MERIC: what changed
MERIC
Largest movements
- Receivables within one year -€18,255
down €18,255 (-42.5%), from €42,928 to €24,673
of which Other amounts receivable: -€19,938
- Deferred charges and accrued income -€10,132
down €10,132 (-39.0%), from €26,013 to €15,880
- Cash +€3,804
up €3,804 (+6.9%), from €55,362 to €59,166
mainly Other debts (+€27,696) and Net result for the year (+€27,693)
- Tangible fixed assets -€3,657
down €3,657 (-24.5%), from €14,924 to €11,267
of which Furniture and vehicles: -€2,137
- Reserves -€47,495
down €47,495 (-36.8%), from €129,139 to €81,644
- Other debts +€27,696
up €27,696 (+96.4%), from €28,731 to €56,427
- Debts after one year -€14,467
down €14,467 (-27.6%), from €52,488 to €38,021
- Tax, wage and social debts +€4,269
up €4,269 (+49.4%), from €8,649 to €12,918
- Financial charges -€12,471
down €12,471 (-71.8%), from €17,363 to €4,892
of which Non-recurring financial charges: -€11,651
- Gross operating margin +€9,420
up €9,420 (+46.8%), from €20,130 to €29,550
- Depreciation -€4,669
down €4,669 (-49.6%), from €9,421 to €4,752
- Taxes +€3,245
up €3,245 (+392%), from €827 to €4,072
- Other operating charges +€991
up €991 (+26.0%), from €3,813 to €4,804
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,046 | €235,806 | -€28,240 | -10.7% |
| Fixed assets | 21/28 | €136,854 | €133,197 | -€3,657 | -2.7% |
| Tangible fixed assets | 22/27 | €14,924 | €11,267 | -€3,657 | -24.5% |
| Plant, machinery and equipment | 23 | €3,055 | €1,536 | -€1,519 | -49.7% |
| Furniture and vehicles | 24 | €5,868 | €3,731 | -€2,137 | -36.4% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €121,930 | €121,930 | = | 0.0% |
| Current assets | 29/58 | €127,192 | €102,610 | -€24,583 | -19.3% |
| Amounts receivable within one year | 40/41 | €42,928 | €24,673 | -€18,255 | -42.5% |
| Trade receivables | 40 | €22,990 | €24,673 | +€1,683 | +7.3% |
| Other amounts receivable | 41 | €19,938 | - | -€19,938 | |
| Current investments | 50/53 | €2,890 | €2,890 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,362 | €59,166 | +€3,804 | +6.9% |
| Deferred charges and accrued income | 490/1 | €26,013 | €15,880 | -€10,132 | -39.0% |
| Total equity and liabilities | 10/49 | €264,046 | €235,806 | -€28,240 | -10.7% |
| Equity | 10/15 | €150,424 | €102,929 | -€47,495 | -31.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,139 | €81,644 | -€47,495 | -36.8% |
| Distributable reserves | 133 | €129,139 | €81,644 | -€47,495 | -36.8% |
| Profit (loss) carried forward | 14 | €2,685 | €2,685 | = | 0.0% |
| Amounts payable | 17/49 | €113,622 | €132,877 | +€19,255 | +16.9% |
| Amounts payable after more than one year | 17 | €52,488 | €38,021 | -€14,467 | -27.6% |
| Financial debts | 170/4 | €52,488 | €38,021 | -€14,467 | -27.6% |
| Amounts payable within one year | 42/48 | €61,134 | €94,856 | +€33,722 | +55.2% |
| Current portion of amounts payable after more than one year | 42 | €14,061 | €14,467 | +€406 | +2.9% |
| Trade debts | 44 | €9,693 | €11,044 | +€1,352 | +13.9% |
| Suppliers | 440/4 | €9,693 | €11,044 | +€1,352 | +13.9% |
| Taxes, remuneration and social security | 45 | €8,649 | €12,918 | +€4,269 | +49.4% |
| Taxes | 450/3 | €8,649 | €12,918 | +€4,269 | +49.4% |
| Other amounts payable | 47/48 | €28,731 | €56,427 | +€27,696 | +96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,421 | €4,752 | -€4,669 | -49.6% |
| Other operating charges | 640/8 | €3,813 | €4,804 | +€991 | +26.0% |
| Gross operating margin | 9900 | €20,130 | €29,550 | +€9,420 | +46.8% |
| Operating profit (loss) | 9901 | €6,896 | €19,993 | +€13,097 | +190% |
| Financial income | 75/76B | €16,664 | €16,664 | -€0 | 0.0% |
| Recurring financial income | 75 | €16,664 | €16,664 | -€0 | 0.0% |
| Financial charges | 65/66B | €17,363 | €4,892 | -€12,471 | -71.8% |
| Recurring financial charges | 65 | €5,604 | €4,783 | -€821 | -14.6% |
| Non-recurring financial charges | 66B | €11,759 | €109 | -€11,651 | -99.1% |
| Profit (loss) for the period before taxes | 9903 | €6,197 | €31,765 | +€25,568 | +413% |
| Income taxes | 67/77 | €827 | €4,072 | +€3,245 | +392% |
| Profit (loss) for the period | 9904 | €5,370 | €27,693 | +€22,324 | +416% |
| Profit (loss) for the period to be appropriated | 9905 | €5,370 | €27,693 | +€22,324 | +416% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.