MOREELS: 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.
MOREELS
Largest movements
- Cash -€5,220
down €5,220 (-90.5%), from €5,766 to €547
mainly Net result for the year (-€6,111) and Tax, wage and social debts (-€4,517)
- Receivables within one year -€4,383
down €4,383 (-4.7%), from €92,281 to €87,897
of which Trade receivables: -€2,480
- Profit (loss) carried forward -€6,111
down €6,111 (-600%), from -€1,018 to -€7,129
- Tax, wage and social debts -€4,517
no longer reported in 2025 (was €4,517)
- Gross operating margin -€5,305
down €5,305, from €566 to -€4,739
- Financial charges +€256
up €256 (+133%), from €192 to €448
- Taxes -€232
no longer reported in 2025 (was €232)
- Other operating charges -€231
down €231 (-35.1%), from €658 to €427
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 | €103,656 | €93,030 | -€10,626 | -10.3% |
| Fixed assets | 21/28 | €4,714 | €4,216 | -€498 | -10.6% |
| Tangible fixed assets | 22/27 | €1,578 | €1,080 | -€498 | -31.5% |
| Plant, machinery and equipment | 23 | €1,578 | €1,080 | -€498 | -31.5% |
| Financial fixed assets | 28 | €3,136 | €3,136 | = | 0.0% |
| Current assets | 29/58 | €98,942 | €88,814 | -€10,128 | -10.2% |
| Stocks and contracts in progress | 3 | €895 | €370 | -€525 | -58.6% |
| Stocks | 30/36 | €895 | €370 | -€525 | -58.6% |
| Amounts receivable within one year | 40/41 | €92,281 | €87,897 | -€4,383 | -4.7% |
| Trade receivables | 40 | €3,275 | €795 | -€2,480 | -75.7% |
| Other amounts receivable | 41 | €89,005 | €87,102 | -€1,903 | -2.1% |
| Cash at bank and in hand | 54/58 | €5,766 | €547 | -€5,220 | -90.5% |
| Total equity and liabilities | 10/49 | €103,656 | €93,030 | -€10,626 | -10.3% |
| Equity | 10/15 | €98,631 | €92,521 | -€6,111 | -6.2% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €79,818 | €79,818 | = | 0.0% |
| Distributable reserves | 133 | €79,818 | €79,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,018 | -€7,129 | -€6,111 | -600% |
| Amounts payable | 17/49 | €5,025 | €510 | -€4,515 | -89.9% |
| Amounts payable within one year | 42/48 | €5,025 | €510 | -€4,515 | -89.9% |
| Trade debts | 44 | €508 | €510 | +€2 | +0.3% |
| Suppliers | 440/4 | €508 | €510 | +€2 | +0.3% |
| Taxes, remuneration and social security | 45 | €4,517 | - | -€4,517 | |
| Taxes | 450/3 | €4,517 | - | -€4,517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €502 | €498 | -€4 | -0.8% |
| Other operating charges | 640/8 | €658 | €427 | -€231 | -35.1% |
| Gross operating margin | 9900 | €566 | -€4,739 | -€5,305 | |
| Operating profit (loss) | 9901 | -€594 | -€5,663 | -€5,070 | -854% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €192 | €448 | +€256 | +133% |
| Recurring financial charges | 65 | €192 | €448 | +€256 | +133% |
| Profit (loss) for the period before taxes | 9903 | -€786 | -€6,111 | -€5,325 | -678% |
| Income taxes | 67/77 | €232 | - | -€232 | |
| Profit (loss) for the period | 9904 | -€1,018 | -€6,111 | -€5,093 | -500% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,018 | -€6,111 | -€5,093 | -500% |
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 13 October 2026 via checked.be.