MOELES: 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.
MOELES
Largest movements
- Current investments +€10,799
new in 2025: €10,799
- Receivables within one year +€10,411
new in 2025: €10,411
- Cash +€7,433
up €7,433 (+18.6%), from €39,886 to €47,319
mainly Net result for the year (+€15,147) and Other debts (+€8,208)
- Profit (loss) carried forward +€15,147
up €15,147 (+80.7%), from €18,759 to €33,906
- Other debts +€8,208
up €8,208 (+90.2%), from €9,098 to €17,306
- Accrued charges and deferred income +€3,662
new in 2025: €3,662
- Trade debts +€1,434
new in 2025: €1,434
- Gross operating margin -€4,762
down €4,762 (-15.3%), from €31,151 to €26,388
- Taxes -€2,539
down €2,539 (-35.3%), from €7,182 to €4,643
- Other operating charges +€1,731
up €1,731 (+45.5%), from €3,803 to €5,533
- Depreciation -€1,382
no longer reported in 2025 (was €1,382)
- Financial charges +€1,221
up €1,221 (+4,820%), from €25 to €1,246
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 | €40,046 | €68,786 | +€28,740 | +71.8% |
| Current assets | 29/58 | €40,046 | €68,786 | +€28,740 | +71.8% |
| Amounts receivable within one year | 40/41 | - | €10,411 | +€10,411 | |
| Other amounts receivable | 41 | - | €10,411 | +€10,411 | |
| Current investments | 50/53 | - | €10,799 | +€10,799 | |
| Cash at bank and in hand | 54/58 | €39,886 | €47,319 | +€7,433 | +18.6% |
| Deferred charges and accrued income | 490/1 | €160 | €256 | +€96 | +60.1% |
| Total equity and liabilities | 10/49 | €40,046 | €68,786 | +€28,740 | +71.8% |
| Equity | 10/15 | €23,759 | €38,906 | +€15,147 | +63.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,759 | €33,906 | +€15,147 | +80.7% |
| Amounts payable | 17/49 | €16,287 | €29,880 | +€13,593 | +83.5% |
| Amounts payable within one year | 42/48 | €16,287 | €26,218 | +€9,931 | +61.0% |
| Trade debts | 44 | - | €1,434 | +€1,434 | |
| Suppliers | 440/4 | - | €1,434 | +€1,434 | |
| Taxes, remuneration and social security | 45 | €7,189 | €7,478 | +€288 | +4.0% |
| Taxes | 450/3 | €7,189 | €7,478 | +€288 | +4.0% |
| Other amounts payable | 47/48 | €9,098 | €17,306 | +€8,208 | +90.2% |
| Accrued charges and deferred income | 492/3 | - | €3,662 | +€3,662 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,382 | - | -€1,382 | |
| Other operating charges | 640/8 | €3,803 | €5,533 | +€1,731 | +45.5% |
| Gross operating margin | 9900 | €31,151 | €26,388 | -€4,762 | -15.3% |
| Operating profit (loss) | 9901 | €25,966 | €20,855 | -€5,111 | -19.7% |
| Financial income | 75/76B | - | €181 | +€181 | |
| Recurring financial income | 75 | - | €181 | +€181 | |
| Financial charges | 65/66B | €25 | €1,246 | +€1,221 | +4,820% |
| Recurring financial charges | 65 | €25 | €1,246 | +€1,221 | +4,820% |
| Profit (loss) for the period before taxes | 9903 | €25,941 | €19,790 | -€6,151 | -23.7% |
| Income taxes | 67/77 | €7,182 | €4,643 | -€2,539 | -35.3% |
| Profit (loss) for the period | 9904 | €18,759 | €15,147 | -€3,612 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,759 | €15,147 | -€3,612 | -19.3% |
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 14 October 2026 via checked.be.