MOED & GEDULD: 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.
MOED & GEDULD
Largest movements
- Cash +€29,742
up €29,742 (+1206.2%), from €2,466 to €32,208
mainly Depreciation (+€16,645) and Tax, wage and social debts (+€11,344)
- Tangible fixed assets -€16,645
down €16,645 (-43.1%), from €38,649 to €22,005
of which Furniture and vehicles: -€12,063
- Receivables within one year -€7,220
down €7,220 (-25.4%), from €28,383 to €21,163
- Tax, wage and social debts +€11,344
up €11,344 (+425.4%), from €2,666 to €14,011
- Profit (loss) carried forward +€10,996
up €10,996 (+16.7%), from -€65,832 to -€54,836
- Debts after one year -€10,900
down €10,900 (-60.0%), from €18,177 to €7,277
- Other debts -€6,336
down €6,336 (-90.8%), from €6,980 to €644
- Trade debts +€923
up €923 (+27.4%), from €3,374 to €4,297
- Gross operating margin +€43,428
up €43,428, from -€13,996 to €29,432
- Depreciation -€674
down €674 (-3.9%), from €17,318 to €16,645
- Other operating charges +€558
up €558 (+79.5%), from €703 to €1,261
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 | €70,098 | €76,125 | +€6,028 | +8.6% |
| Fixed assets | 21/28 | €39,249 | €22,755 | -€16,495 | -42.0% |
| Tangible fixed assets | 22/27 | €38,649 | €22,005 | -€16,645 | -43.1% |
| Plant, machinery and equipment | 23 | €8,014 | €3,432 | -€4,582 | -57.2% |
| Furniture and vehicles | 24 | €30,635 | €18,572 | -€12,063 | -39.4% |
| Financial fixed assets | 28 | €600 | €750 | +€150 | +25.0% |
| Current assets | 29/58 | €30,848 | €53,371 | +€22,522 | +73.0% |
| Amounts receivable within one year | 40/41 | €28,383 | €21,163 | -€7,220 | -25.4% |
| Trade receivables | 40 | €28,383 | €21,163 | -€7,220 | -25.4% |
| Cash at bank and in hand | 54/58 | €2,466 | €32,208 | +€29,742 | +1206.2% |
| Total equity and liabilities | 10/49 | €70,098 | €76,125 | +€6,028 | +8.6% |
| Equity | 10/15 | €28,001 | €38,997 | +€10,996 | +39.3% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €80,833 | €80,833 | = | 0.0% |
| Distributable reserves | 133 | €80,833 | €80,833 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,832 | -€54,836 | +€10,996 | +16.7% |
| Amounts payable | 17/49 | €42,097 | €37,128 | -€4,968 | -11.8% |
| Amounts payable after more than one year | 17 | €18,177 | €7,277 | -€10,900 | -60.0% |
| Financial debts | 170/4 | €18,177 | €7,277 | -€10,900 | -60.0% |
| Amounts payable within one year | 42/48 | €23,920 | €29,851 | +€5,932 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €10,900 | €10,900 | = | 0.0% |
| Trade debts | 44 | €3,374 | €4,297 | +€923 | +27.4% |
| Suppliers | 440/4 | €3,374 | €4,297 | +€923 | +27.4% |
| Taxes, remuneration and social security | 45 | €2,666 | €14,011 | +€11,344 | +425.4% |
| Taxes | 450/3 | €2,666 | €14,011 | +€11,344 | +425.4% |
| Other amounts payable | 47/48 | €6,980 | €644 | -€6,336 | -90.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,318 | €16,645 | -€674 | -3.9% |
| Other operating charges | 640/8 | €703 | €1,261 | +€558 | +79.5% |
| Gross operating margin | 9900 | -€13,996 | €29,432 | +€43,428 | |
| Operating profit (loss) | 9901 | -€32,017 | €11,527 | +€43,544 | |
| Financial income | 75/76B | €59 | - | -€59 | |
| Recurring financial income | 75 | €59 | - | -€59 | |
| Financial charges | 65/66B | €207 | €268 | +€61 | +29.3% |
| Recurring financial charges | 65 | €207 | €268 | +€61 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,165 | €11,259 | +€43,424 | |
| Income taxes | 67/77 | €253 | €263 | +€10 | +3.9% |
| Profit (loss) for the period | 9904 | -€32,418 | €10,996 | +€43,414 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,418 | €10,996 | +€43,414 |
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 11 October 2026 via checked.be.