MOONRAY: 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.
MOONRAY
Largest movements
- Current investments -€1.0m
down €1.0m (-99.7%), from €1.0m to €2,874
- Receivables within one year +€87,588
up €87,588 (+2.9%), from €3.1m to €3.2m
of which Other amounts receivable: +€87,606
- Other debts -€974,743
down €974,743 (-26.6%), from €3.7m to €2.7m
- Financial charges -€90,492
down €90,492 (-52.7%), from €171,789 to €81,297
- Financial income +€35,014
up €35,014 (+42.1%), from €83,209 to €118,222
- Taxes +€16,053
up €16,053, from -€4,295 to €11,758
- Gross operating margin -€525
down €525 (-9.3%), from -€5,634 to -€6,159
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 | €5,548,848 | €4,602,457 | -€946,391 | -17.1% |
| Fixed assets | 21/28 | €1,378,053 | €1,392,053 | +€14,000 | +1.0% |
| Financial fixed assets | 28 | €1,378,053 | €1,392,053 | +€14,000 | +1.0% |
| Current assets | 29/58 | €4,170,796 | €3,210,405 | -€960,391 | -23.0% |
| Amounts receivable within one year | 40/41 | €3,068,169 | €3,155,757 | +€87,588 | +2.9% |
| Trade receivables | 40 | €18 | €0 | -€18 | -100.0% |
| Other amounts receivable | 41 | €3,068,151 | €3,155,757 | +€87,606 | +2.9% |
| Current investments | 50/53 | €1,017,542 | €2,874 | -€1.0m | -99.7% |
| Cash at bank and in hand | 54/58 | €85,084 | €51,774 | -€33,310 | -39.1% |
| Total equity and liabilities | 10/49 | €5,548,848 | €4,602,457 | -€946,391 | -17.1% |
| Equity | 10/15 | €1,880,122 | €1,898,132 | +€18,010 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,484,251 | €1,484,251 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,482,391 | €1,482,391 | = | 0.0% |
| Profit (loss) carried forward | 14 | €377,270 | €395,280 | +€18,010 | +4.8% |
| Amounts payable | 17/49 | €3,668,727 | €2,704,326 | -€964,401 | -26.3% |
| Amounts payable within one year | 42/48 | €3,668,727 | €2,704,326 | -€964,401 | -26.3% |
| Trade debts | 44 | €88 | €625 | +€538 | +613.1% |
| Suppliers | 440/4 | €88 | €625 | +€538 | +613.1% |
| Taxes, remuneration and social security | 45 | €1,953 | €11,758 | +€9,805 | +501.9% |
| Taxes | 450/3 | €1,953 | €11,758 | +€9,805 | +501.9% |
| Other amounts payable | 47/48 | €3,666,686 | €2,691,942 | -€974,743 | -26.6% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€5,634 | -€6,159 | -€525 | -9.3% |
| Operating profit (loss) | 9901 | -€6,602 | -€7,157 | -€556 | -8.4% |
| Financial income | 75/76B | €83,209 | €118,222 | +€35,014 | +42.1% |
| Recurring financial income | 75 | €83,209 | €118,222 | +€35,014 | +42.1% |
| Financial charges | 65/66B | €171,789 | €81,297 | -€90,492 | -52.7% |
| Recurring financial charges | 65 | €171,789 | €81,297 | -€90,492 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | -€95,182 | €29,768 | +€124,950 | |
| Income taxes | 67/77 | -€4,295 | €11,758 | +€16,053 | |
| Profit (loss) for the period | 9904 | -€90,886 | €18,010 | +€108,897 | |
| Profit (loss) for the period to be appropriated | 9905 | -€90,886 | €18,010 | +€108,897 |
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 29 September 2026 via checked.be.