MOREL CONSULTING: 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.
MOREL CONSULTING
Largest movements
- Tangible fixed assets +€254,410
up €254,410 (+1,241%), from €20,493 to €274,903
of which Land and buildings: +€258,801
- Financial fixed assets -€25,000
down €25,000 (-100%), from €25,000 to €0
- Cash +€19,656
up €19,656 (+21.5%), from €91,453 to €111,109
mainly Debts after one year (+€185,823) and Net result for the year (+€78,756)
- Receivables within one year +€8,784
up €8,784 (+46.1%), from €19,058 to €27,841
of which Other amounts receivable: +€8,070
- Receivables after one year +€5,160
up €5,160 (+5.6%), from €92,647 to €97,807
- Debts after one year +€185,823
new in 2025: €185,823
- Reserves +€78,756
up €78,756 (+38.0%), from €207,183 to €285,940
- Current portion of long-term debt +€7,504
up €7,504, from €0 to €7,504
- Depreciation +€18,509
up €18,509 (+232%), from €7,962 to €26,472
- Gross operating margin +€15,526
up €15,526 (+13.5%), from €115,012 to €130,538
- Financial charges +€6,437
up €6,437 (+2,438%), from €264 to €6,701
- Taxes -€2,879
down €2,879 (-12.1%), from €23,856 to €20,977
- Other operating charges +€2,528
up €2,528 (+480%), from €526 to €3,054
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 | €249,359 | €513,268 | +€263,909 | +106% |
| Fixed assets | 21/28 | €45,493 | €274,903 | +€229,410 | +504% |
| Tangible fixed assets | 22/27 | €20,493 | €274,903 | +€254,410 | +1,241% |
| Land and buildings | 22 | - | €258,801 | +€258,801 | |
| Furniture and vehicles | 24 | €20,493 | €16,102 | -€4,391 | -21.4% |
| Financial fixed assets | 28 | €25,000 | €0 | -€25,000 | -100% |
| Current assets | 29/58 | €203,867 | €238,366 | +€34,499 | +16.9% |
| Amounts receivable after more than one year | 29 | €92,647 | €97,807 | +€5,160 | +5.6% |
| Other amounts receivable | 291 | €92,647 | €97,807 | +€5,160 | +5.6% |
| Amounts receivable within one year | 40/41 | €19,058 | €27,841 | +€8,784 | +46.1% |
| Trade receivables | 40 | €19,058 | €19,771 | +€714 | +3.7% |
| Other amounts receivable | 41 | €0 | €8,070 | +€8,070 | |
| Cash at bank and in hand | 54/58 | €91,453 | €111,109 | +€19,656 | +21.5% |
| Deferred charges and accrued income | 490/1 | €709 | €1,608 | +€899 | +127% |
| Total equity and liabilities | 10/49 | €249,359 | €513,268 | +€263,909 | +106% |
| Equity | 10/15 | €210,183 | €288,940 | +€78,756 | +37.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €207,183 | €285,940 | +€78,756 | +38.0% |
| Distributable reserves | 133 | €207,183 | €285,940 | +€78,756 | +38.0% |
| Amounts payable | 17/49 | €39,176 | €224,328 | +€185,152 | +473% |
| Amounts payable after more than one year | 17 | - | €185,823 | +€185,823 | |
| Financial debts | 170/4 | - | €185,823 | +€185,823 | |
| Amounts payable within one year | 42/48 | €39,176 | €38,506 | -€670 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | €7,504 | +€7,504 | |
| Trade debts | 44 | €6,315 | €1,395 | -€4,920 | -77.9% |
| Suppliers | 440/4 | €6,315 | €1,395 | -€4,920 | -77.9% |
| Taxes, remuneration and social security | 45 | €32,246 | €29,607 | -€2,638 | -8.2% |
| Taxes | 450/3 | €32,246 | €29,607 | -€2,638 | -8.2% |
| Other amounts payable | 47/48 | €616 | €0 | -€616 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,962 | €26,472 | +€18,509 | +232% |
| Other operating charges | 640/8 | €526 | €3,054 | +€2,528 | +480% |
| Gross operating margin | 9900 | €115,012 | €130,538 | +€15,526 | +13.5% |
| Operating profit (loss) | 9901 | €106,523 | €101,012 | -€5,511 | -5.2% |
| Financial income | 75/76B | €5,450 | €5,423 | -€27 | -0.5% |
| Recurring financial income | 75 | €5,450 | €5,423 | -€27 | -0.5% |
| Financial charges | 65/66B | €264 | €6,701 | +€6,437 | +2,438% |
| Recurring financial charges | 65 | €264 | €6,701 | +€6,437 | +2,438% |
| Profit (loss) for the period before taxes | 9903 | €111,709 | €99,733 | -€11,975 | -10.7% |
| Income taxes | 67/77 | €23,856 | €20,977 | -€2,879 | -12.1% |
| Profit (loss) for the period | 9904 | €87,853 | €78,756 | -€9,097 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,853 | €78,756 | -€9,097 | -10.4% |
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 21 October 2026 via checked.be.