MERTURE: 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.
MERTURE
Largest movements
- Receivables after one year +€56,130
up €56,130 (+22.1%), from €253,870 to €310,000
- Receivables within one year +€8,696
up €8,696 (+2.9%), from €302,969 to €311,665
of which Other amounts receivable: +€15,652
- Reserves +€67,196
up €67,196 (+27.8%), from €241,841 to €309,037
- Accrued charges and deferred income +€12,600
up €12,600 (+900%), from €1,400 to €14,000
- Debts after one year -€12,368
down €12,368 (-85.1%), from €14,529 to €2,161
- Tax, wage and social debts -€11,147
down €11,147 (-35.4%), from €31,501 to €20,354
- Gross operating margin -€38,945
down €38,945 (-28.8%), from €135,397 to €96,452
- Taxes -€10,240
down €10,240 (-33.5%), from €30,594 to €20,354
- Other operating charges +€3,755
up €3,755 (+411%), from €915 to €4,670
- Financial charges +€1,836
up €1,836 (+31.2%), from €5,884 to €7,719
- Financial income +€1,436
up €1,436 (+32.4%), from €4,436 to €5,872
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 | €568,825 | €627,344 | +€58,519 | +10.3% |
| Fixed assets | 21/28 | €2,835 | €3,137 | +€302 | +10.6% |
| Tangible fixed assets | 22/27 | €2,835 | €3,137 | +€302 | +10.6% |
| Plant, machinery and equipment | 23 | €580 | €2,080 | +€1,500 | +259% |
| Furniture and vehicles | 24 | €2,255 | €1,057 | -€1,198 | -53.1% |
| Current assets | 29/58 | €565,990 | €624,208 | +€58,218 | +10.3% |
| Amounts receivable after more than one year | 29 | €253,870 | €310,000 | +€56,130 | +22.1% |
| Other amounts receivable | 291 | €253,870 | €310,000 | +€56,130 | +22.1% |
| Amounts receivable within one year | 40/41 | €302,969 | €311,665 | +€8,696 | +2.9% |
| Trade receivables | 40 | €278,979 | €272,023 | -€6,956 | -2.5% |
| Other amounts receivable | 41 | €23,991 | €39,642 | +€15,652 | +65.2% |
| Cash at bank and in hand | 54/58 | €5,824 | €503 | -€5,321 | -91.4% |
| Deferred charges and accrued income | 490/1 | €3,327 | €2,040 | -€1,287 | -38.7% |
| Total equity and liabilities | 10/49 | €568,825 | €627,344 | +€58,519 | +10.3% |
| Equity | 10/15 | €246,841 | €314,037 | +€67,196 | +27.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €241,841 | €309,037 | +€67,196 | +27.8% |
| Distributable reserves | 133 | €241,841 | €309,037 | +€67,196 | +27.8% |
| Amounts payable | 17/49 | €321,984 | €313,307 | -€8,676 | -2.7% |
| Amounts payable after more than one year | 17 | €14,529 | €2,161 | -€12,368 | -85.1% |
| Financial debts | 170/4 | €14,529 | €2,161 | -€12,368 | -85.1% |
| Amounts payable within one year | 42/48 | €306,055 | €297,147 | -€8,908 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €11,402 | €12,368 | +€966 | +8.5% |
| Trade debts | 44 | €263,152 | €264,424 | +€1,273 | +0.5% |
| Suppliers | 440/4 | €263,152 | €264,424 | +€1,273 | +0.5% |
| Taxes, remuneration and social security | 45 | €31,501 | €20,354 | -€11,147 | -35.4% |
| Taxes | 450/3 | €31,501 | €20,354 | -€11,147 | -35.4% |
| Accrued charges and deferred income | 492/3 | €1,400 | €14,000 | +€12,600 | +900% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,916 | €2,386 | -€531 | -18.2% |
| Other operating charges | 640/8 | €915 | €4,670 | +€3,755 | +411% |
| Gross operating margin | 9900 | €135,397 | €96,452 | -€38,945 | -28.8% |
| Operating profit (loss) | 9901 | €131,566 | €89,396 | -€42,170 | -32.1% |
| Financial income | 75/76B | €4,436 | €5,872 | +€1,436 | +32.4% |
| Recurring financial income | 75 | €4,436 | €5,872 | +€1,436 | +32.4% |
| Financial charges | 65/66B | €5,884 | €7,719 | +€1,836 | +31.2% |
| Recurring financial charges | 65 | €5,884 | €7,719 | +€1,836 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €130,119 | €87,549 | -€42,569 | -32.7% |
| Income taxes | 67/77 | €30,594 | €20,354 | -€10,240 | -33.5% |
| Profit (loss) for the period | 9904 | €99,525 | €67,196 | -€32,329 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €99,525 | €67,196 | -€32,329 | -32.5% |
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 17 October 2026 via checked.be.