Moenaert: 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.
Moenaert
Largest movements
- Tangible fixed assets -€41,892
down €41,892 (-17.1%), from €244,921 to €203,029
of which Furniture and vehicles: -€43,239
- Cash +€39,079
up €39,079 (+11.7%), from €334,556 to €373,635
mainly Net result for the year (+€104,413) and Depreciation (+€56,116)
- Receivables within one year +€15,309
up €15,309 (+27.0%), from €56,669 to €71,978
of which Trade receivables: +€20,012
- Other debts +€35,030
up €35,030 (+42.3%), from €82,729 to €117,759
- Debts after one year -€31,991
down €31,991 (-41.0%), from €77,952 to €45,961
- Trade debts +€16,067
up €16,067 (+291.8%), from €5,506 to €21,573
- Current portion of long-term debt -€13,438
down €13,438 (-29.6%), from €45,430 to €31,991
- Tax, wage and social debts +€9,438
up €9,438 (+76.9%), from €12,273 to €21,710
of which Taxes: +€5,115
- Gross operating margin +€46,655
up €46,655 (+21.6%), from €215,807 to €262,462
- Staff costs +€10,019
up €10,019 (+20.3%), from €49,411 to €59,430
- Taxes +€8,679
up €8,679 (+28.8%), from €30,126 to €38,805
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 | €822,267 | €835,608 | +€13,341 | +1.6% |
| Fixed assets | 21/28 | €245,056 | €203,164 | -€41,892 | -17.1% |
| Tangible fixed assets | 22/27 | €244,921 | €203,029 | -€41,892 | -17.1% |
| Land and buildings | 22 | €44,000 | €44,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €44,306 | €31,902 | -€12,404 | -28.0% |
| Furniture and vehicles | 24 | €156,277 | €113,038 | -€43,239 | -27.7% |
| Other tangible fixed assets | 26 | €339 | €14,090 | +€13,751 | +4059.2% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €577,211 | €632,444 | +€55,233 | +9.6% |
| Stocks and contracts in progress | 3 | €13,541 | €12,130 | -€1,411 | -10.4% |
| Stocks | 30/36 | €13,541 | €12,130 | -€1,411 | -10.4% |
| Amounts receivable within one year | 40/41 | €56,669 | €71,978 | +€15,309 | +27.0% |
| Trade receivables | 40 | €40,840 | €60,852 | +€20,012 | +49.0% |
| Other amounts receivable | 41 | €15,829 | €11,126 | -€4,703 | -29.7% |
| Current investments | 50/53 | €164,845 | €167,845 | +€3,000 | +1.8% |
| Cash at bank and in hand | 54/58 | €334,556 | €373,635 | +€39,079 | +11.7% |
| Deferred charges and accrued income | 490/1 | €7,600 | €6,856 | -€745 | -9.8% |
| Total equity and liabilities | 10/49 | €822,267 | €835,608 | +€13,341 | +1.6% |
| Equity | 10/15 | €598,378 | €595,812 | -€2,566 | -0.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €569,378 | €566,812 | -€2,566 | -0.5% |
| Distributable reserves | 133 | €569,378 | €566,812 | -€2,566 | -0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €223,889 | €239,796 | +€15,908 | +7.1% |
| Amounts payable after more than one year | 17 | €77,952 | €45,961 | -€31,991 | -41.0% |
| Financial debts | 170/4 | €77,952 | €45,961 | -€31,991 | -41.0% |
| Amounts payable within one year | 42/48 | €145,937 | €193,033 | +€47,097 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €45,430 | €31,991 | -€13,438 | -29.6% |
| Trade debts | 44 | €5,506 | €21,573 | +€16,067 | +291.8% |
| Suppliers | 440/4 | €5,506 | €21,573 | +€16,067 | +291.8% |
| Taxes, remuneration and social security | 45 | €12,273 | €21,710 | +€9,438 | +76.9% |
| Taxes | 450/3 | €8,802 | €13,917 | +€5,115 | +58.1% |
| Remuneration and social security | 454/9 | €3,471 | €7,793 | +€4,323 | +124.5% |
| Other amounts payable | 47/48 | €82,729 | €117,759 | +€35,030 | +42.3% |
| Accrued charges and deferred income | 492/3 | - | €802 | +€802 | |
| Non-recurring operating income | 76A | €15,000 | €0 | -€15,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €49,411 | €59,430 | +€10,019 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,256 | €56,116 | +€860 | +1.6% |
| Other operating charges | 640/8 | €2,220 | €2,497 | +€277 | +12.5% |
| Gross operating margin | 9900 | €215,807 | €262,462 | +€46,655 | +21.6% |
| Operating profit (loss) | 9901 | €108,919 | €144,419 | +€35,500 | +32.6% |
| Financial income | 75/76B | €6,008 | €6,327 | +€320 | +5.3% |
| Recurring financial income | 75 | €6,008 | €6,327 | +€320 | +5.3% |
| Financial charges | 65/66B | €7,827 | €7,529 | -€298 | -3.8% |
| Recurring financial charges | 65 | €7,827 | €7,529 | -€298 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €107,100 | €143,218 | +€36,117 | +33.7% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €30,126 | €38,805 | +€8,679 | +28.8% |
| Profit (loss) for the period | 9904 | €76,974 | €104,413 | +€27,439 | +35.6% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €76,974 | €104,413 | +€27,439 | +35.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.