MOERNAUT: 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.
MOERNAUT
Largest movements
- Receivables within one year -€107,128
down €107,128 (-60.4%), from €177,400 to €70,272
of which Trade receivables: -€107,108
- Current investments +€100,000
up €100,000 (+9.5%), from €1.1m to €1.2m
- Cash +€26,548
up €26,548 (+160.4%), from €16,548 to €43,096
mainly Receivables within one year (+€107,128) and Net result for the year (+€67,971)
- Profit (loss) carried forward +€67,971
up €67,971 (+57.8%), from -€117,621 to -€49,650
- Other debts -€44,321
down €44,321 (-3.6%), from €1.2m to €1.2m
- Gross operating margin +€60,019
up €60,019 (+670.6%), from €8,951 to €68,969
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 | €1,245,419 | €1,265,812 | +€20,393 | +1.6% |
| Fixed assets | 21/28 | €1,470 | €680 | -€790 | -53.7% |
| Tangible fixed assets | 22/27 | €1,470 | €680 | -€790 | -53.7% |
| Land and buildings | 22 | €1,059 | €529 | -€529 | -50.0% |
| Furniture and vehicles | 24 | €412 | €151 | -€261 | -63.4% |
| Current assets | 29/58 | €1,243,948 | €1,265,132 | +€21,184 | +1.7% |
| Amounts receivable within one year | 40/41 | €177,400 | €70,272 | -€107,128 | -60.4% |
| Trade receivables | 40 | €177,381 | €70,272 | -€107,108 | -60.4% |
| Other amounts receivable | 41 | €19 | €0 | -€19 | -100.0% |
| Current investments | 50/53 | €1,050,000 | €1,150,000 | +€100,000 | +9.5% |
| Cash at bank and in hand | 54/58 | €16,548 | €43,096 | +€26,548 | +160.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,764 | +€1,764 | |
| Total equity and liabilities | 10/49 | €1,245,419 | €1,265,812 | +€20,393 | +1.6% |
| Equity | 10/15 | €6,805 | €74,776 | +€67,971 | +998.8% |
| Contributions | 10/11 | €89,842 | €89,842 | = | 0.0% |
| Reserves | 13 | €34,584 | €34,584 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €15,834 | €15,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,621 | -€49,650 | +€67,971 | +57.8% |
| Amounts payable | 17/49 | €1,238,614 | €1,191,036 | -€47,577 | -3.8% |
| Amounts payable within one year | 42/48 | €1,238,614 | €1,191,036 | -€47,577 | -3.8% |
| Trade debts | 44 | €11,824 | €5,209 | -€6,615 | -55.9% |
| Suppliers | 440/4 | €11,824 | €5,209 | -€6,615 | -55.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €3,358 | +€3,358 | |
| Taxes | 450/3 | €0 | €3,358 | +€3,358 | |
| Other amounts payable | 47/48 | €1,226,790 | €1,182,469 | -€44,321 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €790 | €790 | = | 0.0% |
| Other operating charges | 640/8 | €396 | €185 | -€211 | -53.2% |
| Gross operating margin | 9900 | €8,951 | €68,969 | +€60,019 | +670.6% |
| Operating profit (loss) | 9901 | €7,765 | €67,994 | +€60,229 | +775.7% |
| Financial income | 75/76B | €10 | €49 | +€39 | +394.3% |
| Recurring financial income | 75 | €10 | €49 | +€39 | +394.3% |
| Financial charges | 65/66B | €67 | €72 | +€5 | +7.3% |
| Recurring financial charges | 65 | €67 | €72 | +€5 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €7,707 | €67,971 | +€60,263 | +781.9% |
| Profit (loss) for the period | 9904 | €7,707 | €67,971 | +€60,263 | +781.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,707 | €67,971 | +€60,263 | +781.9% |
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.