Moeyaert: 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.
Moeyaert
Largest movements
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€39,359
up €39,359 (+67.2%), from €58,593 to €97,951
mainly Depreciation (+€100,052) and Current investments (+€75,000)
- Tangible fixed assets +€15,418
up €15,418 (+3.5%), from €445,573 to €460,991
of which Plant, machinery and equipment: +€33,277
- Debts after one year -€15,808
down €15,808 (-6.9%), from €229,523 to €213,715
- Tax, wage and social debts +€6,724
up €6,724 (+44.9%), from €14,967 to €21,691
of which Remuneration and social security: +€4,130
- Depreciation +€33,990
up €33,990 (+51.5%), from €66,062 to €100,052
- Gross operating margin +€25,033
up €25,033 (+21.8%), from €114,669 to €139,702
- Staff costs +€21,687
new in 2025: €21,687
- Taxes -€6,703
down €6,703 (-96.4%), from €6,951 to €248
- Financial income -€1,793
down €1,793 (-62.3%), from €2,878 to €1,085
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 | €606,699 | €589,312 | -€17,387 | -2.9% |
| Formation expenses | 20 | €32 | €22 | -€10 | -31.6% |
| Fixed assets | 21/28 | €445,577 | €461,295 | +€15,718 | +3.5% |
| Tangible fixed assets | 22/27 | €445,573 | €460,991 | +€15,418 | +3.5% |
| Land and buildings | 22 | €212,128 | €198,270 | -€13,858 | -6.5% |
| Plant, machinery and equipment | 23 | €63,006 | €96,283 | +€33,277 | +52.8% |
| Furniture and vehicles | 24 | €166,925 | €160,494 | -€6,431 | -3.9% |
| Other tangible fixed assets | 26 | €3,513 | €5,944 | +€2,431 | +69.2% |
| Financial fixed assets | 28 | €4 | €304 | +€300 | +7,264% |
| Current assets | 29/58 | €161,091 | €127,996 | -€33,095 | -20.5% |
| Amounts receivable within one year | 40/41 | €17,941 | €19,530 | +€1,588 | +8.9% |
| Trade receivables | 40 | €13,315 | €9,549 | -€3,766 | -28.3% |
| Other amounts receivable | 41 | €4,626 | €9,981 | +€5,355 | +116% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €58,593 | €97,951 | +€39,359 | +67.2% |
| Deferred charges and accrued income | 490/1 | €9,557 | €10,515 | +€958 | +10.0% |
| Total equity and liabilities | 10/49 | €606,699 | €589,312 | -€17,387 | -2.9% |
| Equity | 10/15 | €175,615 | €174,373 | -€1,242 | -0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €167,060 | €167,060 | = | 0.0% |
| Distributable reserves | 133 | €167,060 | €167,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,356 | €1,113 | -€1,242 | -52.7% |
| Amounts payable | 17/49 | €431,084 | €414,939 | -€16,144 | -3.7% |
| Amounts payable after more than one year | 17 | €229,523 | €213,715 | -€15,808 | -6.9% |
| Financial debts | 170/4 | €229,523 | €213,715 | -€15,808 | -6.9% |
| Amounts payable within one year | 42/48 | €195,099 | €195,536 | +€437 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €52,581 | €53,563 | +€982 | +1.9% |
| Trade debts | 44 | €10,075 | €6,536 | -€3,539 | -35.1% |
| Suppliers | 440/4 | €10,075 | €6,536 | -€3,539 | -35.1% |
| Taxes, remuneration and social security | 45 | €14,967 | €21,691 | +€6,724 | +44.9% |
| Taxes | 450/3 | €14,967 | €17,561 | +€2,594 | +17.3% |
| Remuneration and social security | 454/9 | - | €4,130 | +€4,130 | |
| Other amounts payable | 47/48 | €117,476 | €113,746 | -€3,730 | -3.2% |
| Accrued charges and deferred income | 492/3 | €6,462 | €5,688 | -€773 | -12.0% |
| Non-recurring operating income | 76A | €18,675 | €15,702 | -€2,972 | -15.9% |
| Remuneration, social security and pensions | 62 | - | €21,687 | +€21,687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,062 | €100,052 | +€33,990 | +51.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €300 | - | -€300 | |
| Other operating charges | 640/8 | €3,965 | €4,551 | +€586 | +14.8% |
| Gross operating margin | 9900 | €114,669 | €139,702 | +€25,033 | +21.8% |
| Operating profit (loss) | 9901 | €44,343 | €13,412 | -€30,930 | -69.8% |
| Financial income | 75/76B | €2,878 | €1,085 | -€1,793 | -62.3% |
| Recurring financial income | 75 | €2,878 | €1,085 | -€1,793 | -62.3% |
| Financial charges | 65/66B | €15,726 | €15,492 | -€234 | -1.5% |
| Recurring financial charges | 65 | €15,726 | €15,492 | -€234 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €31,495 | -€994 | -€32,489 | |
| Income taxes | 67/77 | €6,951 | €248 | -€6,703 | -96.4% |
| Profit (loss) for the period | 9904 | €24,544 | -€1,242 | -€25,786 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,544 | -€1,242 | -€25,786 |
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 22 October 2026 via checked.be.