MORPHÈME: 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.
MORPHÈME
Largest movements
- Receivables within one year -€75,910
down €75,910 (-79.3%), from €95,745 to €19,835
of which Other amounts receivable: -€89,053
- Tangible fixed assets -€55,032
down €55,032 (-18.5%), from €297,923 to €242,892
of which Other tangible fixed assets: -€40,444
- Cash +€7,034
up €7,034 (+42.9%), from €16,395 to €23,429
mainly Receivables within one year (+€75,910) and Investment in fixed assets (net) (+€32,840)
- Reserves -€57,760
down €57,760 (-72.0%), from €80,260 to €22,500
- Debts after one year -€51,437
down €51,437 (-21.3%), from €241,174 to €189,737
- Profit (loss) carried forward -€27,810
down €27,810 (-99.2%), from €28,021 to €211
- Other debts +€15,687
up €15,687, from €0 to €15,687
- Depreciation -€8,342
down €8,342 (-27.3%), from €30,533 to €22,192
- Taxes -€7,862
down €7,862 (-72.5%), from €10,849 to €2,987
- Gross operating margin +€7,335
up €7,335 (+9.6%), from €76,415 to €83,750
- Other operating charges +€2,756
up €2,756 (+138%), from €1,991 to €4,747
- Financial charges -€1,106
down €1,106 (-11.3%), from €9,758 to €8,653
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 | €415,461 | €291,367 | -€124,093 | -29.9% |
| Fixed assets | 21/28 | €297,923 | €242,892 | -€55,032 | -18.5% |
| Tangible fixed assets | 22/27 | €297,923 | €242,892 | -€55,032 | -18.5% |
| Land and buildings | 22 | €228,645 | €217,112 | -€11,533 | -5.0% |
| Plant, machinery and equipment | 23 | €3,423 | €2,419 | -€1,004 | -29.3% |
| Furniture and vehicles | 24 | €25,411 | €23,361 | -€2,050 | -8.1% |
| Other tangible fixed assets | 26 | €40,444 | €0 | -€40,444 | -100% |
| Current assets | 29/58 | €117,537 | €48,476 | -€69,062 | -58.8% |
| Amounts receivable within one year | 40/41 | €95,745 | €19,835 | -€75,910 | -79.3% |
| Trade receivables | 40 | €6,520 | €19,663 | +€13,143 | +202% |
| Other amounts receivable | 41 | €89,226 | €173 | -€89,053 | -99.8% |
| Cash at bank and in hand | 54/58 | €16,395 | €23,429 | +€7,034 | +42.9% |
| Deferred charges and accrued income | 490/1 | €5,398 | €5,211 | -€186 | -3.4% |
| Total equity and liabilities | 10/49 | €415,461 | €291,367 | -€124,093 | -29.9% |
| Equity | 10/15 | €126,881 | €41,311 | -€85,570 | -67.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,260 | €22,500 | -€57,760 | -72.0% |
| Distributable reserves | 133 | €80,260 | €22,500 | -€57,760 | -72.0% |
| Profit (loss) carried forward | 14 | €28,021 | €211 | -€27,810 | -99.2% |
| Amounts payable | 17/49 | €288,580 | €250,056 | -€38,523 | -13.3% |
| Amounts payable after more than one year | 17 | €241,174 | €189,737 | -€51,437 | -21.3% |
| Financial debts | 170/4 | €241,174 | €189,737 | -€51,437 | -21.3% |
| Amounts payable within one year | 42/48 | €46,008 | €60,023 | +€14,015 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €27,332 | €26,221 | -€1,112 | -4.1% |
| Trade debts | 44 | €7,356 | €3,509 | -€3,848 | -52.3% |
| Suppliers | 440/4 | €7,356 | €3,509 | -€3,848 | -52.3% |
| Taxes, remuneration and social security | 45 | €11,319 | €14,606 | +€3,287 | +29.0% |
| Taxes | 450/3 | €11,319 | €11,631 | +€312 | +2.8% |
| Remuneration and social security | 454/9 | - | €2,975 | +€2,975 | |
| Other amounts payable | 47/48 | €0 | €15,687 | +€15,687 | |
| Accrued charges and deferred income | 492/3 | €1,398 | €297 | -€1,101 | -78.8% |
| Non-recurring operating income | 76A | €0 | €3,250 | +€3,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,533 | €22,192 | -€8,342 | -27.3% |
| Other operating charges | 640/8 | €1,991 | €4,747 | +€2,756 | +138% |
| Non-recurring operating charges | 66A | - | €40,444 | +€40,444 | |
| Gross operating margin | 9900 | €76,415 | €83,750 | +€7,335 | +9.6% |
| Operating profit (loss) | 9901 | €43,891 | €16,368 | -€27,523 | -62.7% |
| Financial income | 75/76B | €4,703 | €3,602 | -€1,101 | -23.4% |
| Recurring financial income | 75 | €4,703 | €3,602 | -€1,101 | -23.4% |
| Financial charges | 65/66B | €9,758 | €8,653 | -€1,106 | -11.3% |
| Recurring financial charges | 65 | €9,758 | €8,653 | -€1,106 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €38,835 | €11,317 | -€27,518 | -70.9% |
| Income taxes | 67/77 | €10,849 | €2,987 | -€7,862 | -72.5% |
| Profit (loss) for the period | 9904 | €27,987 | €8,330 | -€19,657 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,987 | €8,330 | -€19,657 | -70.2% |
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 21 October 2026 via checked.be.