A. MORMAL
Dissolution or liquidationFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 26 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,274▲ 92.8%
2024 · -€31,451
Working capital
€167,007▼ 1.3%
2024 · €169,281
Multi-year overview
2018 to 2025, 9 financial yearsOperating result
-€2,132
▲ 93.2%
2025
20182025
Net result
-€2,274
▲ 92.8%
2025
lowest quarter of the sector
20182025
Equity
€167,007
▼ 1.3%
2025
highest quarter of the sector
20182025
Total assets
€168,583
▼ 1.2%
2025
middle half of the sector
20182025
Debt
€1,576
▲ 19.4%
2025
20182025
Working capital
€167,007
▼ 1.3%
2025
highest quarter of the sector
20182025
Solvency
99.1%
▼ 0.2pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-1.3%
▲ 17.1pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222022202320242025
Operating result€29,277-€62,031▲ 112%-€77,278-€40,272▲ 47.9%-€14,574▲ 63.8%-€5,821--€379,351▼ 6,417%-€31,250▲ 91.8%-€2,132▲ 93.2%
Net result€19,217-€38,737▲ 102%-€78,554-€41,162below the sector's middle half▲ 47.6%-€15,001below the sector's middle half▲ 63.6%-€6,297below the sector's middle half--€380,070below the sector's middle half▼ 5,936%-€31,451below the sector's middle half▲ 91.7%-€2,274below the sector's middle half▲ 92.8%
Equity€701,829-€740,566▲ 5.5%€643,262▼ 13.1%€602,100above the sector's middle half▼ 6.4%€587,099above the sector's middle half▼ 2.5%€580,802above the sector's middle half-€200,732above the sector's middle half▼ 65.4%€169,281above the sector's middle half▼ 15.7%€167,007above the sector's middle half▼ 1.3%
Total assets€779,178-€797,042▲ 2.3%€670,229▼ 15.9%€650,392above the sector's middle half▼ 3.0%€594,901above the sector's middle half▼ 8.5%€587,664above the sector's middle half-€200,732within the sector's middle half▼ 65.8%€170,601within the sector's middle half▼ 15.0%€168,583within the sector's middle half▼ 1.2%
Debt€67,349-€46,476▼ 31.0%€26,967▼ 42.0%€48,292▲ 79.1%€7,802▼ 83.8%€6,862-€1,320€1,576▲ 19.4%
Working capital€701,278-€741,504▲ 5.7%€641,143▼ 13.5%€601,399above the sector's middle half▼ 6.2%€586,515above the sector's middle half▼ 2.5%€580,335above the sector's middle half-€169,281above the sector's middle half€167,007above the sector's middle half▼ 1.3%
Solvency90.1%-92.9%▲ 2.8pp96.0%▲ 3.1pp92.6%above the sector's middle half▼ 3.4pp98.7%above the sector's middle half▲ 6.1pp98.8%above the sector's middle half-100.0%above the sector's middle half▲ 1.2pp99.2%above the sector's middle half▼ 0.8pp99.1%above the sector's middle half▼ 0.2pp
Current ratio17.66-21.23▲ 3.5724.78▲ 3.5413.45above the sector's middle half▼ 11.3276.17above the sector's middle half▲ 62.7285.57above the sector's middle half-
Return on assets (ROA)2.5%-4.9%▲ 2.4pp-11.7%▼ 16.6pp-6.3%below the sector's middle half▲ 5.4pp-2.5%below the sector's middle half▲ 3.8pp-1.1%below the sector's middle half--189.3%below the sector's middle half▼ 188.3pp-18.4%below the sector's middle half▲ 170.9pp-1.3%below the sector's middle half▲ 17.1pp
Staff (FTE)4-4=2.3▼ 42.5%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Several financial years end in the same calendar year, so there is no annual trend.
Large changes and their cause
- 2023 Net result -5,936% on 2022. The previous financial year ran 6 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €168,583
Equity
€167,007 ▼ 1.3%
Debt
€1,576 ▲ 19.4%
Debt's share of the balance-sheet total rises from 0.8% to 0.9%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.01▲
2024 · 0.01
ROE
-1.4%▲
2024 · -18.6%
Debt ≤ 1 year
€1,576▲
2024 · €1,320
Supplier credit
270 days
A ratio outside any meaningful range has been withheld (balance sheet total €168,583, equity €167,007).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €9,000 | - | - | €5,436 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €866 | - | €2,132 | - |
| Remuneration, social security and pensions62 | - | - | - | €363 | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,993 | €16,921 | €16,769 | €234 | €117 | €117 | €234 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €383,453 | €28,468 | - | - |
| Other operating charges640/8 | - | - | - | €21,746 | - | - | - | - | - | - |
| Non-recurring operating charges66A | - | - | - | €5,131 | - | - | €234 | - | - | - |
| Gross operating margin9900 | €212,634 | €261,507 | €90,772 | -€12,798 | -€14,457 | -€5,704 | €4,570 | -€2,782 | -€2,132 | ▲ 23.4% |
| Operating profit (loss)9901 | €29,277 | €62,031 | -€77,278 | -€40,272 | -€14,574 | -€5,821 | -€379,351 | -€31,250 | -€2,132 | ▲ 93.2% |
| Financial income75/76B | - | - | - | €104 | €17 | - | - | €200 | €269 | ▲ 34.5% |
