MOENS: 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.
MOENS
Largest movements
- Receivables within one year -€254,859
down €254,859 (-19.0%), from €1.3m to €1.1m
of which Trade receivables: -€160,071
- Stocks and contracts -€154,402
down €154,402 (-19.8%), from €780,914 to €626,512
of which Contracts in progress: -€149,881
- Cash +€70,901
up €70,901 (+245.4%), from €28,894 to €99,795
mainly Receivables within one year (+€254,859) and Stocks and contracts (+€154,402)
- Tangible fixed assets -€45,861
down €45,861 (-23.0%), from €199,135 to €153,273
- Trade debts -€404,520
down €404,520 (-37.7%), from €1.1m to €667,842
- Other debts -€120,211
down €120,211 (-100.0%), from €120,211 to €0
- Short-term financial debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward +€75,874
up €75,874 (+12.9%), from -€589,976 to -€514,102
- Debts after one year -€32,234
down €32,234 (-32.2%), from €99,962 to €67,727
- Gross operating margin +€155,733
up €155,733 (+8.5%), from €1.8m to €2.0m
- Staff costs +€111,293
up €111,293 (+6.6%), from €1.7m to €1.8m
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 | €2,395,993 | €2,024,750 | -€371,243 | -15.5% |
| Fixed assets | 21/28 | €201,869 | €156,894 | -€44,975 | -22.3% |
| Intangible fixed assets | 21 | €2,341 | €1,679 | -€662 | -28.3% |
| Tangible fixed assets | 22/27 | €199,135 | €153,273 | -€45,861 | -23.0% |
| Plant, machinery and equipment | 23 | €29,972 | €24,037 | -€5,935 | -19.8% |
| Furniture and vehicles | 24 | €65,529 | €53,521 | -€12,008 | -18.3% |
| Leasing and similar rights | 25 | €89,340 | €67,069 | -€22,271 | -24.9% |
| Other tangible fixed assets | 26 | €14,294 | €8,646 | -€5,648 | -39.5% |
| Financial fixed assets | 28 | €393 | €1,941 | +€1,548 | +393.4% |
| Current assets | 29/58 | €2,194,124 | €1,867,856 | -€326,267 | -14.9% |
| Stocks and contracts in progress | 3 | €780,914 | €626,512 | -€154,402 | -19.8% |
| Stocks | 30/36 | €503,977 | €499,456 | -€4,521 | -0.9% |
| Contracts in progress | 37 | €276,937 | €127,056 | -€149,881 | -54.1% |
| Amounts receivable within one year | 40/41 | €1,341,860 | €1,087,001 | -€254,859 | -19.0% |
| Trade receivables | 40 | €1,182,201 | €1,022,129 | -€160,071 | -13.5% |
| Other amounts receivable | 41 | €159,659 | €64,872 | -€94,788 | -59.4% |
| Cash at bank and in hand | 54/58 | €28,894 | €99,795 | +€70,901 | +245.4% |
| Deferred charges and accrued income | 490/1 | €42,456 | €54,548 | +€12,092 | +28.5% |
| Total equity and liabilities | 10/49 | €2,395,993 | €2,024,750 | -€371,243 | -15.5% |
| Equity | 10/15 | €951,213 | €1,027,088 | +€75,874 | +8.0% |
| Contributions | 10/11 | €1,473,642 | €1,473,642 | = | 0.0% |
| Reserves | 13 | €67,547 | €67,547 | = | 0.0% |
| Distributable reserves | 133 | €67,547 | €67,547 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€589,976 | -€514,102 | +€75,874 | +12.9% |
| Amounts payable | 17/49 | €1,444,780 | €997,663 | -€447,117 | -30.9% |
| Amounts payable after more than one year | 17 | €99,962 | €67,727 | -€32,234 | -32.2% |
| Financial debts | 170/4 | €99,962 | €67,727 | -€32,234 | -32.2% |
| Amounts payable within one year | 42/48 | €1,339,318 | €923,191 | -€416,126 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €30,619 | €32,234 | +€1,616 | +5.3% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €1,072,362 | €667,842 | -€404,520 | -37.7% |
| Suppliers | 440/4 | €1,072,362 | €667,842 | -€404,520 | -37.7% |
| Taxes, remuneration and social security | 45 | €116,126 | €123,115 | +€6,989 | +6.0% |
| Taxes | 450/3 | €2,174 | €1,568 | -€605 | -27.9% |
| Remuneration and social security | 454/9 | €113,952 | €121,547 | +€7,594 | +6.7% |
| Other amounts payable | 47/48 | €120,211 | €0 | -€120,211 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,500 | €6,744 | +€1,244 | +22.6% |
| Remuneration, social security and pensions | 62 | €1,696,413 | €1,807,706 | +€111,293 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,525 | €61,734 | +€9,209 | +17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,187 | -€5,110 | +€4,077 | +44.4% |
| Other operating charges | 640/8 | €19,464 | €16,961 | -€2,503 | -12.9% |
| Gross operating margin | 9900 | €1,839,778 | €1,995,511 | +€155,733 | +8.5% |
| Operating profit (loss) | 9901 | €80,564 | €114,221 | +€33,657 | +41.8% |
| Financial income | 75/76B | €1,578 | €1,255 | -€324 | -20.5% |
| Recurring financial income | 75 | €1,578 | €1,255 | -€324 | -20.5% |
| Financial charges | 65/66B | €37,721 | €38,265 | +€544 | +1.4% |
| Recurring financial charges | 65 | €37,721 | €38,265 | +€544 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €44,421 | €77,210 | +€32,789 | +73.8% |
| Income taxes | 67/77 | €1,578 | €1,336 | -€242 | -15.4% |
| Profit (loss) for the period | 9904 | €42,843 | €75,874 | +€33,031 | +77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,843 | €75,874 | +€33,031 | +77.1% |
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.