MORPHO Vastgoed: 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.
MORPHO Vastgoed
Largest movements
- Cash -€53,837
down €53,837 (-38.1%), from €141,277 to €87,441
mainly Advances received (-€95,472) and Other debts (-€21,310)
- Tangible fixed assets -€13,148
down €13,148 (-37.0%), from €35,577 to €22,429
of which Other tangible fixed assets: -€12,348
- Receivables within one year +€11,886
up €11,886 (+56.3%), from €21,099 to €32,985
of which Trade receivables: +€13,079
- Advances received -€95,472
down €95,472 (-75.0%), from €127,306 to €31,833
- Profit (loss) carried forward +€60,387
up €60,387 (+78.0%), from -€77,449 to -€17,061
- Other debts -€21,310
down €21,310 (-26.5%), from €80,441 to €59,132
- Tax, wage and social debts +€10,546
up €10,546 (+231.5%), from €4,555 to €15,100
- Debts after one year -€7,000
down €7,000 (-33.3%), from €21,000 to €14,000
- Gross operating margin +€52,132
up €52,132 (+142.5%), from €36,580 to €88,712
- Taxes +€4,725
up €4,725 (+3364.1%), from €140 to €4,865
- Other operating charges +€4,003
up €4,003 (+403.6%), from €992 to €4,995
- Financial charges -€2,388
down €2,388 (-34.0%), from €7,019 to €4,631
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.
Cash bridge derived
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 | €199,754 | €144,206 | -€55,548 | -27.8% |
| Fixed assets | 21/28 | €35,577 | €22,429 | -€13,148 | -37.0% |
| Tangible fixed assets | 22/27 | €35,577 | €22,429 | -€13,148 | -37.0% |
| Furniture and vehicles | 24 | €4,503 | €3,702 | -€801 | -17.8% |
| Other tangible fixed assets | 26 | €31,074 | €18,726 | -€12,348 | -39.7% |
| Current assets | 29/58 | €164,177 | €121,778 | -€42,400 | -25.8% |
| Amounts receivable within one year | 40/41 | €21,099 | €32,985 | +€11,886 | +56.3% |
| Trade receivables | 40 | €19,876 | €32,955 | +€13,079 | +65.8% |
| Other amounts receivable | 41 | €1,223 | €30 | -€1,193 | -97.6% |
| Cash at bank and in hand | 54/58 | €141,277 | €87,441 | -€53,837 | -38.1% |
| Deferred charges and accrued income | 490/1 | €1,801 | €1,352 | -€449 | -24.9% |
| Total equity and liabilities | 10/49 | €199,754 | €144,206 | -€55,548 | -27.8% |
| Equity | 10/15 | -€52,449 | €7,939 | +€60,387 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,449 | -€17,061 | +€60,387 | +78.0% |
| Amounts payable | 17/49 | €252,203 | €136,267 | -€115,936 | -46.0% |
| Amounts payable after more than one year | 17 | €21,000 | €14,000 | -€7,000 | -33.3% |
| Financial debts | 170/4 | €21,000 | €14,000 | -€7,000 | -33.3% |
| Amounts payable within one year | 42/48 | €226,938 | €117,872 | -€109,066 | -48.1% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €7,000 | = | 0.0% |
| Financial debts | 43 | €366 | €519 | +€153 | +41.7% |
| Credit institutions | 430/8 | €366 | €519 | +€153 | +41.7% |
| Trade debts | 44 | €7,270 | €4,288 | -€2,982 | -41.0% |
| Suppliers | 440/4 | €7,270 | €4,288 | -€2,982 | -41.0% |
| Advances received on contracts in progress | 46 | €127,306 | €31,833 | -€95,472 | -75.0% |
| Taxes, remuneration and social security | 45 | €4,555 | €15,100 | +€10,546 | +231.5% |
| Taxes | 450/3 | €4,555 | €15,100 | +€10,546 | +231.5% |
| Other amounts payable | 47/48 | €80,441 | €59,132 | -€21,310 | -26.5% |
| Accrued charges and deferred income | 492/3 | €4,265 | €4,395 | +€130 | +3.1% |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,678 | €13,848 | +€171 | +1.2% |
| Other operating charges | 640/8 | €992 | €4,995 | +€4,003 | +403.6% |
| Gross operating margin | 9900 | €36,580 | €88,712 | +€52,132 | +142.5% |
| Operating profit (loss) | 9901 | €21,911 | €69,869 | +€47,958 | +218.9% |
| Financial income | 75/76B | €1 | €15 | +€14 | +2627.3% |
| Recurring financial income | 75 | €1 | €15 | +€14 | +2627.3% |
| Financial charges | 65/66B | €7,019 | €4,631 | -€2,388 | -34.0% |
| Recurring financial charges | 65 | €7,019 | €4,631 | -€2,388 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €14,892 | €65,253 | +€50,360 | +338.2% |
| Income taxes | 67/77 | €140 | €4,865 | +€4,725 | +3364.1% |
| Profit (loss) for the period | 9904 | €14,752 | €60,387 | +€45,635 | +309.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,752 | €60,387 | +€45,635 | +309.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.