M.S.D.: 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.
What changed
M.S.D.
NACE 46.861, Wholesale of diamonds and other precious stones
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€1.6m
2023 · -€807,795-€747,343
Equity
€22.5m
2023 · €24.0m-€1.6m
Cash
€956,723
2023 · €434,254+€522,469
Balance sheet total
€24.7m
2023 · €26.8m-€2.1m
Largest movements
Assets
- Receivables within one year -€2.0m
down €2.0m (-22.0%), from €9.0m to €7.0m
of which Trade receivables: -€1.5m
- Stocks and contracts -€1.3m
down €1.3m (-19.7%), from €6.7m to €5.3m
- Receivables after one year +€665,000
up €665,000 (+12.5%), from €5.3m to €6.0m
- Cash +€522,469
up €522,469 (+120%), from €434,254 to €956,723
mainly Receivables within one year (+€2.0m) and Stocks and contracts (+€1.3m)
Equity and liabilities
- Profit (loss) carried forward -€1.6m
down €1.6m (-11.4%), from €13.6m to €12.0m
- Trade debts -€332,602
down €332,602 (-49.4%), from €673,378 to €340,776
Income statement
- Turnover -€50.9m
down €50.9m (-94.7%), from €53.7m to €2.8m
- Goods and materials -€49.1m
down €49.1m (-92.4%), from €53.1m to €4.0m
From the 2023 result to the 2024 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.
Result 2023
-€807,795
Turnover
-€50.9m
Other operating income
-€3,730
Goods and materials
+€49.1m
Services and other goods
+€365,194
Staff costs
+€46,431
Depreciation
+€15,918
Other operating charges
-€4,580
Other operating items
+€96
Financial income
+€8,411
Financial charges
+€482,693
Taxes
+€149,398
Result 2024
-€1.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€648,668
Investment
-€39,250
Financing
-€86,949
Cash 2023
€434,254
From operations (derived)
+€648,668
Net result for the year
-€1.6m
Depreciation
+€81,192
Receivables after one year
-€665,000
Stocks and contracts
+€1.3m
Receivables within one year
+€2.0m
Deferred charges and accrued income
-€9,910
Smaller working-capital items
-€523
Trade debts
-€332,602
Tax, wage and social debts
-€157,604
Investment (derived)
-€39,250
Investment in fixed assets (net)
-€39,250
Financing
-€86,949
Debts after one year
-€79,501
Current portion of long-term debt
-€3,233
Short-term financial debts
-€4,215
Cash 2024
€956,723
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,813,733 | €24,680,917 | -€2.1m | -8.0% |
| Fixed assets | 21/28 | €3,019,236 | €2,977,294 | -€41,942 | -1.4% |
| Tangible fixed assets | 22/27 | €3,017,223 | €2,975,281 | -€41,942 | -1.4% |
| Land and buildings | 22 | €2,952,828 | €2,880,005 | -€72,823 | -2.5% |
| Plant, machinery and equipment | 23 | €20,946 | €17,684 | -€3,262 | -15.6% |
| Furniture and vehicles | 24 | €43,449 | €77,592 | +€34,143 | +78.6% |
| Financial fixed assets | 28 | €2,013 | €2,013 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,013 | €2,013 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,013 | €2,013 | = | 0.0% |
| Current assets | 29/58 | €23,794,497 | €21,703,623 | -€2.1m | -8.8% |
| Amounts receivable after more than one year | 29 | €5,300,000 | €5,965,000 | +€665,000 | +12.5% |
| Other amounts receivable | 291 | €5,300,000 | €5,965,000 | +€665,000 | +12.5% |
| Stocks and contracts in progress | 3 | €6,655,651 | €5,346,055 | -€1.3m | -19.7% |
| Stocks | 30/36 | €6,655,651 | €5,346,055 | -€1.3m | -19.7% |
| Raw materials and consumables | 30/31 | €6,655,651 | €5,346,055 | -€1.3m | -19.7% |
| Amounts receivable within one year | 40/41 | €8,988,081 | €7,009,424 | -€2.0m | -22.0% |
| Trade receivables | 40 | €8,309,922 | €6,804,729 | -€1.5m | -18.1% |
| Other amounts receivable | 41 | €678,159 | €204,695 | -€473,464 | -69.8% |
| Current investments | 50/53 | €2,410,308 | €2,410,308 | = | 0.0% |
| Own shares | 50 | €2,410,308 | €2,410,308 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €434,254 | €956,723 | +€522,469 | +120% |
| Deferred charges and accrued income | 490/1 | €6,203 | €16,113 | +€9,910 | +160% |
| Total equity and liabilities | 10/49 | €26,813,733 | €24,680,917 | -€2.1m | -8.0% |
| Equity | 10/15 | €24,029,003 | €22,473,865 | -€1.6m | -6.5% |
| Contributions | 10/11 | €6,296,868 | €6,296,868 | = | 0.0% |
