Moore Strategy & Operations: 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.
What changed
Moore Strategy & Operations
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,196
2024 · €57,373+€824
Equity
€10.4m
2024 · €6.4m+€4.0m
Cash
€7,393
2024 · €7,354+€39
Balance sheet total
€38.8m
2024 · €22.6m+€16.2m
Largest movements
Assets
- Financial fixed assets +€12.4m
up €12.4m (+331%), from €3.7m to €16.1m
of which Affiliated companies: +€12.4m
- Receivables within one year +€4.1m
up €4.1m (+57.3%), from €7.1m to €11.1m
of which Other amounts receivable: +€3.5m
- Intangible fixed assets -€763,996
down €763,996 (-6.5%), from €11.7m to €10.9m
- Formation expenses +€400,600
new in 2025: €400,600
Equity and liabilities
- Debts after one year +€9.6m
up €9.6m (+91.3%), from €10.5m to €20.0m
of which Other amounts payable: +€20.0m
- Other debts +€4.2m
up €4.2m (+2,089%), from €200,000 to €4.4m
- Contributions +€3.9m
up €3.9m (+73.8%), from €5.3m to €9.2m
- Trade debts -€1.0m
down €1.0m (-31.1%), from €3.2m to €2.2m
Income statement
- Services and other goods -€2.2m
down €2.2m (-39.2%), from €5.7m to €3.5m
- Other operating income -€781,383
down €781,383 (-37.6%), from €2.1m to €1.3m
- Staff costs +€583,286
up €583,286 (+6.5%), from €9.0m to €9.6m
- Turnover -€471,374
down €471,374 (-2.3%), from €20.3m to €19.9m
- Write-downs +€435,545
up €435,545, from -€92,895 to €342,650
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.
Result 2024
€57,373
Turnover
-€471,374
Other operating income
-€781,383
Goods and materials
-€32,729
Services and other goods
+€2.2m
Staff costs
-€583,286
Depreciation
-€2,084
Write-downs
-€435,545
Other operating charges
+€7,842
Other operating items
+€331,316
Financial income
-€211,149
Financial charges
-€5,872
Taxes
-€53,263
Result 2025
€58,196
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€199,979
Investment
-€13.0m
Financing
+€13.2m
Cash 2024
€7,354
From operations (derived)
-€199,979
Net result for the year
+€58,196
Depreciation
+€967,416
Stocks and contracts
-€153,363
Receivables within one year
-€4.1m
Deferred charges and accrued income
+€55,647
Trade debts
-€1.0m
Tax, wage and social debts
-€95,822
Other debts
+€4.2m
Accrued charges and deferred income
-€146,305
Investment (derived)
-€13.0m
Investment in fixed assets (net)
-€13.0m
Financing
+€13.2m
Debts after one year
+€9.6m
Current portion of long-term debt
-€287,000
Contributions, distributions and other
+€3.9m
Cash 2025
€7,393
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,648,970 | €38,806,691 | +€16.2m | +71.3% |
| Formation expenses | 20 | - | €400,600 | +€400,600 | |
| Fixed assets | 21/28 | €15,436,320 | €27,038,787 | +€11.6m | +75.2% |
| Intangible fixed assets | 21 | €11,687,902 | €10,923,906 | -€763,996 | -6.5% |
| Tangible fixed assets | 22/27 | €10,094 | €4,381 | -€5,713 | -56.6% |
| Furniture and vehicles | 24 | €10,094 | €4,381 | -€5,713 | -56.6% |
| Financial fixed assets | 28 | €3,738,324 | €16,110,501 | +€12.4m | +331% |
| Affiliated companies | 280/1 | €3,738,324 | €16,102,051 | +€12.4m | +331% |
| Participating interests | 280 | €3,738,324 | €16,102,051 | +€12.4m | +331% |
| Other financial fixed assets | 284/8 | - | €8,450 | +€8,450 | |
| Amounts receivable and cash guarantees | 285/8 | - | €8,450 | +€8,450 | |
| Current assets | 29/58 | €7,212,650 | €11,367,304 | +€4.2m | +57.6% |
| Stocks and contracts in progress | 3 | €50,541 | €203,904 | +€153,363 | +303% |
| Contracts in progress | 37 | €50,541 | €203,904 | +€153,363 | +303% |
| Amounts receivable within one year | 40/41 | €7,083,734 | €11,140,633 | +€4.1m | +57.3% |
| Trade receivables | 40 | €6,184,465 | €6,748,194 | +€563,729 | +9.1% |
| Other amounts receivable | 41 | €899,269 | €4,392,439 | +€3.5m | +388% |
| Cash at bank and in hand | 54/58 | €7,354 | €7,393 | +€39 | +0.5% |
| Deferred charges and accrued income | 490/1 | €71,021 | €15,374 | -€55,647 | -78.4% |
| Total equity and liabilities | 10/49 | €22,648,970 | €38,806,691 | +€16.2m | +71.3% |
