MOKA D'OR: 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.
MOKA D'OR
Largest movements
- Cash -€158,208
down €158,208 (-58.9%), from €268,465 to €110,257
mainly Net result for the year (-€155,381) and Investment in fixed assets (net) (-€104,512)
- Receivables within one year +€94,477
up €94,477 (+41.6%), from €227,114 to €321,591
of which Trade receivables: +€86,415
- Tangible fixed assets +€51,529
up €51,529 (+62.0%), from €83,049 to €134,578
of which Furniture and vehicles: +€71,058
- Profit (loss) carried forward -€124,402
down €124,402, from €10,275 to -€114,127
- Trade debts +€80,773
up €80,773 (+27.5%), from €293,855 to €374,628
- Debts after one year +€34,784
up €34,784 (+6.9%), from €503,226 to €538,010
- Other debts +€31,544
new in 2025: €31,544
- Reserves -€30,979
down €30,979 (-71.1%), from €43,555 to €12,576
of which Distributable reserves: -€30,979
- Gross operating margin -€128,821
down €128,821 (-14.3%), from €901,025 to €772,204
- Other operating charges -€41,927
down €41,927 (-82.4%), from €50,853 to €8,926
- Staff costs +€37,914
up €37,914 (+4.7%), from €805,368 to €843,282
- Write-downs +€25,346
up €25,346, from -€22,594 to €2,752
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 | €1,128,984 | €1,123,979 | -€5,005 | -0.4% |
| Fixed assets | 21/28 | €84,069 | €135,597 | +€51,528 | +61.3% |
| Tangible fixed assets | 22/27 | €83,049 | €134,578 | +€51,529 | +62.0% |
| Plant, machinery and equipment | 23 | €45,628 | €37,827 | -€7,801 | -17.1% |
| Furniture and vehicles | 24 | €25,693 | €96,751 | +€71,058 | +277% |
| Leasing and similar rights | 25 | €11,728 | €0 | -€11,728 | -100% |
| Financial fixed assets | 28 | €1,019 | €1,019 | +€0 | 0.0% |
| Current assets | 29/58 | €1,044,916 | €988,382 | -€56,534 | -5.4% |
| Stocks and contracts in progress | 3 | €549,207 | €556,534 | +€7,327 | +1.3% |
| Stocks | 30/36 | €549,207 | €556,534 | +€7,327 | +1.3% |
| Amounts receivable within one year | 40/41 | €227,114 | €321,591 | +€94,477 | +41.6% |
| Trade receivables | 40 | €224,432 | €310,847 | +€86,415 | +38.5% |
| Other amounts receivable | 41 | €2,682 | €10,744 | +€8,062 | +301% |
| Cash at bank and in hand | 54/58 | €268,465 | €110,257 | -€158,208 | -58.9% |
| Deferred charges and accrued income | 490/1 | €130 | €0 | -€130 | -100% |
| Total equity and liabilities | 10/49 | €1,128,984 | €1,123,979 | -€5,005 | -0.4% |
| Equity | 10/15 | €117,325 | -€38,056 | -€155,381 | |
| Contributions | 10/11 | €63,495 | €63,495 | +€0 | 0.0% |
| Reserves | 13 | €43,555 | €12,576 | -€30,979 | -71.1% |
| Tax-exempt reserves | 132 | €12,576 | €12,576 | -€0 | 0.0% |
| Distributable reserves | 133 | €30,979 | €0 | -€30,979 | -100% |
| Profit (loss) carried forward | 14 | €10,275 | -€114,127 | -€124,402 | |
| Amounts payable | 17/49 | €1,011,659 | €1,162,035 | +€150,376 | +14.9% |
| Amounts payable after more than one year | 17 | €503,226 | €538,010 | +€34,784 | +6.9% |
| Financial debts | 170/4 | €503,226 | €538,010 | +€34,784 | +6.9% |
| Amounts payable within one year | 42/48 | €495,433 | €611,025 | +€115,592 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €15,444 | €31,302 | +€15,858 | +103% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €293,855 | €374,628 | +€80,773 | +27.5% |
| Suppliers | 440/4 | €293,855 | €374,628 | +€80,773 | +27.5% |
| Taxes, remuneration and social security | 45 | €136,134 | €123,551 | -€12,583 | -9.2% |
| Taxes | 450/3 | €45,431 | €37,887 | -€7,544 | -16.6% |
| Remuneration and social security | 454/9 | €90,703 | €85,664 | -€5,039 | -5.6% |
| Other amounts payable | 47/48 | - | €31,544 | +€31,544 | |
| Accrued charges and deferred income | 492/3 | €13,000 | €13,000 | = | 0.0% |
| Non-recurring operating income | 76A | €19,226 | €46,306 | +€27,080 | +141% |
| Remuneration, social security and pensions | 62 | €805,368 | €843,282 | +€37,914 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,688 | €52,983 | +€1,295 | +2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€22,594 | €2,752 | +€25,346 | |
| Other operating charges | 640/8 | €50,853 | €8,926 | -€41,927 | -82.4% |
| Gross operating margin | 9900 | €901,025 | €772,204 | -€128,821 | -14.3% |
| Operating profit (loss) | 9901 | €15,710 | -€135,739 | -€151,449 | |
| Financial income | 75/76B | €2,784 | €3,250 | +€466 | +16.7% |
| Recurring financial income | 75 | €2,784 | €3,250 | +€466 | +16.7% |
| Financial charges | 65/66B | €21,211 | €22,128 | +€917 | +4.3% |
| Recurring financial charges | 65 | €21,211 | €22,128 | +€917 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,717 | -€154,617 | -€151,900 | -5,591% |
| Income taxes | 67/77 | €5,832 | €764 | -€5,068 | -86.9% |
| Profit (loss) for the period | 9904 | -€8,549 | -€155,381 | -€146,832 | -1,718% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,549 | -€155,381 | -€146,832 | -1,718% |
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 31 October 2026 via checked.be.