MOORS ROTEM: 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.
MOORS ROTEM
Largest movements
- Receivables within one year -€579,511
down €579,511 (-44.6%), from €1.3m to €718,430
of which Trade receivables: -€788,067
- Stocks and contracts +€105,400
up €105,400 (+25.6%), from €412,500 to €517,900
of which Contracts in progress: +€189,350
- Cash -€92,131
down €92,131 (-34.4%), from €267,839 to €175,708
mainly Other debts (-€705,122) and Investment in fixed assets (net) (-€171,980)
- Tangible fixed assets +€35,997
up €35,997 (+13.6%), from €265,431 to €301,428
of which Plant, machinery and equipment: +€24,552
- Deferred charges and accrued income -€25,820
down €25,820 (-26.9%), from €95,965 to €70,145
- Other debts -€705,122
down €705,122 (-87.8%), from €802,811 to €97,688
- Trade debts +€79,790
up €79,790 (+37.5%), from €212,766 to €292,557
- Accrued charges and deferred income +€37,628
up €37,628 (+64.6%), from €58,266 to €95,894
- Reserves +€27,917
up €27,917 (+2.4%), from €1.2m to €1.2m
of which Distributable reserves: +€27,917
- Gross operating margin +€39,546
up €39,546 (+9.3%), from €425,720 to €465,266
- Staff costs +€25,864
up €25,864 (+10.3%), from €250,730 to €276,594
- Other operating charges -€12,150
down €12,150 (-56.9%), from €21,354 to €9,204
- Depreciation +€4,659
up €4,659 (+3.5%), from €131,325 to €135,984
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,339,676 | €1,783,610 | -€556,066 | -23.8% |
| Fixed assets | 21/28 | €265,431 | €301,428 | +€35,997 | +13.6% |
| Tangible fixed assets | 22/27 | €265,431 | €301,428 | +€35,997 | +13.6% |
| Land and buildings | 22 | €67,546 | €55,154 | -€12,392 | -18.3% |
| Plant, machinery and equipment | 23 | €148,212 | €172,764 | +€24,552 | +16.6% |
| Furniture and vehicles | 24 | €49,673 | €73,510 | +€23,837 | +48.0% |
| Current assets | 29/58 | €2,074,245 | €1,482,182 | -€592,062 | -28.5% |
| Stocks and contracts in progress | 3 | €412,500 | €517,900 | +€105,400 | +25.6% |
| Stocks | 30/36 | €188,750 | €104,800 | -€83,950 | -44.5% |
| Contracts in progress | 37 | €223,750 | €413,100 | +€189,350 | +84.6% |
| Amounts receivable within one year | 40/41 | €1,297,941 | €718,430 | -€579,511 | -44.6% |
| Trade receivables | 40 | €1,116,690 | €328,623 | -€788,067 | -70.6% |
| Other amounts receivable | 41 | €181,251 | €389,807 | +€208,556 | +115% |
| Cash at bank and in hand | 54/58 | €267,839 | €175,708 | -€92,131 | -34.4% |
| Deferred charges and accrued income | 490/1 | €95,965 | €70,145 | -€25,820 | -26.9% |
| Total equity and liabilities | 10/49 | €2,339,676 | €1,783,610 | -€556,066 | -23.8% |
| Equity | 10/15 | €1,239,622 | €1,267,539 | +€27,917 | +2.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Contributions outside capital | 11 | €62,500 | €62,500 | = | 0.0% |
| Other | 1109/19 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,177,122 | €1,205,039 | +€27,917 | +2.4% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €1,170,872 | €1,198,789 | +€27,917 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,100,053 | €516,071 | -€583,983 | -53.1% |
| Amounts payable within one year | 42/48 | €1,041,788 | €420,176 | -€621,611 | -59.7% |
| Trade debts | 44 | €212,766 | €292,557 | +€79,790 | +37.5% |
| Suppliers | 440/4 | €212,766 | €292,557 | +€79,790 | +37.5% |
| Taxes, remuneration and social security | 45 | €26,211 | €29,931 | +€3,721 | +14.2% |
| Taxes | 450/3 | €1,680 | €4,060 | +€2,380 | +142% |
| Remuneration and social security | 454/9 | €24,531 | €25,871 | +€1,341 | +5.5% |
| Other amounts payable | 47/48 | €802,811 | €97,688 | -€705,122 | -87.8% |
| Accrued charges and deferred income | 492/3 | €58,266 | €95,894 | +€37,628 | +64.6% |
| Non-recurring operating income | 76A | €0 | €4,413 | +€4,413 | |
| Remuneration, social security and pensions | 62 | €250,730 | €276,594 | +€25,864 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,325 | €135,984 | +€4,659 | +3.5% |
| Other operating charges | 640/8 | €21,354 | €9,204 | -€12,150 | -56.9% |
| Non-recurring operating charges | 66A | - | €151 | +€151 | |
| Gross operating margin | 9900 | €425,720 | €465,266 | +€39,546 | +9.3% |
| Operating profit (loss) | 9901 | €22,311 | €43,333 | +€21,022 | +94.2% |
| Financial income | 75/76B | €15,712 | €19,151 | +€3,439 | +21.9% |
| Recurring financial income | 75 | €15,712 | €19,151 | +€3,439 | +21.9% |
| Financial charges | 65/66B | €21,415 | €22,507 | +€1,091 | +5.1% |
| Recurring financial charges | 65 | €21,415 | €22,507 | +€1,091 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €16,608 | €39,977 | +€23,369 | +141% |
| Income taxes | 67/77 | €7,926 | €12,060 | +€4,134 | +52.1% |
| Profit (loss) for the period | 9904 | €8,682 | €27,917 | +€19,236 | +222% |
| Profit (loss) for the period to be appropriated | 9905 | €8,682 | €27,917 | +€19,236 | +222% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.