MERTENS: 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.
MERTENS
Largest movements
- Deferred charges and accrued income +€23,636
up €23,636 (+147%), from €16,038 to €39,674
- Cash +€16,151
up €16,151 (+300%), from €5,376 to €21,527
mainly Depreciation (+€18,304) and Receivables within one year (+€14,138)
- Receivables within one year -€14,138
down €14,138 (-37.0%), from €38,181 to €24,043
of which Trade receivables: -€26,827
- Tangible fixed assets -€13,518
down €13,518 (-20.5%), from €66,042 to €52,524
of which Furniture and vehicles: -€10,522
- Tax, wage and social debts +€8,427
up €8,427 (+36.9%), from €22,851 to €31,278
of which Remuneration and social security: +€13,570
- Trade debts +€8,314
up €8,314 (+38.0%), from €21,866 to €30,180
- Other debts -€7,242
down €7,242 (-72.6%), from €9,979 to €2,738
- Reserves +€6,994
up €6,994 (+18.2%), from €38,425 to €45,419
of which Distributable reserves: +€6,994
- Short-term financial debts -€4,362
down €4,362 (-46.6%), from €9,362 to €5,000
- Depreciation +€10,143
up €10,143 (+124%), from €8,161 to €18,304
- Gross operating margin +€7,446
up €7,446 (+5.9%), from €125,552 to €132,998
- Financial charges +€3,258
up €3,258 (+255%), from €1,279 to €4,538
- Staff costs +€1,679
up €1,679 (+2.3%), from €72,495 to €74,174
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 | €132,515 | €144,647 | +€12,131 | +9.2% |
| Fixed assets | 21/28 | €66,380 | €52,862 | -€13,518 | -20.4% |
| Tangible fixed assets | 22/27 | €66,042 | €52,524 | -€13,518 | -20.5% |
| Land and buildings | 22 | €32,960 | €29,964 | -€2,996 | -9.1% |
| Furniture and vehicles | 24 | €33,083 | €22,561 | -€10,522 | -31.8% |
| Financial fixed assets | 28 | €337 | €337 | = | 0.0% |
| Current assets | 29/58 | €66,135 | €91,785 | +€25,649 | +38.8% |
| Stocks and contracts in progress | 3 | €6,540 | €6,540 | = | 0.0% |
| Stocks | 30/36 | €6,540 | €6,540 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,181 | €24,043 | -€14,138 | -37.0% |
| Trade receivables | 40 | €37,034 | €10,206 | -€26,827 | -72.4% |
| Other amounts receivable | 41 | €1,147 | €13,837 | +€12,689 | +1,106% |
| Cash at bank and in hand | 54/58 | €5,376 | €21,527 | +€16,151 | +300% |
| Deferred charges and accrued income | 490/1 | €16,038 | €39,674 | +€23,636 | +147% |
| Total equity and liabilities | 10/49 | €132,515 | €144,647 | +€12,131 | +9.2% |
| Equity | 10/15 | €57,017 | €64,011 | +€6,994 | +12.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €38,425 | €45,419 | +€6,994 | +18.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €36,566 | €43,560 | +€6,994 | +19.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €75,498 | €80,635 | +€5,137 | +6.8% |
| Amounts payable within one year | 42/48 | €75,498 | €80,635 | +€5,137 | +6.8% |
| Financial debts | 43 | €9,362 | €5,000 | -€4,362 | -46.6% |
| Credit institutions | 430/8 | €9,362 | €5,000 | -€4,362 | -46.6% |
| Trade debts | 44 | €21,866 | €30,180 | +€8,314 | +38.0% |
| Suppliers | 440/4 | €21,866 | €30,180 | +€8,314 | +38.0% |
| Advances received on contracts in progress | 46 | €11,440 | €11,440 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €22,851 | €31,278 | +€8,427 | +36.9% |
| Taxes | 450/3 | €17,746 | €12,603 | -€5,142 | -29.0% |
| Remuneration and social security | 454/9 | €5,105 | €18,675 | +€13,570 | +266% |
| Other amounts payable | 47/48 | €9,979 | €2,738 | -€7,242 | -72.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €72,495 | €74,174 | +€1,679 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,161 | €18,304 | +€10,143 | +124% |
| Other operating charges | 640/8 | €15,025 | €15,588 | +€563 | +3.7% |
| Gross operating margin | 9900 | €125,552 | €132,998 | +€7,446 | +5.9% |
| Operating profit (loss) | 9901 | €29,871 | €24,932 | -€4,939 | -16.5% |
| Financial income | 75/76B | €386 | €327 | -€58 | -15.1% |
| Recurring financial income | 75 | €386 | €327 | -€58 | -15.1% |
| Financial charges | 65/66B | €1,279 | €4,538 | +€3,258 | +255% |
| Recurring financial charges | 65 | €1,279 | €4,538 | +€3,258 | +255% |
| Profit (loss) for the period before taxes | 9903 | €28,977 | €20,721 | -€8,256 | -28.5% |
| Income taxes | 67/77 | €13,922 | €13,727 | -€194 | -1.4% |
| Profit (loss) for the period | 9904 | €15,056 | €6,994 | -€8,061 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,056 | €6,994 | -€8,061 | -53.5% |
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 15 October 2026 via checked.be.