Schilderwerken Morel: 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.
Schilderwerken Morel
Largest movements
- Tangible fixed assets -€18,872
down €18,872 (-35.8%), from €52,663 to €33,791
of which Furniture and vehicles: -€16,576
- Stocks and contracts -€4,933
down €4,933 (-54.0%), from €9,141 to €4,207
- Cash -€4,661
down €4,661 (-36.5%), from €12,780 to €8,119
mainly Other debts (-€20,828) and Current portion of long-term debt (-€9,412)
- Receivables within one year -€2,878
down €2,878 (-7.6%), from €37,860 to €34,982
of which Trade receivables: -€6,098
- Other debts -€20,828
down €20,828 (-82.0%), from €25,401 to €4,573
- Current portion of long-term debt -€9,412
down €9,412 (-50.8%), from €18,541 to €9,129
- Debts after one year -€9,129
down €9,129 (-65.9%), from €13,844 to €4,714
- Reserves +€7,708
up €7,708 (+50.8%), from €15,163 to €22,871
- Trade debts -€3,940
down €3,940 (-15.9%), from €24,786 to €20,846
- Gross operating margin +€124,033
up €124,033 (+238%), from €52,190 to €176,223
- Staff costs +€112,091
up €112,091 (+462%), from €24,256 to €136,347
- Depreciation +€17,713
up €17,713 (+287%), from €6,182 to €23,894
- Financial charges +€1,792
up €1,792 (+281%), from €639 to €2,431
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 | €114,653 | €83,124 | -€31,529 | -27.5% |
| Fixed assets | 21/28 | €52,663 | €33,791 | -€18,872 | -35.8% |
| Tangible fixed assets | 22/27 | €52,663 | €33,791 | -€18,872 | -35.8% |
| Plant, machinery and equipment | 23 | €6,316 | €4,020 | -€2,296 | -36.4% |
| Furniture and vehicles | 24 | €46,348 | €29,772 | -€16,576 | -35.8% |
| Current assets | 29/58 | €61,990 | €49,333 | -€12,657 | -20.4% |
| Stocks and contracts in progress | 3 | €9,141 | €4,207 | -€4,933 | -54.0% |
| Stocks | 30/36 | €9,141 | €4,207 | -€4,933 | -54.0% |
| Amounts receivable within one year | 40/41 | €37,860 | €34,982 | -€2,878 | -7.6% |
| Trade receivables | 40 | €37,620 | €31,522 | -€6,098 | -16.2% |
| Other amounts receivable | 41 | €240 | €3,460 | +€3,220 | +1,340% |
| Cash at bank and in hand | 54/58 | €12,780 | €8,119 | -€4,661 | -36.5% |
| Deferred charges and accrued income | 490/1 | €2,209 | €2,025 | -€184 | -8.3% |
| Total equity and liabilities | 10/49 | €114,653 | €83,124 | -€31,529 | -27.5% |
| Equity | 10/15 | €18,163 | €25,871 | +€7,708 | +42.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,163 | €22,871 | +€7,708 | +50.8% |
| Distributable reserves | 133 | €15,163 | €22,871 | +€7,708 | +50.8% |
| Amounts payable | 17/49 | €96,490 | €57,253 | -€39,237 | -40.7% |
| Amounts payable after more than one year | 17 | €13,844 | €4,714 | -€9,129 | -65.9% |
| Financial debts | 170/4 | €13,844 | €4,714 | -€9,129 | -65.9% |
| Amounts payable within one year | 42/48 | €82,647 | €51,644 | -€31,003 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | €18,541 | €9,129 | -€9,412 | -50.8% |
| Financial debts | 43 | €172 | €50 | -€122 | -70.9% |
| Credit institutions | 430/8 | €172 | €50 | -€122 | -70.9% |
| Trade debts | 44 | €24,786 | €20,846 | -€3,940 | -15.9% |
| Suppliers | 440/4 | €24,786 | €20,846 | -€3,940 | -15.9% |
| Taxes, remuneration and social security | 45 | €13,747 | €17,045 | +€3,298 | +24.0% |
| Taxes | 450/3 | €6,318 | €7,576 | +€1,258 | +19.9% |
| Remuneration and social security | 454/9 | €7,429 | €9,469 | +€2,041 | +27.5% |
| Other amounts payable | 47/48 | €25,401 | €4,573 | -€20,828 | -82.0% |
| Accrued charges and deferred income | 492/3 | - | €896 | +€896 | |
| Remuneration, social security and pensions | 62 | €24,256 | €136,347 | +€112,091 | +462% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,182 | €23,894 | +€17,713 | +287% |
| Other operating charges | 640/8 | €494 | €1,750 | +€1,256 | +254% |
| Gross operating margin | 9900 | €52,190 | €176,223 | +€124,033 | +238% |
| Operating profit (loss) | 9901 | €21,258 | €14,232 | -€7,026 | -33.1% |
| Financial income | 75/76B | - | €62 | +€62 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Financial charges | 65/66B | €639 | €2,431 | +€1,792 | +281% |
| Recurring financial charges | 65 | €639 | €2,431 | +€1,792 | +281% |
| Profit (loss) for the period before taxes | 9903 | €20,619 | €11,863 | -€8,756 | -42.5% |
| Income taxes | 67/77 | €5,456 | €4,155 | -€1,301 | -23.9% |
| Profit (loss) for the period | 9904 | €15,163 | €7,708 | -€7,455 | -49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,163 | €7,708 | -€7,455 | -49.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.