MORTELL: 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.
MORTELL
Largest movements
- Tangible fixed assets +€561,436
up €561,436 (+98.4%), from €570,747 to €1.1m
of which Land and buildings: +€562,386
- Receivables within one year +€143,224
up €143,224 (+1124.4%), from €12,738 to €155,962
of which Other amounts receivable: +€143,224
- Cash +€17,683
up €17,683 (+375.4%), from €4,710 to €22,393
mainly Other debts (+€797,252) and Depreciation (+€22,094)
- Other debts +€797,252
up €797,252 (+2588.9%), from €30,795 to €828,047
- Reserves -€35,380
down €35,380 (-80.7%), from €43,862 to €8,482
- Debts after one year -€30,893
down €30,893 (-6.9%), from €445,655 to €414,762
- Gross operating margin -€155,067
down €155,067 (-92.3%), from €167,955 to €12,888
- Staff costs -€88,924
down €88,924 (-100.0%), from €88,924 to €0
- Taxes -€7,971
down €7,971 (-100.0%), from €7,971 to €0
- Depreciation +€6,141
up €6,141 (+38.5%), from €15,953 to €22,094
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 | €588,506 | €1,310,848 | +€722,342 | +122.7% |
| Fixed assets | 21/28 | €570,747 | €1,132,183 | +€561,436 | +98.4% |
| Tangible fixed assets | 22/27 | €570,747 | €1,132,183 | +€561,436 | +98.4% |
| Land and buildings | 22 | €568,957 | €1,131,343 | +€562,386 | +98.8% |
| Plant, machinery and equipment | 23 | €1,790 | €840 | -€950 | -53.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €17,759 | €178,665 | +€160,906 | +906.1% |
| Amounts receivable within one year | 40/41 | €12,738 | €155,962 | +€143,224 | +1124.4% |
| Trade receivables | 40 | €11,866 | €11,866 | = | 0.0% |
| Other amounts receivable | 41 | €872 | €144,096 | +€143,224 | +16424.2% |
| Cash at bank and in hand | 54/58 | €4,710 | €22,393 | +€17,683 | +375.4% |
| Deferred charges and accrued income | 490/1 | €311 | €310 | -€1 | -0.3% |
| Total equity and liabilities | 10/49 | €588,506 | €1,310,848 | +€722,342 | +122.7% |
| Equity | 10/15 | €62,462 | €27,082 | -€35,380 | -56.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,862 | €8,482 | -€35,380 | -80.7% |
| Distributable reserves | 133 | €43,862 | €8,482 | -€35,380 | -80.7% |
| Amounts payable | 17/49 | €526,044 | €1,283,766 | +€757,722 | +144.0% |
| Amounts payable after more than one year | 17 | €445,655 | €414,762 | -€30,893 | -6.9% |
| Financial debts | 170/4 | €445,655 | €414,762 | -€30,893 | -6.9% |
| Amounts payable within one year | 42/48 | €80,389 | €869,004 | +€788,615 | +981.0% |
| Current portion of amounts payable after more than one year | 42 | €29,721 | €30,893 | +€1,173 | +3.9% |
| Financial debts | 43 | €1,691 | €0 | -€1,691 | -100.0% |
| Credit institutions | 430/8 | €1,691 | €0 | -€1,691 | -100.0% |
| Trade debts | 44 | €4,713 | €3,711 | -€1,002 | -21.3% |
| Suppliers | 440/4 | €4,713 | €3,711 | -€1,002 | -21.3% |
| Taxes, remuneration and social security | 45 | €13,469 | €6,352 | -€7,117 | -52.8% |
| Taxes | 450/3 | €13,469 | €6,352 | -€7,117 | -52.8% |
| Other amounts payable | 47/48 | €30,795 | €828,047 | +€797,252 | +2588.9% |
| Non-recurring operating income | 76A | €10,890 | €0 | -€10,890 | -100.0% |
| Remuneration, social security and pensions | 62 | €88,924 | €0 | -€88,924 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,953 | €22,094 | +€6,141 | +38.5% |
| Other operating charges | 640/8 | €6,309 | €6,207 | -€102 | -1.6% |
| Non-recurring operating charges | 66A | €10,515 | €0 | -€10,515 | -100.0% |
| Gross operating margin | 9900 | €167,955 | €12,888 | -€155,067 | -92.3% |
| Operating profit (loss) | 9901 | €46,254 | -€15,413 | -€61,668 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €21,562 | €19,967 | -€1,595 | -7.4% |
| Recurring financial charges | 65 | €21,562 | €19,967 | -€1,595 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €24,692 | -€35,380 | -€60,072 | |
| Income taxes | 67/77 | €7,971 | €0 | -€7,971 | -100.0% |
| Profit (loss) for the period | 9904 | €16,721 | -€35,380 | -€52,101 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,721 | -€35,380 | -€52,101 |
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 10 October 2026 via checked.be.