MERTENS MAARTEN: 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 MAARTEN
Largest movements
- Deferred charges and accrued income +€20,000
new in 2025: €20,000
- Receivables within one year -€12,390
down €12,390 (-42.2%), from €29,360 to €16,970
of which Trade receivables: -€12,100
- Cash +€3,295
up €3,295 (+69.8%), from €4,724 to €8,019
mainly Receivables within one year (+€12,390) and Tax, wage and social debts (+€6,940)
- Tangible fixed assets -€614
down €614 (-23.1%), from €2,658 to €2,044
- Tax, wage and social debts +€6,940
up €6,940 (+146%), from €4,759 to €11,700
of which Remuneration and social security: +€4,795
- Reserves +€3,543
up €3,543 (+21.5%), from €16,457 to €20,000
- Gross operating margin +€1,906
up €1,906 (+43.3%), from €4,400 to €6,306
- Taxes -€441
down €441 (-28.8%), from €1,534 to €1,093
- Financial charges +€274
up €274 (+136%), from €201 to €475
- Depreciation +€201
up €201 (+48.8%), from €413 to €614
- Other operating charges -€178
down €178 (-33.6%), from €528 to €350
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 | €36,742 | €47,033 | +€10,291 | +28.0% |
| Fixed assets | 21/28 | €2,658 | €2,044 | -€614 | -23.1% |
| Tangible fixed assets | 22/27 | €2,658 | €2,044 | -€614 | -23.1% |
| Other tangible fixed assets | 26 | €2,658 | €2,044 | -€614 | -23.1% |
| Current assets | 29/58 | €34,084 | €44,989 | +€10,906 | +32.0% |
| Amounts receivable within one year | 40/41 | €29,360 | €16,970 | -€12,390 | -42.2% |
| Trade receivables | 40 | €29,070 | €16,970 | -€12,100 | -41.6% |
| Other amounts receivable | 41 | €290 | - | -€290 | |
| Cash at bank and in hand | 54/58 | €4,724 | €8,019 | +€3,295 | +69.8% |
| Deferred charges and accrued income | 490/1 | - | €20,000 | +€20,000 | |
| Total equity and liabilities | 10/49 | €36,742 | €47,033 | +€10,291 | +28.0% |
| Equity | 10/15 | €19,457 | €23,231 | +€3,773 | +19.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,457 | €20,000 | +€3,543 | +21.5% |
| Distributable reserves | 133 | €16,457 | €20,000 | +€3,543 | +21.5% |
| Profit (loss) carried forward | 14 | - | €231 | +€231 | |
| Amounts payable | 17/49 | €17,285 | €23,802 | +€6,518 | +37.7% |
| Amounts payable within one year | 42/48 | €17,285 | €23,802 | +€6,518 | +37.7% |
| Trade debts | 44 | €1,055 | €770 | -€285 | -27.0% |
| Suppliers | 440/4 | €1,055 | €770 | -€285 | -27.0% |
| Taxes, remuneration and social security | 45 | €4,759 | €11,700 | +€6,940 | +146% |
| Taxes | 450/3 | €4,759 | €6,905 | +€2,145 | +45.1% |
| Remuneration and social security | 454/9 | - | €4,795 | +€4,795 | |
| Other amounts payable | 47/48 | €11,470 | €11,333 | -€138 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €614 | +€201 | +48.8% |
| Other operating charges | 640/8 | €528 | €350 | -€178 | -33.6% |
| Gross operating margin | 9900 | €4,400 | €6,306 | +€1,906 | +43.3% |
| Operating profit (loss) | 9901 | €3,459 | €5,342 | +€1,883 | +54.4% |
| Financial charges | 65/66B | €201 | €475 | +€274 | +136% |
| Recurring financial charges | 65 | €201 | €475 | +€274 | +136% |
| Profit (loss) for the period before taxes | 9903 | €3,258 | €4,867 | +€1,609 | +49.4% |
| Income taxes | 67/77 | €1,534 | €1,093 | -€441 | -28.8% |
| Profit (loss) for the period | 9904 | €1,724 | €3,773 | +€2,050 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €1,724 | €3,773 | +€2,050 | +119% |
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 22 October 2026 via checked.be.