MORINO: 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.
MORINO
Largest movements
- Stocks and contracts +€67,040
up €67,040 (+61.4%), from €109,198 to €176,238
- Receivables within one year -€41,799
down €41,799 (-99.3%), from €42,102 to €304
of which Trade receivables: -€32,657
- Cash -€13,656
down €13,656 (-89.0%), from €15,345 to €1,688
mainly Stocks and contracts (-€67,040) and Trade debts (-€17,914)
- Other debts +€25,900
new in 2024: €25,900
- Trade debts -€17,914
down €17,914 (-20.1%), from €88,997 to €71,083
- Tax, wage and social debts +€2,642
up €2,642 (+5.0%), from €53,272 to €55,914
of which Remuneration and social security: +€2,636
- Gross operating margin -€15,030
down €15,030 (-25.4%), from €59,257 to €44,227
- Staff costs -€13,674
down €13,674 (-26.2%), from €52,113 to €38,439
- Taxes -€6,570
down €6,570 (-62.2%), from €10,570 to €4,000
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,645 | €178,230 | +€11,585 | +7.0% |
| Current assets | 29/58 | €166,645 | €178,230 | +€11,585 | +7.0% |
| Stocks and contracts in progress | 3 | €109,198 | €176,238 | +€67,040 | +61.4% |
| Stocks | 30/36 | €109,198 | €176,238 | +€67,040 | +61.4% |
| Amounts receivable within one year | 40/41 | €42,102 | €304 | -€41,799 | -99.3% |
| Trade receivables | 40 | €32,961 | €304 | -€32,657 | -99.1% |
| Other amounts receivable | 41 | €9,142 | - | -€9,142 | |
| Cash at bank and in hand | 54/58 | €15,345 | €1,688 | -€13,656 | -89.0% |
| Total equity and liabilities | 10/49 | €166,645 | €178,230 | +€11,585 | +7.0% |
| Equity | 10/15 | €24,376 | €25,332 | +€957 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,916 | €4,872 | +€957 | +24.4% |
| Amounts payable | 17/49 | €142,269 | €152,897 | +€10,628 | +7.5% |
| Amounts payable within one year | 42/48 | €142,269 | €152,897 | +€10,628 | +7.5% |
| Trade debts | 44 | €88,997 | €71,083 | -€17,914 | -20.1% |
| Suppliers | 440/4 | €88,997 | €71,083 | -€17,914 | -20.1% |
| Taxes, remuneration and social security | 45 | €53,272 | €55,914 | +€2,642 | +5.0% |
| Taxes | 450/3 | €41,662 | €41,669 | +€6 | 0.0% |
| Remuneration and social security | 454/9 | €11,610 | €14,245 | +€2,636 | +22.7% |
| Other amounts payable | 47/48 | - | €25,900 | +€25,900 | |
| Remuneration, social security and pensions | 62 | €52,113 | €38,439 | -€13,674 | -26.2% |
| Other operating charges | 640/8 | €824 | €679 | -€146 | -17.7% |
| Gross operating margin | 9900 | €59,257 | €44,227 | -€15,030 | -25.4% |
| Operating profit (loss) | 9901 | €6,319 | €5,109 | -€1,210 | -19.2% |
| Financial charges | 65/66B | €104 | €152 | +€48 | +46.0% |
| Recurring financial charges | 65 | €104 | €152 | +€48 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €6,215 | €4,957 | -€1,258 | -20.2% |
| Income taxes | 67/77 | €10,570 | €4,000 | -€6,570 | -62.2% |
| Profit (loss) for the period | 9904 | -€4,355 | €957 | +€5,311 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,355 | €957 | +€5,311 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.