MORPHOSA
Annual accounts 2025
micro format, filed on 29-06-2026, 32 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €390,000. Estimated: probably between €330,000 and €690,000.
Balance sheet
balance sheet total €373,023 on 31-12-2025in euro
in euro
Position in the sector
24.9%
Higher than 26% of 39,364 companies in 2025.
1.12
Higher than 29% of 38,048 companies in 2025.
54.8%
Higher than 89% of 38,520 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
373,023 | 401,501 | 252,176 | 927 | |
21/28 |
76,626 | 57,969 | 50,710 | 287 | |
22/27 |
24,932 | 7,969 | 710 | 287 | |
24 |
12,659 | 4,017 | 710 | 287 | |
26 |
12,272 | 3,952 | - | - | |
28 |
51,694 | 50,000 | 50,000 | - | |
29/58 |
296,397 | 343,532 | 201,466 | 640 | |
29 |
96,791 | 44,679 | - | - | |
290 |
96,791 | 44,679 | - | - | |
40/41 |
109,275 | 115,088 | 98,155 | 286 | |
40 |
109,128 | 110,331 | 94,763 | - | |
41 |
148 | 4,757 | 3,392 | 286 | |
50/53 |
50,276 | 175,218 | 45,014 | - | |
54/58 |
34,417 | 5,114 | 56,172 | 354 | |
490/1 |
5,638 | 3,434 | 2,124 | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
373,023 | 401,501 | 252,176 | 927 | |
10/15 |
93,000 | 306,267 | 130,152 | 119 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
14 |
90,000 | 303,267 | 127,152 | -2,881 | |
17/49 |
280,023 | 95,235 | 122,024 | 808 | |
42/48 |
265,617 | 95,235 | 122,024 | 808 | |
43 |
1,061 | 4,169 | 2,883 | - | |
439 |
1,061 | 4,169 | 2,883 | - | |
44 |
3,175 | 3,255 | 1,326 | 808 | |
440/4 |
3,175 | 3,255 | 1,326 | 808 | |
45 |
47,319 | 87,811 | 67,814 | - | |
450/3 |
47,319 | 87,811 | 67,814 | - | |
47/48 |
214,062 | 0 | 50,000 | - | |
492/3 |
14,406 | - | - | - | |
| Income statement | |||||
9900 |
275,220 | 227,870 | 168,670 | -1,274 | |
630 |
7,597 | 1,325 | 210 | 1,599 | |
640/8 |
999 | 196 | 943 | - | |
9901 |
266,624 | 226,349 | 167,517 | -2,873 | |
75/76B |
5,325 | 5,270 | 318 | - | |
75 |
5,325 | 5,270 | 318 | - | |
65/66B |
5,328 | 383 | 867 | 8 | |
65 |
5,328 | 383 | 867 | 8 | |
9903 |
266,622 | 231,236 | 166,969 | -2,881 | |
67/77 |
62,280 | 55,122 | 36,935 | - | |
9904 |
204,342 | 176,114 | 130,033 | -2,881 | |
9905 |
204,342 | 176,114 | 130,033 | -2,881 | |
| Appropriation of the result | |||||
9906 |
507,609 | 303,267 | 127,152 | -2,881 | |
14P |
303,267 | 127,152 | -2,881 | - | |
694/7 |
417,609 | - | - | - | |
694 |
417,609 | - | - | - | |
| Document | |||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 274,221 | 227,674 | 167,727 | -1,274 | ||
| 211,939 | 177,440 | 130,244 | -1,282 | ||
| 26,254 | 8,585 | 50,634 | 289 | ||
| 29,303 | -51,058 | 55,818 | - | ||
| 30,780 | 248,297 | 79,442 | -168 | ||
| 24.9% | 76.3% | 51.6% | - | ||
| 1.12 | 3.61 | 1.65 | - | ||
| 3.01 | 0.31 | 0.94 | - | ||
| 219.7% | 57.5% | 99.9% | - | ||
| 54.8% | 43.9% | 51.6% | - | ||
| 51.47 | over 100 | over 100 | -154.23 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €24,559 | €8,585 | €634 | €289 |
| Financial fixed assets | €1,694 | €0 | €50,000 | - |
| €7,597 | €1,325 | €210 | €1,599 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on MORPHOSA
The operating result for 2025 is 18% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Debt's share of the balance-sheet total rises from 23.7% to 75.1%. Equity is lower and debt is higher.