MERVEILLE: 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.
MERVEILLE
Largest movements
- Receivables within one year -€122,375
down €122,375 (-6.0%), from €2.1m to €1.9m
of which Other amounts receivable: -€67,678
- Tangible fixed assets +€62,891
up €62,891 (+22.8%), from €275,439 to €338,329
of which Furniture and vehicles: +€40,391
- Cash +€54,852
up €54,852 (+11.6%), from €473,918 to €528,771
mainly Net result for the year (+€194,055) and Receivables within one year (+€122,375)
- Deferred charges and accrued income +€46,255
up €46,255 (+7,816%), from €592 to €46,847
- Other debts -€248,000
no longer reported in 2025 (was €248,000)
- Reserves +€200,000
up €200,000 (+12.9%), from €1.5m to €1.7m
of which Distributable reserves: +€200,000
- Debts after one year +€100,027
new in 2025: €100,027
- Trade debts -€34,815
down €34,815 (-55.3%), from €62,982 to €28,167
- Gross operating margin -€535,075
down €535,075 (-8.0%), from €6.7m to €6.2m
- Staff costs -€520,638
down €520,638 (-8.2%), from €6.3m to €5.8m
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 | €2,802,356 | €2,843,980 | +€41,623 | +1.5% |
| Fixed assets | 21/28 | €275,439 | €338,329 | +€62,891 | +22.8% |
| Tangible fixed assets | 22/27 | €275,439 | €338,329 | +€62,891 | +22.8% |
| Land and buildings | 22 | €106,587 | €100,431 | -€6,155 | -5.8% |
| Plant, machinery and equipment | 23 | €90,584 | €119,239 | +€28,655 | +31.6% |
| Furniture and vehicles | 24 | €78,268 | €118,659 | +€40,391 | +51.6% |
| Current assets | 29/58 | €2,526,918 | €2,505,651 | -€21,267 | -0.8% |
| Amounts receivable within one year | 40/41 | €2,052,408 | €1,930,032 | -€122,375 | -6.0% |
| Trade receivables | 40 | €1,205,616 | €1,150,919 | -€54,697 | -4.5% |
| Other amounts receivable | 41 | €846,791 | €779,113 | -€67,678 | -8.0% |
| Cash at bank and in hand | 54/58 | €473,918 | €528,771 | +€54,852 | +11.6% |
| Deferred charges and accrued income | 490/1 | €592 | €46,847 | +€46,255 | +7,816% |
| Total equity and liabilities | 10/49 | €2,802,356 | €2,843,980 | +€41,623 | +1.5% |
| Equity | 10/15 | €1,679,456 | €1,873,511 | +€194,055 | +11.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,548,700 | €1,748,700 | +€200,000 | +12.9% |
| Non-distributable reserves | 130/1 | €606,200 | €606,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Financial assistance | 1313 | €600,000 | €600,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €905,000 | €1,105,000 | +€200,000 | +22.1% |
| Profit (loss) carried forward | 14 | €68,756 | €62,811 | -€5,945 | -8.6% |
| Amounts payable | 17/49 | €1,122,900 | €970,469 | -€152,432 | -13.6% |
| Amounts payable after more than one year | 17 | - | €100,027 | +€100,027 | |
| Financial debts | 170/4 | - | €100,027 | +€100,027 | |
| Amounts payable within one year | 42/48 | €1,122,900 | €870,441 | -€252,459 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | - | €26,834 | +€26,834 | |
| Trade debts | 44 | €62,982 | €28,167 | -€34,815 | -55.3% |
| Suppliers | 440/4 | €62,982 | €28,167 | -€34,815 | -55.3% |
| Taxes, remuneration and social security | 45 | €811,918 | €815,441 | +€3,523 | +0.4% |
| Taxes | 450/3 | €135,266 | €223,101 | +€87,835 | +64.9% |
| Remuneration and social security | 454/9 | €676,653 | €592,340 | -€84,313 | -12.5% |
| Other amounts payable | 47/48 | €248,000 | - | -€248,000 | |
| Remuneration, social security and pensions | 62 | €6,338,292 | €5,817,654 | -€520,638 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,868 | €69,478 | +€30,610 | +78.8% |
| Other operating charges | 640/8 | €26,506 | €3,487 | -€23,019 | -86.8% |
| Gross operating margin | 9900 | €6,693,257 | €6,158,182 | -€535,075 | -8.0% |
| Operating profit (loss) | 9901 | €289,591 | €267,562 | -€22,029 | -7.6% |
| Financial income | 75/76B | €25,293 | €23,067 | -€2,225 | -8.8% |
| Recurring financial income | 75 | €25,293 | €23,067 | -€2,225 | -8.8% |
| Financial charges | 65/66B | €7,796 | €10,391 | +€2,594 | +33.3% |
| Recurring financial charges | 65 | €7,796 | €10,391 | +€2,594 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €307,088 | €280,239 | -€26,849 | -8.7% |
| Income taxes | 67/77 | €115,854 | €86,184 | -€29,670 | -25.6% |
| Profit (loss) for the period | 9904 | €191,233 | €194,055 | +€2,822 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €191,233 | €194,055 | +€2,822 | +1.5% |
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 16 October 2026 via checked.be.