Mertens & Jacobs: 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 & Jacobs
Largest movements
- Tangible fixed assets -€28,406
down €28,406 (-6.5%), from €439,620 to €411,214
- Cash +€10,948
up €10,948 (+14.2%), from €76,908 to €87,856
mainly Depreciation (+€55,494) and Net result for the year (+€50,364)
- Receivables within one year +€7,378
up €7,378 (+4.5%), from €165,297 to €172,674
of which Other amounts receivable: +€8,876
- Debts after one year -€19,479
down €19,479 (-19.8%), from €98,156 to €78,677
- Reserves +€12,860
up €12,860 (+2.5%), from €520,860 to €533,720
- Gross operating margin -€20,826
down €20,826 (-10.3%), from €202,391 to €181,564
- Taxes -€5,867
down €5,867 (-21.7%), from €26,991 to €21,124
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 | €697,925 | €687,083 | -€10,842 | -1.6% |
| Fixed assets | 21/28 | €439,620 | €411,214 | -€28,406 | -6.5% |
| Tangible fixed assets | 22/27 | €439,620 | €411,214 | -€28,406 | -6.5% |
| Land and buildings | 22 | €377,498 | €365,065 | -€12,433 | -3.3% |
| Plant, machinery and equipment | 23 | €23,121 | €19,990 | -€3,131 | -13.5% |
| Furniture and vehicles | 24 | €39,001 | €26,159 | -€12,842 | -32.9% |
| Current assets | 29/58 | €258,305 | €275,869 | +€17,564 | +6.8% |
| Stocks and contracts in progress | 3 | €13,123 | €12,409 | -€714 | -5.4% |
| Stocks | 30/36 | €13,123 | €12,409 | -€714 | -5.4% |
| Amounts receivable within one year | 40/41 | €165,297 | €172,674 | +€7,378 | +4.5% |
| Trade receivables | 40 | €142,288 | €140,789 | -€1,498 | -1.1% |
| Other amounts receivable | 41 | €23,009 | €31,885 | +€8,876 | +38.6% |
| Cash at bank and in hand | 54/58 | €76,908 | €87,856 | +€10,948 | +14.2% |
| Deferred charges and accrued income | 490/1 | €2,977 | €2,929 | -€48 | -1.6% |
| Total equity and liabilities | 10/49 | €697,925 | €687,083 | -€10,842 | -1.6% |
| Equity | 10/15 | €539,615 | €552,478 | +€12,864 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €520,860 | €533,720 | +€12,860 | +2.5% |
| Distributable reserves | 133 | €520,860 | €533,720 | +€12,860 | +2.5% |
| Profit (loss) carried forward | 14 | €155 | €158 | +€4 | +2.4% |
| Amounts payable | 17/49 | €158,310 | €134,605 | -€23,706 | -15.0% |
| Amounts payable after more than one year | 17 | €98,156 | €78,677 | -€19,479 | -19.8% |
| Financial debts | 170/4 | €98,156 | €78,677 | -€19,479 | -19.8% |
| Amounts payable within one year | 42/48 | €60,154 | €55,928 | -€4,226 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €19,238 | €19,479 | +€242 | +1.3% |
| Trade debts | 44 | €7,056 | €6,351 | -€705 | -10.0% |
| Suppliers | 440/4 | €7,056 | €6,351 | -€705 | -10.0% |
| Taxes, remuneration and social security | 45 | €33,861 | €30,097 | -€3,763 | -11.1% |
| Taxes | 450/3 | €26,911 | €22,822 | -€4,089 | -15.2% |
| Remuneration and social security | 454/9 | €6,949 | €7,275 | +€326 | +4.7% |
| Non-recurring operating income | 76A | - | €13,796 | +€13,796 | |
| Remuneration, social security and pensions | 62 | €48,728 | €50,655 | +€1,927 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,213 | €55,494 | +€281 | +0.5% |
| Other operating charges | 640/8 | €3,590 | €2,436 | -€1,155 | -32.2% |
| Gross operating margin | 9900 | €202,391 | €181,564 | -€20,826 | -10.3% |
| Operating profit (loss) | 9901 | €94,860 | €72,980 | -€21,880 | -23.1% |
| Financial income | 75/76B | €13 | €0 | -€13 | -99.5% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -99.5% |
| Financial charges | 65/66B | €3,212 | €1,492 | -€1,720 | -53.5% |
| Recurring financial charges | 65 | €3,212 | €1,492 | -€1,720 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €91,661 | €71,488 | -€20,173 | -22.0% |
| Income taxes | 67/77 | €26,991 | €21,124 | -€5,867 | -21.7% |
| Profit (loss) for the period | 9904 | €64,670 | €50,364 | -€14,306 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,670 | €50,364 | -€14,306 | -22.1% |
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 26 October 2026 via checked.be.