MORE2: what changed
Two fiscal 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.
MORE2
Largest movements
- Receivables within one year +€23,619
up €23,619 (+4063.9%), from €581 to €24,200
of which Trade receivables: +€24,200
- Intangible fixed assets +€12,150
new in 2025: €12,150
- Cash -€6,470
down €6,470 (-62.8%), from €10,302 to €3,832
mainly Receivables within one year (-€23,619) and Investment in fixed assets (net) (-€18,926)
- Tangible fixed assets -€5,525
down €5,525 (-13.2%), from €41,976 to €36,451
of which Furniture and vehicles: -€3,353
- Other debts +€14,884
up €14,884 (+47.1%), from €31,571 to €46,456
- Profit (loss) carried forward +€9,462
up €9,462, from -€2,659 to €6,803
- Trade debts -€8,459
down €8,459 (-33.0%), from €25,618 to €17,159
- Tax, wage and social debts +€7,886
up €7,886 (+2164.0%), from €364 to €8,250
of which Taxes: +€7,185
- Gross operating margin +€23,252
up €23,252 (+94.9%), from €24,502 to €47,754
- Depreciation +€4,949
up €4,949 (+67.3%), from €7,352 to €12,301
- Taxes +€4,239
up €4,239 (+7469.2%), from €57 to €4,296
- Other operating charges +€1,588
up €1,588 (+402.0%), from €395 to €1,983
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 | €54,895 | €78,668 | +€23,774 | +43.3% |
| Fixed assets | 21/28 | €44,011 | €50,636 | +€6,625 | +15.1% |
| Intangible fixed assets | 21 | - | €12,150 | +€12,150 | |
| Tangible fixed assets | 22/27 | €41,976 | €36,451 | -€5,525 | -13.2% |
| Plant, machinery and equipment | 23 | €15,123 | €12,950 | -€2,173 | -14.4% |
| Furniture and vehicles | 24 | €26,853 | €23,501 | -€3,353 | -12.5% |
| Financial fixed assets | 28 | €2,035 | €2,035 | = | 0.0% |
| Current assets | 29/58 | €10,883 | €28,032 | +€17,149 | +157.6% |
| Amounts receivable within one year | 40/41 | €581 | €24,200 | +€23,619 | +4063.9% |
| Trade receivables | 40 | - | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | €581 | - | -€581 | |
| Cash at bank and in hand | 54/58 | €10,302 | €3,832 | -€6,470 | -62.8% |
| Total equity and liabilities | 10/49 | €54,895 | €78,668 | +€23,774 | +43.3% |
| Equity | 10/15 | -€2,659 | €6,803 | +€9,462 | |
| Profit (loss) carried forward | 14 | -€2,659 | €6,803 | +€9,462 | |
| Amounts payable | 17/49 | €57,554 | €71,865 | +€14,312 | +24.9% |
| Amounts payable within one year | 42/48 | €57,554 | €71,865 | +€14,312 | +24.9% |
| Trade debts | 44 | €25,618 | €17,159 | -€8,459 | -33.0% |
| Suppliers | 440/4 | €25,618 | €17,159 | -€8,459 | -33.0% |
| Taxes, remuneration and social security | 45 | €364 | €8,250 | +€7,886 | +2164.0% |
| Taxes | 450/3 | €68 | €7,253 | +€7,185 | +10558.0% |
| Remuneration and social security | 454/9 | €296 | €998 | +€701 | +236.6% |
| Other amounts payable | 47/48 | €31,571 | €46,456 | +€14,884 | +47.1% |
| Remuneration, social security and pensions | 62 | €19,321 | €19,666 | +€345 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,352 | €12,301 | +€4,949 | +67.3% |
| Other operating charges | 640/8 | €395 | €1,983 | +€1,588 | +402.0% |
| Gross operating margin | 9900 | €24,502 | €47,754 | +€23,252 | +94.9% |
| Operating profit (loss) | 9901 | -€2,566 | €13,804 | +€16,370 | |
| Financial charges | 65/66B | €36 | €47 | +€10 | +28.1% |
| Recurring financial charges | 65 | €36 | €47 | +€10 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,602 | €13,757 | +€16,360 | |
| Income taxes | 67/77 | €57 | €4,296 | +€4,239 | +7469.2% |
| Profit (loss) for the period | 9904 | -€2,659 | €9,462 | +€12,121 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,659 | €9,462 | +€12,121 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.