MORE & CO: 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.
MORE & CO
Largest movements
- Tangible fixed assets -€136,480
down €136,480 (-27.5%), from €496,787 to €360,307
of which Land and buildings: -€169,389
- Receivables within one year +€15,563
up €15,563 (+973%), from €1,599 to €17,163
of which Trade receivables: +€7,951
- Debts after one year -€133,472
down €133,472 (-36.9%), from €362,100 to €228,627
- Trade debts +€21,649
up €21,649 (+211%), from €10,242 to €31,891
- Tax, wage and social debts -€16,683
down €16,683 (-61.8%), from €27,012 to €10,329
of which Taxes: -€15,277
- Gross operating margin -€32,805
down €32,805 (-36.0%), from €91,022 to €58,217
- Other operating charges -€20,481
down €20,481 (-66.1%), from €30,982 to €10,501
- Staff costs -€4,164
down €4,164 (-33.3%), from €12,522 to €8,359
- Depreciation -€3,100
down €3,100 (-13.2%), from €23,520 to €20,419
- Financial charges -€2,808
down €2,808 (-15.6%), from €18,034 to €15,226
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 | €659,007 | €535,827 | -€123,180 | -18.7% |
| Fixed assets | 21/28 | €647,447 | €510,967 | -€136,480 | -21.1% |
| Tangible fixed assets | 22/27 | €496,787 | €360,307 | -€136,480 | -27.5% |
| Land and buildings | 22 | €469,794 | €300,405 | -€169,389 | -36.1% |
| Plant, machinery and equipment | 23 | €7,412 | €5,877 | -€1,535 | -20.7% |
| Furniture and vehicles | 24 | - | €8,065 | +€8,065 | |
| Assets under construction and advance payments | 27 | €19,580 | €45,960 | +€26,379 | +135% |
| Financial fixed assets | 28 | €150,660 | €150,660 | = | 0.0% |
| Current assets | 29/58 | €11,560 | €24,860 | +€13,300 | +115% |
| Stocks and contracts in progress | 3 | €1,023 | €682 | -€341 | -33.3% |
| Stocks | 30/36 | €1,023 | €682 | -€341 | -33.3% |
| Amounts receivable within one year | 40/41 | €1,599 | €17,163 | +€15,563 | +973% |
| Trade receivables | 40 | €349 | €8,300 | +€7,951 | +2,279% |
| Other amounts receivable | 41 | €1,250 | €8,863 | +€7,612 | +609% |
| Cash at bank and in hand | 54/58 | €3,967 | €4,847 | +€880 | +22.2% |
| Deferred charges and accrued income | 490/1 | €4,971 | €2,168 | -€2,802 | -56.4% |
| Total equity and liabilities | 10/49 | €659,007 | €535,827 | -€123,180 | -18.7% |
| Equity | 10/15 | €179,218 | €182,600 | +€3,381 | +1.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,758 | €162,140 | +€3,381 | +2.1% |
| Amounts payable | 17/49 | €479,788 | €353,227 | -€126,561 | -26.4% |
| Amounts payable after more than one year | 17 | €362,100 | €228,627 | -€133,472 | -36.9% |
| Financial debts | 170/4 | €362,100 | €228,627 | -€133,472 | -36.9% |
| Amounts payable within one year | 42/48 | €115,641 | €124,600 | +€8,959 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €37,830 | €35,391 | -€2,439 | -6.4% |
| Trade debts | 44 | €10,242 | €31,891 | +€21,649 | +211% |
| Suppliers | 440/4 | €10,242 | €31,891 | +€21,649 | +211% |
| Taxes, remuneration and social security | 45 | €27,012 | €10,329 | -€16,683 | -61.8% |
| Taxes | 450/3 | €18,558 | €3,281 | -€15,277 | -82.3% |
| Remuneration and social security | 454/9 | €8,454 | €7,049 | -€1,406 | -16.6% |
| Other amounts payable | 47/48 | €40,557 | €46,988 | +€6,431 | +15.9% |
| Accrued charges and deferred income | 492/3 | €2,048 | - | -€2,048 | |
| Remuneration, social security and pensions | 62 | €12,522 | €8,359 | -€4,164 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,520 | €20,419 | -€3,100 | -13.2% |
| Other operating charges | 640/8 | €30,982 | €10,501 | -€20,481 | -66.1% |
| Gross operating margin | 9900 | €91,022 | €58,217 | -€32,805 | -36.0% |
| Operating profit (loss) | 9901 | €23,998 | €18,938 | -€5,060 | -21.1% |
| Financial income | 75/76B | €115 | €594 | +€479 | +415% |
| Recurring financial income | 75 | €115 | €594 | +€479 | +415% |
| Financial charges | 65/66B | €18,034 | €15,226 | -€2,808 | -15.6% |
| Recurring financial charges | 65 | €18,034 | €15,226 | -€2,808 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €6,079 | €4,307 | -€1,772 | -29.2% |
| Income taxes | 67/77 | €2,040 | €925 | -€1,115 | -54.6% |
| Profit (loss) for the period | 9904 | €4,039 | €3,381 | -€658 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,039 | €3,381 | -€658 | -16.3% |
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 18 October 2026 via checked.be.