Moonshine: 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.
Moonshine
Largest movements
- Cash -€26,252
down €26,252 (-49.1%), from €53,475 to €27,223
mainly Net result for the year (-€40,945) and Trade debts (-€1,800)
- Receivables within one year -€7,968
down €7,968 (-18.7%), from €42,499 to €34,531
of which Trade receivables: -€10,283
- Deferred charges and accrued income -€3,429
down €3,429 (-59.8%), from €5,730 to €2,301
- Tangible fixed assets -€2,228
down €2,228 (-45.2%), from €4,926 to €2,698
of which Furniture and vehicles: -€2,046
- Reserves -€40,945
down €40,945 (-38.3%), from €106,804 to €65,859
- Short-term financial debts +€3,338
up €3,338 (+139%), from €2,409 to €5,747
- Trade debts -€1,800
down €1,800 (-44.8%), from €4,016 to €2,215
- Gross operating margin -€48,362
down €48,362, from €21,516 to -€26,845
- Depreciation -€12,275
down €12,275 (-84.6%), from €14,503 to €2,228
- Write-downs +€10,680
new in 2025: €10,680
- Taxes -€3,012
down €3,012 (-97.0%), from €3,105 to €93
- Other operating charges +€572
up €572 (+52.7%), from €1,086 to €1,657
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 | €126,630 | €86,754 | -€39,876 | -31.5% |
| Fixed assets | 21/28 | €4,926 | €2,698 | -€2,228 | -45.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,926 | €2,698 | -€2,228 | -45.2% |
| Land and buildings | 22 | €691 | €510 | -€182 | -26.3% |
| Furniture and vehicles | 24 | €4,235 | €2,189 | -€2,046 | -48.3% |
| Current assets | 29/58 | €121,704 | €84,056 | -€37,648 | -30.9% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Trade receivables | 290 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,499 | €34,531 | -€7,968 | -18.7% |
| Trade receivables | 40 | €28,090 | €17,807 | -€10,283 | -36.6% |
| Other amounts receivable | 41 | €14,408 | €16,724 | +€2,316 | +16.1% |
| Cash at bank and in hand | 54/58 | €53,475 | €27,223 | -€26,252 | -49.1% |
| Deferred charges and accrued income | 490/1 | €5,730 | €2,301 | -€3,429 | -59.8% |
| Total equity and liabilities | 10/49 | €126,630 | €86,754 | -€39,876 | -31.5% |
| Equity | 10/15 | €119,204 | €78,259 | -€40,945 | -34.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €106,804 | €65,859 | -€40,945 | -38.3% |
| Distributable reserves | 133 | €106,804 | €65,859 | -€40,945 | -38.3% |
| Amounts payable | 17/49 | €7,426 | €8,495 | +€1,069 | +14.4% |
| Amounts payable within one year | 42/48 | €7,426 | €8,495 | +€1,069 | +14.4% |
| Financial debts | 43 | €2,409 | €5,747 | +€3,338 | +139% |
| Credit institutions | 430/8 | €2,409 | €5,747 | +€3,338 | +139% |
| Trade debts | 44 | €4,016 | €2,215 | -€1,800 | -44.8% |
| Suppliers | 440/4 | €4,016 | €2,215 | -€1,800 | -44.8% |
| Taxes, remuneration and social security | 45 | €238 | €533 | +€295 | +124% |
| Taxes | 450/3 | €238 | €533 | +€295 | +124% |
| Other amounts payable | 47/48 | €764 | €0 | -€764 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,503 | €2,228 | -€12,275 | -84.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,680 | +€10,680 | |
| Other operating charges | 640/8 | €1,086 | €1,657 | +€572 | +52.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €21,516 | -€26,845 | -€48,362 | |
| Operating profit (loss) | 9901 | €5,928 | -€41,410 | -€47,338 | |
| Financial income | 75/76B | €1,137 | €1,119 | -€18 | -1.6% |
| Recurring financial income | 75 | €1,137 | €1,119 | -€18 | -1.6% |
| Financial charges | 65/66B | €835 | €561 | -€274 | -32.9% |
| Recurring financial charges | 65 | €835 | €561 | -€274 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €6,230 | -€40,852 | -€47,081 | |
| Income taxes | 67/77 | €3,105 | €93 | -€3,012 | -97.0% |
| Profit (loss) for the period | 9904 | €3,124 | -€40,945 | -€44,069 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,124 | -€40,945 | -€44,069 |
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 25 October 2026 via checked.be.