Morea: 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.
Morea
Largest movements
- Receivables within one year -€23,489
down €23,489 (-25.3%), from €92,886 to €69,397
of which Trade receivables: -€41,315
- Tangible fixed assets -€14,486
down €14,486 (-31.8%), from €45,620 to €31,134
of which Furniture and vehicles: -€14,107
- Deferred charges and accrued income +€2,842
up €2,842 (+272.9%), from €1,042 to €3,884
- Cash +€2,117
up €2,117 (+134.1%), from €1,579 to €3,695
mainly Trade debts (+€26,891) and Receivables within one year (+€23,489)
- Trade debts +€26,891
up €26,891 (+2280.3%), from €1,179 to €28,070
- Short-term financial debts -€18,500
no longer reported in 2025 (was €18,500)
- Debts after one year -€16,793
down €16,793 (-85.3%), from €19,676 to €2,884
- Accrued charges and deferred income -€15,076
no longer reported in 2025 (was €15,076)
- Profit (loss) carried forward -€6,800
down €6,800 (-11.1%), from €61,463 to €54,664
- Gross operating margin -€64,968
down €64,968 (-86.2%), from €75,403 to €10,435
- Taxes -€11,755
down €11,755 (-98.8%), from €11,901 to €146
- Financial income +€1,122
up €1,122 (+132.0%), from €850 to €1,972
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 | €141,126 | €108,110 | -€33,017 | -23.4% |
| Fixed assets | 21/28 | €45,620 | €31,134 | -€14,486 | -31.8% |
| Tangible fixed assets | 22/27 | €45,620 | €31,134 | -€14,486 | -31.8% |
| Plant, machinery and equipment | 23 | €1,442 | €1,063 | -€379 | -26.3% |
| Furniture and vehicles | 24 | €44,179 | €30,071 | -€14,107 | -31.9% |
| Current assets | 29/58 | €95,506 | €76,976 | -€18,531 | -19.4% |
| Amounts receivable within one year | 40/41 | €92,886 | €69,397 | -€23,489 | -25.3% |
| Trade receivables | 40 | €57,232 | €15,917 | -€41,315 | -72.2% |
| Other amounts receivable | 41 | €35,654 | €53,480 | +€17,826 | +50.0% |
| Cash at bank and in hand | 54/58 | €1,579 | €3,695 | +€2,117 | +134.1% |
| Deferred charges and accrued income | 490/1 | €1,042 | €3,884 | +€2,842 | +272.9% |
| Total equity and liabilities | 10/49 | €141,126 | €108,110 | -€33,017 | -23.4% |
| Equity | 10/15 | €63,963 | €57,164 | -€6,800 | -10.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,463 | €54,664 | -€6,800 | -11.1% |
| Amounts payable | 17/49 | €77,163 | €50,946 | -€26,217 | -34.0% |
| Amounts payable after more than one year | 17 | €19,676 | €2,884 | -€16,793 | -85.3% |
| Financial debts | 170/4 | €19,676 | €2,884 | -€16,793 | -85.3% |
| Amounts payable within one year | 42/48 | €42,411 | €48,062 | +€5,651 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €15,948 | €16,793 | +€845 | +5.3% |
| Financial debts | 43 | €18,500 | - | -€18,500 | |
| Other loans | 439 | €18,500 | - | -€18,500 | |
| Trade debts | 44 | €1,179 | €28,070 | +€26,891 | +2280.3% |
| Suppliers | 440/4 | €1,179 | €28,070 | +€26,891 | +2280.3% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €6,202 | €1,200 | -€5,002 | -80.7% |
| Taxes | 450/3 | €6,202 | - | -€6,202 | |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Other amounts payable | 47/48 | €583 | - | -€583 | |
| Accrued charges and deferred income | 492/3 | €15,076 | - | -€15,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,373 | €14,486 | +€114 | +0.8% |
| Other operating charges | 640/8 | €2,141 | €2,371 | +€230 | +10.7% |
| Gross operating margin | 9900 | €75,403 | €10,435 | -€64,968 | -86.2% |
| Operating profit (loss) | 9901 | €58,889 | -€6,422 | -€65,311 | |
| Financial income | 75/76B | €850 | €1,972 | +€1,122 | +132.0% |
| Recurring financial income | 75 | €850 | €1,972 | +€1,122 | +132.0% |
| Financial charges | 65/66B | €2,449 | €2,203 | -€246 | -10.0% |
| Recurring financial charges | 65 | €2,449 | €2,203 | -€246 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €57,290 | -€6,654 | -€63,944 | |
| Income taxes | 67/77 | €11,901 | €146 | -€11,755 | -98.8% |
| Profit (loss) for the period | 9904 | €45,390 | -€6,800 | -€52,189 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,390 | -€6,800 | -€52,189 |
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 9 October 2026 via checked.be.