| Recurring financial income75 | €396 | €560 | €168 | €104 | €17 | - | - | €200 | €269 | ▲ 34.5% |
| Financial charges65/66B | - | - | - | €994 | €444 | €476 | €719 | €401 | €411 | ▲ 2.5% |
| Recurring financial charges65 | €2,317 | €1,416 | €1,619 | €994 | €444 | €476 | €719 | €401 | €411 | ▲ 2.5% |
| Profit (loss) for the period before taxes9903 | €27,356 | €61,175 | -€78,729 | -€41,162 | -€15,001 | -€6,297 | -€380,070 | -€31,451 | -€2,274 | ▲ 92.8% |
| Income taxes67/77 | €8,139 | €22,438 | -€175 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €19,217 | €38,737 | -€78,554 | -€41,162 | -€15,001 | -€6,297 | -€380,070 | -€31,451 | -€2,274 | ▲ 92.8% |
| Profit (loss) for the period to be appropriated9905 | €19,217 | €38,737 | -€78,554 | -€41,162 | -€15,001 | -€6,297 | -€380,070 | -€31,451 | -€2,274 | ▲ 92.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Total assets20/58 | €779,178 | €797,042 | €670,229 | €650,392 | €594,901 | €587,664 | €200,732 | €170,601 | €168,583 | ▼ 1.2% |
| Fixed assets21/28 | €35,809 | €18,888 | €2,119 | €701 | €584 | €467 | - | - | - | - |
| Tangible fixed assets22/27 | €35,809 | €18,888 | €2,119 | €701 | €584 | €467 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €701 | €584 | €467 | - | - | - | - |
| Current assets29/58 | €743,369 | €778,154 | €668,110 | €649,691 | €594,317 | €587,197 | €200,732 | €170,601 | €168,583 | ▼ 1.2% |
| Amounts receivable within one year40/41 | €378,845 | €417,390 | €429,358 | €543,351 | €511,065 | €499,504 | €124,291 | €93,621 | €95,121 | ▲ 1.6% |
| Trade receivables40 | - | - | - | €82,239 | €48,922 | €48,922 | €28,468 | - | - | - |
| Other amounts receivable41 | - | - | - | €461,112 | €462,143 | €450,582 | €95,823 | €93,621 | €95,121 | ▲ 1.6% |
| Current investments50/53 | €100,000 | €100,000 | €100,000 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €264,524 | €260,764 | €138,752 | €106,340 | €83,252 | €87,693 | €76,441 | €76,980 | €73,462 | ▼ 4.6% |
| Equity and liabilities | ||||||||||
| Total equity and liabilities10/49 | €779,178 | €797,042 | €670,229 | €650,392 | €594,901 | €587,664 | €200,732 | €170,601 | €168,583 | ▼ 1.2% |
| Equity10/15 | €701,829 | €740,566 | €643,262 | €602,100 | €587,099 | €580,802 | €200,732 | €169,281 | €167,007 | ▼ 1.3% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €20,610 | €58,610 | €39,860 | €39,860 | €39,860 | €39,860 | €39,860 | €39,860 | €39,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €38,000 | €38,000 | €38,000 | €38,000 | €38,000 | €38,000 | = |
| Profit (loss) carried forward14 | €675,019 | €675,756 | €597,202 | €556,040 | €541,039 | €534,742 | €154,672 | €123,221 | €120,947 | ▼ 1.8% |
| Provisions and deferred taxes16 | €10,000 | €10,000 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €67,349 | €46,476 | €26,967 | €48,292 | €7,802 | €6,862 | - | €1,320 | €1,576 | ▲ 19.4% |
| Amounts payable after more than one year17 | €25,258 | €9,826 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €42,091 | €36,650 | €26,967 | €48,292 | €7,802 | €6,862 | - | €1,320 | €1,576 | ▲ 19.4% |
| Trade debts44 | €6,618 | €2,777 | €1,302 | €47,314 | €7,802 | €6,862 | - | €1,320 | €1,576 | ▲ 19.4% |
| Suppliers440/4 | - | - | - | €47,314 | €7,802 | €6,862 | - | €1,320 | €1,576 | ▲ 19.4% |
| Taxes, remuneration and social security45 | - | - | - | €978 | - | - | - | - | - | - |
| Taxes450/3 | - | - | - | €978 | - | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,217 | €38,737 | -€78,554 | -€41,162 | -€15,001 | -€6,297 | -€380,070 | -€31,451 | -€2,274 | ▲ 92.8% |
| + Depreciation and write-downs630 | €26,993 | €16,921 | €16,769 | €234 | €117 | €117 | €234 | - | - | - |
| Operating cash flow (approximation) | €46,210 | €55,658 | -€61,785 | -€40,928 | -€14,884 | -€6,180 | -€379,836 | -€31,451 | -€2,274 | ▲ 92.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €1,184 | €0 | - | - | - | - | - |
| Change in cash | - | -€3,760 | -€122,012 | -€32,412 | -€23,088 | - | -€11,252 | €539 | -€3,518 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-06-2026 | 2026-00169351 | |
| 31-12-2024 | micro format | 16-06-2025 | 2025-00148683 | |
| 31-12-2023 | micro format | 31-05-2024 | 2024-00111649 | |
| 31-12-2022 | micro format | 19-06-2023 | 2023-00141711 | |
| 30-06-2022 | micro format | 17-02-2023 | 2023-00028860 | |
| 31-12-2021 | micro format | 19-05-2022 | 2022-20029999 | |
| 31-12-2020 | full format | 16-06-2021 | 2021-21600130 | |
| 31-12-2019 | full format | 16-07-2020 | 2020-31100529 | |
| 31-12-2018 | full format | 28-06-2019 | 2019-26400449 | |
| 31-12-2017 | full format | 23-08-2018 | 2018-49300231 |