MORANT: 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.
MORANT
Largest movements
- Financial fixed assets -€90,125
down €90,125 (-98.3%), from €91,690 to €1,565
- Stocks and contracts +€27,157
up €27,157 (+166.9%), from €16,273 to €43,430
- Receivables within one year -€11,510
down €11,510 (-74.6%), from €15,437 to €3,927
of which Other amounts receivable: -€11,510
- Tangible fixed assets -€8,532
down €8,532 (-29.4%), from €29,048 to €20,516
of which Furniture and vehicles: -€6,308
- Cash +€6,311
up €6,311 (+125.0%), from €5,050 to €11,361
mainly Investment in fixed assets (net) (+€88,725) and Other debts (+€12,341)
- Trade debts -€44,333
down €44,333 (-86.0%), from €51,549 to €7,216
- Profit (loss) carried forward -€40,008
down €40,008 (-78.6%), from -€50,902 to -€90,910
- Other debts +€12,341
up €12,341 (+371.2%), from €3,325 to €15,666
- Debts after one year -€6,223
down €6,223 (-48.0%), from €12,962 to €6,739
- Staff costs +€22,311
up €22,311 (+13.1%), from €170,884 to €193,195
- Gross operating margin +€20,002
up €20,002 (+12.8%), from €155,883 to €175,885
- Financial charges +€5,559
up €5,559 (+121.9%), from €4,562 to €10,121
- Financial income -€2,899
down €2,899 (-99.3%), from €2,919 to €20
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 | €160,457 | €80,799 | -€79,658 | -49.6% |
| Fixed assets | 21/28 | €120,738 | €22,081 | -€98,657 | -81.7% |
| Tangible fixed assets | 22/27 | €29,048 | €20,516 | -€8,532 | -29.4% |
| Land and buildings | 22 | €2,999 | €2,999 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,243 | €5,778 | -€1,465 | -20.2% |
| Furniture and vehicles | 24 | €15,769 | €9,461 | -€6,308 | -40.0% |
| Other tangible fixed assets | 26 | €3,037 | €2,278 | -€759 | -25.0% |
| Financial fixed assets | 28 | €91,690 | €1,565 | -€90,125 | -98.3% |
| Current assets | 29/58 | €39,719 | €58,718 | +€18,999 | +47.8% |
| Stocks and contracts in progress | 3 | €16,273 | €43,430 | +€27,157 | +166.9% |
| Stocks | 30/36 | €16,273 | €43,430 | +€27,157 | +166.9% |
| Amounts receivable within one year | 40/41 | €15,437 | €3,927 | -€11,510 | -74.6% |
| Trade receivables | 40 | €3,927 | €3,927 | = | 0.0% |
| Other amounts receivable | 41 | €11,510 | - | -€11,510 | |
| Cash at bank and in hand | 54/58 | €5,050 | €11,361 | +€6,311 | +125.0% |
| Deferred charges and accrued income | 490/1 | €2,959 | - | -€2,959 | |
| Total equity and liabilities | 10/49 | €160,457 | €80,799 | -€79,658 | -49.6% |
| Equity | 10/15 | €17,298 | -€22,710 | -€40,008 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,902 | -€90,910 | -€40,008 | -78.6% |
| Amounts payable | 17/49 | €143,159 | €103,509 | -€39,650 | -27.7% |
| Amounts payable after more than one year | 17 | €12,962 | €6,739 | -€6,223 | -48.0% |
| Financial debts | 170/4 | €12,962 | €6,739 | -€6,223 | -48.0% |
| Amounts payable within one year | 42/48 | €130,197 | €96,770 | -€33,427 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €6,327 | €6,389 | +€62 | +1.0% |
| Trade debts | 44 | €51,549 | €7,216 | -€44,333 | -86.0% |
| Suppliers | 440/4 | €51,549 | €7,216 | -€44,333 | -86.0% |
| Taxes, remuneration and social security | 45 | €68,996 | €67,499 | -€1,497 | -2.2% |
| Taxes | 450/3 | €32,653 | €28,917 | -€3,736 | -11.4% |
| Remuneration and social security | 454/9 | €36,343 | €38,582 | +€2,239 | +6.2% |
| Other amounts payable | 47/48 | €3,325 | €15,666 | +€12,341 | +371.2% |
| Remuneration, social security and pensions | 62 | €170,884 | €193,195 | +€22,311 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,722 | €9,932 | +€210 | +2.2% |
| Other operating charges | 640/8 | €3,615 | €2,665 | -€950 | -26.3% |
| Gross operating margin | 9900 | €155,883 | €175,885 | +€20,002 | +12.8% |
| Operating profit (loss) | 9901 | -€28,338 | -€29,907 | -€1,569 | -5.5% |
| Financial income | 75/76B | €2,919 | €20 | -€2,899 | -99.3% |
| Recurring financial income | 75 | €2,919 | €20 | -€2,899 | -99.3% |
| Financial charges | 65/66B | €4,562 | €10,121 | +€5,559 | +121.9% |
| Recurring financial charges | 65 | €4,562 | €10,121 | +€5,559 | +121.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,981 | -€40,008 | -€10,027 | -33.4% |
| Income taxes | 67/77 | €268 | - | -€268 | |
| Profit (loss) for the period | 9904 | -€30,249 | -€40,008 | -€9,759 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,249 | -€40,008 | -€9,759 | -32.3% |
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 10 October 2026 via checked.be.