MORAR BUSINESS: what changed
MORAR BUSINESS
Largest movements
- Receivables within one year +€44,856
up €44,856 (+54.5%), from €82,277 to €127,133
of which Other amounts receivable: +€34,528
- Tangible fixed assets -€12,823
down €12,823 (-47.3%), from €27,098 to €14,276
of which Furniture and vehicles: -€11,179
- Cash -€1,656
down €1,656 (-65.8%), from €2,516 to €859
mainly Receivables within one year (-€44,856) and Debts after one year (-€10,247)
- Profit (loss) carried forward +€32,993
up €32,993 (+49.4%), from €66,772 to €99,765
- Debts after one year -€10,247
no longer reported in 2025 (was €10,247)
- Tax, wage and social debts +€5,605
up €5,605 (+27.0%), from €20,720 to €26,325
of which Taxes: +€6,107
- Current portion of long-term debt +€2,016
up €2,016 (+17.2%), from €11,753 to €13,770
- Gross operating margin +€14,999
up €14,999 (+31.0%), from €48,312 to €63,311
- Taxes +€7,312
up €7,312 (+131%), from €5,573 to €12,885
- Other operating charges +€6,487
up €6,487 (+854%), from €760 to €7,247
- Financial income +€1,664
up €1,664 (+52.1%), from €3,194 to €4,858
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,891 | €142,268 | +€30,377 | +27.1% |
| Fixed assets | 21/28 | €27,098 | €14,276 | -€12,823 | -47.3% |
| Tangible fixed assets | 22/27 | €27,098 | €14,276 | -€12,823 | -47.3% |
| Plant, machinery and equipment | 23 | €2,539 | €896 | -€1,643 | -64.7% |
| Furniture and vehicles | 24 | €24,559 | €13,380 | -€11,179 | -45.5% |
| Current assets | 29/58 | €84,793 | €127,992 | +€43,200 | +50.9% |
| Amounts receivable within one year | 40/41 | €82,277 | €127,133 | +€44,856 | +54.5% |
| Trade receivables | 40 | €9,520 | €19,848 | +€10,328 | +108% |
| Other amounts receivable | 41 | €72,757 | €107,285 | +€34,528 | +47.5% |
| Cash at bank and in hand | 54/58 | €2,516 | €859 | -€1,656 | -65.8% |
| Total equity and liabilities | 10/49 | €111,891 | €142,268 | +€30,377 | +27.1% |
| Equity | 10/15 | €68,772 | €101,765 | +€32,993 | +48.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,772 | €99,765 | +€32,993 | +49.4% |
| Amounts payable | 17/49 | €43,119 | €40,503 | -€2,616 | -6.1% |
| Amounts payable after more than one year | 17 | €10,247 | - | -€10,247 | |
| Financial debts | 170/4 | €10,247 | - | -€10,247 | |
| Amounts payable within one year | 42/48 | €32,872 | €40,503 | +€7,630 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €11,753 | €13,770 | +€2,016 | +17.2% |
| Trade debts | 44 | €399 | €408 | +€10 | +2.4% |
| Suppliers | 440/4 | €399 | €408 | +€10 | +2.4% |
| Taxes, remuneration and social security | 45 | €20,720 | €26,325 | +€5,605 | +27.0% |
| Taxes | 450/3 | €13,259 | €19,366 | +€6,107 | +46.1% |
| Remuneration and social security | 454/9 | €7,461 | €6,959 | -€502 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,823 | €12,823 | = | 0.0% |
| Other operating charges | 640/8 | €760 | €7,247 | +€6,487 | +854% |
| Gross operating margin | 9900 | €48,312 | €63,311 | +€14,999 | +31.0% |
| Operating profit (loss) | 9901 | €34,730 | €43,242 | +€8,512 | +24.5% |
| Financial income | 75/76B | €3,194 | €4,858 | +€1,664 | +52.1% |
| Recurring financial income | 75 | €3,194 | €4,858 | +€1,664 | +52.1% |
| Financial charges | 65/66B | €2,389 | €2,222 | -€168 | -7.0% |
| Recurring financial charges | 65 | €2,389 | €2,222 | -€168 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €35,534 | €45,878 | +€10,344 | +29.1% |
| Income taxes | 67/77 | €5,573 | €12,885 | +€7,312 | +131% |
| Profit (loss) for the period | 9904 | €29,962 | €32,993 | +€3,032 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,962 | €32,993 | +€3,032 | +10.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.