MORPHO: 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.
MORPHO
Largest movements
- Cash +€343,863
up €343,863 (+451%), from €76,222 to €420,085
mainly Accrued charges and deferred income (+€348,155) and Depreciation (+€41,273)
- Current investments +€51,270
up €51,270 (+29.1%), from €175,920 to €227,190
- Tangible fixed assets -€41,273
down €41,273 (-36.8%), from €112,252 to €70,979
of which Land and buildings: -€38,883
- Deferred charges and accrued income +€13,315
up €13,315 (+147%), from €9,080 to €22,395
- Receivables within one year -€9,692
down €9,692 (-33.8%), from €28,648 to €18,956
of which Other amounts receivable: -€13,373
- Accrued charges and deferred income +€348,155
up €348,155 (+7,107%), from €4,899 to €353,054
- Provisions -€46,424
down €46,424 (-71.0%), from €65,427 to €19,003
- Debts within one year +€38,111
up €38,111 (+43.7%), from €87,296 to €125,407
of which Trade debts: +€30,694
- Profit (loss) carried forward +€17,641
up €17,641 (+7.0%), from €251,565 to €269,206
- Staff costs +€54,967
up €54,967 (+15.1%), from €364,666 to €419,633
- Gross operating margin +€50,756
up €50,756 (+11.2%), from €455,207 to €505,963
- Write-downs -€11,902
down €11,902 (-86.5%), from €13,763 to €1,861
- Other operating charges +€10,543
up €10,543 (+70.1%), from €15,046 to €25,589
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 | €409,187 | €766,670 | +€357,483 | +87.4% |
| Fixed assets | 21/28 | €119,317 | €78,044 | -€41,273 | -34.6% |
| Tangible fixed assets | 22/27 | €112,252 | €70,979 | -€41,273 | -36.8% |
| Land and buildings | 22 | €105,743 | €66,860 | -€38,883 | -36.8% |
| Plant, machinery and equipment | 23 | €6,509 | €4,119 | -€2,390 | -36.7% |
| Financial fixed assets | 28 | €7,065 | €7,065 | = | 0.0% |
| Current assets | 29/58 | €289,870 | €688,626 | +€398,756 | +138% |
| Amounts receivable within one year | 40/41 | €28,648 | €18,956 | -€9,692 | -33.8% |
| Trade receivables | 40 | €14,275 | €17,956 | +€3,681 | +25.8% |
| Other amounts receivable | 41 | €14,373 | €1,000 | -€13,373 | -93.0% |
| Current investments | 50/53 | €175,920 | €227,190 | +€51,270 | +29.1% |
| Cash at bank and in hand | 54/58 | €76,222 | €420,085 | +€343,863 | +451% |
| Deferred charges and accrued income | 490/1 | €9,080 | €22,395 | +€13,315 | +147% |
| Total equity and liabilities | 10/49 | €409,187 | €766,670 | +€357,483 | +87.4% |
| Equity | 10/15 | €251,565 | €269,206 | +€17,641 | +7.0% |
| Profit (loss) carried forward | 14 | €251,565 | €269,206 | +€17,641 | +7.0% |
| Provisions and deferred taxes | 16 | €65,427 | €19,003 | -€46,424 | -71.0% |
| Provisions for liabilities and charges | 160/5 | €65,427 | €19,003 | -€46,424 | -71.0% |
| Major repairs and maintenance | 162 | €65,427 | - | -€65,427 | |
| Other liabilities and charges | 164/5 | - | €19,003 | +€19,003 | |
| Amounts payable | 17/49 | €92,195 | €478,461 | +€386,266 | +419% |
| Amounts payable within one year | 42/48 | €87,296 | €125,407 | +€38,111 | +43.7% |
| Trade debts | 44 | €13,055 | €43,749 | +€30,694 | +235% |
| Suppliers | 440/4 | €13,055 | €43,749 | +€30,694 | +235% |
| Taxes, remuneration and social security | 45 | €32,744 | €45,072 | +€12,328 | +37.6% |
| Taxes | 450/3 | - | €3,333 | +€3,333 | |
| Remuneration and social security | 454/9 | €32,744 | €41,739 | +€8,995 | +27.5% |
| Accrued charges and deferred income | 492/3 | €4,899 | €353,054 | +€348,155 | +7,107% |
| Non-recurring operating income | 76A | - | €15,706 | +€15,706 | |
| Remuneration, social security and pensions | 62 | €364,666 | €419,633 | +€54,967 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,227 | €41,273 | -€1,954 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,763 | €1,861 | -€11,902 | -86.5% |
| Other operating charges | 640/8 | €15,046 | €25,589 | +€10,543 | +70.1% |
| Non-recurring operating charges | 66A | - | €1,332 | +€1,332 | |
| Gross operating margin | 9900 | €455,207 | €505,963 | +€50,756 | +11.2% |
| Operating profit (loss) | 9901 | €18,505 | €16,275 | -€2,230 | -12.1% |
| Financial income | 75/76B | €1,209 | €2,232 | +€1,023 | +84.6% |
| Recurring financial income | 75 | €1,209 | €2,232 | +€1,023 | +84.6% |
| Financial charges | 65/66B | €1,940 | €866 | -€1,074 | -55.4% |
| Recurring financial charges | 65 | €1,940 | €866 | -€1,074 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €17,774 | €17,641 | -€133 | -0.7% |
| Profit (loss) for the period | 9904 | €17,774 | €17,641 | -€133 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,774 | €17,641 | -€133 | -0.7% |
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.