| Capital | 10 | €6,296,868 | €6,296,868 | = | 0.0% |
| Issued capital | 100 | €6,296,868 | €6,296,868 | = | 0.0% |
| Reserves | 13 | €4,130,781 | €4,129,631 | -€1,150 | 0.0% |
| Non-distributable reserves | 130/1 | €3,039,995 | €3,039,995 | = | 0.0% |
| Legal reserve | 130 | €629,687 | €629,687 | = | 0.0% |
| Own shares acquired | 1312 | €2,410,308 | €2,410,308 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,873 | €19,723 | -€1,150 | -5.5% |
| Distributable reserves | 133 | €1,069,913 | €1,069,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,601,354 | €12,047,366 | -€1.6m | -11.4% |
| Provisions and deferred taxes | 16 | €6,935 | €6,544 | -€391 | -5.6% |
| Deferred taxes | 168 | €6,935 | €6,544 | -€391 | -5.6% |
| Amounts payable | 17/49 | €2,777,795 | €2,200,508 | -€577,287 | -20.8% |
| Amounts payable after more than one year | 17 | €418,277 | €338,776 | -€79,501 | -19.0% |
| Financial debts | 170/4 | €418,277 | €338,776 | -€79,501 | -19.0% |
| Credit institutions | 173 | €418,277 | €338,776 | -€79,501 | -19.0% |
| Amounts payable within one year | 42/48 | €2,357,308 | €1,859,654 | -€497,654 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €51,914 | €48,681 | -€3,233 | -6.2% |
| Financial debts | 43 | €4,215 | - | -€4,215 | |
| Credit institutions | 430/8 | €4,215 | - | -€4,215 | |
| Trade debts | 44 | €673,378 | €340,776 | -€332,602 | -49.4% |
| Suppliers | 440/4 | €673,378 | €340,776 | -€332,602 | -49.4% |
| Taxes, remuneration and social security | 45 | €200,284 | €42,680 | -€157,604 | -78.7% |
| Taxes | 450/3 | €190,866 | €37,778 | -€153,088 | -80.2% |
| Remuneration and social security | 454/9 | €9,418 | €4,902 | -€4,516 | -48.0% |
| Other amounts payable | 47/48 | €1,427,517 | €1,427,517 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,210 | €2,078 | -€132 | -6.0% |
| Operating income | 70/76A | €53,826,737 | €2,935,332 | -€50.9m | -94.5% |
| Turnover | 70 | €53,735,099 | €2,847,328 | -€50.9m | -94.7% |
| Other operating income | 74 | €91,355 | €87,625 | -€3,730 | -4.1% |
| Non-recurring operating income | 76A | €283 | €379 | +€96 | +33.9% |
| Operating charges | 60/66A | €54,033,703 | €4,530,143 | -€49.5m | -91.6% |
| Goods for resale, raw materials and consumables | 60 | €53,103,094 | €4,022,497 | -€49.1m | -92.4% |
| Change in stocks: decrease (increase) | 609 | €11,662,175 | €1,309,596 | -€10.4m | -88.8% |
| Services and other goods | 61 | €720,589 | €355,395 | -€365,194 | -50.7% |
| Remuneration, social security and pensions | 62 | €99,209 | €52,778 | -€46,431 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,110 | €81,192 | -€15,918 | -16.4% |
| Other operating charges | 640/8 | €13,701 | €18,281 | +€4,580 | +33.4% |
| Operating profit (loss) | 9901 | -€206,966 | -€1,594,811 | -€1.4m | -671% |
| Recurring financial income | 75 | €172,870 | €181,281 | +€8,411 | +4.9% |
| Income from current assets | 751 | €122,307 | €150,957 | +€28,650 | +23.4% |
| Other financial income | 752/9 | €50,563 | €30,324 | -€20,239 | -40.0% |
| Financial charges | 65/66B | €589,806 | €107,113 | -€482,693 | -81.8% |
| Recurring financial charges | 65 | €278,000 | €107,113 | -€170,887 | -61.5% |
| Debt charges | 650 | €134,313 | €29,458 | -€104,855 | -78.1% |
| Other financial charges | 652/9 | €143,687 | €77,655 | -€66,032 | -46.0% |
| Non-recurring financial charges | 66B | €311,806 | - | -€311,806 | |
| Profit (loss) for the period before taxes | 9903 | -€623,902 | -€1,520,643 | -€896,741 | -144% |
| Transfer from deferred taxes | 780 | €391 | €391 | = | 0.0% |
| Income taxes | 67/77 | €184,284 | €34,886 | -€149,398 | -81.1% |
| Taxes | 670/3 | €186,876 | €36,500 | -€150,376 | -80.5% |
| Tax adjustments and reversals of tax provisions | 77 | €2,592 | €1,614 | -€978 | -37.7% |
| Profit (loss) for the period | 9904 | -€807,795 | -€1,555,138 | -€747,343 | -92.5% |
| Transfer from tax-exempt reserves | 789 | €1,150 | €1,150 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€806,645 | -€1,553,988 | -€747,343 | -92.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.