MOMA: 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.
MOMA
Largest movements
- Tangible fixed assets +€365,930
up €365,930 (+44.5%), from €821,539 to €1.2m
of which Land and buildings: +€373,315
- Cash -€13,327
down €13,327 (-62.4%), from €21,347 to €8,020
mainly Investment in fixed assets (net) (-€414,754) and Tax, wage and social debts (-€5,770)
- Debts after one year +€331,551
up €331,551 (+54.6%), from €607,469 to €939,020
of which Financial debts: +€331,551
- Reserves +€26,884
up €26,884 (+19.9%), from €135,349 to €162,232
- Gross operating margin -€33,197
down €33,197 (-23.1%), from €143,764 to €110,567
- Taxes -€13,448
down €13,448 (-99.6%), from €13,500 to €52
- Financial charges +€8,687
up €8,687 (+30.6%), from €28,430 to €37,117
- Write-downs -€6,131
down €6,131 (-93.8%), from -€6,540 to -€12,671
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 | €971,818 | €1,328,825 | +€357,008 | +36.7% |
| Fixed assets | 21/28 | €863,216 | €1,226,576 | +€363,360 | +42.1% |
| Intangible fixed assets | 21 | €41,676 | €36,106 | -€5,570 | -13.4% |
| Tangible fixed assets | 22/27 | €821,539 | €1,187,469 | +€365,930 | +44.5% |
| Land and buildings | 22 | €774,332 | €1,147,648 | +€373,315 | +48.2% |
| Furniture and vehicles | 24 | €5,328 | €4,686 | -€641 | -12.0% |
| Other tangible fixed assets | 26 | €41,879 | €35,135 | -€6,744 | -16.1% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €108,602 | €102,250 | -€6,352 | -5.8% |
| Stocks and contracts in progress | 3 | €80,176 | €79,721 | -€455 | -0.6% |
| Stocks | 30/36 | €80,176 | €79,721 | -€455 | -0.6% |
| Amounts receivable within one year | 40/41 | €807 | €5,577 | +€4,770 | +591.1% |
| Trade receivables | 40 | €799 | €5,550 | +€4,751 | +594.7% |
| Other amounts receivable | 41 | €8 | €28 | +€20 | +239.0% |
| Cash at bank and in hand | 54/58 | €21,347 | €8,020 | -€13,327 | -62.4% |
| Deferred charges and accrued income | 490/1 | €6,272 | €8,932 | +€2,660 | +42.4% |
| Total equity and liabilities | 10/49 | €971,818 | €1,328,825 | +€357,008 | +36.7% |
| Equity | 10/15 | €153,949 | €180,832 | +€26,884 | +17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,349 | €162,232 | +€26,884 | +19.9% |
| Distributable reserves | 133 | €135,349 | €162,232 | +€26,884 | +19.9% |
| Amounts payable | 17/49 | €817,869 | €1,147,993 | +€330,124 | +40.4% |
| Amounts payable after more than one year | 17 | €607,469 | €939,020 | +€331,551 | +54.6% |
| Financial debts | 170/4 | €606,169 | €937,720 | +€331,551 | +54.7% |
| Other amounts payable | 178/9 | €1,300 | €1,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €210,400 | €208,973 | -€1,427 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €63,379 | €57,782 | -€5,597 | -8.8% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €39,329 | €39,769 | +€440 | +1.1% |
| Suppliers | 440/4 | €39,329 | €39,769 | +€440 | +1.1% |
| Advances received on contracts in progress | 46 | €330 | €810 | +€480 | +145.4% |
| Taxes, remuneration and social security | 45 | €16,877 | €11,108 | -€5,770 | -34.2% |
| Taxes | 450/3 | €16,416 | €10,969 | -€5,447 | -33.2% |
| Remuneration and social security | 454/9 | €461 | €138 | -€323 | -70.0% |
| Other amounts payable | 47/48 | €60,486 | €69,505 | +€9,019 | +14.9% |
| Remuneration, social security and pensions | 62 | €6,324 | €5,615 | -€709 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,306 | €51,394 | +€89 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,540 | -€12,671 | -€6,131 | -93.8% |
| Other operating charges | 640/8 | €4,111 | €3,127 | -€984 | -23.9% |
| Gross operating margin | 9900 | €143,764 | €110,567 | -€33,197 | -23.1% |
| Operating profit (loss) | 9901 | €88,563 | €63,101 | -€25,462 | -28.7% |
| Financial income | 75/76B | €387 | €950 | +€564 | +145.8% |
| Recurring financial income | 75 | €387 | €950 | +€564 | +145.8% |
| Financial charges | 65/66B | €28,430 | €37,117 | +€8,687 | +30.6% |
| Recurring financial charges | 65 | €28,430 | €37,117 | +€8,687 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €60,520 | €26,935 | -€33,585 | -55.5% |
| Income taxes | 67/77 | €13,500 | €52 | -€13,448 | -99.6% |
| Profit (loss) for the period | 9904 | €47,020 | €26,884 | -€20,137 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,020 | €26,884 | -€20,137 | -42.8% |
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 9 October 2026 via checked.be.