Morjo: 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.
Morjo
Largest movements
- Cash -€133,917
down €133,917 (-80.3%), from €166,858 to €32,941
mainly Tax, wage and social debts (-€66,098) and Receivables within one year (-€41,423)
- Receivables within one year +€41,423
up €41,423 (+340%), from €12,166 to €53,588
of which Trade receivables: +€39,167
- Current investments +€18,000
up €18,000 (+21.4%), from €84,000 to €102,000
- Tangible fixed assets -€4,517
down €4,517 (-23.7%), from €19,059 to €14,542
of which Furniture and vehicles: -€3,515
- Tax, wage and social debts -€66,098
down €66,098 (-78.5%), from €84,225 to €18,127
of which Remuneration and social security: -€50,000
- Other debts -€32,592
down €32,592 (-89.8%), from €36,300 to €3,708
- Reserves +€21,377
up €21,377 (+14.8%), from €144,689 to €166,066
of which Distributable reserves: +€21,377
- Gross operating margin -€13,381
down €13,381 (-24.4%), from €54,843 to €41,462
- Taxes -€6,479
down €6,479 (-39.4%), from €16,435 to €9,956
- Financial charges +€1,864
up €1,864 (+883%), from €211 to €2,075
- Depreciation +€1,734
up €1,734 (+37.9%), from €4,582 to €6,316
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 | €282,083 | €203,072 | -€79,011 | -28.0% |
| Fixed assets | 21/28 | €19,059 | €14,542 | -€4,517 | -23.7% |
| Tangible fixed assets | 22/27 | €19,059 | €14,542 | -€4,517 | -23.7% |
| Plant, machinery and equipment | 23 | €6,788 | €5,786 | -€1,002 | -14.8% |
| Furniture and vehicles | 24 | €12,271 | €8,756 | -€3,515 | -28.6% |
| Current assets | 29/58 | €263,023 | €188,530 | -€74,494 | -28.3% |
| Amounts receivable within one year | 40/41 | €12,166 | €53,588 | +€41,423 | +340% |
| Trade receivables | 40 | €12,166 | €51,333 | +€39,167 | +322% |
| Other amounts receivable | 41 | - | €2,256 | +€2,256 | |
| Current investments | 50/53 | €84,000 | €102,000 | +€18,000 | +21.4% |
| Cash at bank and in hand | 54/58 | €166,858 | €32,941 | -€133,917 | -80.3% |
| Total equity and liabilities | 10/49 | €282,083 | €203,072 | -€79,011 | -28.0% |
| Equity | 10/15 | €157,722 | €179,099 | +€21,377 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €144,689 | €166,066 | +€21,377 | +14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €142,829 | €164,206 | +€21,377 | +15.0% |
| Profit (loss) carried forward | 14 | €6,833 | €6,833 | = | 0.0% |
| Amounts payable | 17/49 | €124,360 | €23,973 | -€100,388 | -80.7% |
| Amounts payable within one year | 42/48 | €124,360 | €23,973 | -€100,388 | -80.7% |
| Trade debts | 44 | €3,835 | €2,138 | -€1,697 | -44.2% |
| Suppliers | 440/4 | €3,835 | €2,138 | -€1,697 | -44.2% |
| Taxes, remuneration and social security | 45 | €84,225 | €18,127 | -€66,098 | -78.5% |
| Taxes | 450/3 | €26,525 | €10,427 | -€16,098 | -60.7% |
| Remuneration and social security | 454/9 | €57,700 | €7,700 | -€50,000 | -86.7% |
| Other amounts payable | 47/48 | €36,300 | €3,708 | -€32,592 | -89.8% |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,582 | €6,316 | +€1,734 | +37.9% |
| Other operating charges | 640/8 | €2,129 | €2,447 | +€318 | +14.9% |
| Gross operating margin | 9900 | €54,843 | €41,462 | -€13,381 | -24.4% |
| Operating profit (loss) | 9901 | €48,132 | €32,699 | -€15,434 | -32.1% |
| Financial income | 75/76B | €353 | €710 | +€357 | +101% |
| Recurring financial income | 75 | €353 | €710 | +€357 | +101% |
| Financial charges | 65/66B | €211 | €2,075 | +€1,864 | +883% |
| Recurring financial charges | 65 | €211 | €2,075 | +€1,864 | +883% |
| Profit (loss) for the period before taxes | 9903 | €48,274 | €31,333 | -€16,941 | -35.1% |
| Income taxes | 67/77 | €16,435 | €9,956 | -€6,479 | -39.4% |
| Profit (loss) for the period | 9904 | €31,840 | €21,377 | -€10,462 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,840 | €21,377 | -€10,462 | -32.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.