MESSI: 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.
MESSI
Largest movements
- Cash +€528,741
up €528,741 (+351%), from €150,552 to €679,294
mainly Net result for the year (+€644,561) and Receivables within one year (+€129,863)
- Current investments +€500,000
up €500,000 (+100%), from €500,000 to €1.0m
- Receivables within one year -€129,863
down €129,863 (-23.0%), from €563,518 to €433,655
of which Other amounts receivable: -€129,588
- Reserves +€644,561
up €644,561 (+100%), from €643,831 to €1.3m
of which Distributable reserves: +€644,561
- Tax, wage and social debts +€126,013
up €126,013 (+89,753%), from €140 to €126,154
- Gross operating margin +€877,334
up €877,334 (+3,947%), from €22,228 to €899,562
- Taxes +€127,762
up €127,762 (+75,376%), from €170 to €127,932
- Financial income -€9,362
down €9,362 (-10.3%), from €91,128 to €81,767
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 | €6,821,476 | €7,654,953 | +€833,476 | +12.2% |
| Fixed assets | 21/28 | €5,606,021 | €5,540,206 | -€65,815 | -1.2% |
| Tangible fixed assets | 22/27 | €438,484 | €372,668 | -€65,815 | -15.0% |
| Land and buildings | 22 | €426,354 | €364,470 | -€61,884 | -14.5% |
| Plant, machinery and equipment | 23 | €12,129 | €8,198 | -€3,931 | -32.4% |
| Financial fixed assets | 28 | €5,167,537 | €5,167,537 | = | 0.0% |
| Current assets | 29/58 | €1,215,455 | €2,114,747 | +€899,292 | +74.0% |
| Amounts receivable within one year | 40/41 | €563,518 | €433,655 | -€129,863 | -23.0% |
| Trade receivables | 40 | €275 | €0 | -€275 | -100% |
| Other amounts receivable | 41 | €563,243 | €433,655 | -€129,588 | -23.0% |
| Current investments | 50/53 | €500,000 | €1,000,000 | +€500,000 | +100% |
| Cash at bank and in hand | 54/58 | €150,552 | €679,294 | +€528,741 | +351% |
| Deferred charges and accrued income | 490/1 | €1,385 | €1,799 | +€414 | +29.9% |
| Total equity and liabilities | 10/49 | €6,821,476 | €7,654,953 | +€833,476 | +12.2% |
| Equity | 10/15 | €2,931,181 | €3,575,742 | +€644,561 | +22.0% |
| Contributions | 10/11 | €1,247,608 | €1,247,608 | = | 0.0% |
| Reserves | 13 | €643,831 | €1,288,392 | +€644,561 | +100% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,180 | €28,180 | = | 0.0% |
| Distributable reserves | 133 | €515,651 | €1,160,212 | +€644,561 | +125% |
| Profit (loss) carried forward | 14 | €1,039,742 | €1,039,742 | = | 0.0% |
| Provisions and deferred taxes | 16 | €3,333 | €3,333 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,333 | €3,333 | = | 0.0% |
| Major repairs and maintenance | 162 | €3,333 | €3,333 | = | 0.0% |
| Amounts payable | 17/49 | €3,886,962 | €4,075,877 | +€188,915 | +4.9% |
| Amounts payable after more than one year | 17 | €2,600,000 | €2,600,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,600,000 | €2,600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,121,573 | €1,314,612 | +€193,039 | +17.2% |
| Trade debts | 44 | €64 | €1,623 | +€1,559 | +2,428% |
| Suppliers | 440/4 | €64 | €1,623 | +€1,559 | +2,428% |
| Taxes, remuneration and social security | 45 | €140 | €126,154 | +€126,013 | +89,753% |
| Taxes | 450/3 | €140 | €126,154 | +€126,013 | +89,753% |
| Other amounts payable | 47/48 | €1,121,368 | €1,186,836 | +€65,467 | +5.8% |
| Accrued charges and deferred income | 492/3 | €165,389 | €161,265 | -€4,124 | -2.5% |
| Non-recurring operating income | 76A | - | €906,263 | +€906,263 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,519 | €45,291 | -€1,228 | -2.6% |
| Other operating charges | 640/8 | €1,768 | €2,056 | +€288 | +16.3% |
| Gross operating margin | 9900 | €22,228 | €899,562 | +€877,334 | +3,947% |
| Operating profit (loss) | 9901 | -€26,058 | €852,215 | +€878,274 | |
| Financial income | 75/76B | €91,128 | €81,767 | -€9,362 | -10.3% |
| Recurring financial income | 75 | €91,128 | €81,767 | -€9,362 | -10.3% |
| Financial charges | 65/66B | €165,660 | €161,489 | -€4,171 | -2.5% |
| Recurring financial charges | 65 | €165,660 | €161,489 | -€4,171 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | -€100,590 | €772,493 | +€873,083 | |
| Income taxes | 67/77 | €170 | €127,932 | +€127,762 | +75,376% |
| Profit (loss) for the period | 9904 | -€100,759 | €644,561 | +€745,320 | |
| Profit (loss) for the period to be appropriated | 9905 | -€100,759 | €644,561 | +€745,320 |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.