M.S.G. STORE: 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.G. STORE
Largest movements
- Intangible fixed assets -€27,536
no longer reported in 2025 (was €27,536)
- Receivables within one year +€19,405
up €19,405 (+6468290.0%), from €0 to €19,405
of which Trade receivables: +€19,405
- Profit (loss) carried forward -€13,269
down €13,269 (-22.5%), from €58,845 to €45,576
- Other debts +€5,467
up €5,467 (+138.7%), from €3,942 to €9,409
- Trade debts -€2,192
down €2,192 (-54.8%), from €4,003 to €1,811
- Tax, wage and social debts +€1,610
up €1,610 (+20.3%), from €7,922 to €9,532
of which Taxes: +€1,610
- Gross operating margin -€47,721
down €47,721 (-77.0%), from €61,957 to €14,235
- Staff costs -€15,722
no longer reported in 2025 (was €15,722)
- Depreciation -€3,133
no longer reported in 2025 (was €3,133)
- Taxes +€2,315
new in 2025: €2,315
- Other operating charges -€1,210
down €1,210 (-79.8%), from €1,517 to €307
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,333 | €71,930 | -€8,403 | -10.5% |
| Fixed assets | 21/28 | €27,536 | - | -€27,536 | |
| Intangible fixed assets | 21 | €27,536 | - | -€27,536 | |
| Current assets | 29/58 | €52,797 | €71,930 | +€19,133 | +36.2% |
| Amounts receivable within one year | 40/41 | €0 | €19,405 | +€19,405 | +6468290.0% |
| Trade receivables | 40 | - | €19,405 | +€19,405 | |
| Other amounts receivable | 41 | €0 | €0 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €52,797 | €52,525 | -€272 | -0.5% |
| Total equity and liabilities | 10/49 | €80,333 | €71,930 | -€8,403 | -10.5% |
| Equity | 10/15 | €63,845 | €50,576 | -€13,269 | -20.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,845 | €45,576 | -€13,269 | -22.5% |
| Amounts payable | 17/49 | €16,487 | €21,354 | +€4,866 | +29.5% |
| Amounts payable within one year | 42/48 | €16,487 | €21,354 | +€4,866 | +29.5% |
| Financial debts | 43 | €621 | €602 | -€19 | -3.0% |
| Credit institutions | 430/8 | €621 | €602 | -€19 | -3.0% |
| Trade debts | 44 | €4,003 | €1,811 | -€2,192 | -54.8% |
| Suppliers | 440/4 | €4,003 | €1,811 | -€2,192 | -54.8% |
| Taxes, remuneration and social security | 45 | €7,922 | €9,532 | +€1,610 | +20.3% |
| Taxes | 450/3 | €5,259 | €6,869 | +€1,610 | +30.6% |
| Remuneration and social security | 454/9 | €2,662 | €2,662 | = | 0.0% |
| Other amounts payable | 47/48 | €3,942 | €9,409 | +€5,467 | +138.7% |
| Remuneration, social security and pensions | 62 | €15,722 | - | -€15,722 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,133 | - | -€3,133 | |
| Other operating charges | 640/8 | €1,517 | €307 | -€1,210 | -79.8% |
| Non-recurring operating charges | 66A | - | €24,536 | +€24,536 | |
| Gross operating margin | 9900 | €61,957 | €14,235 | -€47,721 | -77.0% |
| Operating profit (loss) | 9901 | €41,584 | -€10,607 | -€52,191 | |
| Financial charges | 65/66B | €634 | €348 | -€287 | -45.2% |
| Recurring financial charges | 65 | €634 | €348 | -€287 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €40,950 | -€10,955 | -€51,905 | |
| Income taxes | 67/77 | - | €2,315 | +€2,315 | |
| Profit (loss) for the period | 9904 | €40,950 | -€13,269 | -€54,220 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,950 | -€13,269 | -€54,220 |
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 8 October 2026 via checked.be.