ALAIN MORRIER: 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.
ALAIN MORRIER
Largest movements
- Cash +€20,252
up €20,252 (+11.7%), from €172,677 to €192,928
mainly Depreciation (+€72,986) and Net result for the year (+€50,410)
- Tangible fixed assets +€5,042
up €5,042 (+4.6%), from €110,767 to €115,809
of which Land and buildings: +€22,419
- Stocks and contracts +€3,293
up €3,293 (+204%), from €1,616 to €4,909
- Reserves +€50,000
up €50,000 (+69.0%), from €72,479 to €122,479
of which Distributable reserves: +€50,000
- Tax, wage and social debts -€42,503
down €42,503 (-79.8%), from €53,272 to €10,769
of which Remuneration and social security: -€46,471
- Debts after one year +€12,716
up €12,716 (+22.5%), from €56,583 to €69,299
- Trade debts +€11,336
up €11,336 (+260%), from €4,358 to €15,694
- Gross operating margin +€20,490
up €20,490 (+10.2%), from €200,332 to €220,822
- Taxes +€8,339
up €8,339 (+5,164%), from €161 to €8,500
- Depreciation +€8,262
up €8,262 (+12.8%), from €64,723 to €72,986
- Staff costs +€5,344
up €5,344 (+7.1%), from €74,942 to €80,286
- Financial income -€2,921
down €2,921 (-97.7%), from €2,991 to €70
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 | €291,537 | €324,152 | +€32,615 | +11.2% |
| Fixed assets | 21/28 | €110,849 | €115,891 | +€5,042 | +4.5% |
| Tangible fixed assets | 22/27 | €110,767 | €115,809 | +€5,042 | +4.6% |
| Land and buildings | 22 | €16,831 | €39,251 | +€22,419 | +133% |
| Plant, machinery and equipment | 23 | €58,182 | €50,480 | -€7,703 | -13.2% |
| Furniture and vehicles | 24 | €35,754 | €26,079 | -€9,675 | -27.1% |
| Financial fixed assets | 28 | €82 | €82 | = | 0.0% |
| Current assets | 29/58 | €180,688 | €208,261 | +€27,573 | +15.3% |
| Stocks and contracts in progress | 3 | €1,616 | €4,909 | +€3,293 | +204% |
| Stocks | 30/36 | €1,616 | €4,909 | +€3,293 | +204% |
| Amounts receivable within one year | 40/41 | €5,398 | €8,392 | +€2,994 | +55.5% |
| Trade receivables | 40 | €402 | €5,286 | +€4,884 | +1,214% |
| Other amounts receivable | 41 | €4,996 | €3,106 | -€1,890 | -37.8% |
| Cash at bank and in hand | 54/58 | €172,677 | €192,928 | +€20,252 | +11.7% |
| Deferred charges and accrued income | 490/1 | €997 | €2,032 | +€1,034 | +104% |
| Total equity and liabilities | 10/49 | €291,537 | €324,152 | +€32,615 | +11.2% |
| Equity | 10/15 | €97,814 | €148,224 | +€50,410 | +51.5% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Contributions outside capital | 11 | €24,789 | €24,789 | = | 0.0% |
| Other | 1109/19 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €72,479 | €122,479 | +€50,000 | +69.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €120,000 | +€50,000 | +71.4% |
| Profit (loss) carried forward | 14 | €546 | €955 | +€410 | +75.0% |
| Amounts payable | 17/49 | €193,723 | €175,928 | -€17,795 | -9.2% |
| Amounts payable after more than one year | 17 | €56,583 | €69,299 | +€12,716 | +22.5% |
| Financial debts | 170/4 | €56,583 | €69,299 | +€12,716 | +22.5% |
| Amounts payable within one year | 42/48 | €137,140 | €106,630 | -€30,511 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €26,188 | €27,270 | +€1,082 | +4.1% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Credit institutions | 430/8 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €4,358 | €15,694 | +€11,336 | +260% |
| Suppliers | 440/4 | €4,358 | €15,694 | +€11,336 | +260% |
| Taxes, remuneration and social security | 45 | €53,272 | €10,769 | -€42,503 | -79.8% |
| Taxes | 450/3 | €4,532 | €8,500 | +€3,968 | +87.6% |
| Remuneration and social security | 454/9 | €48,740 | €2,269 | -€46,471 | -95.3% |
| Other amounts payable | 47/48 | €13,323 | €12,897 | -€425 | -3.2% |
| Remuneration, social security and pensions | 62 | €74,942 | €80,286 | +€5,344 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,723 | €72,986 | +€8,262 | +12.8% |
| Other operating charges | 640/8 | €2,887 | €1,506 | -€1,380 | -47.8% |
| Gross operating margin | 9900 | €200,332 | €220,822 | +€20,490 | +10.2% |
| Operating profit (loss) | 9901 | €57,780 | €66,044 | +€8,264 | +14.3% |
| Financial income | 75/76B | €2,991 | €70 | -€2,921 | -97.7% |
| Recurring financial income | 75 | €2,991 | €70 | -€2,921 | -97.7% |
| Financial charges | 65/66B | €4,515 | €7,205 | +€2,690 | +59.6% |
| Recurring financial charges | 65 | €4,515 | €7,205 | +€2,690 | +59.6% |
| Profit (loss) for the period before taxes | 9903 | €56,256 | €58,910 | +€2,653 | +4.7% |
| Income taxes | 67/77 | €161 | €8,500 | +€8,339 | +5,164% |
| Profit (loss) for the period | 9904 | €56,095 | €50,410 | -€5,685 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,095 | €50,410 | -€5,685 | -10.1% |
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 16 October 2026 via checked.be.