M-SYS Marketing System: 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-SYS Marketing System
Largest movements
- Cash +€19,534
up €19,534 (+54.7%), from €35,710 to €55,244
mainly Net result for the year (+€22,006) and Tax, wage and social debts (+€5,058)
- Receivables within one year +€5,095
up €5,095 (+18.3%), from €27,882 to €32,977
of which Trade receivables: +€4,346
- Profit (loss) carried forward +€19,505
up €19,505 (+411%), from €4,744 to €24,249
- Tax, wage and social debts +€5,058
up €5,058 (+38.4%), from €13,178 to €18,236
of which Remuneration and social security: +€3,900
- Gross operating margin +€21,771
up €21,771 (+325%), from €6,697 to €28,468
- Taxes +€3,036
up €3,036 (+112%), from €2,713 to €5,748
- Financial income -€1,532
down €1,532 (-100%), from €1,532 to €0
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 | €479,326 | €505,201 | +€25,874 | +5.4% |
| Fixed assets | 21/28 | €415,734 | €416,979 | +€1,245 | +0.3% |
| Tangible fixed assets | 22/27 | - | €1,245 | +€1,245 | |
| Furniture and vehicles | 24 | - | €1,245 | +€1,245 | |
| Financial fixed assets | 28 | €415,734 | €415,734 | = | 0.0% |
| Current assets | 29/58 | €63,592 | €88,221 | +€24,629 | +38.7% |
| Amounts receivable within one year | 40/41 | €27,882 | €32,977 | +€5,095 | +18.3% |
| Trade receivables | 40 | €0 | €4,346 | +€4,346 | |
| Other amounts receivable | 41 | €27,882 | €28,631 | +€749 | +2.7% |
| Cash at bank and in hand | 54/58 | €35,710 | €55,244 | +€19,534 | +54.7% |
| Total equity and liabilities | 10/49 | €479,326 | €505,201 | +€25,874 | +5.4% |
| Equity | 10/15 | €462,200 | €481,705 | +€19,505 | +4.2% |
| Contributions | 10/11 | €283,500 | €283,500 | = | 0.0% |
| Reserves | 13 | €173,956 | €173,956 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,678 | €0 | -€8,678 | -100% |
| Reserves not available under the articles | 1311 | €8,678 | €0 | -€8,678 | -100% |
| Tax-exempt reserves | 132 | €13,402 | €13,402 | = | 0.0% |
| Distributable reserves | 133 | €151,875 | €160,554 | +€8,678 | +5.7% |
| Profit (loss) carried forward | 14 | €4,744 | €24,249 | +€19,505 | +411% |
| Amounts payable | 17/49 | €17,126 | €23,496 | +€6,369 | +37.2% |
| Amounts payable within one year | 42/48 | €17,126 | €23,496 | +€6,369 | +37.2% |
| Trade debts | 44 | €3,949 | €2,760 | -€1,189 | -30.1% |
| Suppliers | 440/4 | €3,949 | €2,760 | -€1,189 | -30.1% |
| Taxes, remuneration and social security | 45 | €13,178 | €18,236 | +€5,058 | +38.4% |
| Taxes | 450/3 | €13,178 | €14,336 | +€1,158 | +8.8% |
| Remuneration and social security | 454/9 | - | €3,900 | +€3,900 | |
| Other amounts payable | 47/48 | - | €2,500 | +€2,500 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €134 | +€134 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €6,697 | €28,468 | +€21,771 | +325% |
| Operating profit (loss) | 9901 | €6,310 | €27,934 | +€21,624 | +343% |
| Financial income | 75/76B | €1,532 | €0 | -€1,532 | -100% |
| Recurring financial income | 75 | €1,532 | €0 | -€1,532 | -100% |
| Financial charges | 65/66B | €385 | €180 | -€205 | -53.2% |
| Recurring financial charges | 65 | €385 | €180 | -€205 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €7,457 | €27,754 | +€20,297 | +272% |
| Income taxes | 67/77 | €2,713 | €5,748 | +€3,036 | +112% |
| Profit (loss) for the period | 9904 | €4,744 | €22,006 | +€17,262 | +364% |
| Profit (loss) for the period to be appropriated | 9905 | €4,744 | €22,006 | +€17,262 | +364% |
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 23 October 2026 via checked.be.