MOERVAARTHOEVE: 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.
MOERVAARTHOEVE
Largest movements
- Cash +€43,961
up €43,961 (+34.7%), from €126,860 to €170,822
mainly Net result for the year (+€33,828) and Depreciation (+€12,425)
- Tangible fixed assets -€10,818
down €10,818 (-21.6%), from €50,013 to €39,195
- Stocks and contracts +€3,737
up €3,737 (+40.4%), from €9,242 to €12,978
- Receivables within one year -€2,283
down €2,283 (-88.0%), from €2,595 to €312
of which Other amounts receivable: -€2,283
- Reserves +€33,828
up €33,828 (+21.6%), from €156,294 to €190,123
- Taxes +€4,225
up €4,225 (+35.9%), from €11,785 to €16,010
- Gross operating margin -€3,444
down €3,444 (-4.9%), from €69,815 to €66,372
- Depreciation +€1,383
up €1,383 (+12.5%), from €11,041 to €12,425
- Financial charges -€832
down €832 (-20.3%), from €4,096 to €3,264
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 | €192,873 | €227,533 | +€34,660 | +18.0% |
| Fixed assets | 21/28 | €50,013 | €39,195 | -€10,818 | -21.6% |
| Tangible fixed assets | 22/27 | €50,013 | €39,195 | -€10,818 | -21.6% |
| Plant, machinery and equipment | 23 | €14,976 | €10,914 | -€4,062 | -27.1% |
| Furniture and vehicles | 24 | €5,743 | €3,206 | -€2,537 | -44.2% |
| Other tangible fixed assets | 26 | €29,294 | €25,075 | -€4,220 | -14.4% |
| Current assets | 29/58 | €142,860 | €188,338 | +€45,478 | +31.8% |
| Stocks and contracts in progress | 3 | €9,242 | €12,978 | +€3,737 | +40.4% |
| Stocks | 30/36 | €9,242 | €12,978 | +€3,737 | +40.4% |
| Amounts receivable within one year | 40/41 | €2,595 | €312 | -€2,283 | -88.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,595 | €312 | -€2,283 | -88.0% |
| Cash at bank and in hand | 54/58 | €126,860 | €170,822 | +€43,961 | +34.7% |
| Deferred charges and accrued income | 490/1 | €4,164 | €4,226 | +€62 | +1.5% |
| Total equity and liabilities | 10/49 | €192,873 | €227,533 | +€34,660 | +18.0% |
| Equity | 10/15 | €157,933 | €191,762 | +€33,828 | +21.4% |
| Contributions | 10/11 | €1,639 | €1,639 | = | 0.0% |
| Reserves | 13 | €156,294 | €190,123 | +€33,828 | +21.6% |
| Distributable reserves | 133 | €156,294 | €190,123 | +€33,828 | +21.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,940 | €35,771 | +€831 | +2.4% |
| Amounts payable within one year | 42/48 | €34,940 | €35,771 | +€831 | +2.4% |
| Trade debts | 44 | €5,610 | €5,934 | +€325 | +5.8% |
| Suppliers | 440/4 | €5,610 | €5,934 | +€325 | +5.8% |
| Taxes, remuneration and social security | 45 | €8,755 | €9,339 | +€584 | +6.7% |
| Taxes | 450/3 | €8,755 | €9,339 | +€584 | +6.7% |
| Other amounts payable | 47/48 | €20,575 | €20,497 | -€78 | -0.4% |
| Remuneration, social security and pensions | 62 | €49 | €71 | +€22 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,041 | €12,425 | +€1,383 | +12.5% |
| Other operating charges | 640/8 | €591 | €797 | +€206 | +34.9% |
| Gross operating margin | 9900 | €69,815 | €66,372 | -€3,444 | -4.9% |
| Operating profit (loss) | 9901 | €58,134 | €53,079 | -€5,055 | -8.7% |
| Financial income | 75/76B | €129 | €24 | -€106 | -81.7% |
| Recurring financial income | 75 | €129 | €24 | -€106 | -81.7% |
| Financial charges | 65/66B | €4,096 | €3,264 | -€832 | -20.3% |
| Recurring financial charges | 65 | €4,096 | €3,264 | -€832 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €54,167 | €49,838 | -€4,329 | -8.0% |
| Income taxes | 67/77 | €11,785 | €16,010 | +€4,225 | +35.9% |
| Profit (loss) for the period | 9904 | €42,382 | €33,828 | -€8,554 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,382 | €33,828 | -€8,554 | -20.2% |
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.