M.S. TOITURES: 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. TOITURES
Largest movements
- Receivables within one year -€208,895
down €208,895 (-71.4%), from €292,647 to €83,753
- Cash -€32,713
down €32,713 (-66.5%), from €49,212 to €16,499
mainly Contributions, distributions and other (-€182,927) and Other debts (-€75,000)
- Tangible fixed assets -€14,264
down €14,264 (-10.3%), from €138,969 to €124,705
of which Furniture and vehicles: -€10,740
- Profit (loss) carried forward -€170,891
down €170,891 (-96.4%), from €177,346 to €6,455
- Other debts -€75,000
no longer reported in 2025 (was €75,000)
- Accrued charges and deferred income -€18,849
no longer reported in 2025 (was €18,849)
- Debts after one year -€18,752
down €18,752 (-18.4%), from €101,754 to €83,002
- Tax, wage and social debts +€15,568
up €15,568 (+23.8%), from €65,339 to €80,907
of which Taxes: +€13,804
- Gross operating margin -€60,272
down €60,272 (-23.5%), from €256,981 to €196,709
- Staff costs +€36,405
up €36,405 (+42.1%), from €86,450 to €122,856
- Taxes -€31,276
down €31,276 (-69.2%), from €45,165 to €13,889
- Other operating charges -€17,793
down €17,793 (-79.0%), from €22,520 to €4,726
- Depreciation +€9,292
up €9,292 (+34.5%), from €26,927 to €36,219
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,835 | €229,105 | -€258,730 | -53.0% |
| Fixed assets | 21/28 | €138,969 | €124,705 | -€14,264 | -10.3% |
| Tangible fixed assets | 22/27 | €138,969 | €124,705 | -€14,264 | -10.3% |
| Land and buildings | 22 | €11,195 | €8,754 | -€2,441 | -21.8% |
| Plant, machinery and equipment | 23 | €1,640 | €837 | -€803 | -49.0% |
| Furniture and vehicles | 24 | €125,018 | €114,279 | -€10,740 | -8.6% |
| Other tangible fixed assets | 26 | €1,116 | €835 | -€281 | -25.2% |
| Current assets | 29/58 | €348,865 | €104,400 | -€244,465 | -70.1% |
| Amounts receivable within one year | 40/41 | €292,647 | €83,753 | -€208,895 | -71.4% |
| Other amounts receivable | 41 | €292,647 | €83,753 | -€208,895 | -71.4% |
| Cash at bank and in hand | 54/58 | €49,212 | €16,499 | -€32,713 | -66.5% |
| Deferred charges and accrued income | 490/1 | €7,006 | €4,149 | -€2,858 | -40.8% |
| Total equity and liabilities | 10/49 | €487,835 | €229,105 | -€258,730 | -53.0% |
| Equity | 10/15 | €197,806 | €26,915 | -€170,891 | -86.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,346 | €6,455 | -€170,891 | -96.4% |
| Amounts payable | 17/49 | €290,029 | €202,190 | -€87,839 | -30.3% |
| Amounts payable after more than one year | 17 | €101,754 | €83,002 | -€18,752 | -18.4% |
| Financial debts | 170/4 | €101,754 | €83,002 | -€18,752 | -18.4% |
| Amounts payable within one year | 42/48 | €169,425 | €119,188 | -€50,237 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €27,036 | €30,904 | +€3,868 | +14.3% |
| Trade debts | 44 | €2,050 | €7,377 | +€5,327 | +260% |
| Suppliers | 440/4 | €2,050 | €7,377 | +€5,327 | +260% |
| Taxes, remuneration and social security | 45 | €65,339 | €80,907 | +€15,568 | +23.8% |
| Taxes | 450/3 | €65,339 | €79,143 | +€13,804 | +21.1% |
| Remuneration and social security | 454/9 | - | €1,764 | +€1,764 | |
| Other amounts payable | 47/48 | €75,000 | - | -€75,000 | |
| Accrued charges and deferred income | 492/3 | €18,849 | - | -€18,849 | |
| Remuneration, social security and pensions | 62 | €86,450 | €122,856 | +€36,405 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,927 | €36,219 | +€9,292 | +34.5% |
| Other operating charges | 640/8 | €22,520 | €4,726 | -€17,793 | -79.0% |
| Gross operating margin | 9900 | €256,981 | €196,709 | -€60,272 | -23.5% |
| Operating profit (loss) | 9901 | €121,084 | €32,908 | -€88,176 | -72.8% |
| Financial income | 75/76B | €286 | €365 | +€80 | +27.9% |
| Recurring financial income | 75 | €286 | €365 | +€80 | +27.9% |
| Financial charges | 65/66B | €5,882 | €7,349 | +€1,466 | +24.9% |
| Recurring financial charges | 65 | €5,882 | €7,349 | +€1,466 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €115,488 | €25,925 | -€89,563 | -77.6% |
| Income taxes | 67/77 | €45,165 | €13,889 | -€31,276 | -69.2% |
| Profit (loss) for the period | 9904 | €70,322 | €12,036 | -€58,287 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,322 | €12,036 | -€58,287 | -82.9% |
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 26 October 2026 via checked.be.