MORELAND: 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.
MORELAND
Largest movements
- Receivables within one year +€101,938
up €101,938 (+540.0%), from €18,877 to €120,816
of which Other amounts receivable: +€90,680
- Tangible fixed assets -€81,390
down €81,390 (-7.0%), from €1.2m to €1.1m
of which Leasing and similar rights: -€58,327
- Reserves +€85,803
up €85,803 (+24.4%), from €351,262 to €437,065
of which Distributable reserves: +€86,496
- Debts after one year -€70,085
down €70,085 (-5.2%), from €1.4m to €1.3m
- Gross operating margin +€28,634
up €28,634 (+23.5%), from €122,060 to €150,694
- Depreciation -€18,992
down €18,992 (-23.5%), from €80,912 to €61,920
- Other operating charges +€9,018
up €9,018 (+162.9%), from €5,536 to €14,554
- Financial charges -€2,831
down €2,831 (-6.2%), from €45,711 to €42,879
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.
Cash bridge derived
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 | €1,930,995 | €1,953,829 | +€22,834 | +1.2% |
| Fixed assets | 21/28 | €1,897,161 | €1,825,771 | -€71,390 | -3.8% |
| Tangible fixed assets | 22/27 | €1,162,161 | €1,080,771 | -€81,390 | -7.0% |
| Furniture and vehicles | 24 | €2,257 | €1,986 | -€271 | -12.0% |
| Leasing and similar rights | 25 | €1,125,317 | €1,066,990 | -€58,327 | -5.2% |
| Other tangible fixed assets | 26 | €34,587 | €11,795 | -€22,792 | -65.9% |
| Financial fixed assets | 28 | €735,000 | €745,000 | +€10,000 | +1.4% |
| Current assets | 29/58 | €33,834 | €128,059 | +€94,224 | +278.5% |
| Amounts receivable within one year | 40/41 | €18,877 | €120,816 | +€101,938 | +540.0% |
| Trade receivables | 40 | €18,755 | €30,013 | +€11,258 | +60.0% |
| Other amounts receivable | 41 | €122 | €90,802 | +€90,680 | +74078.6% |
| Cash at bank and in hand | 54/58 | €12,919 | €5,197 | -€7,722 | -59.8% |
| Deferred charges and accrued income | 490/1 | €2,038 | €2,046 | +€9 | +0.4% |
| Total equity and liabilities | 10/49 | €1,930,995 | €1,953,829 | +€22,834 | +1.2% |
| Equity | 10/15 | €369,854 | €455,657 | +€85,803 | +23.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €351,262 | €437,065 | +€85,803 | +24.4% |
| Tax-exempt reserves | 132 | €11,080 | €10,387 | -€692 | -6.2% |
| Distributable reserves | 133 | €340,183 | €426,678 | +€86,496 | +25.4% |
| Provisions and deferred taxes | 16 | €3,693 | €3,462 | -€231 | -6.2% |
| Deferred taxes | 168 | €3,693 | €3,462 | -€231 | -6.2% |
| Amounts payable | 17/49 | €1,557,448 | €1,494,710 | -€62,738 | -4.0% |
| Amounts payable after more than one year | 17 | €1,350,453 | €1,280,368 | -€70,085 | -5.2% |
| Financial debts | 170/4 | €1,350,453 | €1,280,368 | -€70,085 | -5.2% |
| Amounts payable within one year | 42/48 | €201,575 | €208,194 | +€6,620 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €164,880 | €170,085 | +€5,205 | +3.2% |
| Financial debts | 43 | €4,864 | - | -€4,864 | |
| Credit institutions | 430/8 | €4,864 | - | -€4,864 | |
| Trade debts | 44 | €3,241 | €7,166 | +€3,926 | +121.1% |
| Suppliers | 440/4 | €3,241 | €7,166 | +€3,926 | +121.1% |
| Taxes, remuneration and social security | 45 | €3,590 | €5,943 | +€2,353 | +65.6% |
| Taxes | 450/3 | €3,590 | €5,141 | +€1,551 | +43.2% |
| Remuneration and social security | 454/9 | - | €802 | +€802 | |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,420 | €6,147 | +€727 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,912 | €61,920 | -€18,992 | -23.5% |
| Other operating charges | 640/8 | €5,536 | €14,554 | +€9,018 | +162.9% |
| Non-recurring operating charges | 66A | - | €19,470 | +€19,470 | |
| Gross operating margin | 9900 | €122,060 | €150,694 | +€28,634 | +23.5% |
| Operating profit (loss) | 9901 | €35,613 | €54,750 | +€19,137 | +53.7% |
| Financial income | 75/76B | €75,006 | €75,012 | +€6 | 0.0% |
| Recurring financial income | 75 | €75,006 | €75,012 | +€6 | 0.0% |
| Financial charges | 65/66B | €45,711 | €42,879 | -€2,831 | -6.2% |
| Recurring financial charges | 65 | €45,711 | €42,879 | -€2,831 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €64,908 | €86,883 | +€21,975 | +33.9% |
| Transfer from deferred taxes | 780 | €231 | €231 | = | 0.0% |
| Income taxes | 67/77 | €2 | €1,310 | +€1,309 | +79306.7% |
| Profit (loss) for the period | 9904 | €65,137 | €85,803 | +€20,667 | +31.7% |
| Transfer from tax-exempt reserves | 789 | €692 | €692 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,829 | €86,496 | +€20,667 | +31.4% |
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 11 October 2026 via checked.be.