MOREAU-JACO: 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.
MOREAU-JACO
Largest movements
- Stocks and contracts +€207,000
up €207,000 (+16.0%), from €1.3m to €1.5m
- Other debts +€259,049
up €259,049 (+123%), from €209,858 to €468,907
- Trade debts -€39,279
down €39,279 (-91.9%), from €42,720 to €3,441
- Gross operating margin -€22,256
down €22,256 (-38.3%), from €58,053 to €35,797
- Write-downs -€17,415
no longer reported in 2025 (was €17,415)
- Financial charges -€1,044
down €1,044 (-2.9%), from €36,256 to €35,212
- Taxes -€753
down €753 (-96.9%), from €777 to €24
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,306,186 | €1,524,723 | +€218,537 | +16.7% |
| Fixed assets | 21/28 | €232 | - | -€232 | |
| Financial fixed assets | 28 | €232 | - | -€232 | |
| Current assets | 29/58 | €1,305,954 | €1,524,723 | +€218,769 | +16.8% |
| Stocks and contracts in progress | 3 | €1,290,000 | €1,497,000 | +€207,000 | +16.0% |
| Stocks | 30/36 | €1,290,000 | €1,497,000 | +€207,000 | +16.0% |
| Amounts receivable within one year | 40/41 | €15,954 | €27,723 | +€11,769 | +73.8% |
| Trade receivables | 40 | €15,000 | €27,000 | +€12,000 | +80.0% |
| Other amounts receivable | 41 | €954 | €723 | -€231 | -24.2% |
| Total equity and liabilities | 10/49 | €1,306,186 | €1,524,723 | +€218,537 | +16.7% |
| Equity | 10/15 | €23,162 | €23,229 | +€67 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,562 | €4,629 | +€67 | +1.5% |
| Amounts payable | 17/49 | €1,283,024 | €1,501,494 | +€218,470 | +17.0% |
| Amounts payable within one year | 42/48 | €1,283,024 | €1,501,494 | +€218,470 | +17.0% |
| Financial debts | 43 | €1,029,668 | €1,028,344 | -€1,324 | -0.1% |
| Credit institutions | 430/8 | €1,029,668 | €1,028,344 | -€1,324 | -0.1% |
| Trade debts | 44 | €42,720 | €3,441 | -€39,279 | -91.9% |
| Suppliers | 440/4 | €42,720 | €3,441 | -€39,279 | -91.9% |
| Taxes, remuneration and social security | 45 | €778 | €802 | +€24 | +3.1% |
| Taxes | 450/3 | €778 | €802 | +€24 | +3.1% |
| Other amounts payable | 47/48 | €209,858 | €468,907 | +€259,049 | +123% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,415 | - | -€17,415 | |
| Other operating charges | 640/8 | €387 | €494 | +€107 | +27.6% |
| Gross operating margin | 9900 | €58,053 | €35,797 | -€22,256 | -38.3% |
| Operating profit (loss) | 9901 | €40,251 | €35,303 | -€4,948 | -12.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €36,256 | €35,212 | -€1,044 | -2.9% |
| Recurring financial charges | 65 | €36,256 | €35,212 | -€1,044 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €3,996 | €91 | -€3,905 | -97.7% |
| Income taxes | 67/77 | €777 | €24 | -€753 | -96.9% |
| Profit (loss) for the period | 9904 | €3,219 | €67 | -€3,152 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,219 | €67 | -€3,152 | -97.9% |
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 26 October 2026 via checked.be.