MOERBEKO: 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.
What changed
MOERBEKO
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€380,180
2024 · €184,791+€195,389
Equity
-€1.8m
2024 · -€2.2m+€380,180
Cash
€24,914
2024 · €7,829+€17,085
Balance sheet total
€2.7m
2024 · €2.1m+€572,979
Largest movements
Assets
- Receivables within one year +€551,822
up €551,822 (+43.4%), from €1.3m to €1.8m
of which Trade receivables: +€546,526
Equity and liabilities
- Profit (loss) carried forward +€380,180
up €380,180 (+16.9%), from -€2.2m to -€1.9m
- Trade debts +€338,357
up €338,357 (+14.6%), from €2.3m to €2.7m
- Tax, wage and social debts -€83,885
down €83,885 (-30.0%), from €280,071 to €196,186
of which Remuneration and social security: -€71,292
- Debts after one year -€74,229
down €74,229 (-42.6%), from €174,229 to €100,000
of which Financial debts: -€74,229
- Other debts +€49,184
up €49,184 (+58.3%), from €84,338 to €133,522
Income statement
- Gross operating margin +€205,786
up €205,786 (+14.0%), from €1.5m to €1.7m
- Staff costs -€76,778
down €76,778 (-7.9%), from €968,273 to €891,495
- Financial charges +€47,391
up €47,391 (+52.2%), from €90,750 to €138,141
- Other operating charges +€20,181
up €20,181 (+56.8%), from €35,514 to €55,695
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.
Result 2024
€184,791
Gross operating margin
+€205,786
Staff costs
+€76,778
Depreciation
+€430
Write-downs
-€16,269
Other operating charges
-€20,181
Financial income
-€3,623
Financial charges
-€47,391
Taxes
-€141
Result 2025
€380,180
raises the resultlowers the result
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.
From operations
+€258,162
Investment
-€142,136
Financing
-€98,942
Cash 2024
€7,829
From operations (derived)
+€258,162
Net result for the year
+€380,180
Depreciation
+€166,443
Stocks and contracts
-€6,823
Receivables within one year
-€551,822
Deferred charges and accrued income
-€21,556
Trade debts
+€338,357
Tax, wage and social debts
-€83,885
Other debts
+€49,184
Accrued charges and deferred income
-€11,915
Investment (derived)
-€142,136
Investment in fixed assets (net)
-€141,395
Current investments
-€741
Financing
-€98,942
Debts after one year
-€74,229
Current portion of long-term debt
-€24,713
Cash 2025
€24,914
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,134,214 | €2,707,194 | +€572,979 | +26.8% |
| Fixed assets | 21/28 | €403,010 | €377,962 | -€25,048 | -6.2% |
| Tangible fixed assets | 22/27 | €394,267 | €369,220 | -€25,048 | -6.4% |
| Plant, machinery and equipment | 23 | €220,862 | €227,232 | +€6,370 | +2.9% |
| Furniture and vehicles | 24 | €1,000 | €63,488 | +€62,488 | +6,249% |
| Leasing and similar rights | 25 | €172,406 | €78,500 | -€93,905 | -54.5% |
| Financial fixed assets | 28 | €8,742 | €8,742 | = | 0.0% |
| Current assets | 29/58 | €1,731,205 | €2,329,232 | +€598,027 | +34.5% |
| Stocks and contracts in progress | 3 | €181,802 | €188,625 | +€6,823 | +3.8% |
| Stocks | 30/36 | €181,802 | €188,625 | +€6,823 | +3.8% |
| Amounts receivable within one year | 40/41 | €1,270,276 | €1,822,098 | +€551,822 | +43.4% |
| Trade receivables | 40 | €1,247,041 | €1,793,566 | +€546,526 | +43.8% |
| Other amounts receivable | 41 | €23,235 | €28,531 | +€5,296 | +22.8% |
| Current investments | 50/53 | €264,057 | €264,798 | +€741 | +0.3% |
| Cash at bank and in hand | 54/58 | €7,829 | €24,914 | +€17,085 | +218% |
| Deferred charges and accrued income | 490/1 | €7,241 | €28,797 | +€21,556 | +298% |
| Total equity and liabilities | 10/49 | €2,134,214 | €2,707,194 | +€572,979 | +26.8% |
| Equity | 10/15 | -€2,163,071 | -€1,782,891 | +€380,180 | +17.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,245,571 | -€1,865,391 | +€380,180 | +16.9% |
| Amounts payable | 17/49 | €4,297,285 | €4,490,085 | +€192,800 | +4.5% |
| Amounts payable after more than one year | 17 | €174,229 | €100,000 | -€74,229 | -42.6% |
| Financial debts | 170/4 | €74,229 | €0 | -€74,229 | -100% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,107,307 | €4,386,250 | +€278,943 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €171,111 | €146,398 | -€24,713 | -14.4% |
| Financial debts | 43 | €1,250,000 | €1,250,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,250,000 | €1,250,000 | = | 0.0% |
| Trade debts | 44 | €2,321,787 | €2,660,144 | +€338,357 | +14.6% |
| Suppliers | 440/4 | €2,321,787 | €2,660,144 | +€338,357 | +14.6% |
| Taxes, remuneration and social security | 45 | €280,071 | €196,186 | -€83,885 | -30.0% |
| Taxes | 450/3 | €46,568 | €33,975 | -€12,593 | -27.0% |
| Remuneration and social security | 454/9 | €233,504 | €162,211 | -€71,292 | -30.5% |
| Other amounts payable | 47/48 | €84,338 | €133,522 | +€49,184 | +58.3% |
| Accrued charges and deferred income | 492/3 | €15,750 | €3,835 | -€11,915 | -75.7% |
| Non-recurring operating income | 76A | €112,695 | €0 | -€112,695 | -100% |
| Remuneration, social security and pensions | 62 | €968,273 | €891,495 | -€76,778 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,873 | €166,443 | -€430 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,818 | €44,087 | +€16,269 | +58.5% |
| Other operating charges | 640/8 | €35,514 | €55,695 | +€20,181 | +56.8% |
| Gross operating margin | 9900 | €1,467,005 | €1,672,791 | +€205,786 | +14.0% |
| Operating profit (loss) | 9901 | €268,528 | €515,072 | +€246,543 | +91.8% |
| Financial income | 75/76B | €7,798 | €4,175 | -€3,623 | -46.5% |
| Recurring financial income | 75 | €7,798 | €4,175 | -€3,623 | -46.5% |
| Financial charges | 65/66B | €90,750 | €138,141 | +€47,391 | +52.2% |
| Recurring financial charges | 65 | €90,750 | €138,141 | +€47,391 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | €185,576 | €381,106 | +€195,530 | +105% |
| Income taxes | 67/77 | €785 | €926 | +€141 | +18.0% |
| Profit (loss) for the period | 9904 | €184,791 | €380,180 | +€195,389 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €184,791 | €380,180 | +€195,389 | +106% |
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 18 October 2026 via checked.be.