Mervielde: what changed
Two fiscal 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.
What changed
Mervielde
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.5m
2024 · €3.5m-€999,801
Equity
€9.8m
2024 · €10.3m-€553,775
Cash
€1.2m
2024 · €1.5m-€316,452
Balance sheet total
€17.5m
2024 · €18.7m-€1.3m
Largest movements
Assets
- Tangible fixed assets -€815,095
down €815,095 (-9.4%), from €8.7m to €7.9m
- Current investments -€800,000
no longer reported in 2025 (was €800,000)
- Receivables within one year +€481,754
up €481,754 (+7.2%), from €6.7m to €7.2m
of which Trade receivables: +€458,993
- Cash -€316,452
down €316,452 (-21.5%), from €1.5m to €1.2m
mainly Contributions, distributions and other (-€3.0m) and Investment in fixed assets (net) (-€1.4m)
- Deferred charges and accrued income +€266,436
up €266,436 (+43.5%), from €613,099 to €879,535
Equity and liabilities
- Other debts -€1.0m
down €1.0m (-24.5%), from €4.1m to €3.1m
- Reserves -€473,700
down €473,700 (-5.0%), from €9.5m to €9.1m
of which Distributable reserves: -€500,000
Income statement
- Turnover +€2.1m
up €2.1m (+5.7%), from €37.5m to €39.6m
- Services and other goods +€1.4m
up €1.4m (+11.3%), from €12.3m to €13.7m
- Staff costs +€1.2m
up €1.2m (+9.3%), from €12.9m to €14.1m
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.
Result 2024
€3.5m
Turnover
+€2.1m
Other operating income
-€156,042
Goods and materials
-€380,490
Services and other goods
-€1.4m
Staff costs
-€1.2m
Depreciation
-€278,903
Other operating charges
+€11,484
Other operating items
-€88,679
Financial income
+€135,120
Financial charges
+€11,532
Taxes
+€204,900
Result 2025
€2.5m
Cash bridge derived
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.
From operations
+€3.2m
Investment
-€595,235
Financing
-€2.9m
Cash 2024
€1.5m
From operations (derived)
+€3.2m
Net result for the year
+€2.5m
Depreciation
+€2.2m
Stocks and contracts
+€44,601
Receivables within one year
-€481,754
Deferred charges and accrued income
-€266,436
Provisions
-€4,871
Trade debts
+€72,139
Tax, wage and social debts
+€134,638
Other debts
-€1.0m
Accrued charges and deferred income
-€15,658
Investment (derived)
-€595,235
Investment in fixed assets (net)
-€1.4m
Current investments
+€800,000
Financing
-€2.9m
Debts after one year
+€130,698
Current portion of long-term debt
-€19,269
Contributions, distributions and other
-€3.0m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,718,221 | €17,456,523 | -€1.3m | -6.7% |
| Fixed assets | 21/28 | €9,005,426 | €8,156,590 | -€848,836 | -9.4% |
| Intangible fixed assets | 21 | €285,369 | €251,762 | -€33,607 | -11.8% |
| Tangible fixed assets | 22/27 | €8,709,580 | €7,894,485 | -€815,095 | -9.4% |
| Land and buildings | 22 | €2,764,849 | €2,413,425 | -€351,424 | -12.7% |
| Plant, machinery and equipment | 23 | €1,522,986 | €1,294,006 | -€228,980 | -15.0% |
| Furniture and vehicles | 24 | €3,914,805 | €3,567,575 | -€347,230 | -8.9% |
| Leasing and similar rights | 25 | €506,940 | €619,479 | +€112,539 | +22.2% |
| Financial fixed assets | 28 | €10,477 | €10,342 | -€135 | -1.3% |
| Other financial fixed assets | 284/8 | €10,477 | €10,342 | -€135 | -1.3% |
| Amounts receivable and cash guarantees | 285/8 | €10,477 | €10,342 | -€135 | -1.3% |
| Current assets | 29/58 | €9,712,795 | €9,299,933 | -€412,862 | -4.3% |
| Stocks and contracts in progress | 3 | €134,304 | €89,703 | -€44,601 | -33.2% |
| Stocks | 30/36 | €134,304 | €89,703 | -€44,601 | -33.2% |
| Raw materials and consumables | 30/31 | €134,304 | €89,703 | -€44,601 | -33.2% |
| Amounts receivable within one year | 40/41 | €6,696,124 | €7,177,878 | +€481,754 | +7.2% |
| Trade receivables | 40 | €6,696,124 | €7,155,117 | +€458,993 | +6.9% |
| Other amounts receivable | 41 | - | €22,762 | +€22,762 | |
| Current investments | 50/53 | €800,000 | - | -€800,000 | |
| Other investments | 51/53 | €800,000 | - | -€800,000 | |
| Cash at bank and in hand | 54/58 | €1,469,268 | €1,152,816 | -€316,452 | -21.5% |
| Deferred charges and accrued income | 490/1 | €613,099 | €879,535 | +€266,436 | +43.5% |
| Total equity and liabilities | 10/49 | €18,718,221 | €17,456,523 | -€1.3m | -6.7% |
