MOROXCO: 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.
MOROXCO
Largest movements
- Current investments +€71,554
up €71,554 (+161%), from €44,316 to €115,870
- Tangible fixed assets +€58,541
up €58,541 (+130%), from €45,132 to €103,674
of which Leasing and similar rights: +€56,745
- Receivables within one year +€44,676
up €44,676 (+148%), from €30,237 to €74,913
of which Trade receivables: +€45,008
- Cash +€29,854
up €29,854 (+55.1%), from €54,207 to €84,061
mainly Current portion of long-term debt (+€259,518) and Net result for the year (+€248,652)
- Receivables after one year +€20,000
up €20,000 (+33.3%), from €60,000 to €80,000
- Current portion of long-term debt +€259,518
up €259,518 (+454%), from €57,211 to €316,729
- Debts after one year -€254,224
down €254,224 (-18.1%), from €1.4m to €1.1m
- Profit (loss) carried forward +€248,652
up €248,652 (+18.8%), from -€1.3m to -€1.1m
- Other debts -€20,584
down €20,584 (-26.7%), from €77,191 to €56,608
- Gross operating margin +€90,419
up €90,419 (+37.5%), from €241,063 to €331,483
- Depreciation +€9,252
up €9,252 (+96.4%), from €9,593 to €18,845
- Financial income +€7,371
up €7,371 (+1,118%), from €659 to €8,030
- Financial charges +€5,177
up €5,177 (+11.8%), from €43,777 to €48,954
of which Financial charges: +€5,177
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 | €261,260 | €495,431 | +€234,171 | +89.6% |
| Fixed assets | 21/28 | €64,257 | €138,924 | +€74,666 | +116% |
| Tangible fixed assets | 22/27 | €45,132 | €103,674 | +€58,541 | +130% |
| Plant, machinery and equipment | 23 | €4,980 | €4,300 | -€680 | -13.7% |
| Furniture and vehicles | 24 | €12,098 | €7,755 | -€4,343 | -35.9% |
| Leasing and similar rights | 25 | €13,517 | €70,263 | +€56,745 | +420% |
| Other tangible fixed assets | 26 | €14,537 | €21,356 | +€6,819 | +46.9% |
| Financial fixed assets | 28 | €19,125 | €35,250 | +€16,125 | +84.3% |
| Current assets | 29/58 | €197,003 | €356,507 | +€159,505 | +81.0% |
| Amounts receivable after more than one year | 29 | €60,000 | €80,000 | +€20,000 | +33.3% |
| Other amounts receivable | 291 | €60,000 | €80,000 | +€20,000 | +33.3% |
| Amounts receivable within one year | 40/41 | €30,237 | €74,913 | +€44,676 | +148% |
| Trade receivables | 40 | €29,487 | €74,495 | +€45,008 | +153% |
| Other amounts receivable | 41 | €750 | €418 | -€331 | -44.2% |
| Current investments | 50/53 | €44,316 | €115,870 | +€71,554 | +161% |
| Cash at bank and in hand | 54/58 | €54,207 | €84,061 | +€29,854 | +55.1% |
| Deferred charges and accrued income | 490/1 | €8,243 | €1,664 | -€6,580 | -79.8% |
| Total equity and liabilities | 10/49 | €261,260 | €495,431 | +€234,171 | +89.6% |
| Equity | 10/15 | -€1,301,890 | -€1,053,238 | +€248,652 | +19.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,321,890 | -€1,073,238 | +€248,652 | +18.8% |
| Amounts payable | 17/49 | €1,563,150 | €1,548,669 | -€14,481 | -0.9% |
| Amounts payable after more than one year | 17 | €1,403,613 | €1,149,389 | -€254,224 | -18.1% |
| Financial debts | 170/4 | €1,403,613 | €1,149,389 | -€254,224 | -18.1% |
| Amounts payable within one year | 42/48 | €159,411 | €399,280 | +€239,869 | +150% |
| Current portion of amounts payable after more than one year | 42 | €57,211 | €316,729 | +€259,518 | +454% |
| Financial debts | 43 | €36 | €0 | -€36 | -100% |
| Credit institutions | 430/8 | €36 | €0 | -€36 | -100% |
| Trade debts | 44 | €6,929 | €3,311 | -€3,619 | -52.2% |
| Suppliers | 440/4 | €6,929 | €3,311 | -€3,619 | -52.2% |
| Taxes, remuneration and social security | 45 | €18,043 | €22,632 | +€4,589 | +25.4% |
| Taxes | 450/3 | €16,749 | €21,194 | +€4,445 | +26.5% |
| Remuneration and social security | 454/9 | €1,295 | €1,438 | +€144 | +11.1% |
| Other amounts payable | 47/48 | €77,191 | €56,608 | -€20,584 | -26.7% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100% |
| Remuneration, social security and pensions | 62 | €14,665 | €15,369 | +€704 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,593 | €18,845 | +€9,252 | +96.4% |
| Other operating charges | 640/8 | €2,447 | €3,759 | +€1,312 | +53.6% |
| Non-recurring operating charges | 66A | - | €3,294 | +€3,294 | |
| Gross operating margin | 9900 | €241,063 | €331,483 | +€90,419 | +37.5% |
| Operating profit (loss) | 9901 | €214,358 | €290,216 | +€75,857 | +35.4% |
| Financial income | 75/76B | €659 | €8,030 | +€7,371 | +1,118% |
| Recurring financial income | 75 | €659 | €8,030 | +€7,371 | +1,118% |
| Financial charges | 65/66B | €43,777 | €48,954 | +€5,177 | +11.8% |
| Recurring financial charges | 65 | €43,777 | €48,954 | +€5,177 | +11.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €171,240 | €249,292 | +€78,051 | +45.6% |
| Income taxes | 67/77 | €349 | €640 | +€291 | +83.3% |
| Profit (loss) for the period | 9904 | €170,892 | €248,652 | +€77,761 | +45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €170,892 | €248,652 | +€77,761 | +45.5% |
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 24 October 2026 via checked.be.