MORDANT: 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.
MORDANT
Largest movements
- Current investments -€450,000
down €450,000 (-100%), from €450,000 to €0
- Receivables within one year +€208,717
up €208,717 (+304%), from €68,646 to €277,363
of which Other amounts receivable: +€260,610
- Tangible fixed assets -€48,330
down €48,330 (-4.7%), from €1.0m to €981,584
of which Land and buildings: -€34,062
- Other debts -€110,222
down €110,222 (-81.3%), from €135,634 to €25,412
- Debts after one year -€55,284
down €55,284 (-11.0%), from €504,592 to €449,308
- Profit (loss) carried forward -€37,932
down €37,932, from €1,892 to -€36,040
- Trade debts -€29,552
down €29,552 (-67.2%), from €43,955 to €14,403
- Tax, wage and social debts -€18,286
down €18,286 (-100%), from €18,286 to €0
of which Taxes: -€18,286
- Financial income +€6,607
up €6,607 (+61.8%), from €10,686 to €17,294
- Gross operating margin -€6,161
down €6,161 (-20.4%), from €30,238 to €24,077
- Taxes -€4,707
down €4,707, from €3,192 to -€1,515
- Depreciation -€2,304
down €2,304 (-3.3%), from €70,519 to €68,215
- Other operating charges +€1,621
up €1,621 (+23.9%), from €6,793 to €8,414
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 | €1,557,273 | €1,266,887 | -€290,386 | -18.6% |
| Fixed assets | 21/28 | €1,032,414 | €984,084 | -€48,330 | -4.7% |
| Tangible fixed assets | 22/27 | €1,029,914 | €981,584 | -€48,330 | -4.7% |
| Land and buildings | 22 | €998,049 | €963,987 | -€34,062 | -3.4% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €27,573 | €17,597 | -€9,976 | -36.2% |
| Leasing and similar rights | 25 | €4,293 | €0 | -€4,293 | -100% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €524,859 | €282,803 | -€242,056 | -46.1% |
| Amounts receivable within one year | 40/41 | €68,646 | €277,363 | +€208,717 | +304% |
| Trade receivables | 40 | €63,639 | €11,745 | -€51,893 | -81.5% |
| Other amounts receivable | 41 | €5,007 | €265,617 | +€260,610 | +5,205% |
| Current investments | 50/53 | €450,000 | €0 | -€450,000 | -100% |
| Cash at bank and in hand | 54/58 | €3,679 | €1,701 | -€1,978 | -53.8% |
| Deferred charges and accrued income | 490/1 | €2,534 | €3,739 | +€1,205 | +47.6% |
| Total equity and liabilities | 10/49 | €1,557,273 | €1,266,887 | -€290,386 | -18.6% |
| Equity | 10/15 | €695,068 | €642,735 | -€52,333 | -7.5% |
| Contributions | 10/11 | €11,800 | €11,800 | = | 0.0% |
| Reserves | 13 | €681,376 | €666,975 | -€14,401 | -2.1% |
| Tax-exempt reserves | 132 | €248,008 | €233,608 | -€14,401 | -5.8% |
| Distributable reserves | 133 | €433,367 | €433,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,892 | -€36,040 | -€37,932 | |
| Provisions and deferred taxes | 16 | €82,669 | €77,869 | -€4,800 | -5.8% |
| Deferred taxes | 168 | €82,669 | €77,869 | -€4,800 | -5.8% |
| Amounts payable | 17/49 | €779,536 | €546,283 | -€233,253 | -29.9% |
| Amounts payable after more than one year | 17 | €504,592 | €449,308 | -€55,284 | -11.0% |
| Financial debts | 170/4 | €504,592 | €449,308 | -€55,284 | -11.0% |
| Amounts payable within one year | 42/48 | €274,944 | €96,974 | -€177,969 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €71,021 | €57,159 | -€13,862 | -19.5% |
| Financial debts | 43 | €6,048 | €0 | -€6,048 | -100% |
| Credit institutions | 430/8 | €6,048 | €0 | -€6,048 | -100% |
| Trade debts | 44 | €43,955 | €14,403 | -€29,552 | -67.2% |
| Suppliers | 440/4 | €43,955 | €14,403 | -€29,552 | -67.2% |
| Taxes, remuneration and social security | 45 | €18,286 | €0 | -€18,286 | -100% |
| Taxes | 450/3 | €18,286 | €0 | -€18,286 | -100% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €135,634 | €25,412 | -€110,222 | -81.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,519 | €68,215 | -€2,304 | -3.3% |
| Other operating charges | 640/8 | €6,793 | €8,414 | +€1,621 | +23.9% |
| Non-recurring operating charges | 66A | - | €570 | +€570 | |
| Gross operating margin | 9900 | €30,238 | €24,077 | -€6,161 | -20.4% |
| Operating profit (loss) | 9901 | -€47,074 | -€53,122 | -€6,048 | -12.8% |
| Financial income | 75/76B | €10,686 | €17,294 | +€6,607 | +61.8% |
| Recurring financial income | 75 | €10,686 | €17,294 | +€6,607 | +61.8% |
| Financial charges | 65/66B | €23,410 | €22,819 | -€590 | -2.5% |
| Recurring financial charges | 65 | €23,410 | €22,819 | -€590 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | -€59,797 | -€58,648 | +€1,149 | +1.9% |
| Transfer from deferred taxes | 780 | €4,800 | €4,800 | = | 0.0% |
| Income taxes | 67/77 | €3,192 | -€1,515 | -€4,707 | |
| Profit (loss) for the period | 9904 | -€58,189 | -€52,333 | +€5,856 | +10.1% |
| Transfer from tax-exempt reserves | 789 | €14,401 | €14,401 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,788 | -€37,932 | +€5,856 | +13.4% |
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 27 October 2026 via checked.be.