating charges | 640/8 | €846 | €813 | -€33 | -3.9% |
| Non-recurring operating charges | 66A | - | €671 | +€671 | |
| Gross operating margin | 9900 | €34,293 | €36,695 | +€2,401 | +7.0% |
| Operating profit (loss) | 9901 | €526 | €2,364 | +€1,838 | +349% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €969 | €568 | -€402 | -41.5% |
| Recurring financial charges | 65 | €969 | €568 | -€402 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€443 | €1,796 | +€2,240 | |
| Income taxes | 67/77 | €1,454 | €2,100 | +€646 | +44.4% |
| Profit (loss) for the period | 9904 | -€1,898 | -€304 | +€1,593 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,898 | -€304 | +€1,593 | +84.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.