MORLANWAIZE: 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.
MORLANWAIZE
Largest movements
- Cash -€322,983
down €322,983 (-36.6%), from €881,904 to €558,921
mainly Trade debts (-€237,641) and Stocks and contracts (-€90,901)
- Stocks and contracts +€90,901
up €90,901 (+12.2%), from €743,980 to €834,881
- Receivables within one year +€73,120
up €73,120 (+39.3%), from €186,071 to €259,191
of which Other amounts receivable: +€84,418
- Trade debts -€237,641
down €237,641 (-14.9%), from €1.6m to €1.4m
- Short-term financial debts +€99,886
new in 2026: €99,886
- Tax, wage and social debts -€59,993
down €59,993 (-11.1%), from €539,058 to €479,065
of which Remuneration and social security: -€81,315
- Accrued charges and deferred income +€41,519
up €41,519 (+4181.2%), from €993 to €42,512
- Debts after one year -€29,834
down €29,834 (-17.4%), from €171,542 to €141,708
- Staff costs -€882,818
down €882,818 (-27.4%), from €3.2m to €2.3m
- Gross operating margin -€329,008
down €329,008 (-11.9%), from €2.8m to €2.4m
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.
Cash bridge derived
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 | €2,013,971 | €1,874,345 | -€139,626 | -6.9% |
| Fixed assets | 21/28 | €178,936 | €198,437 | +€19,501 | +10.9% |
| Intangible fixed assets | 21 | €1,008 | €11,486 | +€10,478 | +1039.5% |
| Tangible fixed assets | 22/27 | €177,928 | €186,951 | +€9,023 | +5.1% |
| Plant, machinery and equipment | 23 | €172,288 | €177,388 | +€5,100 | +3.0% |
| Furniture and vehicles | 24 | €5,640 | €9,563 | +€3,923 | +69.6% |
| Current assets | 29/58 | €1,835,035 | €1,675,908 | -€159,127 | -8.7% |
| Stocks and contracts in progress | 3 | €743,980 | €834,881 | +€90,901 | +12.2% |
| Stocks | 30/36 | €743,980 | €834,881 | +€90,901 | +12.2% |
| Amounts receivable within one year | 40/41 | €186,071 | €259,191 | +€73,120 | +39.3% |
| Trade receivables | 40 | €126,207 | €114,909 | -€11,298 | -9.0% |
| Other amounts receivable | 41 | €59,864 | €144,282 | +€84,418 | +141.0% |
| Cash at bank and in hand | 54/58 | €881,904 | €558,921 | -€322,983 | -36.6% |
| Deferred charges and accrued income | 490/1 | €23,080 | €22,915 | -€165 | -0.7% |
| Total equity and liabilities | 10/49 | €2,013,971 | €1,874,345 | -€139,626 | -6.9% |
| Equity | 10/15 | -€302,908 | -€286,075 | +€16,833 | +5.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€502,908 | -€486,075 | +€16,833 | +3.3% |
| Amounts payable | 17/49 | €2,316,879 | €2,160,420 | -€156,459 | -6.8% |
| Amounts payable after more than one year | 17 | €171,542 | €141,708 | -€29,834 | -17.4% |
| Financial debts | 170/4 | €171,542 | €141,708 | -€29,834 | -17.4% |
| Amounts payable within one year | 42/48 | €2,144,344 | €1,976,200 | -€168,144 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €7,458 | €37,292 | +€29,834 | +400.0% |
| Financial debts | 43 | - | €99,886 | +€99,886 | |
| Other loans | 439 | - | €99,886 | +€99,886 | |
| Trade debts | 44 | €1,597,598 | €1,359,957 | -€237,641 | -14.9% |
| Suppliers | 440/4 | €1,597,598 | €1,359,957 | -€237,641 | -14.9% |
| Taxes, remuneration and social security | 45 | €539,058 | €479,065 | -€59,993 | -11.1% |
| Taxes | 450/3 | €9,217 | €30,539 | +€21,322 | +231.3% |
| Remuneration and social security | 454/9 | €529,841 | €448,526 | -€81,315 | -15.3% |
| Other amounts payable | 47/48 | €230 | - | -€230 | |
| Accrued charges and deferred income | 492/3 | €993 | €42,512 | +€41,519 | +4181.2% |
| Remuneration, social security and pensions | 62 | €3,221,115 | €2,338,297 | -€882,818 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,067 | €19,908 | +€13,841 | +228.1% |
| Other operating charges | 640/8 | €2,760 | €15,805 | +€13,045 | +472.6% |
| Gross operating margin | 9900 | €2,756,764 | €2,427,756 | -€329,008 | -11.9% |
| Operating profit (loss) | 9901 | -€473,178 | €53,746 | +€526,924 | |
| Financial income | 75/76B | €2,395 | €1,381 | -€1,014 | -42.3% |
| Recurring financial income | 75 | €2,395 | €1,381 | -€1,014 | -42.3% |
| Financial charges | 65/66B | €31,597 | €37,813 | +€6,216 | +19.7% |
| Recurring financial charges | 65 | €31,597 | €37,813 | +€6,216 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | -€502,380 | €17,314 | +€519,694 | |
| Income taxes | 67/77 | €528 | €481 | -€47 | -8.9% |
| Profit (loss) for the period | 9904 | -€502,908 | €16,833 | +€519,741 | |
| Profit (loss) for the period to be appropriated | 9905 | -€502,908 | €16,833 | +€519,741 |
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 10 October 2026 via checked.be.