MORNOK: 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.
MORNOK
Largest movements
- Cash -€58,491
down €58,491 (-71.7%), from €81,608 to €23,117
mainly Contributions, distributions and other (-€102,323) and Receivables within one year (-€6,448)
- Receivables within one year +€6,448
up €6,448 (+233%), from €2,768 to €9,216
of which Trade receivables: +€5,123
- Current investments +€2,150
up €2,150 (+434%), from €496 to €2,646
- Tangible fixed assets +€1,388
new in 2025: €1,388
- Reserves -€79,535
down €79,535 (-100%), from €79,535 to €0
- Other debts +€25,721
up €25,721 (+1,443%), from €1,782 to €27,503
- Current portion of long-term debt +€5,266
new in 2025: €5,266
- Financial income -€1,780
down €1,780 (-77.9%), from €2,283 to €504
- Taxes -€645
down €645 (-7.6%), from €8,521 to €7,876
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 | €86,009 | €36,897 | -€49,112 | -57.1% |
| Fixed assets | 21/28 | - | €1,388 | +€1,388 | |
| Tangible fixed assets | 22/27 | - | €1,388 | +€1,388 | |
| Other tangible fixed assets | 26 | - | €1,388 | +€1,388 | |
| Current assets | 29/58 | €86,009 | €35,509 | -€50,500 | -58.7% |
| Stocks and contracts in progress | 3 | €1,138 | €530 | -€608 | -53.4% |
| Stocks | 30/36 | €1,138 | €530 | -€608 | -53.4% |
| Amounts receivable within one year | 40/41 | €2,768 | €9,216 | +€6,448 | +233% |
| Trade receivables | 40 | €1,461 | €6,584 | +€5,123 | +351% |
| Other amounts receivable | 41 | €1,307 | €2,632 | +€1,325 | +101% |
| Current investments | 50/53 | €496 | €2,646 | +€2,150 | +434% |
| Cash at bank and in hand | 54/58 | €81,608 | €23,117 | -€58,491 | -71.7% |
| Total equity and liabilities | 10/49 | €86,009 | €36,897 | -€49,112 | -57.1% |
| Equity | 10/15 | €82,535 | €3,000 | -€79,535 | -96.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €79,535 | €0 | -€79,535 | -100% |
| Distributable reserves | 133 | €79,535 | €0 | -€79,535 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,474 | €33,897 | +€30,423 | +876% |
| Amounts payable within one year | 42/48 | €3,474 | €33,897 | +€30,423 | +876% |
| Current portion of amounts payable after more than one year | 42 | - | €5,266 | +€5,266 | |
| Trade debts | 44 | €191 | €270 | +€79 | +41.4% |
| Suppliers | 440/4 | €191 | €270 | +€79 | +41.4% |
| Taxes, remuneration and social security | 45 | €1,501 | €857 | -€643 | -42.9% |
| Taxes | 450/3 | €1,501 | €857 | -€643 | -42.9% |
| Other amounts payable | 47/48 | €1,782 | €27,503 | +€25,721 | +1,443% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €127 | +€127 | |
| Other operating charges | 640/8 | €747 | €596 | -€150 | -20.1% |
| Gross operating margin | 9900 | €30,959 | €31,097 | +€139 | +0.4% |
| Operating profit (loss) | 9901 | €30,212 | €30,374 | +€162 | +0.5% |
| Financial income | 75/76B | €2,283 | €504 | -€1,780 | -77.9% |
| Recurring financial income | 75 | €2,283 | €504 | -€1,780 | -77.9% |
| Financial charges | 65/66B | €389 | €214 | -€175 | -45.0% |
| Recurring financial charges | 65 | €389 | €214 | -€175 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €32,106 | €30,664 | -€1,443 | -4.5% |
| Income taxes | 67/77 | €8,521 | €7,876 | -€645 | -7.6% |
| Profit (loss) for the period | 9904 | €23,585 | €22,788 | -€797 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,585 | €22,788 | -€797 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.