MORREALE DAVID: 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.
MORREALE DAVID
Largest movements
- Receivables within one year +€11,560
up €11,560 (+125%), from €9,259 to €20,819
of which Trade receivables: +€14,193
- Tangible fixed assets -€10,663
down €10,663 (-59.4%), from €17,962 to €7,299
of which Furniture and vehicles: -€9,775
- Cash -€6,005
down €6,005 (-48.2%), from €12,450 to €6,445
mainly Receivables within one year (-€11,560) and Current portion of long-term debt (-€3,303)
- Current portion of long-term debt -€3,303
down €3,303 (-65.4%), from €5,050 to €1,746
- Other debts -€1,863
no longer reported in 2025 (was €1,863)
- Debts after one year -€1,746
no longer reported in 2025 (was €1,746)
- Trade debts +€763
up €763 (+61.0%), from €1,250 to €2,013
- Profit (loss) carried forward +€682
up €682 (+12.1%), from €5,655 to €6,337
- Staff costs +€12,199
up €12,199 (+27.0%), from €45,129 to €57,328
- Gross operating margin +€9,674
up €9,674 (+16.2%), from €59,882 to €69,556
- Financial income +€2,349
up €2,349 (+4,419%), from €53 to €2,403
- Depreciation -€773
down €773 (-6.8%), from €11,281 to €10,509
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 | €40,018 | €34,997 | -€5,020 | -12.5% |
| Fixed assets | 21/28 | €18,208 | €7,299 | -€10,909 | -59.9% |
| Intangible fixed assets | 21 | €246 | - | -€246 | |
| Tangible fixed assets | 22/27 | €17,962 | €7,299 | -€10,663 | -59.4% |
| Land and buildings | 22 | €1,029 | €916 | -€113 | -11.0% |
| Plant, machinery and equipment | 23 | €1,596 | €821 | -€775 | -48.6% |
| Furniture and vehicles | 24 | €15,337 | €5,562 | -€9,775 | -63.7% |
| Current assets | 29/58 | €21,809 | €27,698 | +€5,889 | +27.0% |
| Amounts receivable within one year | 40/41 | €9,259 | €20,819 | +€11,560 | +125% |
| Trade receivables | 40 | €5,224 | €19,418 | +€14,193 | +272% |
| Other amounts receivable | 41 | €4,035 | €1,402 | -€2,633 | -65.3% |
| Current investments | 50/53 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,450 | €6,445 | -€6,005 | -48.2% |
| Deferred charges and accrued income | 490/1 | - | €334 | +€334 | |
| Total equity and liabilities | 10/49 | €40,018 | €34,997 | -€5,020 | -12.5% |
| Equity | 10/15 | €24,406 | €25,088 | +€682 | +2.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €8,751 | €8,751 | = | 0.0% |
| Distributable reserves | 133 | €8,751 | €8,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,655 | €6,337 | +€682 | +12.1% |
| Amounts payable | 17/49 | €15,611 | €9,909 | -€5,702 | -36.5% |
| Amounts payable after more than one year | 17 | €1,746 | - | -€1,746 | |
| Financial debts | 170/4 | €1,746 | - | -€1,746 | |
| Amounts payable within one year | 42/48 | €13,865 | €9,909 | -€3,956 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €5,050 | €1,746 | -€3,303 | -65.4% |
| Trade debts | 44 | €1,250 | €2,013 | +€763 | +61.0% |
| Suppliers | 440/4 | €1,250 | €2,013 | +€763 | +61.0% |
| Taxes, remuneration and social security | 45 | €5,702 | €6,150 | +€448 | +7.9% |
| Taxes | 450/3 | €2,608 | €720 | -€1,888 | -72.4% |
| Remuneration and social security | 454/9 | €3,094 | €5,430 | +€2,336 | +75.5% |
| Other amounts payable | 47/48 | €1,863 | - | -€1,863 | |
| Remuneration, social security and pensions | 62 | €45,129 | €57,328 | +€12,199 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,281 | €10,509 | -€773 | -6.8% |
| Other operating charges | 640/8 | €1,181 | €1,367 | +€186 | +15.8% |
| Gross operating margin | 9900 | €59,882 | €69,556 | +€9,674 | +16.2% |
| Operating profit (loss) | 9901 | €2,291 | €352 | -€1,939 | -84.6% |
| Financial income | 75/76B | €53 | €2,403 | +€2,349 | +4,419% |
| Recurring financial income | 75 | €53 | €2,403 | +€2,349 | +4,419% |
| Financial charges | 65/66B | €1,537 | €876 | -€661 | -43.0% |
| Recurring financial charges | 65 | €1,537 | €876 | -€661 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €807 | €1,878 | +€1,072 | +133% |
| Income taxes | 67/77 | €1,028 | €1,197 | +€168 | +16.4% |
| Profit (loss) for the period | 9904 | -€222 | €682 | +€903 | |
| Profit (loss) for the period to be appropriated | 9905 | -€222 | €682 | +€903 |
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 16 October 2026 via checked.be.