MOP: 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.
MOP
Largest movements
- Current investments +€200,129
new in 2025: €200,129
- Cash -€172,164
down €172,164 (-80.0%), from €215,281 to €43,117
mainly Current investments (-€200,129) and Tax, wage and social debts (-€32,293)
- Deferred charges and accrued income -€21,471
down €21,471 (-33.0%), from €65,019 to €43,548
- Tangible fixed assets -€13,265
down €13,265 (-7.8%), from €170,119 to €156,854
of which Land and buildings: -€13,830
- Receivables within one year +€7,163
up €7,163 (+4095.8%), from €175 to €7,338
- Tax, wage and social debts -€32,293
down €32,293 (-91.2%), from €35,389 to €3,097
- Reserves +€30,967
up €30,967 (+9.9%), from €311,384 to €342,352
of which Distributable reserves: +€30,967
- Gross operating margin -€52,137
down €52,137 (-34.2%), from €152,537 to €100,400
- Financial charges -€12,409
down €12,409 (-24.8%), from €50,012 to €37,603
- Taxes -€10,956
down €10,956 (-49.6%), from €22,076 to €11,121
- Depreciation -€3,537
down €3,537 (-17.2%), from €20,562 to €17,025
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 | €450,593 | €450,986 | +€393 | +0.1% |
| Fixed assets | 21/28 | €170,119 | €156,854 | -€13,265 | -7.8% |
| Tangible fixed assets | 22/27 | €170,119 | €156,854 | -€13,265 | -7.8% |
| Land and buildings | 22 | €168,640 | €154,810 | -€13,830 | -8.2% |
| Plant, machinery and equipment | 23 | €565 | €293 | -€272 | -48.1% |
| Furniture and vehicles | 24 | €914 | €1,750 | +€837 | +91.6% |
| Current assets | 29/58 | €280,475 | €294,133 | +€13,658 | +4.9% |
| Amounts receivable within one year | 40/41 | €175 | €7,338 | +€7,163 | +4095.8% |
| Other amounts receivable | 41 | €175 | €7,338 | +€7,163 | +4095.8% |
| Current investments | 50/53 | - | €200,129 | +€200,129 | |
| Cash at bank and in hand | 54/58 | €215,281 | €43,117 | -€172,164 | -80.0% |
| Deferred charges and accrued income | 490/1 | €65,019 | €43,548 | -€21,471 | -33.0% |
| Total equity and liabilities | 10/49 | €450,593 | €450,986 | +€393 | +0.1% |
| Equity | 10/15 | €414,780 | €445,748 | +€30,967 | +7.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Outside capital | 11 | €30,000 | €30,000 | = | 0.0% |
| Other | 1109/19 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €311,384 | €342,352 | +€30,967 | +9.9% |
| Non-distributable reserves | 130/1 | €3,620 | €3,620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,620 | €3,620 | = | 0.0% |
| Distributable reserves | 133 | €307,764 | €338,732 | +€30,967 | +10.1% |
| Profit (loss) carried forward | 14 | €73,396 | €73,396 | = | 0.0% |
| Amounts payable | 17/49 | €35,813 | €5,239 | -€30,574 | -85.4% |
| Amounts payable within one year | 42/48 | €35,813 | €5,239 | -€30,574 | -85.4% |
| Trade debts | 44 | €424 | €16 | -€407 | -96.1% |
| Suppliers | 440/4 | €424 | €16 | -€407 | -96.1% |
| Taxes, remuneration and social security | 45 | €35,389 | €3,097 | -€32,293 | -91.2% |
| Taxes | 450/3 | €35,389 | €3,097 | -€32,293 | -91.2% |
| Other amounts payable | 47/48 | - | €2,126 | +€2,126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,562 | €17,025 | -€3,537 | -17.2% |
| Other operating charges | 640/8 | €3,306 | €3,875 | +€569 | +17.2% |
| Gross operating margin | 9900 | €152,537 | €100,400 | -€52,137 | -34.2% |
| Operating profit (loss) | 9901 | €128,669 | €79,500 | -€49,169 | -38.2% |
| Financial income | 75/76B | - | €192 | +€192 | |
| Recurring financial income | 75 | - | €192 | +€192 | |
| Financial charges | 65/66B | €50,012 | €37,603 | -€12,409 | -24.8% |
| Recurring financial charges | 65 | €50,012 | €37,603 | -€12,409 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €78,657 | €42,088 | -€36,568 | -46.5% |
| Income taxes | 67/77 | €22,076 | €11,121 | -€10,956 | -49.6% |
| Profit (loss) for the period | 9904 | €56,580 | €30,967 | -€25,613 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,580 | €30,967 | -€25,613 | -45.3% |
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.