MORALO: 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.
MORALO
Largest movements
- Cash +€4,558
up €4,558 (+770.7%), from €591 to €5,149
mainly Other debts (+€9,435) and Tax, wage and social debts (+€1,038)
- Receivables within one year +€465
up €465 (+34.5%), from €1,350 to €1,815
of which Trade receivables: +€1,700
- Tangible fixed assets -€216
down €216 (-27.0%), from €801 to €585
of which Furniture and vehicles: -€216
- Other debts +€9,435
up €9,435 (+36.4%), from €25,900 to €35,335
- Profit (loss) carried forward -€4,081
down €4,081 (-13.2%), from -€30,862 to -€34,943
- Trade debts -€1,534
down €1,534 (-100.0%), from €1,534 to €0
- Tax, wage and social debts +€1,038
new in 2025: €1,038
- Short-term financial debts -€79
down €79 (-84.1%), from €94 to €15
- Gross operating margin +€2,499
up €2,499 (+43.3%), from -€5,770 to -€3,271
- Depreciation -€391
down €391 (-64.4%), from €608 to €216
- Other operating charges -€228
down €228 (-29.5%), from €772 to €544
- Financial charges -€130
down €130 (-72.4%), from €180 to €50
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 | €2,866 | €7,646 | +€4,780 | +166.8% |
| Fixed assets | 21/28 | €801 | €585 | -€216 | -27.0% |
| Tangible fixed assets | 22/27 | €801 | €585 | -€216 | -27.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €801 | €585 | -€216 | -27.0% |
| Current assets | 29/58 | €2,064 | €7,060 | +€4,996 | +242.0% |
| Amounts receivable within one year | 40/41 | €1,350 | €1,815 | +€465 | +34.5% |
| Trade receivables | 40 | €115 | €1,815 | +€1,700 | +1481.7% |
| Other amounts receivable | 41 | €1,235 | €0 | -€1,235 | -100.0% |
| Cash at bank and in hand | 54/58 | €591 | €5,149 | +€4,558 | +770.7% |
| Deferred charges and accrued income | 490/1 | €123 | €96 | -€27 | -21.8% |
| Total equity and liabilities | 10/49 | €2,866 | €7,646 | +€4,780 | +166.8% |
| Equity | 10/15 | -€24,662 | -€28,743 | -€4,081 | -16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,862 | -€34,943 | -€4,081 | -13.2% |
| Amounts payable | 17/49 | €27,528 | €36,389 | +€8,861 | +32.2% |
| Amounts payable within one year | 42/48 | €27,528 | €36,389 | +€8,861 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €94 | €15 | -€79 | -84.1% |
| Credit institutions | 430/8 | €94 | €15 | -€79 | -84.1% |
| Trade debts | 44 | €1,534 | €0 | -€1,534 | -100.0% |
| Suppliers | 440/4 | €1,534 | €0 | -€1,534 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €1,038 | +€1,038 | |
| Taxes | 450/3 | - | €1,038 | +€1,038 | |
| Other amounts payable | 47/48 | €25,900 | €35,335 | +€9,435 | +36.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €608 | €216 | -€391 | -64.4% |
| Other operating charges | 640/8 | €772 | €544 | -€228 | -29.5% |
| Gross operating margin | 9900 | -€5,770 | -€3,271 | +€2,499 | +43.3% |
| Operating profit (loss) | 9901 | -€7,150 | -€4,031 | +€3,118 | +43.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €180 | €50 | -€130 | -72.4% |
| Recurring financial charges | 65 | €180 | €50 | -€130 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,330 | -€4,081 | +€3,249 | +44.3% |
| Profit (loss) for the period | 9904 | -€7,330 | -€4,081 | +€3,249 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,330 | -€4,081 | +€3,249 | +44.3% |
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 7 October 2026 via checked.be.