MERTENS WERNER: 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 WERNER
Largest movements
- Cash +€47,812
up €47,812 (+210%), from €22,812 to €70,624
mainly Net result for the year (+€35,960) and Receivables within one year (+€23,781)
- Receivables within one year -€23,781
down €23,781 (-53.9%), from €44,161 to €20,380
of which Trade receivables: -€32,366
- Deferred charges and accrued income -€4,165
no longer reported in 2025 (was €4,165)
- Reserves +€35,960
up €35,960 (+117%), from €30,616 to €66,576
of which Distributable reserves: +€37,820
- Other debts -€14,219
down €14,219 (-95.7%), from €14,856 to €637
- Trade debts -€5,174
down €5,174 (-82.7%), from €6,258 to €1,084
- Tax, wage and social debts +€4,844
up €4,844 (+72.4%), from €6,690 to €11,535
- Accrued charges and deferred income -€1,710
no longer reported in 2025 (was €1,710)
- Gross operating margin +€7,813
up €7,813 (+16.8%), from €46,554 to €54,368
- Taxes +€5,968
up €5,968 (+61.0%), from €9,789 to €15,757
- Depreciation -€5,739
down €5,739 (-80.8%), from €7,107 to €1,368
- Other operating charges +€626
up €626 (+170%), from €368 to €994
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 | €78,731 | €98,433 | +€19,701 | +25.0% |
| Fixed assets | 21/28 | €7,593 | €7,428 | -€165 | -2.2% |
| Tangible fixed assets | 22/27 | €7,593 | €7,428 | -€165 | -2.2% |
| Land and buildings | 22 | €3,393 | €2,374 | -€1,019 | -30.0% |
| Plant, machinery and equipment | 23 | €2,510 | €1,839 | -€671 | -26.7% |
| Furniture and vehicles | 24 | €1,690 | €3,215 | +€1,525 | +90.3% |
| Current assets | 29/58 | €71,138 | €91,004 | +€19,866 | +27.9% |
| Amounts receivable within one year | 40/41 | €44,161 | €20,380 | -€23,781 | -53.9% |
| Trade receivables | 40 | €43,950 | €11,584 | -€32,366 | -73.6% |
| Other amounts receivable | 41 | €211 | €8,796 | +€8,585 | +4,071% |
| Cash at bank and in hand | 54/58 | €22,812 | €70,624 | +€47,812 | +210% |
| Deferred charges and accrued income | 490/1 | €4,165 | - | -€4,165 | |
| Total equity and liabilities | 10/49 | €78,731 | €98,433 | +€19,701 | +25.0% |
| Equity | 10/15 | €49,216 | €85,176 | +€35,960 | +73.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,616 | €66,576 | +€35,960 | +117% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €28,756 | €66,576 | +€37,820 | +132% |
| Amounts payable | 17/49 | €29,515 | €13,256 | -€16,259 | -55.1% |
| Amounts payable within one year | 42/48 | €27,805 | €13,256 | -€14,549 | -52.3% |
| Trade debts | 44 | €6,258 | €1,084 | -€5,174 | -82.7% |
| Suppliers | 440/4 | €6,258 | €1,084 | -€5,174 | -82.7% |
| Taxes, remuneration and social security | 45 | €6,690 | €11,535 | +€4,844 | +72.4% |
| Taxes | 450/3 | €6,690 | €11,535 | +€4,844 | +72.4% |
| Other amounts payable | 47/48 | €14,856 | €637 | -€14,219 | -95.7% |
| Accrued charges and deferred income | 492/3 | €1,710 | - | -€1,710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,107 | €1,368 | -€5,739 | -80.8% |
| Other operating charges | 640/8 | €368 | €994 | +€626 | +170% |
| Gross operating margin | 9900 | €46,554 | €54,368 | +€7,813 | +16.8% |
| Operating profit (loss) | 9901 | €39,080 | €52,006 | +€12,926 | +33.1% |
| Financial income | 75/76B | €454 | - | -€454 | |
| Recurring financial income | 75 | €454 | - | -€454 | |
| Financial charges | 65/66B | €520 | €288 | -€231 | -44.5% |
| Recurring financial charges | 65 | €520 | €288 | -€231 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | €39,014 | €51,717 | +€12,703 | +32.6% |
| Income taxes | 67/77 | €9,789 | €15,757 | +€5,968 | +61.0% |
| Profit (loss) for the period | 9904 | €29,225 | €35,960 | +€6,735 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,225 | €35,960 | +€6,735 | +23.0% |
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 20 October 2026 via checked.be.