MORN: 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.
MORN
Largest movements
- Cash -€21,962
down €21,962 (-98.2%), from €22,361 to €400
mainly Other debts (-€17,129) and Net result for the year (-€4,083)
- Receivables within one year +€548
up €548 (+171%), from €321 to €869
of which Other amounts receivable: +€548
- Other debts -€17,129
down €17,129 (-29.8%), from €57,526 to €40,396
- Profit (loss) carried forward -€4,083
down €4,083 (-1.6%), from -€255,978 to -€260,062
- Gross operating margin -€1,997
down €1,997 (-142%), from -€1,405 to -€3,403
- Taxes -€119
down €119 (-100%), from €119 to €0
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 | €22,682 | €1,268 | -€21,414 | -94.4% |
| Current assets | 29/58 | €22,682 | €1,268 | -€21,414 | -94.4% |
| Amounts receivable within one year | 40/41 | €321 | €869 | +€548 | +171% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €321 | €869 | +€548 | +171% |
| Cash at bank and in hand | 54/58 | €22,361 | €400 | -€21,962 | -98.2% |
| Total equity and liabilities | 10/49 | €22,682 | €1,268 | -€21,414 | -94.4% |
| Equity | 10/15 | -€35,974 | -€40,057 | -€4,083 | -11.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €200,004 | €200,004 | = | 0.0% |
| Distributable reserves | 133 | €200,004 | €200,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€255,978 | -€260,062 | -€4,083 | -1.6% |
| Amounts payable | 17/49 | €58,656 | €41,325 | -€17,331 | -29.5% |
| Amounts payable within one year | 42/48 | €58,656 | €41,325 | -€17,331 | -29.5% |
| Trade debts | 44 | €1,131 | €929 | -€202 | -17.8% |
| Suppliers | 440/4 | €1,131 | €929 | -€202 | -17.8% |
| Other amounts payable | 47/48 | €57,526 | €40,396 | -€17,129 | -29.8% |
| Other operating charges | 640/8 | €505 | €528 | +€22 | +4.4% |
| Gross operating margin | 9900 | -€1,405 | -€3,403 | -€1,997 | -142% |
| Operating profit (loss) | 9901 | -€1,911 | -€3,930 | -€2,020 | -106% |
| Financial charges | 65/66B | €153 | €153 | -€0 | -0.1% |
| Recurring financial charges | 65 | €153 | €153 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,064 | -€4,083 | -€2,019 | -97.9% |
| Income taxes | 67/77 | €119 | €0 | -€119 | -100% |
| Profit (loss) for the period | 9904 | -€2,182 | -€4,083 | -€1,901 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,182 | -€4,083 | -€1,901 | -87.1% |
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.