TOITURES MOREAU: 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.
TOITURES MOREAU
Largest movements
- Receivables within one year +€32,661
up €32,661 (+462%), from €7,076 to €39,737
of which Trade receivables: +€21,755
- Tangible fixed assets -€20,015
down €20,015 (-24.5%), from €81,819 to €61,804
- Cash -€9,210
down €9,210 (-2.1%), from €443,852 to €434,643
mainly Contributions, distributions and other (-€80,845) and Receivables within one year (-€32,661)
- Profit (loss) carried forward -€53,770
down €53,770 (-23.4%), from €229,968 to €176,199
- Accrued charges and deferred income +€53,008
up €53,008 (+1,288%), from €4,116 to €57,124
- Tax, wage and social debts -€29,401
down €29,401 (-58.6%), from €50,207 to €20,806
of which Taxes: -€27,328
- Other debts +€20,530
up €20,530 (+22.4%), from €91,702 to €112,232
- Trade debts +€16,047
up €16,047 (+87.1%), from €18,427 to €34,474
- Gross operating margin -€81,711
down €81,711 (-34.0%), from €239,989 to €158,277
- Taxes -€21,493
down €21,493 (-73.4%), from €29,297 to €7,804
- Staff costs -€13,109
down €13,109 (-12.0%), from €109,186 to €96,077
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 | €573,702 | €579,271 | +€5,569 | +1.0% |
| Fixed assets | 21/28 | €86,584 | €66,569 | -€20,015 | -23.1% |
| Tangible fixed assets | 22/27 | €81,819 | €61,804 | -€20,015 | -24.5% |
| Land and buildings | 22 | €35,917 | €29,168 | -€6,748 | -18.8% |
| Plant, machinery and equipment | 23 | €28,877 | €21,215 | -€7,662 | -26.5% |
| Furniture and vehicles | 24 | €17,025 | €11,421 | -€5,605 | -32.9% |
| Financial fixed assets | 28 | €4,765 | €4,765 | = | 0.0% |
| Current assets | 29/58 | €487,118 | €512,702 | +€25,584 | +5.3% |
| Stocks and contracts in progress | 3 | €30,129 | €32,998 | +€2,869 | +9.5% |
| Stocks | 30/36 | €30,129 | €32,998 | +€2,869 | +9.5% |
| Amounts receivable within one year | 40/41 | €7,076 | €39,737 | +€32,661 | +462% |
| Trade receivables | 40 | €3,451 | €25,206 | +€21,755 | +630% |
| Other amounts receivable | 41 | €3,625 | €14,530 | +€10,906 | +301% |
| Cash at bank and in hand | 54/58 | €443,852 | €434,643 | -€9,210 | -2.1% |
| Deferred charges and accrued income | 490/1 | €6,061 | €5,325 | -€736 | -12.1% |
| Total equity and liabilities | 10/49 | €573,702 | €579,271 | +€5,569 | +1.0% |
| Equity | 10/15 | €409,250 | €354,635 | -€54,615 | -13.3% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €154,515 | €154,515 | = | 0.0% |
| Distributable reserves | 133 | €154,515 | €154,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,968 | €176,199 | -€53,770 | -23.4% |
| Investment grants | 15 | €4,315 | €3,469 | -€845 | -19.6% |
| Amounts payable | 17/49 | €164,452 | €224,636 | +€60,184 | +36.6% |
| Amounts payable within one year | 42/48 | €160,336 | €167,512 | +€7,176 | +4.5% |
| Trade debts | 44 | €18,427 | €34,474 | +€16,047 | +87.1% |
| Suppliers | 440/4 | €18,427 | €34,474 | +€16,047 | +87.1% |
| Taxes, remuneration and social security | 45 | €50,207 | €20,806 | -€29,401 | -58.6% |
| Taxes | 450/3 | €41,025 | €13,697 | -€27,328 | -66.6% |
| Remuneration and social security | 454/9 | €9,182 | €7,109 | -€2,073 | -22.6% |
| Other amounts payable | 47/48 | €91,702 | €112,232 | +€20,530 | +22.4% |
| Accrued charges and deferred income | 492/3 | €4,116 | €57,124 | +€53,008 | +1,288% |
| Remuneration, social security and pensions | 62 | €109,186 | €96,077 | -€13,109 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,131 | €20,015 | +€1,884 | +10.4% |
| Other operating charges | 640/8 | €5,565 | €5,436 | -€129 | -2.3% |
| Gross operating margin | 9900 | €239,989 | €158,277 | -€81,711 | -34.0% |
| Operating profit (loss) | 9901 | €107,106 | €36,749 | -€70,357 | -65.7% |
| Financial income | 75/76B | €3,012 | €4,100 | +€1,088 | +36.1% |
| Recurring financial income | 75 | €3,012 | €4,100 | +€1,088 | +36.1% |
| Financial charges | 65/66B | €7,862 | €6,815 | -€1,047 | -13.3% |
| Recurring financial charges | 65 | €7,862 | €6,815 | -€1,047 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €102,257 | €34,034 | -€68,223 | -66.7% |
| Income taxes | 67/77 | €29,297 | €7,804 | -€21,493 | -73.4% |
| Profit (loss) for the period | 9904 | €72,959 | €26,230 | -€46,729 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,959 | €26,230 | -€46,729 | -64.0% |
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 28 October 2026 via checked.be.