MORETTI: what changed
Two fiscal 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.
MORETTI
Largest movements
- Cash -€23,031
down €23,031 (-16.6%), from €139,156 to €116,126
mainly Net result for the year (-€41,041)
- Tangible fixed assets -€8,942
down €8,942 (-30.1%), from €29,745 to €20,803
of which Furniture and vehicles: -€5,463
- Receivables within one year -€7,878
down €7,878 (-42.8%), from €18,391 to €10,513
of which Trade receivables: -€11,618
- Profit (loss) carried forward -€41,041
down €41,041 (-26.6%), from €154,303 to €113,262
- Gross operating margin -€47,632
down €47,632, from €21,147 to -€26,485
- Staff costs -€13,594
down €13,594 (-88.2%), from €15,416 to €1,823
- Depreciation -€1,371
down €1,371 (-13.3%), from €10,313 to €8,942
- Financial charges -€575
down €575 (-82.0%), from €701 to €126
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 | €223,478 | €183,557 | -€39,921 | -17.9% |
| Fixed assets | 21/28 | €29,782 | €20,840 | -€8,942 | -30.0% |
| Tangible fixed assets | 22/27 | €29,745 | €20,803 | -€8,942 | -30.1% |
| Land and buildings | 22 | €1,859 | €1,859 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,381 | €2,145 | -€2,237 | -51.0% |
| Furniture and vehicles | 24 | €7,951 | €2,489 | -€5,463 | -68.7% |
| Other tangible fixed assets | 26 | €15,553 | €14,310 | -€1,243 | -8.0% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €193,696 | €162,717 | -€30,979 | -16.0% |
| Stocks and contracts in progress | 3 | €33,837 | €33,837 | = | 0.0% |
| Stocks | 30/36 | €33,837 | €33,837 | = | 0.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,391 | €10,513 | -€7,878 | -42.8% |
| Trade receivables | 40 | €11,618 | €0 | -€11,618 | -100.0% |
| Other amounts receivable | 41 | €6,773 | €10,513 | +€3,740 | +55.2% |
| Cash at bank and in hand | 54/58 | €139,156 | €116,126 | -€23,031 | -16.6% |
| Deferred charges and accrued income | 490/1 | €2,312 | €2,241 | -€71 | -3.1% |
| Total equity and liabilities | 10/49 | €223,478 | €183,557 | -€39,921 | -17.9% |
| Equity | 10/15 | €222,503 | €181,462 | -€41,041 | -18.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,303 | €113,262 | -€41,041 | -26.6% |
| Amounts payable | 17/49 | €975 | €2,095 | +€1,120 | +114.8% |
| Amounts payable within one year | 42/48 | €975 | €2,095 | +€1,120 | +114.8% |
| Trade debts | 44 | €403 | €1,546 | +€1,142 | +283.2% |
| Suppliers | 440/4 | €403 | €1,546 | +€1,142 | +283.2% |
| Taxes, remuneration and social security | 45 | €572 | €549 | -€22 | -3.9% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €572 | €549 | -€22 | -3.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €15,416 | €1,823 | -€13,594 | -88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,313 | €8,942 | -€1,371 | -13.3% |
| Other operating charges | 640/8 | €3,587 | €3,687 | +€100 | +2.8% |
| Gross operating margin | 9900 | €21,147 | -€26,485 | -€47,632 | |
| Operating profit (loss) | 9901 | -€8,169 | -€40,937 | -€32,768 | -401.1% |
| Financial income | 75/76B | €24 | €22 | -€2 | -6.8% |
| Recurring financial income | 75 | €24 | €22 | -€2 | -6.8% |
| Financial charges | 65/66B | €701 | €126 | -€575 | -82.0% |
| Recurring financial charges | 65 | €701 | €126 | -€575 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,847 | -€41,041 | -€32,194 | -363.9% |
| Profit (loss) for the period | 9904 | -€8,847 | -€41,041 | -€32,194 | -363.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,847 | -€41,041 | -€32,194 | -363.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.