KOEN MORBEE, ADVOCAAT: 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.
KOEN MORBEE, ADVOCAAT
Largest movements
- Receivables within one year -€551,260
down €551,260 (-46.0%), from €1.2m to €647,495
of which Other amounts receivable: -€547,995
- Receivables after one year -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€38,692
up €38,692 (+8.0%), from €483,286 to €521,978
mainly Receivables within one year (+€551,260) and Receivables after one year (+€400,000)
- Tangible fixed assets -€32,107
down €32,107 (-11.0%), from €291,395 to €259,288
of which Land and buildings: -€18,898
- Reserves -€1.0m
down €1.0m (-35.3%), from €2.9m to €1.9m
of which Distributable reserves: -€1.0m
- Tax, wage and social debts +€95,643
up €95,643 (+165%), from €58,130 to €153,774
of which Taxes: +€95,631
- Gross operating margin +€316,682
up €316,682 (+147%), from €214,807 to €531,489
- Taxes +€110,020
up €110,020 (+208%), from €52,976 to €162,996
- Financial income -€23,976
down €23,976 (-31.6%), from €75,768 to €51,792
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 | €3,011,701 | €2,069,992 | -€941,709 | -31.3% |
| Fixed assets | 21/28 | €929,660 | €900,519 | -€29,141 | -3.1% |
| Tangible fixed assets | 22/27 | €291,395 | €259,288 | -€32,107 | -11.0% |
| Land and buildings | 22 | €255,383 | €236,485 | -€18,898 | -7.4% |
| Plant, machinery and equipment | 23 | €462 | €242 | -€220 | -47.7% |
| Furniture and vehicles | 24 | €35,550 | €22,562 | -€12,989 | -36.5% |
| Financial fixed assets | 28 | €638,265 | €641,231 | +€2,966 | +0.5% |
| Current assets | 29/58 | €2,082,041 | €1,169,473 | -€912,568 | -43.8% |
| Amounts receivable after more than one year | 29 | €400,000 | - | -€400,000 | |
| Other amounts receivable | 291 | €400,000 | - | -€400,000 | |
| Amounts receivable within one year | 40/41 | €1,198,755 | €647,495 | -€551,260 | -46.0% |
| Trade receivables | 40 | €3,265 | - | -€3,265 | |
| Other amounts receivable | 41 | €1,195,490 | €647,495 | -€547,995 | -45.8% |
| Cash at bank and in hand | 54/58 | €483,286 | €521,978 | +€38,692 | +8.0% |
| Total equity and liabilities | 10/49 | €3,011,701 | €2,069,992 | -€941,709 | -31.3% |
| Equity | 10/15 | €2,949,556 | €1,911,543 | -€1.0m | -35.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,943,356 | €1,905,343 | -€1.0m | -35.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,500 | €29,500 | = | 0.0% |
| Distributable reserves | 133 | €2,911,996 | €1,873,983 | -€1.0m | -35.6% |
| Amounts payable | 17/49 | €62,145 | €158,449 | +€96,304 | +155% |
| Amounts payable within one year | 42/48 | €62,145 | €158,449 | +€96,304 | +155% |
| Trade debts | 44 | €4,015 | €4,675 | +€661 | +16.5% |
| Suppliers | 440/4 | €4,015 | €4,675 | +€661 | +16.5% |
| Taxes, remuneration and social security | 45 | €58,130 | €153,774 | +€95,643 | +165% |
| Taxes | 450/3 | €54,484 | €150,115 | +€95,631 | +176% |
| Remuneration and social security | 454/9 | €3,647 | €3,659 | +€12 | +0.3% |
| Remuneration, social security and pensions | 62 | €65,592 | €65,362 | -€230 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,003 | €32,107 | -€896 | -2.7% |
| Other operating charges | 640/8 | €3,339 | €5,734 | +€2,395 | +71.7% |
| Gross operating margin | 9900 | €214,807 | €531,489 | +€316,682 | +147% |
| Operating profit (loss) | 9901 | €112,873 | €428,286 | +€315,412 | +279% |
| Financial income | 75/76B | €75,768 | €51,792 | -€23,976 | -31.6% |
| Recurring financial income | 75 | €75,768 | €51,792 | -€23,976 | -31.6% |
| Financial charges | 65/66B | €85 | €95 | +€10 | +11.7% |
| Recurring financial charges | 65 | €85 | €95 | +€10 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €188,557 | €479,983 | +€291,426 | +155% |
| Income taxes | 67/77 | €52,976 | €162,996 | +€110,020 | +208% |
| Profit (loss) for the period | 9904 | €135,581 | €316,987 | +€181,406 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €135,581 | €316,987 | +€181,406 | +134% |
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 26 October 2026 via checked.be.