DE MOERHOEVE: what changed
Two fiscal 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.
DE MOERHOEVE
Largest movements
- Cash +€360,171
up €360,171 (+88.2%), from €408,403 to €768,574
mainly Net result for the year (+€176,952) and Depreciation (+€88,485)
- Tangible fixed assets -€77,893
down €77,893 (-23.7%), from €328,099 to €250,206
of which Furniture and vehicles: -€64,475
- Receivables within one year -€47,196
down €47,196 (-27.4%), from €172,129 to €124,933
of which Other amounts receivable: -€54,766
- Stocks and contracts -€35,868
down €35,868 (-11.4%), from €313,274 to €277,406
- Reserves +€176,900
up €176,900 (+55.8%), from €317,190 to €494,090
of which Distributable reserves: +€176,900
- Trade debts +€31,426
up €31,426 (+34.0%), from €92,375 to €123,802
- Gross operating margin -€13,534
down €13,534 (-3.3%), from €406,389 to €392,856
- Depreciation +€13,236
up €13,236 (+17.6%), from €75,249 to €88,485
- Taxes -€8,099
down €8,099 (-8.8%), from €91,787 to €83,688
- Financial income -€5,677
down €5,677 (-56.9%), from €9,978 to €4,301
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,299,319 | €1,502,303 | +€202,984 | +15.6% |
| Fixed assets | 21/28 | €328,439 | €250,546 | -€77,893 | -23.7% |
| Tangible fixed assets | 22/27 | €328,099 | €250,206 | -€77,893 | -23.7% |
| Land and buildings | 22 | €84,173 | €67,077 | -€17,096 | -20.3% |
| Plant, machinery and equipment | 23 | €16,109 | €20,076 | +€3,968 | +24.6% |
| Furniture and vehicles | 24 | €227,246 | €162,770 | -€64,475 | -28.4% |
| Other tangible fixed assets | 26 | €572 | €282 | -€290 | -50.7% |
| Financial fixed assets | 28 | €340 | €340 | = | 0.0% |
| Current assets | 29/58 | €970,880 | €1,251,757 | +€280,877 | +28.9% |
| Amounts receivable after more than one year | 29 | €68,608 | €69,561 | +€954 | +1.4% |
| Other amounts receivable | 291 | €68,608 | €69,561 | +€954 | +1.4% |
| Stocks and contracts in progress | 3 | €313,274 | €277,406 | -€35,868 | -11.4% |
| Stocks | 30/36 | €313,274 | €277,406 | -€35,868 | -11.4% |
| Amounts receivable within one year | 40/41 | €172,129 | €124,933 | -€47,196 | -27.4% |
| Trade receivables | 40 | €57,530 | €65,100 | +€7,570 | +13.2% |
| Other amounts receivable | 41 | €114,599 | €59,833 | -€54,766 | -47.8% |
| Cash at bank and in hand | 54/58 | €408,403 | €768,574 | +€360,171 | +88.2% |
| Deferred charges and accrued income | 490/1 | €8,467 | €11,283 | +€2,816 | +33.3% |
| Total equity and liabilities | 10/49 | €1,299,319 | €1,502,303 | +€202,984 | +15.6% |
| Equity | 10/15 | €966,910 | €1,143,862 | +€176,952 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €317,190 | €494,090 | +€176,900 | +55.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €315,330 | €492,230 | +€176,900 | +56.1% |
| Profit (loss) carried forward | 14 | €631,120 | €631,172 | +€52 | 0.0% |
| Amounts payable | 17/49 | €332,410 | €358,441 | +€26,032 | +7.8% |
| Amounts payable after more than one year | 17 | €63,995 | €56,205 | -€7,790 | -12.2% |
| Financial debts | 170/4 | €63,995 | €56,205 | -€7,790 | -12.2% |
| Amounts payable within one year | 42/48 | €237,595 | €273,212 | +€35,617 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €59,597 | €59,798 | +€201 | +0.3% |
| Trade debts | 44 | €92,375 | €123,802 | +€31,426 | +34.0% |
| Suppliers | 440/4 | €92,375 | €123,802 | +€31,426 | +34.0% |
| Taxes, remuneration and social security | 45 | €13,612 | €7,492 | -€6,120 | -45.0% |
| Taxes | 450/3 | €7,621 | €2,110 | -€5,512 | -72.3% |
| Remuneration and social security | 454/9 | €5,991 | €5,382 | -€609 | -10.2% |
| Other amounts payable | 47/48 | €72,010 | €82,120 | +€10,110 | +14.0% |
| Accrued charges and deferred income | 492/3 | €30,820 | €29,025 | -€1,795 | -5.8% |
| Remuneration, social security and pensions | 62 | €42,795 | €43,383 | +€588 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,249 | €88,485 | +€13,236 | +17.6% |
| Other operating charges | 640/8 | €4,586 | €3,006 | -€1,580 | -34.5% |
| Non-recurring operating charges | 66A | €770 | €0 | -€770 | -100.0% |
| Gross operating margin | 9900 | €406,389 | €392,856 | -€13,534 | -3.3% |
| Operating profit (loss) | 9901 | €282,990 | €257,982 | -€25,008 | -8.8% |
| Financial income | 75/76B | €9,978 | €4,301 | -€5,677 | -56.9% |
| Recurring financial income | 75 | €9,978 | €4,301 | -€5,677 | -56.9% |
| Financial charges | 65/66B | €2,389 | €1,643 | -€746 | -31.2% |
| Recurring financial charges | 65 | €2,389 | €1,643 | -€746 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €290,580 | €260,640 | -€29,940 | -10.3% |
| Income taxes | 67/77 | €91,787 | €83,688 | -€8,099 | -8.8% |
| Profit (loss) for the period | 9904 | €198,793 | €176,952 | -€21,840 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €198,793 | €176,952 | -€21,840 | -11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.