M.N.S.: 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.
M.N.S.
Largest movements
- Receivables after one year +€105,543
new in 2025: €105,543
- Receivables within one year -€45,148
down €45,148 (-37.4%), from €120,865 to €75,717
of which Other amounts receivable: -€47,072
- Tangible fixed assets -€5,725
down €5,725 (-59.1%), from €9,681 to €3,956
of which Furniture and vehicles: -€5,681
- Cash +€4,457
up €4,457 (+24.0%), from €18,577 to €23,034
mainly Receivables within one year (+€45,148) and Net result for the year (+€43,646)
- Reserves +€93,270
new in 2025: €93,270
- Profit (loss) carried forward -€49,623
no longer reported in 2025 (was €49,623)
- Tax, wage and social debts +€13,699
up €13,699 (+52.0%), from €26,332 to €40,031
of which Taxes: +€12,249
- Gross operating margin +€35,178
up €35,178 (+115%), from €30,693 to €65,871
- Staff costs -€17,287
down €17,287 (-96.3%), from €17,956 to €670
- Taxes +€9,856
up €9,856 (+344%), from €2,869 to €12,725
- Financial income -€1,851
down €1,851 (-99.9%), from €1,852 to €1
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 | €149,122 | €208,249 | +€59,127 | +39.6% |
| Fixed assets | 21/28 | €9,681 | €3,956 | -€5,725 | -59.1% |
| Tangible fixed assets | 22/27 | €9,681 | €3,956 | -€5,725 | -59.1% |
| Plant, machinery and equipment | 23 | €139 | €95 | -€44 | -31.9% |
| Furniture and vehicles | 24 | €9,542 | €3,861 | -€5,681 | -59.5% |
| Current assets | 29/58 | €139,441 | €204,293 | +€64,852 | +46.5% |
| Amounts receivable after more than one year | 29 | - | €105,543 | +€105,543 | |
| Other amounts receivable | 291 | - | €105,543 | +€105,543 | |
| Amounts receivable within one year | 40/41 | €120,865 | €75,717 | -€45,148 | -37.4% |
| Trade receivables | 40 | €57,920 | €59,844 | +€1,924 | +3.3% |
| Other amounts receivable | 41 | €62,945 | €15,873 | -€47,072 | -74.8% |
| Cash at bank and in hand | 54/58 | €18,577 | €23,034 | +€4,457 | +24.0% |
| Total equity and liabilities | 10/49 | €149,122 | €208,249 | +€59,127 | +39.6% |
| Equity | 10/15 | €68,223 | €111,870 | +€43,646 | +64.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €93,270 | +€93,270 | |
| Distributable reserves | 133 | - | €93,270 | +€93,270 | |
| Profit (loss) carried forward | 14 | €49,623 | - | -€49,623 | |
| Amounts payable | 17/49 | €80,898 | €96,379 | +€15,480 | +19.1% |
| Amounts payable within one year | 42/48 | €80,898 | €96,379 | +€15,480 | +19.1% |
| Trade debts | 44 | €49,617 | €51,398 | +€1,781 | +3.6% |
| Suppliers | 440/4 | €49,617 | €51,398 | +€1,781 | +3.6% |
| Advances received on contracts in progress | 46 | €4,950 | €4,950 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,332 | €40,031 | +€13,699 | +52.0% |
| Taxes | 450/3 | €11,880 | €24,129 | +€12,249 | +103% |
| Remuneration and social security | 454/9 | €14,452 | €15,902 | +€1,450 | +10.0% |
| Remuneration, social security and pensions | 62 | €17,956 | €670 | -€17,287 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,241 | €5,725 | -€516 | -8.3% |
| Other operating charges | 640/8 | €2,711 | €2,639 | -€72 | -2.6% |
| Gross operating margin | 9900 | €30,693 | €65,871 | +€35,178 | +115% |
| Operating profit (loss) | 9901 | €3,784 | €56,837 | +€53,053 | +1,402% |
| Financial income | 75/76B | €1,852 | €1 | -€1,851 | -99.9% |
| Recurring financial income | 75 | €1,852 | €1 | -€1,851 | -99.9% |
| Financial charges | 65/66B | €608 | €467 | -€142 | -23.3% |
| Recurring financial charges | 65 | €608 | €467 | -€142 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €5,028 | €56,371 | +€51,343 | +1,021% |
| Income taxes | 67/77 | €2,869 | €12,725 | +€9,856 | +344% |
| Profit (loss) for the period | 9904 | €2,159 | €43,646 | +€41,487 | +1,921% |
| Profit (loss) for the period to be appropriated | 9905 | €2,159 | €43,646 | +€41,487 | +1,921% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.