M & S DESIGN: what changed
Two fiscal 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 DESIGN
Largest movements
- Receivables within one year +€9,401
up €9,401 (+15.5%), from €60,678 to €70,079
of which Trade receivables: +€9,426
- Tangible fixed assets -€2,723
down €2,723 (-72.9%), from €3,735 to €1,012
of which Leasing and similar rights: -€2,170
- Profit (loss) carried forward +€22,388
up €22,388 (+36.1%), from -€61,973 to -€39,585
- Current portion of long-term debt -€10,375
no longer reported in 2025 (was €10,375)
- Other debts -€4,369
down €4,369 (-8.1%), from €54,151 to €49,782
- Trade debts -€1,210
down €1,210 (-2.3%), from €51,545 to €50,335
- Tax, wage and social debts +€988
up €988 (+45.8%), from €2,157 to €3,145
- Gross operating margin +€14,609
up €14,609 (+118.1%), from €12,375 to €26,984
- Depreciation -€5,927
down €5,927 (-91.5%), from €6,480 to €553
- Financial charges +€407
up €407 (+34.8%), from €1,168 to €1,575
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.
Cash bridge derived
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 | €71,315 | €78,737 | +€7,422 | +10.4% |
| Fixed assets | 21/28 | €3,735 | €1,012 | -€2,723 | -72.9% |
| Tangible fixed assets | 22/27 | €3,735 | €1,012 | -€2,723 | -72.9% |
| Plant, machinery and equipment | 23 | €1,565 | €1,012 | -€553 | -35.3% |
| Leasing and similar rights | 25 | €2,170 | - | -€2,170 | |
| Current assets | 29/58 | €67,580 | €77,725 | +€10,145 | +15.0% |
| Amounts receivable within one year | 40/41 | €60,678 | €70,079 | +€9,401 | +15.5% |
| Trade receivables | 40 | €60,643 | €70,069 | +€9,426 | +15.5% |
| Other amounts receivable | 41 | €35 | €10 | -€25 | -71.4% |
| Cash at bank and in hand | 54/58 | €6,735 | €7,474 | +€739 | +11.0% |
| Deferred charges and accrued income | 490/1 | €167 | €172 | +€5 | +3.0% |
| Total equity and liabilities | 10/49 | €71,315 | €78,737 | +€7,422 | +10.4% |
| Equity | 10/15 | -€46,913 | -€24,525 | +€22,388 | +47.7% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,973 | -€39,585 | +€22,388 | +36.1% |
| Amounts payable | 17/49 | €118,228 | €103,262 | -€14,966 | -12.7% |
| Amounts payable within one year | 42/48 | €118,228 | €103,262 | -€14,966 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €10,375 | - | -€10,375 | |
| Trade debts | 44 | €51,545 | €50,335 | -€1,210 | -2.3% |
| Suppliers | 440/4 | €51,545 | €50,335 | -€1,210 | -2.3% |
| Taxes, remuneration and social security | 45 | €2,157 | €3,145 | +€988 | +45.8% |
| Taxes | 450/3 | €2,157 | €3,145 | +€988 | +45.8% |
| Other amounts payable | 47/48 | €54,151 | €49,782 | -€4,369 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,480 | €553 | -€5,927 | -91.5% |
| Other operating charges | 640/8 | €645 | €439 | -€206 | -31.9% |
| Non-recurring operating charges | 66A | - | €1,853 | +€1,853 | |
| Gross operating margin | 9900 | €12,375 | €26,984 | +€14,609 | +118.1% |
| Operating profit (loss) | 9901 | €5,250 | €24,139 | +€18,889 | +359.8% |
| Financial charges | 65/66B | €1,168 | €1,575 | +€407 | +34.8% |
| Recurring financial charges | 65 | €1,168 | €1,575 | +€407 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €4,082 | €22,564 | +€18,482 | +452.8% |
| Income taxes | 67/77 | €179 | €175 | -€4 | -2.2% |
| Profit (loss) for the period | 9904 | €3,903 | €22,389 | +€18,486 | +473.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,903 | €22,389 | +€18,486 | +473.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.