MOQO: 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.
MOQO
Largest movements
- Receivables within one year -€42,758
down €42,758 (-10.2%), from €421,189 to €378,431
of which Trade receivables: -€21,919
- Cash -€10,929
down €10,929 (-6.7%), from €163,240 to €152,311
mainly Current portion of long-term debt (-€64,468) and Debts after one year (-€24,743)
- Deferred charges and accrued income -€8,663
down €8,663 (-34.3%), from €25,258 to €16,595
- Current portion of long-term debt -€64,468
down €64,468 (-29.4%), from €219,437 to €154,969
- Profit (loss) carried forward +€61,260
up €61,260 (+45.5%), from -€134,762 to -€73,502
- Debts after one year -€24,743
down €24,743 (-24.1%), from €102,699 to €77,956
- Trade debts -€24,192
down €24,192 (-16.9%), from €143,407 to €119,215
- Accrued charges and deferred income -€11,119
down €11,119 (-62.1%), from €17,907 to €6,788
- Gross operating margin +€113,141
up €113,141 (+17.2%), from €658,327 to €771,468
- Staff costs -€47,548
down €47,548 (-6.8%), from €700,038 to €652,490
- Taxes +€18,364
up €18,364 (+1,169%), from €1,571 to €19,935
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 | €787,542 | €715,443 | -€72,099 | -9.2% |
| Fixed assets | 21/28 | €45,355 | €35,606 | -€9,750 | -21.5% |
| Intangible fixed assets | 21 | €2,124 | €1,009 | -€1,115 | -52.5% |
| Tangible fixed assets | 22/27 | €42,382 | €34,596 | -€7,785 | -18.4% |
| Land and buildings | 22 | €20,243 | €18,056 | -€2,187 | -10.8% |
| Plant, machinery and equipment | 23 | €3,481 | €2,959 | -€522 | -15.0% |
| Furniture and vehicles | 24 | €18,658 | €13,581 | -€5,077 | -27.2% |
| Financial fixed assets | 28 | €850 | €0 | -€850 | -100% |
| Current assets | 29/58 | €742,187 | €679,837 | -€62,349 | -8.4% |
| Amounts receivable within one year | 40/41 | €421,189 | €378,431 | -€42,758 | -10.2% |
| Trade receivables | 40 | €375,201 | €353,282 | -€21,919 | -5.8% |
| Other amounts receivable | 41 | €45,988 | €25,150 | -€20,838 | -45.3% |
| Current investments | 50/53 | €132,500 | €132,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €163,240 | €152,311 | -€10,929 | -6.7% |
| Deferred charges and accrued income | 490/1 | €25,258 | €16,595 | -€8,663 | -34.3% |
| Total equity and liabilities | 10/49 | €787,542 | €715,443 | -€72,099 | -9.2% |
| Equity | 10/15 | €135,738 | €196,998 | +€61,260 | +45.1% |
| Contributions | 10/11 | €138,000 | €138,000 | = | 0.0% |
| Reserves | 13 | €132,500 | €132,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €132,500 | €132,500 | = | 0.0% |
| Own shares acquired | 1312 | €132,500 | €132,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,762 | -€73,502 | +€61,260 | +45.5% |
| Amounts payable | 17/49 | €651,804 | €518,445 | -€133,359 | -20.5% |
| Amounts payable after more than one year | 17 | €102,699 | €77,956 | -€24,743 | -24.1% |
| Financial debts | 170/4 | €102,699 | €77,956 | -€24,743 | -24.1% |
| Amounts payable within one year | 42/48 | €531,198 | €433,701 | -€97,497 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €219,437 | €154,969 | -€64,468 | -29.4% |
| Trade debts | 44 | €143,407 | €119,215 | -€24,192 | -16.9% |
| Suppliers | 440/4 | €143,407 | €119,215 | -€24,192 | -16.9% |
| Taxes, remuneration and social security | 45 | €163,738 | €155,180 | -€8,558 | -5.2% |
| Taxes | 450/3 | €84,763 | €89,893 | +€5,130 | +6.1% |
| Remuneration and social security | 454/9 | €78,975 | €65,286 | -€13,689 | -17.3% |
| Other amounts payable | 47/48 | €4,616 | €4,338 | -€278 | -6.0% |
| Accrued charges and deferred income | 492/3 | €17,907 | €6,788 | -€11,119 | -62.1% |
| Non-recurring operating income | 76A | €4,153 | - | -€4,153 | |
| Remuneration, social security and pensions | 62 | €700,038 | €652,490 | -€47,548 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,438 | €8,900 | -€2,538 | -22.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,253 | +€3,253 | |
| Other operating charges | 640/8 | €2,655 | €2,992 | +€338 | +12.7% |
| Gross operating margin | 9900 | €658,327 | €771,468 | +€113,141 | +17.2% |
| Operating profit (loss) | 9901 | -€55,803 | €103,833 | +€159,636 | |
| Financial income | 75/76B | €858 | €304 | -€554 | -64.6% |
| Recurring financial income | 75 | €858 | €304 | -€554 | -64.6% |
| Financial charges | 65/66B | €29,496 | €22,942 | -€6,554 | -22.2% |
| Recurring financial charges | 65 | €29,496 | €22,942 | -€6,554 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | -€84,442 | €81,195 | +€165,637 | |
| Income taxes | 67/77 | €1,571 | €19,935 | +€18,364 | +1,169% |
| Profit (loss) for the period | 9904 | -€86,013 | €61,260 | +€147,273 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,013 | €61,260 | +€147,273 |
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 14 October 2026 via checked.be.