MOETIE: what changed
Two fiscal 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.
MOETIE
Largest movements
- Stocks and contracts +€451,350
up €451,350 (+340.0%), from €132,753 to €584,104
- Cash -€228,049
down €228,049 (-80.3%), from €283,826 to €55,776
mainly Stocks and contracts (-€451,350) and Contributions, distributions and other (-€149,621)
- Receivables within one year -€16,321
down €16,321 (-100.0%), from €16,321 to €0
- Debts after one year +€122,188
up €122,188 (+244.4%), from €50,000 to €172,188
- Reserves +€67,743
up €67,743 (+44.7%), from €151,481 to €219,224
of which Distributable reserves: +€67,743
- Tax, wage and social debts +€31,268
up €31,268 (+202.4%), from €15,447 to €46,715
- Other debts -€30,735
down €30,735 (-16.6%), from €185,172 to €154,437
- Trade debts +€10,573
up €10,573 (+41.2%), from €25,673 to €36,246
- Gross operating margin +€127,494
up €127,494 (+64.0%), from €199,158 to €326,653
- Taxes +€53,733
up €53,733 (+120.2%), from €44,697 to €98,430
- Financial charges +€3,299
up €3,299 (+85.1%), from €3,876 to €7,174
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 | €444,352 | €649,871 | +€205,519 | +46.3% |
| Fixed assets | 21/28 | €9,273 | €7,923 | -€1,350 | -14.6% |
| Tangible fixed assets | 22/27 | €9,273 | €7,923 | -€1,350 | -14.6% |
| Land and buildings | 22 | €2,691 | €1,153 | -€1,538 | -57.1% |
| Plant, machinery and equipment | 23 | €1,716 | €2,395 | +€680 | +39.6% |
| Other tangible fixed assets | 26 | €4,866 | €4,374 | -€492 | -10.1% |
| Current assets | 29/58 | €435,079 | €641,948 | +€206,869 | +47.5% |
| Stocks and contracts in progress | 3 | €132,753 | €584,104 | +€451,350 | +340.0% |
| Stocks | 30/36 | €132,753 | €584,104 | +€451,350 | +340.0% |
| Amounts receivable within one year | 40/41 | €16,321 | €0 | -€16,321 | -100.0% |
| Other amounts receivable | 41 | €16,321 | €0 | -€16,321 | -100.0% |
| Cash at bank and in hand | 54/58 | €283,826 | €55,776 | -€228,049 | -80.3% |
| Deferred charges and accrued income | 490/1 | €2,179 | €2,068 | -€111 | -5.1% |
| Total equity and liabilities | 10/49 | €444,352 | €649,871 | +€205,519 | +46.3% |
| Equity | 10/15 | €163,881 | €231,624 | +€67,743 | +41.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €151,481 | €219,224 | +€67,743 | +44.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €151,481 | €219,224 | +€67,743 | +44.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €280,471 | €418,247 | +€137,776 | +49.1% |
| Amounts payable after more than one year | 17 | €50,000 | €172,188 | +€122,188 | +244.4% |
| Other amounts payable | 178/9 | €50,000 | €172,188 | +€122,188 | +244.4% |
| Amounts payable within one year | 42/48 | €227,346 | €240,722 | +€13,375 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,055 | €3,324 | +€2,269 | +215.2% |
| Credit institutions | 430/8 | €1,055 | €3,324 | +€2,269 | +215.2% |
| Trade debts | 44 | €25,673 | €36,246 | +€10,573 | +41.2% |
| Suppliers | 440/4 | €25,673 | €36,246 | +€10,573 | +41.2% |
| Taxes, remuneration and social security | 45 | €15,447 | €46,715 | +€31,268 | +202.4% |
| Taxes | 450/3 | €15,447 | €46,715 | +€31,268 | +202.4% |
| Other amounts payable | 47/48 | €185,172 | €154,437 | -€30,735 | -16.6% |
| Accrued charges and deferred income | 492/3 | €3,125 | €5,338 | +€2,213 | +70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,428 | €3,445 | +€17 | +0.5% |
| Other operating charges | 640/8 | €1,614 | €985 | -€630 | -39.0% |
| Gross operating margin | 9900 | €199,158 | €326,653 | +€127,494 | +64.0% |
| Operating profit (loss) | 9901 | €194,116 | €322,223 | +€128,107 | +66.0% |
| Financial income | 75/76B | €384 | €745 | +€361 | +94.1% |
| Recurring financial income | 75 | €384 | €745 | +€361 | +94.1% |
| Financial charges | 65/66B | €3,876 | €7,174 | +€3,299 | +85.1% |
| Recurring financial charges | 65 | €3,876 | €7,174 | +€3,299 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €190,624 | €315,794 | +€125,170 | +65.7% |
| Income taxes | 67/77 | €44,697 | €98,430 | +€53,733 | +120.2% |
| Profit (loss) for the period | 9904 | €145,927 | €217,364 | +€71,437 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €145,927 | €217,364 | +€71,437 | +49.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.