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
- Cash +€61,061
up €61,061 (+75.6%), from €80,802 to €141,863
mainly Receivables within one year (+€49,405) and Net result for the year (+€8,297)
- Receivables within one year -€49,405
down €49,405 (-64.6%), from €76,482 to €27,077
of which Trade receivables: -€25,259
- Deferred charges and accrued income -€4,574
no longer reported in 2025 (was €4,574)
- Reserves +€8,297
up €8,297 (+10.3%), from €80,367 to €88,665
of which Distributable reserves: +€8,297
- Trade debts -€5,137
down €5,137 (-89.0%), from €5,772 to €634
- Other debts +€4,450
new in 2025: €4,450
- Taxes -€571
down €571 (-18.5%), from €3,093 to €2,522
- Gross operating margin +€536
up €536 (+4.9%), from €10,880 to €11,416
- Financial income -€259
down €259 (-24.8%), from €1,043 to €784
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 | €161,858 | €168,940 | +€7,082 | +4.4% |
| Current assets | 29/58 | €161,858 | €168,940 | +€7,082 | +4.4% |
| Amounts receivable within one year | 40/41 | €76,482 | €27,077 | -€49,405 | -64.6% |
| Trade receivables | 40 | €50,271 | €25,012 | -€25,259 | -50.2% |
| Other amounts receivable | 41 | €26,211 | €2,065 | -€24,146 | -92.1% |
| Cash at bank and in hand | 54/58 | €80,802 | €141,863 | +€61,061 | +75.6% |
| Deferred charges and accrued income | 490/1 | €4,574 | - | -€4,574 | |
| Total equity and liabilities | 10/49 | €161,858 | €168,940 | +€7,082 | +4.4% |
| Equity | 10/15 | €153,009 | €161,306 | +€8,297 | +5.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €80,367 | €88,665 | +€8,297 | +10.3% |
| Non-distributable reserves | 130/1 | €11,900 | €11,900 | = | 0.0% |
| Legal reserve | 130 | €11,900 | €11,900 | = | 0.0% |
| Distributable reserves | 133 | €68,467 | €76,765 | +€8,297 | +12.1% |
| Profit (loss) carried forward | 14 | €10,641 | €10,641 | = | 0.0% |
| Amounts payable | 17/49 | €8,849 | €7,633 | -€1,216 | -13.7% |
| Amounts payable within one year | 42/48 | €8,849 | €7,633 | -€1,216 | -13.7% |
| Trade debts | 44 | €5,772 | €634 | -€5,137 | -89.0% |
| Suppliers | 440/4 | €5,772 | €634 | -€5,137 | -89.0% |
| Taxes, remuneration and social security | 45 | €3,078 | €2,550 | -€528 | -17.2% |
| Taxes | 450/3 | €3,078 | €2,550 | -€528 | -17.2% |
| Other amounts payable | 47/48 | - | €4,450 | +€4,450 | |
| Non-recurring operating income | 76A | - | €7,240 | +€7,240 | |
| Other operating charges | 640/8 | €1,286 | €1,298 | +€12 | +0.9% |
| Non-recurring operating charges | 66A | €1,244 | - | -€1,244 | |
| Gross operating margin | 9900 | €10,880 | €11,416 | +€536 | +4.9% |
| Operating profit (loss) | 9901 | €8,350 | €10,118 | +€1,768 | +21.2% |
| Financial income | 75/76B | €1,043 | €784 | -€259 | -24.8% |
| Recurring financial income | 75 | €1,043 | €784 | -€259 | -24.8% |
| Financial charges | 65/66B | €186 | €82 | -€104 | -55.9% |
| Recurring financial charges | 65 | €186 | €82 | -€104 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €9,207 | €10,820 | +€1,612 | +17.5% |
| Income taxes | 67/77 | €3,093 | €2,522 | -€571 | -18.5% |
| Profit (loss) for the period | 9904 | €6,114 | €8,297 | +€2,183 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,114 | €8,297 | +€2,183 | +35.7% |
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 12 October 2026 via checked.be.