C-MORIA: 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.
C-MORIA
Largest movements
- Tangible fixed assets +€46,565
up €46,565 (+120%), from €38,812 to €85,377
of which Furniture and vehicles: +€36,872
- Receivables within one year +€10,738
up €10,738 (+30.4%), from €35,306 to €46,044
of which Trade receivables: +€7,890
- Cash -€10,665
down €10,665 (-6.1%), from €174,569 to €163,904
mainly Investment in fixed assets (net) (-€61,256) and Receivables within one year (-€10,738)
- Reserves +€32,442
up €32,442 (+20.0%), from €162,532 to €194,975
- Other debts +€7,799
up €7,799 (+39.1%), from €19,925 to €27,724
- Tax, wage and social debts +€5,142
up €5,142 (+36.5%), from €14,098 to €19,240
- Gross operating margin -€13,015
down €13,015 (-18.6%), from €69,913 to €56,898
- Depreciation +€6,960
up €6,960 (+90.0%), from €7,730 to €14,691
- Taxes -€4,671
down €4,671 (-27.0%), from €17,310 to €12,639
- Write-downs -€4,000
down €4,000, from €2,000 to -€2,000
- Financial income +€3,914
up €3,914 (+225%), from €1,739 to €5,653
of which Non-recurring financial income: +€3,652
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 | €251,358 | €298,243 | +€46,885 | +18.7% |
| Fixed assets | 21/28 | €38,813 | €85,378 | +€46,565 | +120% |
| Tangible fixed assets | 22/27 | €38,812 | €85,377 | +€46,565 | +120% |
| Plant, machinery and equipment | 23 | €5,192 | €2,654 | -€2,538 | -48.9% |
| Furniture and vehicles | 24 | €33,620 | €70,491 | +€36,872 | +110% |
| Other tangible fixed assets | 26 | - | €12,232 | +€12,232 | |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €212,545 | €212,865 | +€320 | +0.2% |
| Amounts receivable within one year | 40/41 | €35,306 | €46,044 | +€10,738 | +30.4% |
| Trade receivables | 40 | €35,306 | €43,196 | +€7,890 | +22.3% |
| Other amounts receivable | 41 | €0 | €2,849 | +€2,849 | |
| Cash at bank and in hand | 54/58 | €174,569 | €163,904 | -€10,665 | -6.1% |
| Deferred charges and accrued income | 490/1 | €2,670 | €2,916 | +€246 | +9.2% |
| Total equity and liabilities | 10/49 | €251,358 | €298,243 | +€46,885 | +18.7% |
| Equity | 10/15 | €213,432 | €245,875 | +€32,442 | +15.2% |
| Contributions | 10/11 | €50,900 | €50,900 | = | 0.0% |
| Reserves | 13 | €162,532 | €194,975 | +€32,442 | +20.0% |
| Distributable reserves | 133 | €162,532 | €194,975 | +€32,442 | +20.0% |
| Amounts payable | 17/49 | €37,925 | €52,368 | +€14,443 | +38.1% |
| Amounts payable within one year | 42/48 | €36,675 | €51,118 | +€14,443 | +39.4% |
| Trade debts | 44 | €2,653 | €4,154 | +€1,502 | +56.6% |
| Suppliers | 440/4 | €2,653 | €4,154 | +€1,502 | +56.6% |
| Taxes, remuneration and social security | 45 | €14,098 | €19,240 | +€5,142 | +36.5% |
| Taxes | 450/3 | €14,098 | €19,240 | +€5,142 | +36.5% |
| Other amounts payable | 47/48 | €19,925 | €27,724 | +€7,799 | +39.1% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Non-recurring operating income | 76A | €10,744 | €0 | -€10,744 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,730 | €14,691 | +€6,960 | +90.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,000 | -€2,000 | -€4,000 | |
| Other operating charges | 640/8 | €596 | €2,683 | +€2,087 | +350% |
| Gross operating margin | 9900 | €69,913 | €56,898 | -€13,015 | -18.6% |
| Operating profit (loss) | 9901 | €59,586 | €41,524 | -€18,062 | -30.3% |
| Financial income | 75/76B | €1,739 | €5,653 | +€3,914 | +225% |
| Recurring financial income | 75 | €1,739 | €2,000 | +€261 | +15.0% |
| Non-recurring financial income | 76B | - | €3,652 | +€3,652 | |
| Financial charges | 65/66B | €260 | €2,096 | +€1,836 | +707% |
| Recurring financial charges | 65 | €260 | €2,096 | +€1,836 | +707% |
| Profit (loss) for the period before taxes | 9903 | €61,066 | €45,081 | -€15,985 | -26.2% |
| Income taxes | 67/77 | €17,310 | €12,639 | -€4,671 | -27.0% |
| Profit (loss) for the period | 9904 | €43,756 | €32,442 | -€11,314 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,756 | €32,442 | -€11,314 | -25.9% |
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 18 October 2026 via checked.be.