Moerasman: 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.
Moerasman
Largest movements
- Receivables within one year +€73,690
up €73,690 (+182.4%), from €40,404 to €114,094
of which Other amounts receivable: +€100,965
- Cash -€34,329
down €34,329 (-43.5%), from €78,827 to €44,498
mainly Receivables within one year (-€73,690) and Short-term financial debts (-€10,000)
- Tangible fixed assets -€2,101
down €2,101 (-8.4%), from €24,952 to €22,851
of which Plant, machinery and equipment: -€2,063
- Reserves +€44,196
up €44,196 (+48.2%), from €91,640 to €135,836
- Current portion of long-term debt +€10,000
up €10,000 (+100.0%), from €10,000 to €20,000
- Short-term financial debts -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Tax, wage and social debts -€7,621
down €7,621 (-26.0%), from €29,337 to €21,715
- Gross operating margin -€19,556
down €19,556 (-23.5%), from €83,339 to €63,783
- Taxes -€4,119
down €4,119 (-26.4%), from €15,621 to €11,502
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 | €147,212 | €184,382 | +€37,170 | +25.2% |
| Fixed assets | 21/28 | €25,631 | €23,330 | -€2,301 | -9.0% |
| Intangible fixed assets | 21 | €679 | €479 | -€200 | -29.5% |
| Tangible fixed assets | 22/27 | €24,952 | €22,851 | -€2,101 | -8.4% |
| Plant, machinery and equipment | 23 | €6,492 | €4,429 | -€2,063 | -31.8% |
| Furniture and vehicles | 24 | €18,460 | €18,422 | -€38 | -0.2% |
| Current assets | 29/58 | €121,581 | €161,052 | +€39,472 | +32.5% |
| Amounts receivable within one year | 40/41 | €40,404 | €114,094 | +€73,690 | +182.4% |
| Trade receivables | 40 | €40,404 | €13,129 | -€27,275 | -67.5% |
| Other amounts receivable | 41 | - | €100,965 | +€100,965 | |
| Cash at bank and in hand | 54/58 | €78,827 | €44,498 | -€34,329 | -43.5% |
| Deferred charges and accrued income | 490/1 | €2,350 | €2,460 | +€111 | +4.7% |
| Total equity and liabilities | 10/49 | €147,212 | €184,382 | +€37,170 | +25.2% |
| Equity | 10/15 | €94,640 | €138,836 | +€44,196 | +46.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €91,640 | €135,836 | +€44,196 | +48.2% |
| Distributable reserves | 133 | €91,640 | €135,836 | +€44,196 | +48.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €52,571 | €45,546 | -€7,025 | -13.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €52,518 | €44,992 | -€7,526 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €20,000 | +€10,000 | +100.0% |
| Financial debts | 43 | €10,000 | €0 | -€10,000 | -100.0% |
| Other loans | 439 | €10,000 | €0 | -€10,000 | -100.0% |
| Trade debts | 44 | €1,933 | €3,277 | +€1,344 | +69.5% |
| Suppliers | 440/4 | €1,933 | €3,277 | +€1,344 | +69.5% |
| Taxes, remuneration and social security | 45 | €29,337 | €21,715 | -€7,621 | -26.0% |
| Taxes | 450/3 | €29,337 | €21,715 | -€7,621 | -26.0% |
| Other amounts payable | 47/48 | €1,248 | €0 | -€1,248 | -100.0% |
| Accrued charges and deferred income | 492/3 | €53 | €554 | +€500 | +937.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,335 | €7,162 | +€827 | +13.1% |
| Other operating charges | 640/8 | €269 | €366 | +€97 | +36.2% |
| Gross operating margin | 9900 | €83,339 | €63,783 | -€19,556 | -23.5% |
| Operating profit (loss) | 9901 | €76,735 | €56,255 | -€20,480 | -26.7% |
| Financial income | 75/76B | €106 | €111 | +€5 | +4.6% |
| Recurring financial income | 75 | €106 | €111 | +€5 | +4.6% |
| Financial charges | 65/66B | €655 | €668 | +€13 | +2.0% |
| Recurring financial charges | 65 | €655 | €668 | +€13 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €76,187 | €55,698 | -€20,489 | -26.9% |
| Income taxes | 67/77 | €15,621 | €11,502 | -€4,119 | -26.4% |
| Profit (loss) for the period | 9904 | €60,565 | €44,196 | -€16,370 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,565 | €44,196 | -€16,370 | -27.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.