MOREBI: 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.
MOREBI
Largest movements
- Cash +€100,539
up €100,539 (+27.0%), from €372,074 to €472,613
mainly Net result for the year (+€118,384) and Receivables after one year (+€82,060)
- Receivables after one year -€82,060
down €82,060 (-100%), from €82,060 to €0
- Receivables within one year +€49,928
up €49,928 (+95.5%), from €52,307 to €102,235
of which Other amounts receivable: +€35,010
- Deferred charges and accrued income -€6,072
down €6,072 (-66.9%), from €9,081 to €3,009
- Reserves +€47,560
up €47,560 (+9.2%), from €517,265 to €564,826
- Gross operating margin +€38,089
up €38,089 (+26.6%), from €143,347 to €181,436
- Taxes +€11,354
up €11,354 (+28.2%), from €40,260 to €51,614
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 | €548,090 | €606,947 | +€58,857 | +10.7% |
| Fixed assets | 21/28 | €32,567 | €29,090 | -€3,477 | -10.7% |
| Tangible fixed assets | 22/27 | €31,562 | €28,085 | -€3,477 | -11.0% |
| Plant, machinery and equipment | 23 | €563 | €222 | -€341 | -60.5% |
| Furniture and vehicles | 24 | €28,380 | €16,742 | -€11,638 | -41.0% |
| Leasing and similar rights | 25 | - | €9,406 | +€9,406 | |
| Other tangible fixed assets | 26 | €2,619 | €1,715 | -€904 | -34.5% |
| Financial fixed assets | 28 | €1,005 | €1,005 | = | 0.0% |
| Current assets | 29/58 | €515,522 | €577,857 | +€62,335 | +12.1% |
| Amounts receivable after more than one year | 29 | €82,060 | €0 | -€82,060 | -100% |
| Other amounts receivable | 291 | €82,060 | €0 | -€82,060 | -100% |
| Amounts receivable within one year | 40/41 | €52,307 | €102,235 | +€49,928 | +95.5% |
| Trade receivables | 40 | €47,027 | €61,945 | +€14,918 | +31.7% |
| Other amounts receivable | 41 | €5,281 | €40,290 | +€35,010 | +663% |
| Cash at bank and in hand | 54/58 | €372,074 | €472,613 | +€100,539 | +27.0% |
| Deferred charges and accrued income | 490/1 | €9,081 | €3,009 | -€6,072 | -66.9% |
| Total equity and liabilities | 10/49 | €548,090 | €606,947 | +€58,857 | +10.7% |
| Equity | 10/15 | €529,665 | €577,226 | +€47,560 | +9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €517,265 | €564,826 | +€47,560 | +9.2% |
| Distributable reserves | 133 | €517,265 | €564,826 | +€47,560 | +9.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,424 | €29,721 | +€11,297 | +61.3% |
| Amounts payable after more than one year | 17 | - | €5,990 | +€5,990 | |
| Financial debts | 170/4 | - | €5,990 | +€5,990 | |
| Amounts payable within one year | 42/48 | €18,424 | €23,731 | +€5,307 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,279 | +€4,279 | |
| Financial debts | 43 | €230 | €43 | -€187 | -81.3% |
| Credit institutions | 430/8 | €230 | €43 | -€187 | -81.3% |
| Trade debts | 44 | €1,912 | €1,961 | +€49 | +2.5% |
| Suppliers | 440/4 | €1,912 | €1,961 | +€49 | +2.5% |
| Taxes, remuneration and social security | 45 | €16,282 | €17,448 | +€1,166 | +7.2% |
| Taxes | 450/3 | €16,282 | €17,448 | +€1,166 | +7.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,292 | €13,774 | +€482 | +3.6% |
| Other operating charges | 640/8 | €839 | €1,550 | +€711 | +84.8% |
| Non-recurring operating charges | 66A | €1,624 | €1,429 | -€195 | -12.0% |
| Gross operating margin | 9900 | €143,347 | €181,436 | +€38,089 | +26.6% |
| Operating profit (loss) | 9901 | €127,591 | €164,683 | +€37,091 | +29.1% |
| Financial income | 75/76B | €5,104 | €5,393 | +€289 | +5.7% |
| Recurring financial income | 75 | €5,104 | €5,393 | +€289 | +5.7% |
| Financial charges | 65/66B | €75 | €78 | +€3 | +4.1% |
| Recurring financial charges | 65 | €75 | €78 | +€3 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €132,620 | €169,997 | +€37,377 | +28.2% |
| Income taxes | 67/77 | €40,260 | €51,614 | +€11,354 | +28.2% |
| Profit (loss) for the period | 9904 | €92,361 | €118,384 | +€26,023 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €92,361 | €118,384 | +€26,023 | +28.2% |
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 15 October 2026 via checked.be.