MORALEC INTERNATIONAL: 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.
MORALEC INTERNATIONAL
Largest movements
- Stocks and contracts -€44,637
down €44,637 (-5.7%), from €783,523 to €738,885
- Receivables within one year +€40,355
up €40,355 (+4.9%), from €826,289 to €866,643
of which Trade receivables: +€83,672
- Trade debts +€74,609
up €74,609 (+4.7%), from €1.6m to €1.7m
- Profit (loss) carried forward -€62,205
down €62,205 (-276%), from -€22,559 to -€84,764
- Tax, wage and social debts +€53,393
up €53,393 (+1,707%), from €3,128 to €56,521
- Other debts -€53,239
down €53,239 (-100%), from €53,239 to €0
- Taxes +€72,789
up €72,789 (+10,613%), from €686 to €73,475
- Gross operating margin -€17,771
down €17,771 (-45.1%), from €39,367 to €21,596
- Write-downs -€5,871
down €5,871 (-100%), from €5,871 to €0
- Other operating charges +€3,860
up €3,860 (+158%), from €2,441 to €6,302
- Financial income -€707
down €707 (-76.2%), from €928 to €221
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 | €1,634,384 | €1,646,888 | +€12,504 | +0.8% |
| Fixed assets | 21/28 | €9,667 | €12,270 | +€2,603 | +26.9% |
| Tangible fixed assets | 22/27 | €2,464 | €5,067 | +€2,603 | +106% |
| Plant, machinery and equipment | 23 | €1,260 | €900 | -€360 | -28.6% |
| Furniture and vehicles | 24 | €1,204 | €4,167 | +€2,963 | +246% |
| Financial fixed assets | 28 | €7,203 | €7,203 | = | 0.0% |
| Current assets | 29/58 | €1,624,717 | €1,634,618 | +€9,902 | +0.6% |
| Stocks and contracts in progress | 3 | €783,523 | €738,885 | -€44,637 | -5.7% |
| Stocks | 30/36 | €783,523 | €738,885 | -€44,637 | -5.7% |
| Amounts receivable within one year | 40/41 | €826,289 | €866,643 | +€40,355 | +4.9% |
| Trade receivables | 40 | €676,269 | €759,941 | +€83,672 | +12.4% |
| Other amounts receivable | 41 | €150,019 | €106,702 | -€43,317 | -28.9% |
| Cash at bank and in hand | 54/58 | €11,848 | €26,879 | +€15,031 | +127% |
| Deferred charges and accrued income | 490/1 | €3,057 | €2,210 | -€847 | -27.7% |
| Total equity and liabilities | 10/49 | €1,634,384 | €1,646,888 | +€12,504 | +0.8% |
| Equity | 10/15 | -€4,499 | -€66,704 | -€62,205 | -1,383% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,559 | -€84,764 | -€62,205 | -276% |
| Amounts payable | 17/49 | €1,638,883 | €1,713,593 | +€74,709 | +4.6% |
| Amounts payable within one year | 42/48 | €1,638,883 | €1,713,593 | +€74,709 | +4.6% |
| Financial debts | 43 | €305 | €252 | -€53 | -17.5% |
| Credit institutions | 430/8 | €305 | €252 | -€53 | -17.5% |
| Trade debts | 44 | €1,582,211 | €1,656,820 | +€74,609 | +4.7% |
| Suppliers | 440/4 | €1,582,211 | €1,656,820 | +€74,609 | +4.7% |
| Taxes, remuneration and social security | 45 | €3,128 | €56,521 | +€53,393 | +1,707% |
| Taxes | 450/3 | €3,128 | €56,521 | +€53,393 | +1,707% |
| Other amounts payable | 47/48 | €53,239 | €0 | -€53,239 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €26,196 | €8,334 | -€17,863 | -68.2% |
| Remuneration, social security and pensions | 62 | €405 | €0 | -€405 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €585 | €913 | +€327 | +56.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,871 | €0 | -€5,871 | -100% |
| Other operating charges | 640/8 | €2,441 | €6,302 | +€3,860 | +158% |
| Non-recurring operating charges | 66A | €1,011 | €189 | -€821 | -81.3% |
| Gross operating margin | 9900 | €39,367 | €21,596 | -€17,771 | -45.1% |
| Operating profit (loss) | 9901 | €29,055 | €14,193 | -€14,862 | -51.2% |
| Financial income | 75/76B | €928 | €221 | -€707 | -76.2% |
| Recurring financial income | 75 | €928 | €221 | -€707 | -76.2% |
| Financial charges | 65/66B | €3,291 | €3,144 | -€148 | -4.5% |
| Recurring financial charges | 65 | €3,291 | €3,144 | -€148 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €26,692 | €11,270 | -€15,422 | -57.8% |
| Income taxes | 67/77 | €686 | €73,475 | +€72,789 | +10,613% |
| Profit (loss) for the period | 9904 | €26,006 | -€62,205 | -€88,210 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,006 | -€62,205 | -€88,210 |
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 30 October 2026 via checked.be.