Los Morros: 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.
Los Morros
Largest movements
- Current investments +€2.3m
new in 2025: €2.3m
- Receivables within one year +€167,795
up €167,795 (+48.5%), from €345,792 to €513,587
of which Other amounts receivable: +€347,296
- Receivables after one year +€148,450
up €148,450 (+43.8%), from €338,895 to €487,345
- Tangible fixed assets +€140,470
up €140,470 (+41.1%), from €341,798 to €482,268
of which Land and buildings: +€136,401
- Cash -€121,307
down €121,307 (-45.2%), from €268,461 to €147,154
mainly Current investments (-€2.3m) and Investment in fixed assets (net) (-€170,005)
- Trade debts +€2.2m
up €2.2m (+7,865%), from €28,282 to €2.3m
- Reserves +€442,126
up €442,126 (+45.6%), from €970,423 to €1.4m
- Other debts -€114,671
down €114,671 (-64.7%), from €177,261 to €62,590
- Tax, wage and social debts +€53,913
up €53,913 (+42.8%), from €126,087 to €180,000
- Gross operating margin +€245,500
up €245,500 (+64.2%), from €382,520 to €628,020
- Taxes +€93,355
up €93,355 (+102%), from €91,200 to €184,555
- Financial income +€47,153
new in 2025: €47,153
- Other operating charges -€36,458
down €36,458 (-95.2%), from €38,314 to €1,855
- Write-downs +€15,000
new in 2025: €15,000
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 | €1,303,053 | €3,911,716 | +€2.6m | +200% |
| Fixed assets | 21/28 | €346,798 | €488,268 | +€141,470 | +40.8% |
| Tangible fixed assets | 22/27 | €341,798 | €482,268 | +€140,470 | +41.1% |
| Land and buildings | 22 | €318,884 | €455,285 | +€136,401 | +42.8% |
| Plant, machinery and equipment | 23 | - | €9,078 | +€9,078 | |
| Furniture and vehicles | 24 | €22,914 | €15,905 | -€7,009 | -30.6% |
| Other tangible fixed assets | 26 | - | €2,000 | +€2,000 | |
| Financial fixed assets | 28 | €5,000 | €6,000 | +€1,000 | +20.0% |
| Current assets | 29/58 | €956,255 | €3,423,448 | +€2.5m | +258% |
| Amounts receivable after more than one year | 29 | €338,895 | €487,345 | +€148,450 | +43.8% |
| Other amounts receivable | 291 | €338,895 | €487,345 | +€148,450 | +43.8% |
| Amounts receivable within one year | 40/41 | €345,792 | €513,587 | +€167,795 | +48.5% |
| Trade receivables | 40 | €290,742 | €111,240 | -€179,501 | -61.7% |
| Other amounts receivable | 41 | €55,051 | €402,347 | +€347,296 | +631% |
| Current investments | 50/53 | - | €2,272,070 | +€2.3m | |
| Cash at bank and in hand | 54/58 | €268,461 | €147,154 | -€121,307 | -45.2% |
| Deferred charges and accrued income | 490/1 | €3,107 | €3,292 | +€185 | +6.0% |
| Total equity and liabilities | 10/49 | €1,303,053 | €3,911,716 | +€2.6m | +200% |
| Equity | 10/15 | €971,423 | €1,413,548 | +€442,126 | +45.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €970,423 | €1,412,548 | +€442,126 | +45.6% |
| Distributable reserves | 133 | €970,423 | €1,412,548 | +€442,126 | +45.6% |
| Amounts payable | 17/49 | €331,630 | €2,498,168 | +€2.2m | +653% |
| Amounts payable within one year | 42/48 | €331,630 | €2,496,306 | +€2.2m | +653% |
| Trade debts | 44 | €28,282 | €2,252,621 | +€2.2m | +7,865% |
| Suppliers | 440/4 | €28,282 | €2,252,621 | +€2.2m | +7,865% |
| Advances received on contracts in progress | 46 | - | €1,095 | +€1,095 | |
| Taxes, remuneration and social security | 45 | €126,087 | €180,000 | +€53,913 | +42.8% |
| Taxes | 450/3 | €126,087 | €180,000 | +€53,913 | +42.8% |
| Other amounts payable | 47/48 | €177,261 | €62,590 | -€114,671 | -64.7% |
| Accrued charges and deferred income | 492/3 | - | €1,862 | +€1,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,284 | €28,535 | +€14,251 | +99.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,000 | +€15,000 | |
| Other operating charges | 640/8 | €38,314 | €1,855 | -€36,458 | -95.2% |
| Gross operating margin | 9900 | €382,520 | €628,020 | +€245,500 | +64.2% |
| Operating profit (loss) | 9901 | €329,922 | €582,630 | +€252,708 | +76.6% |
| Financial income | 75/76B | - | €47,153 | +€47,153 | |
| Recurring financial income | 75 | - | €47,153 | +€47,153 | |
| Financial charges | 65/66B | €3,691 | €3,102 | -€588 | -15.9% |
| Recurring financial charges | 65 | €3,691 | €3,102 | -€588 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €326,232 | €626,681 | +€300,449 | +92.1% |
| Income taxes | 67/77 | €91,200 | €184,555 | +€93,355 | +102% |
| Profit (loss) for the period | 9904 | €235,032 | €442,126 | +€207,094 | +88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €235,032 | €442,126 | +€207,094 | +88.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.