MORRAZ: 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.
MORRAZ
Largest movements
- Cash -€102,654
down €102,654 (-22.2%), from €461,772 to €359,118
mainly Trade debts (-€124,256) and Contributions, distributions and other (-€100,000)
- Financial fixed assets +€55,973
new in 2024: €55,973
- Receivables within one year -€9,824
down €9,824 (-4.0%), from €244,305 to €234,481
of which Trade receivables: -€31,922
- Trade debts -€124,256
down €124,256 (-74.4%), from €167,004 to €42,748
- Other debts +€100,292
up €100,292 (+4,379%), from €2,290 to €102,582
- Profit (loss) carried forward -€99,985
down €99,985 (-17.2%), from €580,999 to €481,014
- Reserves +€65,000
up €65,000 (+3,495%), from €1,860 to €66,860
of which Distributable reserves: +€66,860
- Turnover -€259,210
down €259,210 (-21.1%), from €1.2m to €968,696
- Gross operating margin -€31,601
down €31,601 (-21.5%), from €146,798 to €115,198
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.
Derived cash bridge
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 | €787,985 | €725,303 | -€62,682 | -8.0% |
| Fixed assets | 21/28 | €78,311 | €129,714 | +€51,403 | +65.6% |
| Intangible fixed assets | 21 | €7,284 | €4,631 | -€2,653 | -36.4% |
| Tangible fixed assets | 22/27 | €71,027 | €69,110 | -€1,917 | -2.7% |
| Plant, machinery and equipment | 23 | €10,398 | €9,681 | -€717 | -6.9% |
| Furniture and vehicles | 24 | €60,630 | €59,430 | -€1,200 | -2.0% |
| Financial fixed assets | 28 | - | €55,973 | +€55,973 | |
| Current assets | 29/58 | €709,674 | €595,589 | -€114,085 | -16.1% |
| Amounts receivable within one year | 40/41 | €244,305 | €234,481 | -€9,824 | -4.0% |
| Trade receivables | 40 | €227,830 | €195,908 | -€31,922 | -14.0% |
| Other amounts receivable | 41 | €16,475 | €38,574 | +€22,098 | +134% |
| Cash at bank and in hand | 54/58 | €461,772 | €359,118 | -€102,654 | -22.2% |
| Deferred charges and accrued income | 490/1 | €3,597 | €1,990 | -€1,607 | -44.7% |
| Total equity and liabilities | 10/49 | €787,985 | €725,303 | -€62,682 | -8.0% |
| Equity | 10/15 | €589,059 | €554,074 | -€34,985 | -5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €66,860 | +€65,000 | +3,495% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €66,860 | +€66,860 | |
| Profit (loss) carried forward | 14 | €580,999 | €481,014 | -€99,985 | -17.2% |
| Amounts payable | 17/49 | €198,926 | €171,229 | -€27,697 | -13.9% |
| Amounts payable within one year | 42/48 | €198,926 | €171,229 | -€27,697 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €2,712 | - | -€2,712 | |
| Financial debts | 43 | €70 | €70 | = | 0.0% |
| Credit institutions | 430/8 | €70 | €70 | = | 0.0% |
| Trade debts | 44 | €167,004 | €42,748 | -€124,256 | -74.4% |
| Suppliers | 440/4 | €167,004 | €42,748 | -€124,256 | -74.4% |
| Taxes, remuneration and social security | 45 | €26,851 | €25,830 | -€1,021 | -3.8% |
| Taxes | 450/3 | €19,231 | €13,147 | -€6,084 | -31.6% |
| Remuneration and social security | 454/9 | €7,620 | €12,683 | +€5,063 | +66.4% |
| Other amounts payable | 47/48 | €2,290 | €102,582 | +€100,292 | +4,379% |
| Turnover | 70 | €1,227,906 | €968,696 | -€259,210 | -21.1% |
| Non-recurring operating income | 76A | - | €7,751 | +€7,751 | |
| Remuneration, social security and pensions | 62 | €6,567 | €656 | -€5,911 | -90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,752 | €18,668 | +€2,917 | +18.5% |
| Other operating charges | 640/8 | €6,360 | €3,311 | -€3,048 | -47.9% |
| Gross operating margin | 9900 | €146,798 | €115,198 | -€31,601 | -21.5% |
| Operating profit (loss) | 9901 | €118,120 | €92,562 | -€25,558 | -21.6% |
| Financial income | 75/76B | €1,315 | €4,369 | +€3,055 | +232% |
| Recurring financial income | 75 | €1,161 | €4,369 | +€3,208 | +276% |
| Non-recurring financial income | 76B | €154 | - | -€154 | |
| Financial charges | 65/66B | €4,052 | €1,206 | -€2,846 | -70.2% |
| Recurring financial charges | 65 | €499 | €288 | -€212 | -42.4% |
| Non-recurring financial charges | 66B | €3,553 | €918 | -€2,634 | -74.1% |
| Profit (loss) for the period before taxes | 9903 | €115,383 | €95,725 | -€19,658 | -17.0% |
| Income taxes | 67/77 | €31,329 | €30,710 | -€619 | -2.0% |
| Profit (loss) for the period | 9904 | €84,054 | €65,015 | -€19,039 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,054 | €65,015 | -€19,039 | -22.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.