MORELLE JACQUES: 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.
MORELLE JACQUES
Largest movements
- Tangible fixed assets -€58,069
down €58,069 (-10.7%), from €541,961 to €483,892
of which Land and buildings: -€55,426
- Stocks and contracts +€36,309
up €36,309 (+25.9%), from €140,124 to €176,433
- Deferred charges and accrued income +€16,975
up €16,975 (+120%), from €14,199 to €31,174
- Cash +€9,691
up €9,691 (+5.1%), from €189,198 to €198,889
mainly Depreciation (+€81,644) and Other debts (+€25,082)
- Reserves -€26,642
down €26,642 (-21.6%), from €123,531 to €96,889
of which Distributable reserves: -€20,000
- Other debts +€25,082
up €25,082 (+159%), from €15,746 to €40,828
- Gross operating margin -€5,063
down €5,063 (-5.1%), from €98,698 to €93,635
- Financial charges -€4,201
down €4,201 (-28.1%), from €14,939 to €10,739
- Depreciation -€2,525
down €2,525 (-3.0%), from €84,169 to €81,644
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €894,595 | €892,596 | -€1,999 | -0.2% |
| Fixed assets | 21/28 | €541,998 | €483,929 | -€58,069 | -10.7% |
| Tangible fixed assets | 22/27 | €541,961 | €483,892 | -€58,069 | -10.7% |
| Land and buildings | 22 | €448,762 | €393,336 | -€55,426 | -12.4% |
| Plant, machinery and equipment | 23 | €5,621 | €17,982 | +€12,361 | +220% |
| Furniture and vehicles | 24 | €87,578 | €72,574 | -€15,003 | -17.1% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €352,596 | €408,666 | +€56,070 | +15.9% |
| Stocks and contracts in progress | 3 | €140,124 | €176,433 | +€36,309 | +25.9% |
| Stocks | 30/36 | €140,124 | €176,433 | +€36,309 | +25.9% |
| Amounts receivable within one year | 40/41 | €9,075 | €2,171 | -€6,904 | -76.1% |
| Trade receivables | 40 | €9,075 | - | -€9,075 | |
| Other amounts receivable | 41 | - | €2,171 | +€2,171 | |
| Cash at bank and in hand | 54/58 | €189,198 | €198,889 | +€9,691 | +5.1% |
| Deferred charges and accrued income | 490/1 | €14,199 | €31,174 | +€16,975 | +120% |
| Total equity and liabilities | 10/49 | €894,595 | €892,596 | -€1,999 | -0.2% |
| Equity | 10/15 | €708,047 | €683,284 | -€24,763 | -3.5% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €123,531 | €96,889 | -€26,642 | -21.6% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €40,000 | €40,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,031 | €40,389 | -€6,642 | -14.1% |
| Distributable reserves | 133 | €36,500 | €16,500 | -€20,000 | -54.8% |
| Profit (loss) carried forward | 14 | €184,516 | €186,395 | +€1,879 | +1.0% |
| Provisions and deferred taxes | 16 | €10,655 | €8,995 | -€1,661 | -15.6% |
| Deferred taxes | 168 | €10,655 | €8,995 | -€1,661 | -15.6% |
| Amounts payable | 17/49 | €175,893 | €200,318 | +€24,425 | +13.9% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,893 | €50,318 | +€24,425 | +94.3% |
| Trade debts | 44 | €3,216 | €3,257 | +€41 | +1.3% |
| Suppliers | 440/4 | €3,216 | €3,257 | +€41 | +1.3% |
| Taxes, remuneration and social security | 45 | €6,931 | €6,233 | -€698 | -10.1% |
| Taxes | 450/3 | €6,931 | €6,233 | -€698 | -10.1% |
| Other amounts payable | 47/48 | €15,746 | €40,828 | +€25,082 | +159% |
| Non-recurring operating income | 76A | €9,480 | - | -€9,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,169 | €81,644 | -€2,525 | -3.0% |
| Other operating charges | 640/8 | €7,233 | €7,053 | -€179 | -2.5% |
| Gross operating margin | 9900 | €98,698 | €93,635 | -€5,063 | -5.1% |
| Operating profit (loss) | 9901 | €7,296 | €4,938 | -€2,359 | -32.3% |
| Financial income | 75/76B | €550 | €647 | +€98 | +17.8% |
| Recurring financial income | 75 | €550 | €647 | +€98 | +17.8% |
| Financial charges | 65/66B | €14,939 | €10,739 | -€4,201 | -28.1% |
| Recurring financial charges | 65 | €14,939 | €10,739 | -€4,201 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,093 | -€5,154 | +€1,940 | +27.3% |
| Transfer from deferred taxes | 780 | €1,661 | €1,661 | = | 0.0% |
| Income taxes | 67/77 | €1,458 | €1,270 | -€187 | -12.9% |
| Profit (loss) for the period | 9904 | -€6,890 | -€4,763 | +€2,127 | +30.9% |
| Transfer from tax-exempt reserves | 789 | €6,642 | €6,642 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€248 | €1,879 | +€2,127 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.