MOERMAN CONSTRUCT: 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.
MOERMAN CONSTRUCT
Largest movements
- Stocks and contracts -€533,853
down €533,853 (-64.7%), from €825,421 to €291,568
- Cash +€226,932
up €226,932 (+573%), from €39,629 to €266,561
mainly Stocks and contracts (+€533,853) and Net result for the year (+€157,983)
- Tangible fixed assets +€87,139
up €87,139 (+16.7%), from €520,991 to €608,130
of which Land and buildings: +€67,795
- Receivables within one year +€47,670
up €47,670 (+186%), from €25,604 to €73,274
of which Trade receivables: +€48,481
- Debts after one year -€441,066
down €441,066 (-37.8%), from €1.2m to €724,963
- Profit (loss) carried forward +€157,983
new in 2025: €157,983
- Tax, wage and social debts +€51,160
up €51,160 (+2,743%), from €1,865 to €53,026
- Other debts +€33,483
up €33,483 (+80.2%), from €41,769 to €75,252
- Trade debts +€25,118
up €25,118 (+44.9%), from €55,995 to €81,113
- Gross operating margin +€105,467
up €105,467 (+54.9%), from €191,975 to €297,442
- Taxes +€27,957
up €27,957 (+103%), from €27,274 to €55,231
- Financial charges +€19,565
up €19,565 (+49.7%), from €39,348 to €58,913
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 | €1,417,980 | €1,246,730 | -€171,250 | -12.1% |
| Fixed assets | 21/28 | €520,991 | €608,130 | +€87,139 | +16.7% |
| Tangible fixed assets | 22/27 | €520,991 | €608,130 | +€87,139 | +16.7% |
| Land and buildings | 22 | €517,323 | €585,118 | +€67,795 | +13.1% |
| Plant, machinery and equipment | 23 | €3,668 | €6,519 | +€2,850 | +77.7% |
| Furniture and vehicles | 24 | - | €16,493 | +€16,493 | |
| Current assets | 29/58 | €896,989 | €638,600 | -€258,388 | -28.8% |
| Stocks and contracts in progress | 3 | €825,421 | €291,568 | -€533,853 | -64.7% |
| Stocks | 30/36 | €825,421 | €291,568 | -€533,853 | -64.7% |
| Amounts receivable within one year | 40/41 | €25,604 | €73,274 | +€47,670 | +186% |
| Trade receivables | 40 | €7,140 | €55,621 | +€48,481 | +679% |
| Other amounts receivable | 41 | €18,464 | €17,653 | -€812 | -4.4% |
| Cash at bank and in hand | 54/58 | €39,629 | €266,561 | +€226,932 | +573% |
| Deferred charges and accrued income | 490/1 | €6,335 | €7,198 | +€863 | +13.6% |
| Total equity and liabilities | 10/49 | €1,417,980 | €1,246,730 | -€171,250 | -12.1% |
| Equity | 10/15 | €144,815 | €302,798 | +€157,983 | +109% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Reserves | 13 | €33,263 | €33,263 | = | 0.0% |
| Distributable reserves | 133 | €33,263 | €33,263 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €157,983 | +€157,983 | |
| Amounts payable | 17/49 | €1,273,165 | €943,932 | -€329,233 | -25.9% |
| Amounts payable after more than one year | 17 | €1,166,029 | €724,963 | -€441,066 | -37.8% |
| Financial debts | 170/4 | €1,166,029 | €724,963 | -€441,066 | -37.8% |
| Amounts payable within one year | 42/48 | €106,939 | €218,772 | +€111,833 | +105% |
| Current portion of amounts payable after more than one year | 42 | €7,308 | €9,380 | +€2,072 | +28.3% |
| Trade debts | 44 | €55,995 | €81,113 | +€25,118 | +44.9% |
| Suppliers | 440/4 | €55,995 | €81,113 | +€25,118 | +44.9% |
| Taxes, remuneration and social security | 45 | €1,865 | €53,026 | +€51,160 | +2,743% |
| Taxes | 450/3 | €1,865 | €53,026 | +€51,160 | +2,743% |
| Other amounts payable | 47/48 | €41,769 | €75,252 | +€33,483 | +80.2% |
| Accrued charges and deferred income | 492/3 | €198 | €198 | = | 0.0% |
| Non-recurring operating income | 76A | €109,790 | €150,047 | +€40,257 | +36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,064 | €21,070 | +€1,007 | +5.0% |
| Other operating charges | 640/8 | €1,320 | €2,293 | +€973 | +73.7% |
| Non-recurring operating charges | 66A | - | €2,443 | +€2,443 | |
| Gross operating margin | 9900 | €191,975 | €297,442 | +€105,467 | +54.9% |
| Operating profit (loss) | 9901 | €170,591 | €271,636 | +€101,045 | +59.2% |
| Financial income | 75/76B | €471 | €492 | +€21 | +4.5% |
| Recurring financial income | 75 | €471 | €492 | +€21 | +4.5% |
| Financial charges | 65/66B | €39,348 | €58,913 | +€19,565 | +49.7% |
| Recurring financial charges | 65 | €39,348 | €58,913 | +€19,565 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €131,714 | €213,214 | +€81,501 | +61.9% |
| Income taxes | 67/77 | €27,274 | €55,231 | +€27,957 | +103% |
| Profit (loss) for the period | 9904 | €104,439 | €157,983 | +€53,544 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €104,439 | €157,983 | +€53,544 | +51.3% |
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 25 October 2026 via checked.be.