STEVEN MOORS: 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.
STEVEN MOORS
Largest movements
- Current investments +€224,297
up €224,297 (+74.3%), from €301,845 to €526,143
- Cash +€154,499
up €154,499 (+63.2%), from €244,540 to €399,040
mainly Net result for the year (+€525,335) and Receivables within one year (+€115,248)
- Receivables within one year -€115,248
down €115,248 (-11.8%), from €980,135 to €864,887
of which Other amounts receivable: -€119,478
- Tangible fixed assets -€36,642
down €36,642 (-2.2%), from €1.7m to €1.6m
of which Land and buildings: -€24,136
- Reserves +€350,000
up €350,000 (+31.7%), from €1.1m to €1.5m
of which Non-distributable reserves: +€350,000
- Debts after one year -€169,435
down €169,435 (-50.8%), from €333,588 to €164,154
- Short-term financial debts +€43,150
up €43,150 (+8.0%), from €538,417 to €581,567
- Financial income +€80,910
up €80,910 (+383%), from €21,105 to €102,015
- Depreciation -€27,994
down €27,994 (-43.3%), from €64,636 to €36,642
- Gross operating margin +€22,520
up €22,520 (+3.2%), from €701,534 to €724,054
- Taxes +€22,109
up €22,109 (+11.3%), from €196,028 to €218,137
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 | €3,228,655 | €3,463,295 | +€234,640 | +7.3% |
| Fixed assets | 21/28 | €1,681,677 | €1,645,035 | -€36,642 | -2.2% |
| Tangible fixed assets | 22/27 | €1,679,427 | €1,642,785 | -€36,642 | -2.2% |
| Land and buildings | 22 | €1,664,063 | €1,639,927 | -€24,136 | -1.5% |
| Plant, machinery and equipment | 23 | €1,044 | €304 | -€740 | -70.9% |
| Furniture and vehicles | 24 | €14,320 | €2,554 | -€11,765 | -82.2% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €1,546,979 | €1,818,260 | +€271,281 | +17.5% |
| Amounts receivable within one year | 40/41 | €980,135 | €864,887 | -€115,248 | -11.8% |
| Trade receivables | 40 | €9,470 | €13,700 | +€4,230 | +44.7% |
| Other amounts receivable | 41 | €970,665 | €851,187 | -€119,478 | -12.3% |
| Current investments | 50/53 | €301,845 | €526,143 | +€224,297 | +74.3% |
| Cash at bank and in hand | 54/58 | €244,540 | €399,040 | +€154,499 | +63.2% |
| Deferred charges and accrued income | 490/1 | €20,457 | €28,190 | +€7,733 | +37.8% |
| Total equity and liabilities | 10/49 | €3,228,655 | €3,463,295 | +€234,640 | +7.3% |
| Equity | 10/15 | €2,115,252 | €2,490,588 | +€375,335 | +17.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €1,103,000 | €1,453,000 | +€350,000 | +31.7% |
| Non-distributable reserves | 130/1 | €1,100,000 | €1,450,000 | +€350,000 | +31.8% |
| Other | 1319 | €1,100,000 | €1,450,000 | +€350,000 | +31.8% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €982,252 | €1,007,588 | +€25,335 | +2.6% |
| Amounts payable | 17/49 | €1,113,403 | €972,707 | -€140,696 | -12.6% |
| Amounts payable after more than one year | 17 | €333,588 | €164,154 | -€169,435 | -50.8% |
| Financial debts | 170/4 | €333,588 | €164,154 | -€169,435 | -50.8% |
| Amounts payable within one year | 42/48 | €742,634 | €770,828 | +€28,194 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €177,631 | €169,435 | -€8,196 | -4.6% |
| Financial debts | 43 | €538,417 | €581,567 | +€43,150 | +8.0% |
| Other loans | 439 | €538,417 | €581,567 | +€43,150 | +8.0% |
| Trade debts | 44 | €2,441 | €6,050 | +€3,609 | +148% |
| Suppliers | 440/4 | €2,441 | €6,050 | +€3,609 | +148% |
| Taxes, remuneration and social security | 45 | €20,335 | €9,966 | -€10,369 | -51.0% |
| Taxes | 450/3 | €20,335 | €9,966 | -€10,369 | -51.0% |
| Other amounts payable | 47/48 | €3,810 | €3,810 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €37,181 | €37,725 | +€545 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,636 | €36,642 | -€27,994 | -43.3% |
| Other operating charges | 640/8 | €6,972 | €7,204 | +€231 | +3.3% |
| Gross operating margin | 9900 | €701,534 | €724,054 | +€22,520 | +3.2% |
| Operating profit (loss) | 9901 | €629,926 | €680,209 | +€50,283 | +8.0% |
| Financial income | 75/76B | €21,105 | €102,015 | +€80,910 | +383% |
| Recurring financial income | 75 | €21,105 | €102,015 | +€80,910 | +383% |
| Financial charges | 65/66B | €39,848 | €38,752 | -€1,096 | -2.8% |
| Recurring financial charges | 65 | €39,848 | €38,752 | -€1,096 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €611,183 | €743,472 | +€132,289 | +21.6% |
| Income taxes | 67/77 | €196,028 | €218,137 | +€22,109 | +11.3% |
| Profit (loss) for the period | 9904 | €415,155 | €525,335 | +€110,180 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €415,155 | €525,335 | +€110,180 | +26.5% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.