MORE M - SC: 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 M - SC
Largest movements
- Tangible fixed assets +€62,276
up €62,276 (+13.6%), from €457,552 to €519,828
of which Furniture and vehicles: +€76,113
- Cash -€51,670
down €51,670 (-31.0%), from €166,853 to €115,183
mainly Investment in fixed assets (net) (-€84,871) and Tax, wage and social debts (-€10,104)
- Receivables within one year +€7,261
up €7,261 (+29.2%), from €24,895 to €32,156
of which Other amounts receivable: +€9,028
- Other debts +€19,323
up €19,323 (+5.2%), from €371,775 to €391,098
- Tax, wage and social debts -€10,104
down €10,104 (-57.1%), from €17,696 to €7,592
- Profit (loss) carried forward +€7,335
up €7,335 (+5.9%), from €124,015 to €131,350
- Gross operating margin -€23,926
down €23,926 (-30.1%), from €79,402 to €55,476
- Financial charges +€20,640
up €20,640 (+4,364%), from €473 to €21,113
of which Non-recurring financial charges: +€20,929
- Taxes -€10,967
down €10,967 (-76.1%), from €14,420 to €3,453
- Depreciation -€1,307
down €1,307 (-5.5%), from €23,902 to €22,595
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 | €668,517 | €690,550 | +€22,033 | +3.3% |
| Fixed assets | 21/28 | €459,227 | €521,503 | +€62,276 | +13.6% |
| Tangible fixed assets | 22/27 | €457,552 | €519,828 | +€62,276 | +13.6% |
| Land and buildings | 22 | €441,831 | €430,995 | -€10,836 | -2.5% |
| Plant, machinery and equipment | 23 | €8,300 | €5,299 | -€3,001 | -36.2% |
| Furniture and vehicles | 24 | €7,421 | €83,534 | +€76,113 | +1,026% |
| Financial fixed assets | 28 | €1,675 | €1,675 | = | 0.0% |
| Current assets | 29/58 | €209,290 | €169,047 | -€40,243 | -19.2% |
| Amounts receivable within one year | 40/41 | €24,895 | €32,156 | +€7,261 | +29.2% |
| Trade receivables | 40 | €12,135 | €10,368 | -€1,767 | -14.6% |
| Other amounts receivable | 41 | €12,760 | €21,788 | +€9,028 | +70.8% |
| Current investments | 50/53 | €17,542 | €17,606 | +€64 | +0.4% |
| Cash at bank and in hand | 54/58 | €166,853 | €115,183 | -€51,670 | -31.0% |
| Deferred charges and accrued income | 490/1 | - | €4,102 | +€4,102 | |
| Total equity and liabilities | 10/49 | €668,517 | €690,550 | +€22,033 | +3.3% |
| Equity | 10/15 | €251,876 | €259,211 | +€7,335 | +2.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €109,269 | €109,269 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €107,410 | €107,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,015 | €131,350 | +€7,335 | +5.9% |
| Provisions and deferred taxes | 16 | €22,500 | €22,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €22,500 | €22,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €22,500 | €22,500 | = | 0.0% |
| Amounts payable | 17/49 | €394,141 | €408,839 | +€14,698 | +3.7% |
| Amounts payable after more than one year | 17 | €2,594 | €2,594 | = | 0.0% |
| Financial debts | 170/4 | €2,594 | €2,594 | = | 0.0% |
| Amounts payable within one year | 42/48 | €391,547 | €406,245 | +€14,698 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €1,251 | €1,250 | -€1 | -0.1% |
| Trade debts | 44 | €825 | €6,305 | +€5,480 | +664% |
| Suppliers | 440/4 | €825 | - | -€825 | |
| Bills of exchange payable | 441 | - | €6,305 | +€6,305 | |
| Taxes, remuneration and social security | 45 | €17,696 | €7,592 | -€10,104 | -57.1% |
| Taxes | 450/3 | €17,696 | €7,592 | -€10,104 | -57.1% |
| Other amounts payable | 47/48 | €371,775 | €391,098 | +€19,323 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,902 | €22,595 | -€1,307 | -5.5% |
| Other operating charges | 640/8 | €1,230 | €1,235 | +€5 | +0.4% |
| Gross operating margin | 9900 | €79,402 | €55,476 | -€23,926 | -30.1% |
| Operating profit (loss) | 9901 | €54,270 | €31,646 | -€22,624 | -41.7% |
| Financial income | 75/76B | €336 | €254 | -€82 | -24.4% |
| Recurring financial income | 75 | €336 | €254 | -€82 | -24.4% |
| Financial charges | 65/66B | €473 | €21,113 | +€20,640 | +4,364% |
| Recurring financial charges | 65 | €473 | €184 | -€289 | -61.1% |
| Non-recurring financial charges | 66B | - | €20,929 | +€20,929 | |
| Profit (loss) for the period before taxes | 9903 | €54,133 | €10,787 | -€43,346 | -80.1% |
| Income taxes | 67/77 | €14,420 | €3,453 | -€10,967 | -76.1% |
| Profit (loss) for the period | 9904 | €39,713 | €7,334 | -€32,379 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,713 | €7,334 | -€32,379 | -81.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.