M.S. FACADE: 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. FACADE
Largest movements
- Receivables after one year -€23,075
no longer reported in 2025 (was €23,075)
- Cash -€7,012
down €7,012 (-68.0%), from €10,314 to €3,301
mainly Trade debts (-€16,596) and Net result for the year (-€11,359)
- Deferred charges and accrued income -€2,057
down €2,057 (-69.0%), from €2,981 to €924
- Tangible fixed assets -€627
down €627 (-6.1%), from €10,352 to €9,724
of which Furniture and vehicles: -€1,222
- Trade debts -€16,596
down €16,596 (-86.5%), from €19,180 to €2,584
- Profit (loss) carried forward -€11,359
down €11,359 (-349%), from -€3,253 to -€14,612
- Reserves -€6,000
down €6,000 (-50.0%), from €12,000 to €6,000
- Tax, wage and social debts +€787
up €787 (+165%), from €478 to €1,265
- Gross operating margin -€4,449
down €4,449 (-1,019%), from -€436 to -€4,885
- Other operating charges -€1,163
down €1,163 (-61.7%), from €1,884 to €721
- Financial charges -€1,088
down €1,088 (-84.3%), from €1,290 to €202
- Depreciation -€1,058
down €1,058 (-21.7%), from €4,885 to €3,827
- Financial income -€190
down €190 (-26.4%), from €721 to €531
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 | €48,865 | €15,951 | -€32,914 | -67.4% |
| Fixed assets | 21/28 | €12,237 | €11,609 | -€627 | -5.1% |
| Tangible fixed assets | 22/27 | €10,352 | €9,724 | -€627 | -6.1% |
| Plant, machinery and equipment | 23 | €300 | €56 | -€244 | -81.3% |
| Furniture and vehicles | 24 | €1,858 | €636 | -€1,222 | -65.8% |
| Other tangible fixed assets | 26 | €8,194 | €9,032 | +€838 | +10.2% |
| Financial fixed assets | 28 | €1,885 | €1,885 | = | 0.0% |
| Current assets | 29/58 | €36,628 | €4,342 | -€32,286 | -88.1% |
| Amounts receivable after more than one year | 29 | €23,075 | - | -€23,075 | |
| Other amounts receivable | 291 | €23,075 | - | -€23,075 | |
| Amounts receivable within one year | 40/41 | €259 | €116 | -€142 | -55.0% |
| Trade receivables | 40 | €182 | €116 | -€66 | -36.1% |
| Other amounts receivable | 41 | €77 | - | -€77 | |
| Cash at bank and in hand | 54/58 | €10,314 | €3,301 | -€7,012 | -68.0% |
| Deferred charges and accrued income | 490/1 | €2,981 | €924 | -€2,057 | -69.0% |
| Total equity and liabilities | 10/49 | €48,865 | €15,951 | -€32,914 | -67.4% |
| Equity | 10/15 | €29,207 | €11,848 | -€17,359 | -59.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €12,000 | €6,000 | -€6,000 | -50.0% |
| Distributable reserves | 133 | €12,000 | €6,000 | -€6,000 | -50.0% |
| Profit (loss) carried forward | 14 | -€3,253 | -€14,612 | -€11,359 | -349% |
| Amounts payable | 17/49 | €19,658 | €4,103 | -€15,555 | -79.1% |
| Amounts payable within one year | 42/48 | €19,658 | €4,103 | -€15,555 | -79.1% |
| Trade debts | 44 | €19,180 | €2,584 | -€16,596 | -86.5% |
| Suppliers | 440/4 | €19,180 | €2,584 | -€16,596 | -86.5% |
| Taxes, remuneration and social security | 45 | €478 | €1,265 | +€787 | +165% |
| Taxes | 450/3 | €478 | €1,265 | +€787 | +165% |
| Other amounts payable | 47/48 | €0 | €254 | +€254 | +97,658% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,885 | €3,827 | -€1,058 | -21.7% |
| Other operating charges | 640/8 | €1,884 | €721 | -€1,163 | -61.7% |
| Non-recurring operating charges | 66A | €321 | €2,254 | +€1,933 | +603% |
| Gross operating margin | 9900 | -€436 | -€4,885 | -€4,449 | -1,019% |
| Operating profit (loss) | 9901 | -€7,527 | -€11,687 | -€4,161 | -55.3% |
| Financial income | 75/76B | €721 | €531 | -€190 | -26.4% |
| Recurring financial income | 75 | €721 | €531 | -€190 | -26.4% |
| Financial charges | 65/66B | €1,290 | €202 | -€1,088 | -84.3% |
| Recurring financial charges | 65 | €1,290 | €202 | -€1,088 | -84.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,096 | -€11,359 | -€3,263 | -40.3% |
| Income taxes | 67/77 | €40 | - | -€40 | |
| Profit (loss) for the period | 9904 | -€8,137 | -€11,359 | -€3,223 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,137 | -€11,359 | -€3,223 | -39.6% |
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 15 October 2026 via checked.be.