MORA: 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.
What changed
MORA
NACE 10.130, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€12.0m
2024 · €3.7m-€15.6m
Equity
€4.9m
2024 · €16.9m-€12.0m
Cash
€1.2m
2024 · €216,891+€1.0m
Balance sheet total
€27.4m
2024 · €28.1m-€724,398
Largest movements
Assets
- Intangible fixed assets -€2.4m
down €2.4m (-18.2%), from €13.3m to €10.8m
- Cash +€1.0m
up €1.0m (+475.5%), from €216,891 to €1.2m
mainly Provisions (+€15.0m) and Depreciation (+€2.7m)
- Tangible fixed assets +€575,385
up €575,385 (+22.7%), from €2.5m to €3.1m
of which Plant, machinery and equipment: +€665,030
- Receivables within one year +€298,966
up €298,966 (+4.4%), from €6.9m to €7.2m
of which Other amounts receivable: +€1.5m
Equity and liabilities
- Provisions +€15.0m
up €15.0m (+8209.2%), from €182,900 to €15.2m
- Profit (loss) carried forward -€12.0m
down €12.0m, from €8.0m to -€3.9m
- Other debts -€2.4m
down €2.4m (-73.8%), from €3.3m to €864,750
- Trade debts -€1.3m
down €1.3m (-20.8%), from €6.3m to €5.0m
Income statement
- Provisions +€15.3m
up €15.3m, from -€279,728 to €15.0m
- Turnover -€1.6m
down €1.6m (-2.7%), from €61.2m to €59.5m
- Services and other goods -€855,497
down €855,497 (-6.2%), from €13.7m to €12.9m
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
€3.7m
Turnover
-€1.6m
Other operating income
+€65,136
Goods and materials
+€478,419
Services and other goods
+€855,497
Staff costs
+€554,442
Depreciation
+€21,646
Write-downs
-€218,896
Provisions
-€15.3m
Other operating charges
-€14,211
Other operating items
-€444,024
Financial income
-€198,811
Financial charges
+€110,997
Taxes
+€74,731
Result 2025
-€12.0m
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.
From operations
+€1.9m
Investment
-€846,889
Financing
€0
Cash 2024
€216,891
From operations (derived)
+€1.9m
Net result for the year
-€12.0m
Depreciation
+€2.7m
Stocks and contracts
+€216,086
Receivables within one year
-€298,966
Deferred charges and accrued income
+€4,280
Provisions
+€15.0m
Trade debts
-€1.3m
Tax, wage and social debts
-€49,329
Other debts
-€2.4m
Investment (derived)
-€846,889
Investment in fixed assets (net)
-€846,889
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,107,395 | €27,382,997 | -€724,398 | -2.6% |
| Fixed assets | 21/28 | €15,794,449 | €13,960,198 | -€1.8m | -11.6% |
| Intangible fixed assets | 21 | €13,252,999 | €10,843,363 | -€2.4m | -18.2% |
| Tangible fixed assets | 22/27 | €2,536,277 | €3,111,662 | +€575,385 | +22.7% |
| Land and buildings | 22 | €1,121,717 | €1,406,825 | +€285,108 | +25.4% |
| Plant, machinery and equipment | 23 | €586,565 | €1,251,594 | +€665,030 | +113.4% |
| Furniture and vehicles | 24 | €73,274 | €68,271 | -€5,003 | -6.8% |
| Assets under construction and advance payments | 27 | €754,721 | €384,972 | -€369,749 | -49.0% |
| Financial fixed assets | 28 | €5,173 | €5,173 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,173 | €5,173 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,173 | €5,173 | = | 0.0% |
| Current assets | 29/58 | €12,312,946 | €13,422,799 | +€1.1m | +9.0% |
| Stocks and contracts in progress | 3 | €5,138,532 | €4,922,447 | -€216,086 | -4.2% |
| Stocks | 30/36 | €5,138,532 | €4,922,447 | -€216,086 | -4.2% |
| Raw materials and consumables | 30/31 | €514,240 | €474,740 | -€39,500 | -7.7% |
| Work in progress | 32 | €154,613 | €96,818 | -€57,795 | -37.4% |
| Finished goods | 33 | €802,739 | €548,030 | -€254,710 | -31.7% |
| Goods purchased for resale | 34 | €3,666,940 | €3,802,859 | +€135,919 | +3.7% |
| Amounts receivable within one year | 40/41 | €6,858,266 | €7,157,232 | +€298,966 | +4.4% |
| Trade receivables | 40 | €6,507,355 | €5,333,176 | -€1.2m | -18.0% |
| Other amounts receivable | 41 | €350,911 | €1,824,056 | +€1.5m | +419.8% |
