MorelleDoc: 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.
MorelleDoc
Largest movements
- Current investments +€87,621
up €87,621 (+40.9%), from €214,075 to €301,696
- Cash +€40,818
up €40,818 (+37.7%), from €108,346 to €149,164
mainly Net result for the year (+€294,500) and Other debts (+€132,832)
- Receivables within one year +€29,994
up €29,994 (+31.8%), from €94,190 to €124,184
of which Other amounts receivable: +€29,820
- Tangible fixed assets -€26,602
down €26,602 (-1.4%), from €1.9m to €1.9m
of which Land and buildings: -€21,834
- Other debts +€132,832
up €132,832 (+23.6%), from €562,423 to €695,255
- Reserves +€83,385
up €83,385 (+13.8%), from €604,107 to €687,492
of which Distributable reserves: +€83,385
- Current portion of long-term debt -€52,363
down €52,363 (-51.8%), from €100,997 to €48,634
- Debts after one year -€28,634
down €28,634 (-3.8%), from €750,650 to €722,016
of which Financial debts: -€48,634
- Financial charges -€122,123
down €122,123 (-84.4%), from €144,665 to €22,542
- Provisions +€85,000
no longer reported in 2025 (was -€85,000)
- Taxes +€37,082
up €37,082 (+38.4%), from €96,480 to €133,562
- Gross operating margin -€25,312
down €25,312 (-4.8%), from €523,359 to €498,047
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 | €2,360,228 | €2,487,083 | +€126,855 | +5.4% |
| Fixed assets | 21/28 | €1,932,545 | €1,905,544 | -€27,001 | -1.4% |
| Intangible fixed assets | 21 | €1,826 | €1,427 | -€399 | -21.9% |
| Tangible fixed assets | 22/27 | €1,925,718 | €1,899,117 | -€26,602 | -1.4% |
| Land and buildings | 22 | €1,827,808 | €1,805,974 | -€21,834 | -1.2% |
| Plant, machinery and equipment | 23 | €27,251 | €35,999 | +€8,748 | +32.1% |
| Furniture and vehicles | 24 | €31,865 | €23,815 | -€8,050 | -25.3% |
| Other tangible fixed assets | 26 | €38,794 | €33,329 | -€5,466 | -14.1% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €427,683 | €581,539 | +€153,857 | +36.0% |
| Amounts receivable within one year | 40/41 | €94,190 | €124,184 | +€29,994 | +31.8% |
| Trade receivables | 40 | €87,302 | €87,476 | +€174 | +0.2% |
| Other amounts receivable | 41 | €6,888 | €36,708 | +€29,820 | +433% |
| Current investments | 50/53 | €214,075 | €301,696 | +€87,621 | +40.9% |
| Cash at bank and in hand | 54/58 | €108,346 | €149,164 | +€40,818 | +37.7% |
| Deferred charges and accrued income | 490/1 | €11,072 | €6,495 | -€4,577 | -41.3% |
| Total equity and liabilities | 10/49 | €2,360,228 | €2,487,083 | +€126,855 | +5.4% |
| Equity | 10/15 | €834,612 | €916,942 | +€82,331 | +9.9% |
| Contributions | 10/11 | €229,450 | €229,450 | = | 0.0% |
| Reserves | 13 | €604,107 | €687,492 | +€83,385 | +13.8% |
| Tax-exempt reserves | 132 | €34,909 | €34,909 | = | 0.0% |
| Distributable reserves | 133 | €569,198 | €652,583 | +€83,385 | +14.6% |
| Profit (loss) carried forward | 14 | €1,054 | - | -€1,054 | |
| Amounts payable | 17/49 | €1,525,616 | €1,570,141 | +€44,525 | +2.9% |
| Amounts payable after more than one year | 17 | €750,650 | €722,016 | -€28,634 | -3.8% |
| Financial debts | 170/4 | €374,650 | €326,016 | -€48,634 | -13.0% |
| Other amounts payable | 178/9 | €376,000 | €396,000 | +€20,000 | +5.3% |
| Amounts payable within one year | 42/48 | €770,071 | €845,924 | +€75,854 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €100,997 | €48,634 | -€52,363 | -51.8% |
| Trade debts | 44 | €24,738 | €23,529 | -€1,209 | -4.9% |
| Suppliers | 440/4 | €24,738 | €23,529 | -€1,209 | -4.9% |
| Taxes, remuneration and social security | 45 | €81,912 | €78,506 | -€3,406 | -4.2% |
| Taxes | 450/3 | €81,912 | €78,506 | -€3,406 | -4.2% |
| Other amounts payable | 47/48 | €562,423 | €695,255 | +€132,832 | +23.6% |
| Accrued charges and deferred income | 492/3 | €4,895 | €2,200 | -€2,695 | -55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,232 | €40,946 | +€3,714 | +10.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€85,000 | - | +€85,000 | |
| Other operating charges | 640/8 | €9,570 | €9,437 | -€133 | -1.4% |
| Non-recurring operating charges | 66A | €50,849 | - | -€50,849 | |
| Gross operating margin | 9900 | €523,359 | €498,047 | -€25,312 | -4.8% |
| Operating profit (loss) | 9901 | €510,708 | €447,664 | -€63,044 | -12.3% |
| Financial income | 75/76B | €521 | €2,940 | +€2,419 | +464% |
| Recurring financial income | 75 | €521 | €2,940 | +€2,419 | +464% |
| Financial charges | 65/66B | €144,665 | €22,542 | -€122,123 | -84.4% |
| Recurring financial charges | 65 | €144,665 | €22,542 | -€122,123 | -84.4% |
| Profit (loss) for the period before taxes | 9903 | €366,563 | €428,062 | +€61,499 | +16.8% |
| Income taxes | 67/77 | €96,480 | €133,562 | +€37,082 | +38.4% |
| Profit (loss) for the period | 9904 | €270,083 | €294,500 | +€24,417 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €270,083 | €294,500 | +€24,417 | +9.0% |
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 14 October 2026 via checked.be.