MO & SA: 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 & SA
Largest movements
- Stocks and contracts -€1,975
down €1,975 (-16.1%), from €12,287 to €10,312
- Cash -€738
down €738 (-16.4%), from €4,512 to €3,773
mainly Other debts (-€4,735) and Trade debts (-€1,040)
- Other debts -€4,735
down €4,735 (-44.6%), from €10,619 to €5,884
- Tax, wage and social debts +€2,020
up €2,020 (+77.7%), from €2,600 to €4,620
of which Remuneration and social security: +€1,754
- Trade debts -€1,040
down €1,040 (-30.0%), from €3,471 to €2,431
- Profit (loss) carried forward +€926
up €926 (+19.4%), from -€4,775 to -€3,849
- Gross operating margin +€1,827
up €1,827, from -€346 to €1,481
- Other operating charges +€464
new in 2025: €464
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 | €16,914 | €14,085 | -€2,829 | -16.7% |
| Current assets | 29/58 | €16,914 | €14,085 | -€2,829 | -16.7% |
| Stocks and contracts in progress | 3 | €12,287 | €10,312 | -€1,975 | -16.1% |
| Stocks | 30/36 | €12,287 | €10,312 | -€1,975 | -16.1% |
| Amounts receivable within one year | 40/41 | €115 | - | -€115 | |
| Other amounts receivable | 41 | €115 | - | -€115 | |
| Cash at bank and in hand | 54/58 | €4,512 | €3,773 | -€738 | -16.4% |
| Total equity and liabilities | 10/49 | €16,914 | €14,085 | -€2,829 | -16.7% |
| Equity | 10/15 | €225 | €1,151 | +€926 | +412.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,775 | -€3,849 | +€926 | +19.4% |
| Amounts payable | 17/49 | €16,689 | €12,934 | -€3,755 | -22.5% |
| Amounts payable within one year | 42/48 | €16,689 | €12,934 | -€3,755 | -22.5% |
| Trade debts | 44 | €3,471 | €2,431 | -€1,040 | -30.0% |
| Suppliers | 440/4 | €3,471 | €2,431 | -€1,040 | -30.0% |
| Taxes, remuneration and social security | 45 | €2,600 | €4,620 | +€2,020 | +77.7% |
| Taxes | 450/3 | - | €266 | +€266 | |
| Remuneration and social security | 454/9 | €2,600 | €4,354 | +€1,754 | +67.5% |
| Other amounts payable | 47/48 | €10,619 | €5,884 | -€4,735 | -44.6% |
| Other operating charges | 640/8 | - | €464 | +€464 | |
| Gross operating margin | 9900 | -€346 | €1,481 | +€1,827 | |
| Operating profit (loss) | 9901 | -€346 | €1,017 | +€1,362 | |
| Financial charges | 65/66B | €89 | €90 | +€1 | +1.1% |
| Recurring financial charges | 65 | €89 | €90 | +€1 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | -€435 | €926 | +€1,361 | |
| Profit (loss) for the period | 9904 | -€435 | €926 | +€1,361 | |
| Profit (loss) for the period to be appropriated | 9905 | -€435 | €926 | +€1,361 |
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.