MORRIS C.: 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.
MORRIS C.
Largest movements
- Cash -€59,328
down €59,328 (-96.5%), from €61,453 to €2,125
mainly Trade debts (-€66,399) and Stocks and contracts (-€42,157)
- Stocks and contracts +€42,157
up €42,157 (+55.0%), from €76,628 to €118,785
- Receivables within one year -€30,052
down €30,052 (-17.3%), from €173,901 to €143,849
of which Trade receivables: -€30,384
- Tangible fixed assets -€18,055
down €18,055 (-12.4%), from €145,521 to €127,466
of which Land and buildings: -€12,531
- Profit (loss) carried forward +€69,660
up €69,660, from -€52,069 to €17,591
- Trade debts -€66,399
down €66,399 (-52.1%), from €127,500 to €61,101
- Other debts -€40,523
down €40,523 (-19.5%), from €207,551 to €167,028
- Debts after one year -€31,484
down €31,484 (-25.6%), from €123,122 to €91,638
- Gross operating margin +€138,984
up €138,984 (+739%), from €18,807 to €157,791
- Write-downs +€35,305
new in 2025: €35,305
- Taxes +€14,803
new in 2025: €14,803
- Staff costs +€7,517
up €7,517 (+144%), from €5,229 to €12,746
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 | €457,503 | €392,225 | -€65,278 | -14.3% |
| Fixed assets | 21/28 | €145,521 | €127,466 | -€18,055 | -12.4% |
| Tangible fixed assets | 22/27 | €145,521 | €127,466 | -€18,055 | -12.4% |
| Land and buildings | 22 | €129,302 | €116,771 | -€12,531 | -9.7% |
| Plant, machinery and equipment | 23 | €9,722 | €8,665 | -€1,057 | -10.9% |
| Furniture and vehicles | 24 | €6,497 | €2,030 | -€4,467 | -68.8% |
| Current assets | 29/58 | €311,982 | €264,759 | -€47,223 | -15.1% |
| Stocks and contracts in progress | 3 | €76,628 | €118,785 | +€42,157 | +55.0% |
| Stocks | 30/36 | €76,628 | €118,785 | +€42,157 | +55.0% |
| Amounts receivable within one year | 40/41 | €173,901 | €143,849 | -€30,052 | -17.3% |
| Trade receivables | 40 | €173,901 | €143,517 | -€30,384 | -17.5% |
| Other amounts receivable | 41 | - | €332 | +€332 | |
| Cash at bank and in hand | 54/58 | €61,453 | €2,125 | -€59,328 | -96.5% |
| Total equity and liabilities | 10/49 | €457,503 | €392,225 | -€65,278 | -14.3% |
| Equity | 10/15 | -€31,444 | €38,216 | +€69,660 | |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,069 | €17,591 | +€69,660 | |
| Amounts payable | 17/49 | €488,947 | €354,009 | -€134,938 | -27.6% |
| Amounts payable after more than one year | 17 | €123,122 | €91,638 | -€31,484 | -25.6% |
| Financial debts | 170/4 | €123,122 | €91,638 | -€31,484 | -25.6% |
| Amounts payable within one year | 42/48 | €365,825 | €262,371 | -€103,454 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €30,774 | €31,484 | +€710 | +2.3% |
| Trade debts | 44 | €127,500 | €61,101 | -€66,399 | -52.1% |
| Suppliers | 440/4 | €127,500 | €61,101 | -€66,399 | -52.1% |
| Taxes, remuneration and social security | 45 | - | €2,758 | +€2,758 | |
| Taxes | 450/3 | - | €2,758 | +€2,758 | |
| Other amounts payable | 47/48 | €207,551 | €167,028 | -€40,523 | -19.5% |
| Remuneration, social security and pensions | 62 | €5,229 | €12,746 | +€7,517 | +144% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,378 | €18,055 | +€677 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €35,305 | +€35,305 | |
| Other operating charges | 640/8 | €3,644 | €2,678 | -€966 | -26.5% |
| Gross operating margin | 9900 | €18,807 | €157,791 | +€138,984 | +739% |
| Operating profit (loss) | 9901 | -€7,444 | €89,007 | +€96,451 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €3,165 | €4,547 | +€1,382 | +43.7% |
| Recurring financial charges | 65 | €3,165 | €4,547 | +€1,382 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,609 | €84,462 | +€95,071 | |
| Income taxes | 67/77 | - | €14,803 | +€14,803 | |
| Profit (loss) for the period | 9904 | -€10,609 | €69,659 | +€80,268 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,609 | €69,659 | +€80,268 |
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 17 October 2026 via checked.be.