| Equity | 10/15 | €6,423,250 | €10,381,446 | +€4.0m | +61.6% |
| Contributions | 10/11 | €5,282,400 | €9,182,400 | +€3.9m | +73.8% |
| Contributions outside capital | 11 | €5,282,400 | €9,182,400 | +€3.9m | +73.8% |
| Other | 1109/19 | €5,282,400 | €9,182,400 | +€3.9m | +73.8% |
| Reserves | 13 | €1,140,850 | €1,199,046 | +€58,196 | +5.1% |
| Non-distributable reserves | 130/1 | €1,978 | €1,978 | = | 0.0% |
| Other | 1319 | €1,978 | €1,978 | = | 0.0% |
| Distributable reserves | 133 | €1,138,872 | €1,197,068 | +€58,196 | +5.1% |
| Amounts payable | 17/49 | €16,225,721 | €28,425,246 | +€12.2m | +75.2% |
| Amounts payable after more than one year | 17 | €10,472,499 | €20,030,000 | +€9.6m | +91.3% |
| Financial debts | 170/4 | €10,472,499 | - | -€10.5m | |
| Credit institutions | 173 | €10,472,499 | - | -€10.5m | |
| Other amounts payable | 178/9 | - | €20,030,000 | +€20.0m | |
| Amounts payable within one year | 42/48 | €5,606,917 | €8,395,246 | +€2.8m | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €287,000 | - | -€287,000 | |
| Trade debts | 44 | €3,241,246 | €2,233,454 | -€1.0m | -31.1% |
| Suppliers | 440/4 | €3,241,246 | €2,233,454 | -€1.0m | -31.1% |
| Taxes, remuneration and social security | 45 | €1,878,671 | €1,782,849 | -€95,822 | -5.1% |
| Taxes | 450/3 | €436,169 | €326,115 | -€110,054 | -25.2% |
| Remuneration and social security | 454/9 | €1,442,502 | €1,456,735 | +€14,232 | +1.0% |
| Other amounts payable | 47/48 | €200,000 | €4,378,942 | +€4.2m | +2,089% |
| Accrued charges and deferred income | 492/3 | €146,305 | - | -€146,305 | |
| Operating income | 70/76A | €22,275,221 | €21,319,600 | -€955,622 | -4.3% |
| Turnover | 70 | €20,337,533 | €19,866,160 | -€471,374 | -2.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€188,978 | €153,363 | +€342,341 | |
| Other operating income | 74 | €2,077,653 | €1,296,270 | -€781,383 | -37.6% |
| Non-recurring operating income | 76A | €49,013 | €3,807 | -€45,206 | -92.2% |
| Operating charges | 60/66A | €21,361,049 | €20,134,319 | -€1.2m | -5.7% |
| Goods for resale, raw materials and consumables | 60 | €5,704,118 | €5,736,847 | +€32,729 | +0.6% |
| Purchases | 600/8 | €5,704,118 | €5,736,847 | +€32,729 | +0.6% |
| Services and other goods | 61 | €5,703,170 | €3,464,820 | -€2.2m | -39.2% |
| Remuneration, social security and pensions | 62 | €9,009,188 | €9,592,474 | +€583,286 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €965,333 | €967,416 | +€2,084 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€92,895 | €342,650 | +€435,545 | |
| Other operating charges | 640/8 | €36,840 | €28,998 | -€7,842 | -21.3% |
| Non-recurring operating charges | 66A | €35,296 | €1,114 | -€34,181 | -96.8% |
| Operating profit (loss) | 9901 | €914,173 | €1,185,281 | +€271,108 | +29.7% |
| Financial income | 75/76B | €239,786 | €28,637 | -€211,149 | -88.1% |
| Recurring financial income | 75 | €239,786 | €28,637 | -€211,149 | -88.1% |
| Income from financial fixed assets | 750 | €8,088 | - | -€8,088 | |
| Income from current assets | 751 | €229,038 | €28,637 | -€200,401 | -87.5% |
| Other financial income | 752/9 | €2,660 | - | -€2,660 | |
| Financial charges | 65/66B | €734,827 | €740,699 | +€5,872 | +0.8% |
| Recurring financial charges | 65 | €734,827 | €740,699 | +€5,872 | +0.8% |
| Debt charges | 650 | €731,003 | €736,302 | +€5,299 | +0.7% |
| Other financial charges | 652/9 | €3,824 | €4,397 | +€572 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €419,132 | €473,219 | +€54,087 | +12.9% |
| Income taxes | 67/77 | €361,760 | €415,023 | +€53,263 | +14.7% |
| Taxes | 670/3 | €466,312 | €475,820 | +€9,508 | +2.0% |
| Tax adjustments and reversals of tax provisions | 77 | €104,552 | €60,797 | -€43,755 | -41.8% |
| Profit (loss) for the period | 9904 | €57,373 | €58,196 | +€824 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,373 | €58,196 | +€824 | +1.4% |
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 15 October 2026 via checked.be.