MO ACTIVITIES: 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.
MO ACTIVITIES
Largest movements
- Cash +€1.3m
up €1.3m (+98.3%), from €1.4m to €2.7m
mainly Receivables after one year (+€1.1m) and Net result for the year (+€829,040)
- Receivables after one year -€1.1m
down €1.1m (-100.0%), from €1.1m to €0
- Receivables within one year -€72,177
down €72,177 (-70.1%), from €102,970 to €30,794
of which Trade receivables: -€45,005
- Deferred charges and accrued income -€66,803
down €66,803 (-80.3%), from €83,207 to €16,404
- Profit (loss) carried forward +€829,040
up €829,040 (+55.5%), from €1.5m to €2.3m
- Reserves -€754,792
down €754,792 (-60.5%), from €1.2m to €492,812
of which Distributable reserves: -€754,792
- Trade debts +€251,907
up €251,907 (+317.7%), from €79,289 to €331,195
- Other debts -€184,696
down €184,696 (-96.4%), from €191,610 to €6,914
- Gross operating margin -€22,451
down €22,451 (-1.4%), from €1.6m to €1.5m
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.
Cash bridge derived
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 | €3,158,488 | €3,311,636 | +€153,148 | +4.8% |
| Fixed assets | 21/28 | €459,337 | €463,175 | +€3,837 | +0.8% |
| Intangible fixed assets | 21 | €1,448 | €0 | -€1,448 | -100.0% |
| Tangible fixed assets | 22/27 | €406,658 | €411,944 | +€5,285 | +1.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €121,530 | €209,656 | +€88,126 | +72.5% |
| Furniture and vehicles | 24 | €3,592 | €3,716 | +€124 | +3.4% |
| Other tangible fixed assets | 26 | €281,536 | €198,572 | -€82,964 | -29.5% |
| Financial fixed assets | 28 | €51,231 | €51,231 | = | 0.0% |
| Current assets | 29/58 | €2,699,151 | €2,848,461 | +€149,310 | +5.5% |
| Amounts receivable after more than one year | 29 | €1,058,976 | €0 | -€1.1m | -100.0% |
| Other amounts receivable | 291 | €1,058,976 | €0 | -€1.1m | -100.0% |
| Amounts receivable within one year | 40/41 | €102,970 | €30,794 | -€72,177 | -70.1% |
| Trade receivables | 40 | €70,989 | €25,984 | -€45,005 | -63.4% |
| Other amounts receivable | 41 | €31,981 | €4,809 | -€27,172 | -85.0% |
| Current investments | 50/53 | €84,822 | €85,714 | +€892 | +1.1% |
| Cash at bank and in hand | 54/58 | €1,369,176 | €2,715,550 | +€1.3m | +98.3% |
| Deferred charges and accrued income | 490/1 | €83,207 | €16,404 | -€66,803 | -80.3% |
| Total equity and liabilities | 10/49 | €3,158,488 | €3,311,636 | +€153,148 | +4.8% |
| Equity | 10/15 | €2,753,051 | €2,827,300 | +€74,248 | +2.7% |
| Contributions | 10/11 | €11,875 | €11,875 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €1,247,604 | €492,812 | -€754,792 | -60.5% |
| Non-distributable reserves | 130/1 | €1,187 | €1,187 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,187 | €1,187 | = | 0.0% |
| Distributable reserves | 133 | €1,246,416 | €491,625 | -€754,792 | -60.6% |
| Profit (loss) carried forward | 14 | €1,493,573 | €2,322,613 | +€829,040 | +55.5% |
| Amounts payable | 17/49 | €405,437 | €484,336 | +€78,899 | +19.5% |
| Amounts payable within one year | 42/48 | €405,065 | €483,965 | +€78,899 | +19.5% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €79,289 | €331,195 | +€251,907 | +317.7% |
| Suppliers | 440/4 | €79,289 | €331,195 | +€251,907 | +317.7% |
| Taxes, remuneration and social security | 45 | €134,167 | €145,855 | +€11,689 | +8.7% |
| Taxes | 450/3 | €98,536 | €116,399 | +€17,863 | +18.1% |
| Remuneration and social security | 454/9 | €35,630 | €29,456 | -€6,174 | -17.3% |
| Other amounts payable | 47/48 | €191,610 | €6,914 | -€184,696 | -96.4% |
| Accrued charges and deferred income | 492/3 | €372 | €372 | = | 0.0% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €295,245 | €306,212 | +€10,967 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,236 | €139,640 | +€404 | +0.3% |
| Other operating charges | 640/8 | €2,122 | €2,324 | +€202 | +9.5% |
| Gross operating margin | 9900 | €1,557,974 | €1,535,523 | -€22,451 | -1.4% |
| Operating profit (loss) | 9901 | €1,121,371 | €1,087,348 | -€34,023 | -3.0% |
| Financial income | 75/76B | €22,059 | €27,140 | +€5,081 | +23.0% |
| Recurring financial income | 75 | €22,059 | €27,140 | +€5,081 | +23.0% |
| Financial charges | 65/66B | €3,395 | €7,816 | +€4,421 | +130.2% |
| Recurring financial charges | 65 | €3,395 | €7,816 | +€4,421 | +130.2% |
| Profit (loss) for the period before taxes | 9903 | €1,140,035 | €1,106,672 | -€33,363 | -2.9% |
| Income taxes | 67/77 | €288,335 | €277,632 | -€10,703 | -3.7% |
| Profit (loss) for the period | 9904 | €851,700 | €829,040 | -€22,660 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €851,700 | €829,040 | -€22,660 | -2.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.