Moreau T: 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 T
Largest movements
- Tangible fixed assets +€39,157
up €39,157 (+6.8%), from €576,979 to €616,135
of which Assets under construction and advance payments: +€51,323
- Cash -€14,237
down €14,237 (-42.2%), from €33,765 to €19,528
mainly Debts after one year (-€53,869) and Investment in fixed assets (net) (-€53,599)
- Receivables within one year +€12,943
up €12,943 (+56.2%), from €23,025 to €35,968
of which Trade receivables: +€12,943
- Debts after one year -€53,869
down €53,869 (-12.1%), from €444,707 to €390,838
- Trade debts +€30,558
up €30,558 (+2,173%), from €1,407 to €31,965
- Profit (loss) carried forward +€20,037
up €20,037 (+16.8%), from €119,105 to €139,142
- Other debts +€15,484
up €15,484 (+214%), from €7,238 to €22,722
- Accrued charges and deferred income +€15,000
new in 2025: €15,000
- Gross operating margin +€45,542
up €45,542 (+79.4%), from €57,356 to €102,898
- Taxes +€15,820
up €15,820 (+249%), from €6,354 to €22,174
- Staff costs +€11,882
up €11,882 (+3,091%), from €384 to €12,266
- Financial charges -€2,452
down €2,452 (-17.9%), from €13,714 to €11,262
- Other operating charges +€1,638
up €1,638 (+150%), from €1,089 to €2,726
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 | €633,768 | €671,632 | +€37,863 | +6.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €576,979 | €616,135 | +€39,157 | +6.8% |
| Tangible fixed assets | 22/27 | €576,979 | €616,135 | +€39,157 | +6.8% |
| Land and buildings | 22 | €576,035 | €561,997 | -€14,038 | -2.4% |
| Furniture and vehicles | 24 | €944 | €2,815 | +€1,871 | +198% |
| Assets under construction and advance payments | 27 | - | €51,323 | +€51,323 | |
| Current assets | 29/58 | €56,790 | €55,496 | -€1,293 | -2.3% |
| Amounts receivable within one year | 40/41 | €23,025 | €35,968 | +€12,943 | +56.2% |
| Trade receivables | 40 | €23,025 | €35,968 | +€12,943 | +56.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €33,765 | €19,528 | -€14,237 | -42.2% |
| Total equity and liabilities | 10/49 | €633,768 | €671,632 | +€37,863 | +6.0% |
| Equity | 10/15 | €139,105 | €159,142 | +€20,037 | +14.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,105 | €139,142 | +€20,037 | +16.8% |
| Amounts payable | 17/49 | €494,664 | €512,490 | +€17,827 | +3.6% |
| Amounts payable after more than one year | 17 | €444,707 | €390,838 | -€53,869 | -12.1% |
| Financial debts | 170/4 | €444,707 | €390,838 | -€53,869 | -12.1% |
| Amounts payable within one year | 42/48 | €49,957 | €106,653 | +€56,696 | +113% |
| Current portion of amounts payable after more than one year | 42 | €33,627 | €33,869 | +€242 | +0.7% |
| Trade debts | 44 | €1,407 | €31,965 | +€30,558 | +2,173% |
| Suppliers | 440/4 | €1,407 | €31,965 | +€30,558 | +2,173% |
| Taxes, remuneration and social security | 45 | €7,685 | €18,097 | +€10,411 | +135% |
| Taxes | 450/3 | €7,685 | €9,917 | +€2,232 | +29.0% |
| Remuneration and social security | 454/9 | - | €8,179 | +€8,179 | |
| Other amounts payable | 47/48 | €7,238 | €22,722 | +€15,484 | +214% |
| Accrued charges and deferred income | 492/3 | - | €15,000 | +€15,000 | |
| Non-recurring operating income | 76A | €6,140 | - | -€6,140 | |
| Remuneration, social security and pensions | 62 | €384 | €12,266 | +€11,882 | +3,091% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,363 | €14,442 | +€79 | +0.6% |
| Other operating charges | 640/8 | €1,089 | €2,726 | +€1,638 | +150% |
| Gross operating margin | 9900 | €57,356 | €102,898 | +€45,542 | +79.4% |
| Operating profit (loss) | 9901 | €41,520 | €73,463 | +€31,943 | +76.9% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €13,714 | €11,262 | -€2,452 | -17.9% |
| Recurring financial charges | 65 | €13,714 | €11,262 | -€2,452 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €27,806 | €62,211 | +€34,405 | +124% |
| Income taxes | 67/77 | €6,354 | €22,174 | +€15,820 | +249% |
| Profit (loss) for the period | 9904 | €21,452 | €40,037 | +€18,585 | +86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,452 | €40,037 | +€18,585 | +86.6% |
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 15 October 2026 via checked.be.