Scheepsherstellingen Moordtgat: 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.
What changed
Scheepsherstellingen Moordtgat
NACE 33.150, Repair, maintenance and installation of machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€68,314
2024 · €263,727-€195,413
Equity
€2.8m
2024 · €2.8m+€68,314
Cash
€203,674
2024 · €307,209-€103,535
Balance sheet total
€4.3m
2024 · €4.3m-€58,647
Largest movements
Assets
- Cash -€103,535
down €103,535 (-33.7%), from €307,209 to €203,674
mainly Short-term financial debts (-€113,271) and Other debts (-€108,250)
- Deferred charges and accrued income +€49,277
up €49,277 (+63.7%), from €77,375 to €126,651
Equity and liabilities
- Trade debts +€132,524
up €132,524 (+13.7%), from €966,778 to €1.1m
- Short-term financial debts -€113,271
down €113,271 (-100%), from €113,271 to €0
- Other debts -€108,250
down €108,250 (-100%), from €108,250 to €0
- Profit (loss) carried forward +€68,314
up €68,314 (+3.3%), from €2.1m to €2.1m
Income statement
- Staff costs +€112,406
up €112,406 (+10.2%), from €1.1m to €1.2m
- Gross operating margin -€59,555
down €59,555 (-4.0%), from €1.5m to €1.4m
- Taxes -€45,662
down €45,662 (-50.8%), from €89,921 to €44,259
- Provisions +€33,500
up €33,500, from €0 to €33,500
- Write-downs +€26,660
up €26,660, from -€16,987 to €9,673
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.
Result 2024
€263,727
Gross operating margin
-€59,555
Staff costs
-€112,406
Depreciation
-€9,068
Write-downs
-€26,660
Provisions
-€33,500
Other operating charges
-€8,809
Financial income
+€7,765
Financial charges
+€1,158
Taxes
+€45,662
Result 2025
€68,314
raises the resultlowers the result
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.
From operations
+€109,279
Investment
-€63,056
Financing
-€149,757
Cash 2024
€307,209
From operations (derived)
+€109,279
Net result for the year
+€68,314
Depreciation
+€86,529
Stocks and contracts
-€8,758
Receivables within one year
-€10,326
Deferred charges and accrued income
-€49,277
Provisions
+€33,500
Trade debts
+€132,524
Tax, wage and social debts
-€30,941
Other debts
-€108,250
Accrued charges and deferred income
-€4,037
Investment (derived)
-€63,056
Investment in fixed assets (net)
-€48,057
Current investments
-€14,999
Financing
-€149,757
Debts after one year
-€38,109
Current portion of long-term debt
+€1,623
Short-term financial debts
-€113,271
Cash 2025
€203,674
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,311,806 | €4,253,158 | -€58,647 | -1.4% |
| Fixed assets | 21/28 | €293,295 | €254,823 | -€38,472 | -13.1% |
| Tangible fixed assets | 22/27 | €293,295 | €254,823 | -€38,472 | -13.1% |
| Land and buildings | 22 | €35,422 | €30,265 | -€5,157 | -14.6% |
| Plant, machinery and equipment | 23 | €153,913 | €108,349 | -€45,564 | -29.6% |
| Furniture and vehicles | 24 | €103,960 | €116,209 | +€12,249 | +11.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,018,511 | €3,998,335 | -€20,176 | -0.5% |
| Stocks and contracts in progress | 3 | €200,553 | €209,311 | +€8,758 | +4.4% |
| Stocks | 30/36 | €200,553 | €209,311 | +€8,758 | +4.4% |
| Amounts receivable within one year | 40/41 | €1,403,061 | €1,413,387 | +€10,326 | +0.7% |
| Trade receivables | 40 | €837,752 | €1,028,868 | +€191,116 | +22.8% |
| Other amounts receivable | 41 | €565,309 | €384,519 | -€180,790 | -32.0% |
| Current investments | 50/53 | €2,030,313 | €2,045,312 | +€14,999 | +0.7% |
| Cash at bank and in hand | 54/58 | €307,209 | €203,674 | -€103,535 | -33.7% |
| Deferred charges and accrued income | 490/1 | €77,375 | €126,651 | +€49,277 | +63.7% |
| Total equity and liabilities | 10/49 | €4,311,806 | €4,253,158 | -€58,647 | -1.4% |
| Equity | 10/15 | €2,756,546 | €2,824,860 | +€68,314 | +2.5% |
| Contributions | 10/11 | €625,000 | €625,000 | = | 0.0% |
| Reserves | 13 | €62,500 | €62,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62,500 | €62,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €62,500 | €62,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,069,046 | €2,137,360 | +€68,314 | +3.3% |
| Provisions and deferred taxes | 16 | - | €33,500 | +€33,500 | |
| Provisions for liabilities and charges | 160/5 | - | €33,500 | +€33,500 | |
| Other liabilities and charges | 164/5 | - | €33,500 | +€33,500 | |
| Amounts payable | 17/49 | €1,555,260 | €1,394,799 | -€160,461 | -10.3% |
| Amounts payable after more than one year | 17 | €88,137 | €50,028 | -€38,109 | -43.2% |
| Financial debts | 170/4 | €88,137 | €50,028 | -€38,109 | -43.2% |
| Amounts payable within one year | 42/48 | €1,393,678 | €1,275,363 | -€118,315 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €36,486 | €38,109 | +€1,623 | +4.4% |
| Financial debts | 43 | €113,271 | €0 | -€113,271 | -100% |
| Other loans | 439 | €113,271 | €0 | -€113,271 | -100% |
| Trade debts | 44 | €966,778 | €1,099,302 | +€132,524 | +13.7% |
| Suppliers | 440/4 | €966,778 | €1,099,302 | +€132,524 | +13.7% |
| Taxes, remuneration and social security | 45 | €168,893 | €137,952 | -€30,941 | -18.3% |
| Taxes | 450/3 | €35,550 | €5,131 | -€30,419 | -85.6% |
| Remuneration and social security | 454/9 | €133,342 | €132,820 | -€522 | -0.4% |
| Other amounts payable | 47/48 | €108,250 | €0 | -€108,250 | -100% |
| Accrued charges and deferred income | 492/3 | €73,446 | €69,408 | -€4,037 | -5.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,096,994 | €1,209,400 | +€112,406 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,461 | €86,529 | +€9,068 | +11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,987 | €9,673 | +€26,660 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €33,500 | +€33,500 | |
| Other operating charges | 640/8 | €22,736 | €31,545 | +€8,809 | +38.7% |
| Gross operating margin | 9900 | €1,502,725 | €1,443,170 | -€59,555 | -4.0% |
| Operating profit (loss) | 9901 | €322,522 | €72,523 | -€249,999 | -77.5% |
| Financial income | 75/76B | €51,276 | €59,041 | +€7,765 | +15.1% |
| Recurring financial income | 75 | €51,276 | €59,041 | +€7,765 | +15.1% |
| Financial charges | 65/66B | €20,149 | €18,991 | -€1,158 | -5.7% |
| Recurring financial charges | 65 | €20,149 | €18,991 | -€1,158 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €353,649 | €112,573 | -€241,076 | -68.2% |
| Income taxes | 67/77 | €89,921 | €44,259 | -€45,662 | -50.8% |
| Profit (loss) for the period | 9904 | €263,727 | €68,314 | -€195,413 | -74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €263,727 | €68,314 | -€195,413 | -74.1% |
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 30 October 2026 via checked.be.