M-SIC: 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-SIC
Largest movements
- Cash +€11,606
up €11,606 (+116.9%), from €9,927 to €21,533
mainly Net result for the year (+€9,032) and Tax, wage and social debts (+€3,201)
- Receivables within one year +€965
up €965 (+66.4%), from €1,452 to €2,417
- Reserves +€9,032
up €9,032 (+194.8%), from €4,637 to €13,669
- Tax, wage and social debts +€3,201
up €3,201 (+183.7%), from €1,742 to €4,943
- Trade debts +€338
new in 2025: €338
- Gross operating margin +€5,373
up €5,373 (+85.1%), from €6,313 to €11,686
- Taxes +€1,086
up €1,086 (+92.7%), from €1,172 to €2,258
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 | €11,379 | €23,950 | +€12,571 | +110.5% |
| Current assets | 29/58 | €11,379 | €23,950 | +€12,571 | +110.5% |
| Amounts receivable within one year | 40/41 | €1,452 | €2,417 | +€965 | +66.4% |
| Trade receivables | 40 | €1,452 | €2,417 | +€965 | +66.4% |
| Cash at bank and in hand | 54/58 | €9,927 | €21,533 | +€11,606 | +116.9% |
| Total equity and liabilities | 10/49 | €11,379 | €23,950 | +€12,571 | +110.5% |
| Equity | 10/15 | €9,637 | €18,669 | +€9,032 | +93.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,637 | €13,669 | +€9,032 | +194.8% |
| Distributable reserves | 133 | €4,637 | €13,669 | +€9,032 | +194.8% |
| Amounts payable | 17/49 | €1,742 | €5,281 | +€3,539 | +203.1% |
| Amounts payable within one year | 42/48 | €1,742 | €5,281 | +€3,539 | +203.1% |
| Trade debts | 44 | - | €338 | +€338 | |
| Suppliers | 440/4 | - | €338 | +€338 | |
| Taxes, remuneration and social security | 45 | €1,742 | €4,943 | +€3,201 | +183.7% |
| Taxes | 450/3 | €1,742 | €4,943 | +€3,201 | +183.7% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €6,313 | €11,686 | +€5,373 | +85.1% |
| Operating profit (loss) | 9901 | €6,187 | €11,558 | +€5,371 | +86.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €378 | €268 | -€109 | -28.9% |
| Recurring financial charges | 65 | €378 | €268 | -€109 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €5,809 | €11,290 | +€5,481 | +94.3% |
| Income taxes | 67/77 | €1,172 | €2,258 | +€1,086 | +92.7% |
| Profit (loss) for the period | 9904 | €4,637 | €9,032 | +€4,395 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,637 | €9,032 | +€4,395 | +94.8% |
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 2 October 2026 via checked.be.