| Equity | 10/15 | €10,329,472 | €9,775,697 | -€553,775 | -5.4% |
| Contributions | 10/11 | €286,801 | €286,801 | +€0 | 0.0% |
| Capital | 10 | €286,801 | €286,801 | +€0 | 0.0% |
| Issued capital | 100 | €286,801 | €286,801 | +€0 | 0.0% |
| Reserves | 13 | €9,542,699 | €9,068,999 | -€473,700 | -5.0% |
| Non-distributable reserves | 130/1 | €36,947 | €36,947 | -€0 | 0.0% |
| Legal reserve | 130 | €36,947 | €36,947 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €2,005,752 | €2,032,052 | +€26,300 | +1.3% |
| Distributable reserves | 133 | €7,500,000 | €7,000,000 | -€500,000 | -6.7% |
| Profit (loss) carried forward | 14 | €494,363 | €419,897 | -€74,466 | -15.1% |
| Investment grants | 15 | €5,609 | - | -€5,609 | |
| Provisions and deferred taxes | 16 | €4,871 | - | -€4,871 | |
| Provisions for liabilities and charges | 160/5 | €1,983 | - | -€1,983 | |
| Other liabilities and charges | 164/5 | €1,983 | - | -€1,983 | |
| Deferred taxes | 168 | €2,888 | - | -€2,888 | |
| Amounts payable | 17/49 | €8,383,878 | €7,680,826 | -€703,052 | -8.4% |
| Amounts payable after more than one year | 17 | €66,722 | €197,420 | +€130,698 | +195.9% |
| Financial debts | 170/4 | €66,722 | €197,420 | +€130,698 | +195.9% |
| Leasing and similar obligations | 172 | €66,722 | €197,420 | +€130,698 | +195.9% |
| Amounts payable within one year | 42/48 | €8,296,542 | €7,478,450 | -€818,092 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €192,682 | €173,413 | -€19,269 | -10.0% |
| Trade debts | 44 | €2,338,585 | €2,410,724 | +€72,139 | +3.1% |
| Suppliers | 440/4 | €2,338,585 | €2,410,724 | +€72,139 | +3.1% |
| Taxes, remuneration and social security | 45 | €1,654,191 | €1,788,829 | +€134,638 | +8.1% |
| Taxes | 450/3 | €375,274 | €541,274 | +€166,000 | +44.2% |
| Remuneration and social security | 454/9 | €1,278,917 | €1,247,555 | -€31,362 | -2.5% |
| Other amounts payable | 47/48 | €4,111,084 | €3,105,484 | -€1.0m | -24.5% |
| Accrued charges and deferred income | 492/3 | €20,614 | €4,956 | -€15,658 | -76.0% |
| Operating income | 70/76A | €38,841,694 | €40,706,604 | +€1.9m | +4.8% |
| Turnover | 70 | €37,512,910 | €39,644,972 | +€2.1m | +5.7% |
| Other operating income | 74 | €1,187,374 | €1,031,332 | -€156,042 | -13.1% |
| Non-recurring operating income | 76A | €141,410 | €30,300 | -€111,110 | -78.6% |
| Operating charges | 60/66A | €34,158,489 | €37,374,751 | +€3.2m | +9.4% |
| Goods for resale, raw materials and consumables | 60 | €6,822,077 | €7,202,567 | +€380,490 | +5.6% |
| Purchases | 600/8 | €6,805,010 | €7,157,966 | +€352,956 | +5.2% |
| Change in stocks: decrease (increase) | 609 | €17,067 | €44,600 | +€27,533 | +161.3% |
| Services and other goods | 61 | €12,263,911 | €13,654,716 | +€1.4m | +11.3% |
| Remuneration, social security and pensions | 62 | €12,886,541 | €14,086,521 | +€1.2m | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,965,168 | €2,244,071 | +€278,903 | +14.2% |
| Other operating charges | 640/8 | €198,361 | €186,877 | -€11,484 | -5.8% |
| Non-recurring operating charges | 66A | €22,431 | - | -€22,431 | |
| Operating profit (loss) | 9901 | €4,683,205 | €3,331,853 | -€1.4m | -28.9% |
| Financial income | 75/76B | €15,755 | €150,875 | +€135,120 | +857.6% |
| Recurring financial income | 75 | €15,755 | €150,875 | +€135,120 | +857.6% |
| Other financial income | 752/9 | €15,755 | €150,875 | +€135,120 | +857.6% |
| Financial charges | 65/66B | €84,542 | €73,010 | -€11,532 | -13.6% |
| Recurring financial charges | 65 | €84,542 | €73,010 | -€11,532 | -13.6% |
| Debt charges | 650 | €58,328 | €51,529 | -€6,799 | -11.7% |
| Other financial charges | 652/9 | €26,214 | €21,481 | -€4,733 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €4,614,418 | €3,409,718 | -€1.2m | -26.1% |
| Income taxes | 67/77 | €1,160,384 | €955,484 | -€204,900 | -17.7% |
| Taxes | 670/3 | €1,160,384 | €955,484 | -€204,900 | -17.7% |
| Profit (loss) for the period | 9904 | €3,454,034 | €2,454,233 | -€999,801 | -28.9% |
| Transfer to tax-exempt reserves | 689 | €137,300 | €26,300 | -€111,000 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,316,734 | €2,427,933 | -€888,801 | -26.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.