MOON: 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.
MOON
Largest movements
- Receivables after one year +€155,273
new in 2025: €155,273
- Cash -€103,408
down €103,408 (-69.5%), from €148,717 to €45,309
mainly Receivables after one year (-€155,273) and Receivables within one year (-€65,537)
- Receivables within one year +€65,537
up €65,537 (+13.3%), from €491,975 to €557,512
of which Trade receivables: +€277,047
- Stocks and contracts -€54,154
down €54,154 (-25.5%), from €212,103 to €157,949
of which Stocks: -€29,235
- Tangible fixed assets -€26,533
down €26,533 (-39.7%), from €66,810 to €40,277
of which Other tangible fixed assets: -€23,128
- Reserves -€51,730
down €51,730 (-22.8%), from €226,713 to €174,983
- Trade debts +€50,897
up €50,897 (+22.2%), from €229,743 to €280,640
- Current portion of long-term debt -€25,224
down €25,224 (-32.5%), from €77,643 to €52,419
- Debts after one year +€20,214
up €20,214 (+5.9%), from €343,947 to €364,162
- Profit (loss) carried forward +€19,627
up €19,627 (+15.2%), from -€129,358 to -€109,731
- Taxes +€30,176
up €30,176, from -€507 to €29,670
- Staff costs -€19,636
down €19,636 (-12.8%), from €153,061 to €133,425
- Depreciation -€13,581
down €13,581 (-32.5%), from €41,770 to €28,189
- Financial charges -€10,464
down €10,464 (-23.3%), from €44,896 to €34,432
- Gross operating margin -€7,860
down €7,860 (-3.0%), from €262,104 to €254,244
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 | €938,198 | €959,600 | +€21,401 | +2.3% |
| Fixed assets | 21/28 | €66,810 | €40,277 | -€26,533 | -39.7% |
| Tangible fixed assets | 22/27 | €66,810 | €40,277 | -€26,533 | -39.7% |
| Plant, machinery and equipment | 23 | €7,197 | €3,719 | -€3,478 | -48.3% |
| Furniture and vehicles | 24 | €3,685 | €3,757 | +€73 | +2.0% |
| Other tangible fixed assets | 26 | €55,928 | €32,800 | -€23,128 | -41.4% |
| Current assets | 29/58 | €871,388 | €919,323 | +€47,935 | +5.5% |
| Amounts receivable after more than one year | 29 | - | €155,273 | +€155,273 | |
| Trade receivables | 290 | - | €155,273 | +€155,273 | |
| Stocks and contracts in progress | 3 | €212,103 | €157,949 | -€54,154 | -25.5% |
| Stocks | 30/36 | €70,323 | €41,088 | -€29,235 | -41.6% |
| Contracts in progress | 37 | €141,780 | €116,861 | -€24,919 | -17.6% |
| Amounts receivable within one year | 40/41 | €491,975 | €557,512 | +€65,537 | +13.3% |
| Trade receivables | 40 | €220,677 | €497,725 | +€277,047 | +125.5% |
| Other amounts receivable | 41 | €271,298 | €59,787 | -€211,510 | -78.0% |
| Cash at bank and in hand | 54/58 | €148,717 | €45,309 | -€103,408 | -69.5% |
| Deferred charges and accrued income | 490/1 | €18,592 | €3,279 | -€15,313 | -82.4% |
| Total equity and liabilities | 10/49 | €938,198 | €959,600 | +€21,401 | +2.3% |
| Equity | 10/15 | €229,755 | €197,652 | -€32,104 | -14.0% |
| Contributions | 10/11 | €132,400 | €132,400 | = | 0.0% |
| Reserves | 13 | €226,713 | €174,983 | -€51,730 | -22.8% |
| Distributable reserves | 133 | €226,713 | €174,983 | -€51,730 | -22.8% |
| Profit (loss) carried forward | 14 | -€129,358 | -€109,731 | +€19,627 | +15.2% |
| Amounts payable | 17/49 | €708,443 | €761,948 | +€53,505 | +7.6% |
| Amounts payable after more than one year | 17 | €343,947 | €364,162 | +€20,214 | +5.9% |
| Financial debts | 170/4 | €343,947 | €364,162 | +€20,214 | +5.9% |
| Amounts payable within one year | 42/48 | €364,496 | €397,786 | +€33,291 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €77,643 | €52,419 | -€25,224 | -32.5% |
| Financial debts | 43 | - | €11,779 | +€11,779 | |
| Credit institutions | 430/8 | - | €11,779 | +€11,779 | |
| Trade debts | 44 | €229,743 | €280,640 | +€50,897 | +22.2% |
| Suppliers | 440/4 | €229,743 | €280,640 | +€50,897 | +22.2% |
| Taxes, remuneration and social security | 45 | €57,110 | €52,948 | -€4,161 | -7.3% |
| Taxes | 450/3 | €37,463 | €29,670 | -€7,793 | -20.8% |
| Remuneration and social security | 454/9 | €19,647 | €23,279 | +€3,631 | +18.5% |
| Remuneration, social security and pensions | 62 | €153,061 | €133,425 | -€19,636 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,770 | €28,189 | -€13,581 | -32.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,454 | +€7,454 | |
| Other operating charges | 640/8 | €1,459 | €6,559 | +€5,100 | +349.6% |
| Non-recurring operating charges | 66A | €15,914 | - | -€15,914 | |
| Gross operating margin | 9900 | €262,104 | €254,244 | -€7,860 | -3.0% |
| Operating profit (loss) | 9901 | €49,901 | €78,618 | +€28,717 | +57.5% |
| Financial income | 75/76B | €182 | €5,111 | +€4,929 | +2712.4% |
| Recurring financial income | 75 | €182 | €5,111 | +€4,929 | +2712.4% |
| Financial charges | 65/66B | €44,896 | €34,432 | -€10,464 | -23.3% |
| Recurring financial charges | 65 | €44,896 | €34,432 | -€10,464 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €5,186 | €49,297 | +€44,110 | +850.5% |
| Income taxes | 67/77 | -€507 | €29,670 | +€30,176 | |
| Profit (loss) for the period | 9904 | €5,693 | €19,627 | +€13,934 | +244.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,693 | €19,627 | +€13,934 | +244.8% |
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 4 October 2026 via checked.be.