MORPHEA: 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.
MORPHEA
Largest movements
- Tangible fixed assets -€50,875
down €50,875 (-11.7%), from €434,444 to €383,568
of which Land and buildings: -€39,819
- Cash +€9,553
up €9,553 (+77.6%), from €12,304 to €21,857
mainly Depreciation (+€54,602) and Trade debts (+€3,441)
- Debts after one year -€30,000
down €30,000 (-12.1%), from €247,500 to €217,500
- Current portion of long-term debt -€7,500
down €7,500 (-20.0%), from €37,500 to €30,000
- Accrued charges and deferred income -€6,422
down €6,422 (-88.0%), from €7,294 to €872
- Depreciation +€2,178
up €2,178 (+4.2%), from €52,424 to €54,602
- Other operating charges -€1,505
down €1,505 (-20.4%), from €7,372 to €5,868
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 | €451,709 | €411,589 | -€40,120 | -8.9% |
| Fixed assets | 21/28 | €434,444 | €383,568 | -€50,875 | -11.7% |
| Tangible fixed assets | 22/27 | €434,444 | €383,568 | -€50,875 | -11.7% |
| Land and buildings | 22 | €357,672 | €317,852 | -€39,819 | -11.1% |
| Plant, machinery and equipment | 23 | €15,474 | €7,917 | -€7,557 | -48.8% |
| Other tangible fixed assets | 26 | €61,298 | €57,799 | -€3,499 | -5.7% |
| Current assets | 29/58 | €17,266 | €28,021 | +€10,755 | +62.3% |
| Amounts receivable within one year | 40/41 | €3,481 | €3,000 | -€481 | -13.8% |
| Other amounts receivable | 41 | €3,481 | €3,000 | -€481 | -13.8% |
| Cash at bank and in hand | 54/58 | €12,304 | €21,857 | +€9,553 | +77.6% |
| Deferred charges and accrued income | 490/1 | €1,481 | €3,164 | +€1,683 | +113.6% |
| Total equity and liabilities | 10/49 | €451,709 | €411,589 | -€40,120 | -8.9% |
| Equity | 10/15 | €81,440 | €82,653 | +€1,214 | +1.5% |
| Contributions | 10/11 | €3,100 | €3,100 | = | 0.0% |
| Reserves | 13 | €78,340 | €79,553 | +€1,214 | +1.5% |
| Non-distributable reserves | 130/1 | €930 | €930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €930 | €930 | = | 0.0% |
| Distributable reserves | 133 | €77,410 | €78,623 | +€1,214 | +1.6% |
| Amounts payable | 17/49 | €370,269 | €328,936 | -€41,334 | -11.2% |
| Amounts payable after more than one year | 17 | €247,500 | €217,500 | -€30,000 | -12.1% |
| Financial debts | 170/4 | €247,500 | €217,500 | -€30,000 | -12.1% |
| Amounts payable within one year | 42/48 | €115,475 | €110,564 | -€4,911 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €37,500 | €30,000 | -€7,500 | -20.0% |
| Trade debts | 44 | €169 | €3,610 | +€3,441 | +2031.1% |
| Suppliers | 440/4 | €169 | €3,610 | +€3,441 | +2031.1% |
| Taxes, remuneration and social security | 45 | €173 | €294 | +€121 | +70.1% |
| Taxes | 450/3 | €173 | €294 | +€121 | +70.1% |
| Other amounts payable | 47/48 | €77,632 | €76,659 | -€973 | -1.3% |
| Accrued charges and deferred income | 492/3 | €7,294 | €872 | -€6,422 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,424 | €54,602 | +€2,178 | +4.2% |
| Other operating charges | 640/8 | €7,372 | €5,868 | -€1,505 | -20.4% |
| Gross operating margin | 9900 | €83,934 | €84,595 | +€662 | +0.8% |
| Operating profit (loss) | 9901 | €24,138 | €24,126 | -€12 | 0.0% |
| Financial charges | 65/66B | €22,233 | €22,791 | +€558 | +2.5% |
| Recurring financial charges | 65 | €22,233 | €22,791 | +€558 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €1,904 | €1,335 | -€570 | -29.9% |
| Income taxes | 67/77 | €173 | €121 | -€52 | -29.9% |
| Profit (loss) for the period | 9904 | €1,731 | €1,214 | -€518 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,731 | €1,214 | -€518 | -29.9% |
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 28 September 2026 via checked.be.