VLEESWAREN MERTENS: 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.
VLEESWAREN MERTENS
Largest movements
- Receivables within one year +€64,716
up €64,716 (+9.9%), from €653,126 to €717,842
of which Other amounts receivable: +€62,219
- Cash -€52,382
down €52,382 (-19.2%), from €272,593 to €220,211
mainly Investment in fixed assets (net) (-€116,618) and Debts after one year (-€100,729)
- Reserves +€157,451
up €157,451 (+7.2%), from €2.2m to €2.3m
- Debts after one year -€100,729
down €100,729 (-81.8%), from €123,073 to €22,344
- Other debts +€72,907
up €72,907 (+36,222%), from €201 to €73,108
- Trade debts -€38,417
down €38,417 (-68.5%), from €56,066 to €17,649
- Short-term financial debts -€25,991
down €25,991 (-61.5%), from €42,243 to €16,252
- Gross operating margin -€146,698
down €146,698 (-27.2%), from €539,638 to €392,941
- Taxes -€51,330
down €51,330 (-44.2%), from €116,027 to €64,697
- Depreciation +€9,062
up €9,062 (+10.2%), from €89,212 to €98,274
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 | €2,504,937 | €2,559,273 | +€54,336 | +2.2% |
| Fixed assets | 21/28 | €275,654 | €293,998 | +€18,344 | +6.7% |
| Tangible fixed assets | 22/27 | €275,654 | €293,998 | +€18,344 | +6.7% |
| Land and buildings | 22 | €64,956 | €57,198 | -€7,758 | -11.9% |
| Plant, machinery and equipment | 23 | €33,043 | €58,638 | +€25,595 | +77.5% |
| Furniture and vehicles | 24 | €177,654 | €178,161 | +€507 | +0.3% |
| Current assets | 29/58 | €2,229,283 | €2,265,275 | +€35,992 | +1.6% |
| Stocks and contracts in progress | 3 | €80,565 | €80,565 | = | 0.0% |
| Stocks | 30/36 | €80,565 | €80,565 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €653,126 | €717,842 | +€64,716 | +9.9% |
| Trade receivables | 40 | €108,005 | €110,501 | +€2,496 | +2.3% |
| Other amounts receivable | 41 | €545,122 | €607,341 | +€62,219 | +11.4% |
| Current investments | 50/53 | €1,222,998 | €1,246,657 | +€23,658 | +1.9% |
| Cash at bank and in hand | 54/58 | €272,593 | €220,211 | -€52,382 | -19.2% |
| Total equity and liabilities | 10/49 | €2,504,937 | €2,559,273 | +€54,336 | +2.2% |
| Equity | 10/15 | €2,206,953 | €2,364,404 | +€157,451 | +7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,188,353 | €2,345,804 | +€157,451 | +7.2% |
| Distributable reserves | 133 | €2,188,353 | €2,345,804 | +€157,451 | +7.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €297,984 | €194,868 | -€103,115 | -34.6% |
| Amounts payable after more than one year | 17 | €123,073 | €22,344 | -€100,729 | -81.8% |
| Financial debts | 170/4 | €123,073 | €22,344 | -€100,729 | -81.8% |
| Amounts payable within one year | 42/48 | €174,910 | €172,524 | -€2,386 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €24,596 | €25,729 | +€1,133 | +4.6% |
| Financial debts | 43 | €42,243 | €16,252 | -€25,991 | -61.5% |
| Credit institutions | 430/8 | €42,243 | €16,252 | -€25,991 | -61.5% |
| Trade debts | 44 | €56,066 | €17,649 | -€38,417 | -68.5% |
| Suppliers | 440/4 | €56,066 | €17,649 | -€38,417 | -68.5% |
| Taxes, remuneration and social security | 45 | €51,803 | €39,786 | -€12,017 | -23.2% |
| Taxes | 450/3 | €35,948 | €24,549 | -€11,399 | -31.7% |
| Remuneration and social security | 454/9 | €15,855 | €15,237 | -€618 | -3.9% |
| Other amounts payable | 47/48 | €201 | €73,108 | +€72,907 | +36,222% |
| Non-recurring operating income | 76A | - | €497 | +€497 | |
| Remuneration, social security and pensions | 62 | €91,002 | €95,366 | +€4,364 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,212 | €98,274 | +€9,062 | +10.2% |
| Other operating charges | 640/8 | €2,987 | €2,080 | -€907 | -30.4% |
| Gross operating margin | 9900 | €539,638 | €392,941 | -€146,698 | -27.2% |
| Operating profit (loss) | 9901 | €356,436 | €197,220 | -€159,216 | -44.7% |
| Financial income | 75/76B | €28,993 | €32,311 | +€3,318 | +11.4% |
| Recurring financial income | 75 | €28,993 | €32,311 | +€3,318 | +11.4% |
| Financial charges | 65/66B | €8,700 | €7,383 | -€1,316 | -15.1% |
| Recurring financial charges | 65 | €8,700 | €7,383 | -€1,316 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €376,730 | €222,148 | -€154,582 | -41.0% |
| Income taxes | 67/77 | €116,027 | €64,697 | -€51,330 | -44.2% |
| Profit (loss) for the period | 9904 | €260,703 | €157,451 | -€103,252 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €260,703 | €157,451 | -€103,252 | -39.6% |
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 26 October 2026 via checked.be.