M.S. BUILD: 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.S. BUILD
Largest movements
- Receivables within one year -€4,527
no longer reported in 2025 (was €4,527)
of which Trade receivables: -€3,783
- Cash +€3,950
up €3,950 (+48.0%), from €8,221 to €12,171
mainly Receivables within one year (+€4,527) and Tax, wage and social debts (+€2,529)
- Trade debts -€3,961
no longer reported in 2025 (was €3,961)
- Tax, wage and social debts +€2,529
new in 2025: €2,529
- Profit (loss) carried forward +€854
up €854 (+12.6%), from €6,787 to €7,641
- Taxes +€1,293
new in 2025: €1,293
- Gross operating margin -€657
down €657 (-25.3%), from €2,603 to €1,945
- Financial charges -€337
down €337, from €135 to -€202
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 | €12,748 | €12,171 | -€578 | -4.5% |
| Current assets | 29/58 | €12,748 | €12,171 | -€578 | -4.5% |
| Amounts receivable within one year | 40/41 | €4,527 | - | -€4,527 | |
| Trade receivables | 40 | €3,783 | - | -€3,783 | |
| Other amounts receivable | 41 | €744 | - | -€744 | |
| Cash at bank and in hand | 54/58 | €8,221 | €12,171 | +€3,950 | +48.0% |
| Total equity and liabilities | 10/49 | €12,748 | €12,171 | -€578 | -4.5% |
| Equity | 10/15 | €8,787 | €9,641 | +€854 | +9.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,787 | €7,641 | +€854 | +12.6% |
| Amounts payable | 17/49 | €3,961 | €2,529 | -€1,431 | -36.1% |
| Amounts payable within one year | 42/48 | €3,961 | €2,529 | -€1,431 | -36.1% |
| Trade debts | 44 | €3,961 | - | -€3,961 | |
| Suppliers | 440/4 | €3,961 | - | -€3,961 | |
| Taxes, remuneration and social security | 45 | - | €2,529 | +€2,529 | |
| Taxes | 450/3 | - | €2,529 | +€2,529 | |
| Gross operating margin | 9900 | €2,603 | €1,945 | -€657 | -25.3% |
| Operating profit (loss) | 9901 | €2,603 | €1,945 | -€657 | -25.3% |
| Financial charges | 65/66B | €135 | -€202 | -€337 | |
| Recurring financial charges | 65 | €135 | -€202 | -€337 | |
| Profit (loss) for the period before taxes | 9903 | €2,468 | €2,147 | -€320 | -13.0% |
| Income taxes | 67/77 | - | €1,293 | +€1,293 | |
| Profit (loss) for the period | 9904 | €2,468 | €854 | -€1,614 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,468 | €854 | -€1,614 | -65.4% |
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 25 October 2026 via checked.be.