MORVAN: what changed
Two fiscal 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.
MORVAN
Largest movements
- Receivables within one year -€44,857
down €44,857 (-52.5%), from €85,407 to €40,550
- Debts within one year -€33,770
down €33,770 (-5.6%), from €605,030 to €571,260
- Equity -€12,537
down €12,537 (-3.3%), from €383,786 to €371,248
of which Profit (loss) carried forward: -€12,537
- Financial charges +€6,272
new in 2021: €6,272
- Gross operating margin -€3,329
down €3,329 (-82.7%), from -€4,025 to -€7,354
- Financial income +€2,474
new in 2021: €2,474
- Other operating charges +€1,385
new in 2021: €1,385
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €988,816 | €942,509 | -€46,307 | -4.7% |
| Current assets | 29/58 | €988,816 | €942,509 | -€46,307 | -4.7% |
| Stocks and contracts in progress | 3 | €899,059 | €899,059 | = | 0.0% |
| Stocks | 30/36 | - | €899,059 | +€899,059 | |
| Amounts receivable within one year | 40/41 | €85,407 | €40,550 | -€44,857 | -52.5% |
| Other amounts receivable | 41 | - | €40,550 | +€40,550 | |
| Cash at bank and in hand | 54/58 | €4,349 | €2,666 | -€1,683 | -38.7% |
| Deferred charges and accrued income | 490/1 | - | €233 | +€233 | |
| Total equity and liabilities | 10/49 | €988,816 | €942,509 | -€46,307 | -4.7% |
| Equity | 10/15 | €383,786 | €371,248 | -€12,537 | -3.3% |
| Contributions | 10/11 | - | €49,579 | +€49,579 | |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €4,958 | +€4,958 | |
| Reserves not available under the articles | 1311 | - | €4,958 | +€4,958 | |
| Profit (loss) carried forward | 14 | €329,249 | €316,712 | -€12,537 | -3.8% |
| Amounts payable | 17/49 | €605,030 | €571,260 | -€33,770 | -5.6% |
| Amounts payable within one year | 42/48 | €605,030 | €571,260 | -€33,770 | -5.6% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €30 | €928 | +€898 | +2994.6% |
| Suppliers | 440/4 | - | €928 | +€928 | |
| Other amounts payable | 47/48 | - | €320,332 | +€320,332 | |
| Other operating charges | 640/8 | - | €1,385 | +€1,385 | |
| Gross operating margin | 9900 | -€4,025 | -€7,354 | -€3,329 | -82.7% |
| Operating profit (loss) | 9901 | -€4,155 | -€8,739 | -€4,584 | -110.3% |
| Financial income | 75/76B | - | €2,474 | +€2,474 | |
| Recurring financial income | 75 | €4,339 | €2,474 | -€1,865 | -43.0% |
| Financial charges | 65/66B | - | €6,272 | +€6,272 | |
| Recurring financial charges | 65 | €20 | €6,272 | +€6,252 | +31336.9% |
| Profit (loss) for the period before taxes | 9903 | €163 | -€12,537 | -€12,701 | |
| Profit (loss) for the period | 9904 | €163 | -€12,537 | -€12,701 | |
| Profit (loss) for the period to be appropriated | 9905 | €163 | -€12,537 | -€12,701 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.