MID-MSI: 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.
MID-MSI
Largest movements
- Cash +€26,307
up €26,307 (+20.0%), from €131,797 to €158,105
mainly Depreciation (+€50,071) and Net result for the year (+€46,652)
- Tangible fixed assets +€10,111
up €10,111 (+10.0%), from €101,122 to €111,232
of which Furniture and vehicles: +€41,255
- Receivables within one year +€3,524
up €3,524 (+13.6%), from €25,973 to €29,497
of which Other amounts receivable: +€1,868
- Reserves +€35,694
up €35,694 (+15.7%), from €227,400 to €263,094
- Tax, wage and social debts +€5,785
up €5,785 (+27.9%), from €20,725 to €26,509
- Depreciation +€11,180
up €11,180 (+28.7%), from €38,891 to €50,071
- Taxes -€3,066
down €3,066 (-13.4%), from €22,817 to €19,751
- Gross operating margin +€2,432
up €2,432 (+2.1%), from €115,167 to €117,598
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 | €265,539 | €304,450 | +€38,910 | +14.7% |
| Fixed assets | 21/28 | €101,122 | €111,232 | +€10,111 | +10.0% |
| Tangible fixed assets | 22/27 | €101,122 | €111,232 | +€10,111 | +10.0% |
| Land and buildings | 22 | €2,348 | €2,197 | -€152 | -6.5% |
| Furniture and vehicles | 24 | €11,923 | €53,179 | +€41,255 | +346% |
| Leasing and similar rights | 25 | €44,000 | €26,400 | -€17,600 | -40.0% |
| Other tangible fixed assets | 26 | €42,850 | €29,457 | -€13,393 | -31.3% |
| Current assets | 29/58 | €164,418 | €193,217 | +€28,799 | +17.5% |
| Amounts receivable within one year | 40/41 | €25,973 | €29,497 | +€3,524 | +13.6% |
| Trade receivables | 40 | €25,973 | €27,629 | +€1,655 | +6.4% |
| Other amounts receivable | 41 | €0 | €1,868 | +€1,868 | |
| Cash at bank and in hand | 54/58 | €131,797 | €158,105 | +€26,307 | +20.0% |
| Deferred charges and accrued income | 490/1 | €6,647 | €5,615 | -€1,032 | -15.5% |
| Total equity and liabilities | 10/49 | €265,539 | €304,450 | +€38,910 | +14.7% |
| Equity | 10/15 | €239,800 | €275,494 | +€35,694 | +14.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €227,400 | €263,094 | +€35,694 | +15.7% |
| Distributable reserves | 133 | €227,400 | €263,094 | +€35,694 | +15.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,739 | €28,955 | +€3,216 | +12.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,739 | €28,955 | +€3,216 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €1,905 | €0 | -€1,905 | -100% |
| Trade debts | 44 | €2,402 | €2,196 | -€206 | -8.6% |
| Suppliers | 440/4 | €2,402 | €2,196 | -€206 | -8.6% |
| Taxes, remuneration and social security | 45 | €20,725 | €26,509 | +€5,785 | +27.9% |
| Taxes | 450/3 | €20,725 | €26,509 | +€5,785 | +27.9% |
| Other amounts payable | 47/48 | €708 | €250 | -€458 | -64.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,891 | €50,071 | +€11,180 | +28.7% |
| Other operating charges | 640/8 | €1,584 | €1,623 | +€39 | +2.4% |
| Non-recurring operating charges | 66A | €1,040 | €0 | -€1,040 | -100% |
| Gross operating margin | 9900 | €115,167 | €117,598 | +€2,432 | +2.1% |
| Operating profit (loss) | 9901 | €73,652 | €65,905 | -€7,746 | -10.5% |
| Financial income | 75/76B | €1,279 | €864 | -€415 | -32.4% |
| Recurring financial income | 75 | €1,279 | €864 | -€415 | -32.4% |
| Financial charges | 65/66B | €613 | €366 | -€247 | -40.3% |
| Recurring financial charges | 65 | €613 | €366 | -€247 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €74,318 | €66,403 | -€7,915 | -10.6% |
| Income taxes | 67/77 | €22,817 | €19,751 | -€3,066 | -13.4% |
| Profit (loss) for the period | 9904 | €51,501 | €46,652 | -€4,848 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,501 | €46,652 | -€4,848 | -9.4% |
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 28 October 2026 via checked.be.