MOERINVEST: 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.
MOERINVEST
Largest movements
- Cash -€128,334
down €128,334 (-38.5%), from €332,933 to €204,599
mainly Trade debts (-€102,674) and Other debts (-€50,694)
- Trade debts -€102,674
down €102,674 (-98.5%), from €104,211 to €1,537
- Other debts -€50,694
down €50,694 (-6.3%), from €799,083 to €748,389
- Gross operating margin +€140,396
up €140,396, from -€113,406 to €26,990
- Other operating charges +€23,869
up €23,869 (+2,842%), from €840 to €24,709
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 | €4,792,982 | €4,635,207 | -€157,776 | -3.3% |
| Fixed assets | 21/28 | €4,285,635 | €4,284,349 | -€1,286 | 0.0% |
| Tangible fixed assets | 22/27 | €545,635 | €544,349 | -€1,286 | -0.2% |
| Land and buildings | 22 | €542,000 | €542,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,635 | €2,349 | -€1,286 | -35.4% |
| Financial fixed assets | 28 | €3,740,000 | €3,740,000 | = | 0.0% |
| Current assets | 29/58 | €507,347 | €350,857 | -€156,490 | -30.8% |
| Amounts receivable within one year | 40/41 | €174,414 | €146,008 | -€28,406 | -16.3% |
| Trade receivables | 40 | €103,888 | €89,845 | -€14,043 | -13.5% |
| Other amounts receivable | 41 | €70,527 | €56,163 | -€14,363 | -20.4% |
| Cash at bank and in hand | 54/58 | €332,933 | €204,599 | -€128,334 | -38.5% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €4,792,982 | €4,635,207 | -€157,776 | -3.3% |
| Equity | 10/15 | €1,321,072 | €1,321,841 | +€769 | +0.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €6,413 | €6,413 | = | 0.0% |
| Distributable reserves | 133 | €6,413 | €6,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | €314,659 | €315,428 | +€769 | +0.2% |
| Amounts payable | 17/49 | €3,471,910 | €3,313,366 | -€158,544 | -4.6% |
| Amounts payable after more than one year | 17 | €2,562,365 | €2,562,365 | = | 0.0% |
| Financial debts | 170/4 | €2,562,365 | €2,562,365 | = | 0.0% |
| Amounts payable within one year | 42/48 | €903,294 | €749,947 | -€153,347 | -17.0% |
| Trade debts | 44 | €104,211 | €1,537 | -€102,674 | -98.5% |
| Suppliers | 440/4 | €104,211 | €1,537 | -€102,674 | -98.5% |
| Taxes, remuneration and social security | 45 | - | €21 | +€21 | |
| Taxes | 450/3 | - | €21 | +€21 | |
| Other amounts payable | 47/48 | €799,083 | €748,389 | -€50,694 | -6.3% |
| Accrued charges and deferred income | 492/3 | €6,251 | €1,054 | -€5,197 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,306 | €1,286 | -€20 | -1.5% |
| Other operating charges | 640/8 | €840 | €24,709 | +€23,869 | +2,842% |
| Gross operating margin | 9900 | -€113,406 | €26,990 | +€140,396 | |
| Operating profit (loss) | 9901 | -€115,552 | €995 | +€116,548 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €180 | €206 | +€26 | +14.7% |
| Recurring financial charges | 65 | €180 | €206 | +€26 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€115,732 | €789 | +€116,521 | |
| Income taxes | 67/77 | - | €21 | +€21 | |
| Profit (loss) for the period | 9904 | -€115,732 | €769 | +€116,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€115,732 | €769 | +€116,501 |
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 28 October 2026 via checked.be.