Im developing a .net system for a new customer, we have no contract, im providing the website which they are hosting on their own server and providing access to it to their customers at a price.

Must I provide the source or is it morally ok to compile the code and just provide them the runtime.

I developed the system so it is a expandable - ie they may need to add modules to it - this can be done without modifying any code - it can be done in the Admin area of the site.

If you get paid for it then you must have, but make sure you add a comment disclaimer to be able to make use of part / entire code for other projects you might work on, in the future.

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I'd worry about the lack of a contract.

Was the code written for them from scratch?

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ive never had a contract for any sites i have done,

yeah its a bespoke system ( CMS ) im developing for them but uses pieces of work for a system i was developing for myself that i never got finished. im planning on finishing my own system which will be similar to what i am developing for them

I would not supply the source code as they are effectively just buying the rights / a license to use the software. Unless you're on a daily rate as a contractor, then I don't think they would own the source code at all.