DP MSKW: 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.
DP MSKW
Largest movements
- Cash -€58,597
down €58,597 (-53.8%), from €108,971 to €50,374
mainly Contributions, distributions and other (-€116,434) and Debts after one year (-€22,182)
- Tangible fixed assets -€36,820
down €36,820 (-25.1%), from €146,664 to €109,844
of which Other tangible fixed assets: -€36,602
- Receivables within one year +€4,040
up €4,040 (+370%), from €1,092 to €5,132
of which Other amounts receivable: +€3,456
- Reserves -€82,492
down €82,492 (-50.1%), from €164,580 to €82,088
- Tax, wage and social debts +€24,134
up €24,134 (+223%), from €10,808 to €34,943
of which Remuneration and social security: +€20,079
- Debts after one year -€22,182
down €22,182 (-100%), from €22,182 to €0
- Current portion of long-term debt -€15,254
down €15,254 (-40.7%), from €37,436 to €22,182
- Staff costs +€58,480
up €58,480 (+34.2%), from €170,874 to €229,354
- Gross operating margin +€11,459
up €11,459 (+3.8%), from €303,837 to €315,295
- Taxes -€5,254
down €5,254 (-28.9%), from €18,192 to €12,938
- Depreciation -€4,511
down €4,511 (-10.9%), from €41,330 to €36,820
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 | €263,061 | €172,106 | -€90,955 | -34.6% |
| Fixed assets | 21/28 | €149,664 | €112,844 | -€36,820 | -24.6% |
| Tangible fixed assets | 22/27 | €146,664 | €109,844 | -€36,820 | -25.1% |
| Plant, machinery and equipment | 23 | €169 | €37 | -€132 | -77.8% |
| Furniture and vehicles | 24 | €86 | €0 | -€86 | -100% |
| Other tangible fixed assets | 26 | €146,409 | €109,807 | -€36,602 | -25.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €113,397 | €59,262 | -€54,135 | -47.7% |
| Stocks and contracts in progress | 3 | €2,671 | €3,756 | +€1,085 | +40.6% |
| Stocks | 30/36 | €2,671 | €3,756 | +€1,085 | +40.6% |
| Amounts receivable within one year | 40/41 | €1,092 | €5,132 | +€4,040 | +370% |
| Trade receivables | 40 | €1,092 | €1,676 | +€584 | +53.5% |
| Other amounts receivable | 41 | €0 | €3,456 | +€3,456 | |
| Cash at bank and in hand | 54/58 | €108,971 | €50,374 | -€58,597 | -53.8% |
| Deferred charges and accrued income | 490/1 | €663 | €0 | -€663 | -100% |
| Total equity and liabilities | 10/49 | €263,061 | €172,106 | -€90,955 | -34.6% |
| Equity | 10/15 | €164,581 | €82,089 | -€82,492 | -50.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €164,580 | €82,088 | -€82,492 | -50.1% |
| Distributable reserves | 133 | €164,580 | €82,088 | -€82,492 | -50.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,480 | €90,017 | -€8,463 | -8.6% |
| Amounts payable after more than one year | 17 | €22,182 | €0 | -€22,182 | -100% |
| Financial debts | 170/4 | €22,182 | €0 | -€22,182 | -100% |
| Amounts payable within one year | 42/48 | €76,298 | €90,017 | +€13,718 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €37,436 | €22,182 | -€15,254 | -40.7% |
| Trade debts | 44 | €22,621 | €25,091 | +€2,470 | +10.9% |
| Suppliers | 440/4 | €22,621 | €25,091 | +€2,470 | +10.9% |
| Taxes, remuneration and social security | 45 | €10,808 | €34,943 | +€24,134 | +223% |
| Taxes | 450/3 | €8,466 | €12,521 | +€4,055 | +47.9% |
| Remuneration and social security | 454/9 | €2,342 | €22,421 | +€20,079 | +857% |
| Other amounts payable | 47/48 | €5,434 | €7,802 | +€2,368 | +43.6% |
| Remuneration, social security and pensions | 62 | €170,874 | €229,354 | +€58,480 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,330 | €36,820 | -€4,511 | -10.9% |
| Other operating charges | 640/8 | €1,933 | €2,177 | +€244 | +12.6% |
| Gross operating margin | 9900 | €303,837 | €315,295 | +€11,459 | +3.8% |
| Operating profit (loss) | 9901 | €89,700 | €46,945 | -€42,755 | -47.7% |
| Financial income | 75/76B | €8 | €793 | +€785 | +9,849% |
| Recurring financial income | 75 | €8 | €793 | +€785 | +9,849% |
| Financial charges | 65/66B | €1,869 | €857 | -€1,011 | -54.1% |
| Recurring financial charges | 65 | €1,869 | €857 | -€1,011 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €87,839 | €46,881 | -€40,958 | -46.6% |
| Income taxes | 67/77 | €18,192 | €12,938 | -€5,254 | -28.9% |
| Profit (loss) for the period | 9904 | €69,647 | €33,943 | -€35,704 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,647 | €33,943 | -€35,704 | -51.3% |
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.