MO INVEST: 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.
MO INVEST
Largest movements
- Financial fixed assets +€440,382
up €440,382 (+142%), from €310,000 to €750,382
- Cash +€30,020
up €30,020 (+134%), from €22,465 to €52,485
mainly Other debts (+€639,800) and Net result for the year (+€33,562)
- Receivables within one year +€29,357
up €29,357 (+74.0%), from €39,651 to €69,008
of which Trade receivables: +€64,507
- Tangible fixed assets -€13,782
down €13,782 (-9.4%), from €146,227 to €132,445
of which Land and buildings: -€12,271
- Other debts +€639,800
up €639,800 (+28,537%), from €2,242 to €642,042
- Debts after one year -€189,455
down €189,455 (-100%), from €189,455 to €0
- Reserves +€33,562
up €33,562 (+15.5%), from €216,488 to €250,050
of which Distributable reserves: +€33,562
- Trade debts -€20,019
down €20,019 (-87.2%), from €22,955 to €2,936
- Tax, wage and social debts +€15,324
up €15,324 (+61.2%), from €25,049 to €40,373
- Gross operating margin +€84,372
up €84,372 (+102%), from €82,415 to €166,787
- Financial charges -€3,461
down €3,461 (-40.1%), from €8,638 to €5,177
- Depreciation +€3,297
up €3,297 (+31.4%), from €10,486 to €13,782
- Financial income -€2,886
down €2,886 (-99.3%), from €2,905 to €19
- Other operating charges -€2,559
down €2,559 (-37.9%), from €6,760 to €4,201
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €520,479 | €1,008,492 | +€488,013 | +93.8% |
| Fixed assets | 21/28 | €456,227 | €882,827 | +€426,600 | +93.5% |
| Tangible fixed assets | 22/27 | €146,227 | €132,445 | -€13,782 | -9.4% |
| Land and buildings | 22 | €139,311 | €127,040 | -€12,271 | -8.8% |
| Furniture and vehicles | 24 | €6,917 | €5,405 | -€1,512 | -21.9% |
| Financial fixed assets | 28 | €310,000 | €750,382 | +€440,382 | +142% |
| Current assets | 29/58 | €64,252 | €125,665 | +€61,414 | +95.6% |
| Amounts receivable within one year | 40/41 | €39,651 | €69,008 | +€29,357 | +74.0% |
| Trade receivables | 40 | - | €64,507 | +€64,507 | |
| Other amounts receivable | 41 | €39,651 | €4,501 | -€35,150 | -88.6% |
| Cash at bank and in hand | 54/58 | €22,465 | €52,485 | +€30,020 | +134% |
| Deferred charges and accrued income | 490/1 | €2,135 | €4,172 | +€2,037 | +95.4% |
| Total equity and liabilities | 10/49 | €520,479 | €1,008,492 | +€488,013 | +93.8% |
| Equity | 10/15 | €278,488 | €312,050 | +€33,562 | +12.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €216,488 | €250,050 | +€33,562 | +15.5% |
| Non-distributable reserves | 130/1 | €3,147 | €3,147 | = | 0.0% |
| Legal reserve | 130 | €3,147 | €3,147 | = | 0.0% |
| Distributable reserves | 133 | €213,341 | €246,903 | +€33,562 | +15.7% |
| Amounts payable | 17/49 | €241,990 | €696,442 | +€454,451 | +188% |
| Amounts payable after more than one year | 17 | €189,455 | €0 | -€189,455 | -100% |
| Financial debts | 170/4 | €189,455 | €0 | -€189,455 | -100% |
| Amounts payable within one year | 42/48 | €52,536 | €686,742 | +€634,206 | +1,207% |
| Financial debts | 43 | €2,290 | €1,391 | -€898 | -39.2% |
| Credit institutions | 430/8 | €2,290 | €1,391 | -€898 | -39.2% |
| Trade debts | 44 | €22,955 | €2,936 | -€20,019 | -87.2% |
| Suppliers | 440/4 | €22,955 | €2,936 | -€20,019 | -87.2% |
| Taxes, remuneration and social security | 45 | €25,049 | €40,373 | +€15,324 | +61.2% |
| Taxes | 450/3 | €25,049 | €40,373 | +€15,324 | +61.2% |
| Other amounts payable | 47/48 | €2,242 | €642,042 | +€639,800 | +28,537% |
| Accrued charges and deferred income | 492/3 | - | €9,700 | +€9,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,486 | €13,782 | +€3,297 | +31.4% |
| Other operating charges | 640/8 | €6,760 | €4,201 | -€2,559 | -37.9% |
| Non-recurring operating charges | 66A | €9,204 | €91,460 | +€82,256 | +894% |
| Gross operating margin | 9900 | €82,415 | €166,787 | +€84,372 | +102% |
| Operating profit (loss) | 9901 | €55,965 | €57,343 | +€1,379 | +2.5% |
| Financial income | 75/76B | €2,905 | €19 | -€2,886 | -99.3% |
| Recurring financial income | 75 | €2,905 | €19 | -€2,886 | -99.3% |
| Financial charges | 65/66B | €8,638 | €5,177 | -€3,461 | -40.1% |
| Recurring financial charges | 65 | €8,638 | €5,177 | -€3,461 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €50,232 | €52,186 | +€1,954 | +3.9% |
| Income taxes | 67/77 | €18,612 | €18,624 | +€12 | +0.1% |
| Profit (loss) for the period | 9904 | €31,621 | €33,562 | +€1,941 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,621 | €33,562 | +€1,941 | +6.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.