MORTERATSCH: 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.
MORTERATSCH
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€17,821
down €17,821 (-18.5%), from €96,507 to €78,686
mainly Current investments (-€200,000) and Receivables after one year (-€12,000)
- Receivables after one year +€12,000
up €12,000 (+400%), from €3,000 to €15,000
- Tangible fixed assets -€5,288
down €5,288 (-21.4%), from €24,750 to €19,462
of which Plant, machinery and equipment: -€4,876
- Deferred charges and accrued income +€3,555
up €3,555 (+10.8%), from €33,037 to €36,592
- Reserves +€149,298
up €149,298 (+126%), from €118,685 to €267,983
- Tax, wage and social debts +€42,923
up €42,923 (+121%), from €35,423 to €78,346
of which Taxes: +€42,923
- Gross operating margin +€44,791
up €44,791 (+29.2%), from €153,519 to €198,309
- Taxes +€10,599
up €10,599 (+32.2%), from €32,946 to €43,545
- Depreciation +€4,422
up €4,422 (+510%), from €867 to €5,288
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 | €159,225 | €351,793 | +€192,568 | +121% |
| Fixed assets | 21/28 | €24,750 | €19,462 | -€5,288 | -21.4% |
| Tangible fixed assets | 22/27 | €24,750 | €19,462 | -€5,288 | -21.4% |
| Plant, machinery and equipment | 23 | €23,555 | €18,679 | -€4,876 | -20.7% |
| Furniture and vehicles | 24 | €1,195 | €783 | -€412 | -34.5% |
| Current assets | 29/58 | €134,475 | €332,331 | +€197,856 | +147% |
| Amounts receivable after more than one year | 29 | €3,000 | €15,000 | +€12,000 | +400% |
| Other amounts receivable | 291 | €3,000 | €15,000 | +€12,000 | +400% |
| Amounts receivable within one year | 40/41 | €1,931 | €2,053 | +€122 | +6.3% |
| Trade receivables | 40 | €783 | €771 | -€12 | -1.6% |
| Other amounts receivable | 41 | €1,148 | €1,282 | +€134 | +11.7% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €96,507 | €78,686 | -€17,821 | -18.5% |
| Deferred charges and accrued income | 490/1 | €33,037 | €36,592 | +€3,555 | +10.8% |
| Total equity and liabilities | 10/49 | €159,225 | €351,793 | +€192,568 | +121% |
| Equity | 10/15 | €123,685 | €272,983 | +€149,298 | +121% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,685 | €267,983 | +€149,298 | +126% |
| Distributable reserves | 133 | €118,685 | €267,983 | +€149,298 | +126% |
| Amounts payable | 17/49 | €35,540 | €78,810 | +€43,270 | +122% |
| Amounts payable within one year | 42/48 | €35,540 | €78,810 | +€43,270 | +122% |
| Trade debts | 44 | €117 | €464 | +€346 | +295% |
| Suppliers | 440/4 | €117 | €464 | +€346 | +295% |
| Taxes, remuneration and social security | 45 | €35,423 | €78,346 | +€42,923 | +121% |
| Taxes | 450/3 | €33,823 | €76,746 | +€42,923 | +127% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €867 | €5,288 | +€4,422 | +510% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €153,519 | €198,309 | +€44,791 | +29.2% |
| Operating profit (loss) | 9901 | €152,590 | €192,959 | +€40,369 | +26.5% |
| Financial income | 75/76B | €375 | €1,930 | +€1,556 | +415% |
| Recurring financial income | 75 | €375 | €1,930 | +€1,556 | +415% |
| Financial charges | 65/66B | €1,334 | €2,047 | +€713 | +53.4% |
| Recurring financial charges | 65 | €1,334 | €2,047 | +€713 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | €151,631 | €192,843 | +€41,212 | +27.2% |
| Income taxes | 67/77 | €32,946 | €43,545 | +€10,599 | +32.2% |
| Profit (loss) for the period | 9904 | €118,685 | €149,298 | +€30,613 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,685 | €149,298 | +€30,613 | +25.8% |
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 27 October 2026 via checked.be.