| Cash at bank and in hand | 54/58 | €216,891 | €1,248,144 | +€1.0m | +475.5% |
| Deferred charges and accrued income | 490/1 | €99,257 | €94,977 | -€4,280 | -4.3% |
| Total equity and liabilities | 10/49 | €28,107,395 | €27,382,997 | -€724,398 | -2.6% |
| Equity | 10/15 | €16,866,757 | €4,916,014 | -€12.0m | -70.9% |
| Contributions | 10/11 | €8,588,356 | €8,588,356 | = | 0.0% |
| Reserves | 13 | €268,898 | €268,898 | = | 0.0% |
| Non-distributable reserves | 130/1 | €128,024 | €128,024 | = | 0.0% |
| Reserves not available under the articles | 1311 | €128,024 | €128,024 | = | 0.0% |
| Tax-exempt reserves | 132 | €140,874 | €140,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,009,503 | -€3,941,240 | -€12.0m | |
| Provisions and deferred taxes | 16 | €182,900 | €15,197,471 | +€15.0m | +8209.2% |
| Provisions for liabilities and charges | 160/5 | €182,900 | €15,197,471 | +€15.0m | +8209.2% |
| Other liabilities and charges | 164/5 | €182,900 | €15,197,471 | +€15.0m | +8209.2% |
| Amounts payable | 17/49 | €11,057,738 | €7,269,512 | -€3.8m | -34.3% |
| Amounts payable within one year | 42/48 | €11,057,738 | €7,269,512 | -€3.8m | -34.3% |
| Trade debts | 44 | €6,255,750 | €4,953,840 | -€1.3m | -20.8% |
| Suppliers | 440/4 | €6,255,750 | €4,953,840 | -€1.3m | -20.8% |
| Taxes, remuneration and social security | 45 | €1,500,250 | €1,450,922 | -€49,329 | -3.3% |
| Taxes | 450/3 | €49,412 | €347,980 | +€298,568 | +604.2% |
| Remuneration and social security | 454/9 | €1,450,839 | €1,102,942 | -€347,897 | -24.0% |
| Other amounts payable | 47/48 | €3,301,738 | €864,750 | -€2.4m | -73.8% |
| Operating income | 70/76A | €61,747,167 | €59,738,758 | -€2.0m | -3.3% |
| Turnover | 70 | €61,156,627 | €59,527,107 | -€1.6m | -2.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €24,311 | -€419,713 | -€444,024 | |
| Other operating income | 74 | €566,229 | €631,364 | +€65,136 | +11.5% |
| Operating charges | 60/66A | €55,437,908 | €69,055,311 | +€13.6m | +24.6% |
| Goods for resale, raw materials and consumables | 60 | €32,720,903 | €32,242,484 | -€478,419 | -1.5% |
| Purchases | 600/8 | €32,966,658 | €32,371,722 | -€594,936 | -1.8% |
| Change in stocks: decrease (increase) | 609 | -€245,755 | -€129,238 | +€116,516 | +47.4% |
| Services and other goods | 61 | €13,737,509 | €12,882,012 | -€855,497 | -6.2% |
| Remuneration, social security and pensions | 62 | €6,573,737 | €6,019,295 | -€554,442 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,702,786 | €2,681,140 | -€21,646 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€160,445 | €58,451 | +€218,896 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€279,728 | €15,014,571 | +€15.3m | |
| Other operating charges | 640/8 | €143,146 | €157,357 | +€14,211 | +9.9% |
| Operating profit (loss) | 9901 | €6,309,259 | -€9,316,553 | -€15.6m | |
| Financial income | 75/76B | €198,811 | - | -€198,811 | |
| Recurring financial income | 75 | €198,811 | - | -€198,811 | |
| Income from current assets | 751 | €198,811 | - | -€198,811 | |
| Financial charges | 65/66B | €755,781 | €644,785 | -€110,997 | -14.7% |
| Recurring financial charges | 65 | €755,781 | €644,785 | -€110,997 | -14.7% |
| Debt charges | 650 | €114,144 | €37,213 | -€76,932 | -67.4% |
| Other financial charges | 652/9 | €641,637 | €607,572 | -€34,065 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €5,752,289 | -€9,961,337 | -€15.7m | |
| Income taxes | 67/77 | €2,064,136 | €1,989,405 | -€74,731 | -3.6% |
| Taxes | 670/3 | €2,064,136 | €1,989,405 | -€74,731 | -3.6% |
| Profit (loss) for the period | 9904 | €3,688,153 | -€11,950,743 | -€15.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €3,688,153 | -€11,950,743 | -€15.6m |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.