MORREY CONSULT: 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.
MORREY CONSULT
Largest movements
- Current investments -€250,238
down €250,238 (-100%), from €250,238 to €0
- Receivables after one year +€100,000
new in 2025: €100,000
- Cash +€48,909
up €48,909 (+36.0%), from €135,813 to €184,722
mainly Net result for the year (+€1.0m) and Current investments (+€250,238)
- Receivables within one year +€26,240
up €26,240 (+605%), from €4,339 to €30,580
of which Trade receivables: +€25,595
- Tangible fixed assets -€5,362
down €5,362 (-30.3%), from €17,707 to €12,345
of which Furniture and vehicles: -€7,750
- Other debts -€56,872
down €56,872 (-96.6%), from €58,876 to €2,004
- Reserves -€41,249
down €41,249 (-11.3%), from €363,566 to €322,317
- Tax, wage and social debts +€13,272
up €13,272 (+102%), from €12,971 to €26,243
of which Taxes: +€13,964
- Gross operating margin -€288,709
down €288,709 (-17.9%), from €1.6m to €1.3m
- Taxes -€77,836
down €77,836 (-19.2%), from €404,880 to €327,044
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 | €463,802 | €382,821 | -€80,981 | -17.5% |
| Fixed assets | 21/28 | €67,707 | €62,345 | -€5,362 | -7.9% |
| Tangible fixed assets | 22/27 | €17,707 | €12,345 | -€5,362 | -30.3% |
| Furniture and vehicles | 24 | €11,954 | €4,204 | -€7,750 | -64.8% |
| Other tangible fixed assets | 26 | €5,753 | €8,141 | +€2,388 | +41.5% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €396,094 | €320,476 | -€75,619 | -19.1% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €4,339 | €30,580 | +€26,240 | +605% |
| Trade receivables | 40 | €3,630 | €29,225 | +€25,595 | +705% |
| Other amounts receivable | 41 | €709 | €1,355 | +€646 | +91.0% |
| Current investments | 50/53 | €250,238 | €0 | -€250,238 | -100% |
| Cash at bank and in hand | 54/58 | €135,813 | €184,722 | +€48,909 | +36.0% |
| Deferred charges and accrued income | 490/1 | €5,704 | €5,174 | -€530 | -9.3% |
| Total equity and liabilities | 10/49 | €463,802 | €382,821 | -€80,981 | -17.5% |
| Equity | 10/15 | €382,166 | €340,917 | -€41,249 | -10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €363,566 | €322,317 | -€41,249 | -11.3% |
| Distributable reserves | 133 | €363,566 | €322,317 | -€41,249 | -11.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €81,636 | €41,904 | -€39,732 | -48.7% |
| Amounts payable within one year | 42/48 | €81,636 | €41,904 | -€39,732 | -48.7% |
| Trade debts | 44 | €9,789 | €13,657 | +€3,868 | +39.5% |
| Suppliers | 440/4 | €9,789 | €13,657 | +€3,868 | +39.5% |
| Taxes, remuneration and social security | 45 | €12,971 | €26,243 | +€13,272 | +102% |
| Taxes | 450/3 | €12,279 | €26,243 | +€13,964 | +114% |
| Remuneration and social security | 454/9 | €692 | €0 | -€692 | -100% |
| Other amounts payable | 47/48 | €58,876 | €2,004 | -€56,872 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,839 | €8,662 | +€823 | +10.5% |
| Other operating charges | 640/8 | €551 | €566 | +€14 | +2.6% |
| Gross operating margin | 9900 | €1,617,231 | €1,328,522 | -€288,709 | -17.9% |
| Operating profit (loss) | 9901 | €1,608,840 | €1,319,294 | -€289,546 | -18.0% |
| Financial income | 75/76B | €7,421 | €16,807 | +€9,386 | +126% |
| Recurring financial income | 75 | €7,421 | €16,807 | +€9,386 | +126% |
| Financial charges | 65/66B | €348 | €305 | -€43 | -12.4% |
| Recurring financial charges | 65 | €348 | €305 | -€43 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €1,615,912 | €1,335,796 | -€280,116 | -17.3% |
| Income taxes | 67/77 | €404,880 | €327,044 | -€77,836 | -19.2% |
| Profit (loss) for the period | 9904 | €1,211,032 | €1,008,751 | -€202,281 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,211,032 | €1,008,751 | -€202,281 | -16.7% |
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 16 October 2026 via checked.be.