MOYART: what changed
MOYART
Largest movements
- Stocks and contracts -€17,551
down €17,551 (-53.5%), from €32,807 to €15,257
- Tangible fixed assets +€12,595
up €12,595 (+16.9%), from €74,436 to €87,031
of which Land and buildings: +€13,258
- Receivables after one year -€12,000
down €12,000 (-36.9%), from €32,500 to €20,500
- Cash -€6,496
down €6,496 (-14.8%), from €43,766 to €37,271
mainly Other debts (-€24,915) and Investment in fixed assets (net) (-€17,810)
- Receivables within one year +€2,579
up €2,579 (+32.6%), from €7,922 to €10,500
of which Other amounts receivable: +€2,878
- Other debts -€24,915
down €24,915 (-97.8%), from €25,478 to €562
- Debts after one year -€4,074
down €4,074 (-10.2%), from €39,869 to €35,795
- Reserves +€3,009
up €3,009 (+3.1%), from €96,641 to €99,650
of which Distributable reserves: +€3,009
- Tax, wage and social debts +€2,247
up €2,247 (+28.3%), from €7,930 to €10,176
of which Remuneration and social security: +€2,192
- Gross operating margin -€12,950
down €12,950 (-19.7%), from €65,810 to €52,860
- Depreciation -€3,183
down €3,183 (-35.0%), from €9,090 to €5,907
- Other operating charges -€1,969
down €1,969 (-49.4%), from €3,988 to €2,019
- Taxes -€1,781
down €1,781 (-55.1%), from €3,235 to €1,454
- Financial charges +€692
up €692 (+33.9%), from €2,041 to €2,733
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,322 | €173,427 | -€21,895 | -11.2% |
| Fixed assets | 21/28 | €76,427 | €88,330 | +€11,903 | +15.6% |
| Intangible fixed assets | 21 | €1,780 | €1,088 | -€692 | -38.9% |
| Tangible fixed assets | 22/27 | €74,436 | €87,031 | +€12,595 | +16.9% |
| Land and buildings | 22 | €72,793 | €86,051 | +€13,258 | +18.2% |
| Furniture and vehicles | 24 | €1,643 | €979 | -€663 | -40.4% |
| Financial fixed assets | 28 | €211 | €211 | = | 0.0% |
| Current assets | 29/58 | €118,895 | €85,097 | -€33,798 | -28.4% |
| Amounts receivable after more than one year | 29 | €32,500 | €20,500 | -€12,000 | -36.9% |
| Other amounts receivable | 291 | €32,500 | €20,500 | -€12,000 | -36.9% |
| Stocks and contracts in progress | 3 | €32,807 | €15,257 | -€17,551 | -53.5% |
| Stocks | 30/36 | €32,807 | €15,257 | -€17,551 | -53.5% |
| Amounts receivable within one year | 40/41 | €7,922 | €10,500 | +€2,579 | +32.6% |
| Trade receivables | 40 | €5,387 | €5,088 | -€299 | -5.6% |
| Other amounts receivable | 41 | €2,534 | €5,412 | +€2,878 | +114% |
| Cash at bank and in hand | 54/58 | €43,766 | €37,271 | -€6,496 | -14.8% |
| Deferred charges and accrued income | 490/1 | €1,899 | €1,569 | -€330 | -17.4% |
| Total equity and liabilities | 10/49 | €195,322 | €173,427 | -€21,895 | -11.2% |
| Equity | 10/15 | €115,233 | €118,242 | +€3,009 | +2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €96,641 | €99,650 | +€3,009 | +3.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €141 | €141 | = | 0.0% |
| Distributable reserves | 133 | €94,641 | €97,650 | +€3,009 | +3.2% |
| Amounts payable | 17/49 | €80,089 | €55,185 | -€24,904 | -31.1% |
| Amounts payable after more than one year | 17 | €39,869 | €35,795 | -€4,074 | -10.2% |
| Financial debts | 170/4 | €39,869 | €35,795 | -€4,074 | -10.2% |
| Amounts payable within one year | 42/48 | €40,220 | €19,390 | -€20,830 | -51.8% |
| Current portion of amounts payable after more than one year | 42 | €3,917 | €4,074 | +€158 | +4.0% |
| Trade debts | 44 | €2,896 | €4,577 | +€1,681 | +58.1% |
| Suppliers | 440/4 | €2,896 | €4,577 | +€1,681 | +58.1% |
| Taxes, remuneration and social security | 45 | €7,930 | €10,176 | +€2,247 | +28.3% |
| Taxes | 450/3 | €4,641 | €4,696 | +€55 | +1.2% |
| Remuneration and social security | 454/9 | €3,288 | €5,480 | +€2,192 | +66.7% |
| Other amounts payable | 47/48 | €25,478 | €562 | -€24,915 | -97.8% |
| Remuneration, social security and pensions | 62 | €39,405 | €38,982 | -€423 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,090 | €5,907 | -€3,183 | -35.0% |
| Other operating charges | 640/8 | €3,988 | €2,019 | -€1,969 | -49.4% |
| Gross operating margin | 9900 | €65,810 | €52,860 | -€12,950 | -19.7% |
| Operating profit (loss) | 9901 | €13,327 | €5,953 | -€7,374 | -55.3% |
| Financial income | 75/76B | €1,523 | €1,244 | -€279 | -18.3% |
| Recurring financial income | 75 | €1,523 | €1,244 | -€279 | -18.3% |
| Financial charges | 65/66B | €2,041 | €2,733 | +€692 | +33.9% |
| Recurring financial charges | 65 | €2,041 | €2,733 | +€692 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | €12,809 | €4,463 | -€8,346 | -65.2% |
| Income taxes | 67/77 | €3,235 | €1,454 | -€1,781 | -55.1% |
| Profit (loss) for the period | 9904 | €9,574 | €3,009 | -€6,565 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,574 | €3,009 | -€6,565 | -68.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.