Transport Moraru: 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.
Transport Moraru
Largest movements
- Tangible fixed assets +€104,463
up €104,463 (+49.9%), from €209,201 to €313,664
of which Furniture and vehicles: +€105,357
- Cash -€27,515
down €27,515 (-21.1%), from €130,472 to €102,957
mainly Investment in fixed assets (net) (-€216,119) and Contributions, distributions and other (-€64,706)
- Deferred charges and accrued income +€6,338
up €6,338 (+244%), from €2,602 to €8,939
- Debts after one year +€65,315
up €65,315 (+119%), from €54,873 to €120,189
- Tax, wage and social debts +€20,636
up €20,636 (+116%), from €17,794 to €38,430
of which Taxes: +€15,735
- Trade debts +€11,466
up €11,466 (+58.1%), from €19,736 to €31,202
- Reserves -€8,521
down €8,521 (-5.1%), from €167,260 to €158,738
- Gross operating margin +€164,258
up €164,258 (+51.1%), from €321,184 to €485,442
- Staff costs +€77,703
up €77,703 (+63.7%), from €121,947 to €199,649
- Depreciation +€25,310
up €25,310 (+29.3%), from €86,346 to €111,656
- Other operating charges +€21,644
up €21,644 (+29.7%), from €72,894 to €94,538
- Taxes +€5,756
up €5,756 (+87.3%), from €6,593 to €12,350
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 | €378,818 | €460,872 | +€82,054 | +21.7% |
| Fixed assets | 21/28 | €212,888 | €317,351 | +€104,463 | +49.1% |
| Tangible fixed assets | 22/27 | €209,201 | €313,664 | +€104,463 | +49.9% |
| Furniture and vehicles | 24 | €13,104 | €118,461 | +€105,357 | +804% |
| Leasing and similar rights | 25 | €196,096 | €195,203 | -€893 | -0.5% |
| Financial fixed assets | 28 | €3,687 | €3,687 | = | 0.0% |
| Current assets | 29/58 | €165,930 | €143,520 | -€22,410 | -13.5% |
| Amounts receivable within one year | 40/41 | €32,856 | €31,624 | -€1,233 | -3.8% |
| Trade receivables | 40 | €0 | €200 | +€200 | |
| Other amounts receivable | 41 | €32,856 | €31,424 | -€1,433 | -4.4% |
| Cash at bank and in hand | 54/58 | €130,472 | €102,957 | -€27,515 | -21.1% |
| Deferred charges and accrued income | 490/1 | €2,602 | €8,939 | +€6,338 | +244% |
| Total equity and liabilities | 10/49 | €378,818 | €460,872 | +€82,054 | +21.7% |
| Equity | 10/15 | €187,260 | €178,738 | -€8,521 | -4.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €167,260 | €158,738 | -€8,521 | -5.1% |
| Distributable reserves | 133 | €167,260 | €158,738 | -€8,521 | -5.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €191,558 | €282,133 | +€90,575 | +47.3% |
| Amounts payable after more than one year | 17 | €54,873 | €120,189 | +€65,315 | +119% |
| Financial debts | 170/4 | €54,873 | €120,189 | +€65,315 | +119% |
| Amounts payable within one year | 42/48 | €136,685 | €161,945 | +€25,260 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €94,313 | €90,690 | -€3,623 | -3.8% |
| Trade debts | 44 | €19,736 | €31,202 | +€11,466 | +58.1% |
| Suppliers | 440/4 | €19,736 | €31,202 | +€11,466 | +58.1% |
| Taxes, remuneration and social security | 45 | €17,794 | €38,430 | +€20,636 | +116% |
| Taxes | 450/3 | €662 | €16,397 | +€15,735 | +2,378% |
| Remuneration and social security | 454/9 | €17,132 | €22,033 | +€4,901 | +28.6% |
| Other amounts payable | 47/48 | €4,842 | €1,623 | -€3,219 | -66.5% |
| Remuneration, social security and pensions | 62 | €121,947 | €199,649 | +€77,703 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,346 | €111,656 | +€25,310 | +29.3% |
| Other operating charges | 640/8 | €72,894 | €94,538 | +€21,644 | +29.7% |
| Gross operating margin | 9900 | €321,184 | €485,442 | +€164,258 | +51.1% |
| Operating profit (loss) | 9901 | €39,997 | €79,599 | +€39,602 | +99.0% |
| Financial income | 75/76B | €0 | €40 | +€40 | |
| Recurring financial income | 75 | €0 | €40 | +€40 | |
| Financial charges | 65/66B | €13,015 | €11,106 | -€1,909 | -14.7% |
| Recurring financial charges | 65 | €13,015 | €11,106 | -€1,909 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €26,983 | €68,534 | +€41,551 | +154% |
| Income taxes | 67/77 | €6,593 | €12,350 | +€5,756 | +87.3% |
| Profit (loss) for the period | 9904 | €20,390 | €56,185 | +€35,795 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €20,390 | €56,185 | +€35,795 | +176% |
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 31 October 2026 via checked.be.