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 +€33,566
new in 2024: €33,566
- Tangible fixed assets -€32,027
down €32,027 (-12.7%), from €251,493 to €219,466
- Cash -€31,020
no longer reported in 2024 (was €31,020)
mainly Deferred charges and accrued income (-€33,566) and Trade debts (-€20,551)
- Receivables within one year -€24,820
down €24,820 (-87.7%), from €28,290 to €3,470
of which Trade receivables: -€28,290
- Trade debts -€20,551
no longer reported in 2024 (was €20,551)
- Other debts -€15,952
down €15,952 (-5.9%), from €271,576 to €255,624
- Profit (loss) carried forward -€15,767
down €15,767, from €6,265 to -€9,502
- Tax, wage and social debts -€11,913
down €11,913 (-31.7%), from €37,558 to €25,644
- Accrued charges and deferred income +€11,871
up €11,871 (+741.9%), from €1,600 to €13,471
- Gross operating margin -€26,699
down €26,699 (-53.5%), from €49,918 to €23,220
- Taxes -€2,769
no longer reported in 2024 (was €2,769)
- Financial income +€2,603
up €2,603 (+185.6%), from €1,403 to €4,006
- Financial charges +€2,504
up €2,504 (+43.1%), from €5,806 to €8,309
- Staff costs -€2,335
down €2,335 (-92.4%), from €2,526 to €191
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €585,533 | €531,234 | -€54,300 | -9.3% |
| Fixed assets | 21/28 | €251,493 | €219,466 | -€32,027 | -12.7% |
| Tangible fixed assets | 22/27 | €251,493 | €219,466 | -€32,027 | -12.7% |
| Land and buildings | 22 | €251,493 | €219,466 | -€32,027 | -12.7% |
| Current assets | 29/58 | €334,041 | €311,767 | -€22,273 | -6.7% |
| Stocks and contracts in progress | 3 | €274,731 | €274,731 | = | 0.0% |
| Stocks | 30/36 | €274,731 | €274,731 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,290 | €3,470 | -€24,820 | -87.7% |
| Trade receivables | 40 | €28,290 | - | -€28,290 | |
| Other amounts receivable | 41 | - | €3,470 | +€3,470 | |
| Current investments | 50/53 | - | €0 | +€0 | |
| Cash at bank and in hand | 54/58 | €31,020 | - | -€31,020 | |
| Deferred charges and accrued income | 490/1 | - | €33,566 | +€33,566 | |
| Total equity and liabilities | 10/49 | €585,533 | €531,234 | -€54,300 | -9.3% |
| Equity | 10/15 | €167,182 | €151,415 | -€15,767 | -9.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €140,466 | €140,466 | = | 0.0% |
| Distributable reserves | 133 | €140,466 | €140,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,265 | -€9,502 | -€15,767 | |
| Amounts payable | 17/49 | €418,351 | €379,818 | -€38,533 | -9.2% |
| Amounts payable after more than one year | 17 | €5,080 | €3,067 | -€2,012 | -39.6% |
| Financial debts | 170/4 | €5,080 | €3,067 | -€2,012 | -39.6% |
| Amounts payable within one year | 42/48 | €411,672 | €363,280 | -€48,391 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €1,987 | €2,012 | +€26 | +1.3% |
| Financial debts | 43 | €80,000 | €80,000 | = | 0.0% |
| Other loans | 439 | €80,000 | €80,000 | = | 0.0% |
| Trade debts | 44 | €20,551 | - | -€20,551 | |
| Suppliers | 440/4 | €20,551 | - | -€20,551 | |
| Taxes, remuneration and social security | 45 | €37,558 | €25,644 | -€11,913 | -31.7% |
| Taxes | 450/3 | €37,558 | €25,644 | -€11,913 | -31.7% |
| Other amounts payable | 47/48 | €271,576 | €255,624 | -€15,952 | -5.9% |
| Accrued charges and deferred income | 492/3 | €1,600 | €13,471 | +€11,871 | +741.9% |
| Remuneration, social security and pensions | 62 | €2,526 | €191 | -€2,335 | -92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,063 | €32,027 | -€36 | -0.1% |
| Other operating charges | 640/8 | €2,515 | €2,465 | -€50 | -2.0% |
| Gross operating margin | 9900 | €49,918 | €23,220 | -€26,699 | -53.5% |
| Operating profit (loss) | 9901 | €12,814 | -€11,463 | -€24,277 | |
| Financial income | 75/76B | €1,403 | €4,006 | +€2,603 | +185.6% |
| Recurring financial income | 75 | €1,403 | €4,006 | +€2,603 | +185.6% |
| Financial charges | 65/66B | €5,806 | €8,309 | +€2,504 | +43.1% |
| Recurring financial charges | 65 | €5,806 | €8,309 | +€2,504 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | €8,411 | -€15,767 | -€24,178 | |
| Income taxes | 67/77 | €2,769 | - | -€2,769 | |
| Profit (loss) for the period | 9904 | €5,642 | -€15,767 | -€21,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,642 | -€15,767 | -€21,409 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.