MOYAERT: 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.
MOYAERT
Largest movements
- Tangible fixed assets +€529,448
up €529,448 (+21.3%), from €2.5m to €3.0m
of which Land and buildings: +€613,274
- Current investments +€400,000
new in 2025: €400,000
- Receivables within one year -€290,675
down €290,675 (-30.6%), from €950,246 to €659,572
of which Trade receivables: -€312,316
- Cash -€242,236
down €242,236 (-20.5%), from €1.2m to €941,720
mainly Investment in fixed assets (net) (-€783,155) and Current investments (-€400,000)
- Stocks and contracts +€223,470
up €223,470 (+130.2%), from €171,676 to €395,146
- Reserves +€880,969
up €880,969 (+32.4%), from €2.7m to €3.6m
of which Distributable reserves: +€880,969
- Trade debts -€194,245
down €194,245 (-86.4%), from €224,734 to €30,489
- Debts after one year +€137,065
up €137,065 (+6.3%), from €2.2m to €2.3m
- Current portion of long-term debt -€81,091
down €81,091 (-20.4%), from €398,150 to €317,059
- Other operating charges -€228,403
down €228,403 (-88.9%), from €257,031 to €28,628
- Depreciation +€101,850
up €101,850 (+67.1%), from €151,857 to €253,707
- Gross operating margin -€96,605
down €96,605 (-3.3%), from €2.9m to €2.8m
- Staff costs +€74,706
up €74,706 (+7.6%), from €979,843 to €1.1m
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 | €5,718,630 | €6,473,637 | +€755,007 | +13.2% |
| Fixed assets | 21/28 | €3,365,877 | €3,895,325 | +€529,448 | +15.7% |
| Tangible fixed assets | 22/27 | €2,483,173 | €3,012,620 | +€529,448 | +21.3% |
| Land and buildings | 22 | €2,068,385 | €2,681,659 | +€613,274 | +29.6% |
| Plant, machinery and equipment | 23 | €54,083 | €66,384 | +€12,300 | +22.7% |
| Furniture and vehicles | 24 | €360,705 | €264,578 | -€96,127 | -26.6% |
| Financial fixed assets | 28 | €882,705 | €882,705 | = | 0.0% |
| Current assets | 29/58 | €2,352,753 | €2,578,312 | +€225,559 | +9.6% |
| Amounts receivable after more than one year | 29 | €46,874 | €181,874 | +€135,000 | +288.0% |
| Other amounts receivable | 291 | €46,874 | €181,874 | +€135,000 | +288.0% |
| Stocks and contracts in progress | 3 | €171,676 | €395,146 | +€223,470 | +130.2% |
| Stocks | 30/36 | €171,676 | €395,146 | +€223,470 | +130.2% |
| Amounts receivable within one year | 40/41 | €950,246 | €659,572 | -€290,675 | -30.6% |
| Trade receivables | 40 | €900,461 | €588,146 | -€312,316 | -34.7% |
| Other amounts receivable | 41 | €49,785 | €71,426 | +€21,641 | +43.5% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,183,957 | €941,720 | -€242,236 | -20.5% |
| Total equity and liabilities | 10/49 | €5,718,630 | €6,473,637 | +€755,007 | +13.2% |
| Equity | 10/15 | €2,723,535 | €3,604,504 | +€880,969 | +32.3% |
| Contributions | 10/11 | €2,272 | €2,272 | = | 0.0% |
| Reserves | 13 | €2,721,264 | €3,602,233 | +€880,969 | +32.4% |
| Tax-exempt reserves | 132 | €14,975 | €14,975 | = | 0.0% |
| Distributable reserves | 133 | €2,706,288 | €3,587,257 | +€880,969 | +32.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,995,095 | €2,869,133 | -€125,962 | -4.2% |
| Amounts payable after more than one year | 17 | €2,176,687 | €2,313,752 | +€137,065 | +6.3% |
| Financial debts | 170/4 | €2,176,687 | €2,313,752 | +€137,065 | +6.3% |
| Amounts payable within one year | 42/48 | €818,408 | €543,314 | -€275,094 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €398,150 | €317,059 | -€81,091 | -20.4% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €224,734 | €30,489 | -€194,245 | -86.4% |
| Suppliers | 440/4 | €224,734 | €30,489 | -€194,245 | -86.4% |
| Taxes, remuneration and social security | 45 | €45,524 | €45,766 | +€242 | +0.5% |
| Taxes | 450/3 | €7,660 | €3,952 | -€3,708 | -48.4% |
| Remuneration and social security | 454/9 | €37,864 | €41,814 | +€3,950 | +10.4% |
| Accrued charges and deferred income | 492/3 | €0 | €12,067 | +€12,067 | |
| Remuneration, social security and pensions | 62 | €979,843 | €1,054,549 | +€74,706 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,857 | €253,707 | +€101,850 | +67.1% |
| Other operating charges | 640/8 | €257,031 | €28,628 | -€228,403 | -88.9% |
| Gross operating margin | 9900 | €2,911,814 | €2,815,209 | -€96,605 | -3.3% |
| Operating profit (loss) | 9901 | €1,523,084 | €1,478,325 | -€44,759 | -2.9% |
| Financial income | 75/76B | €4,944 | €6,209 | +€1,265 | +25.6% |
| Recurring financial income | 75 | €4,944 | €6,209 | +€1,265 | +25.6% |
| Financial charges | 65/66B | €77,939 | €106,601 | +€28,662 | +36.8% |
| Recurring financial charges | 65 | €77,939 | €106,601 | +€28,662 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €1,450,088 | €1,377,934 | -€72,155 | -5.0% |
| Income taxes | 67/77 | €456,207 | €428,871 | -€27,336 | -6.0% |
| Profit (loss) for the period | 9904 | €993,882 | €949,063 | -€44,819 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €993,882 | €949,063 | -€44,819 | -4.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.