MS: 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.
MS
Largest movements
- Receivables within one year +€20,564
up €20,564 (+31.3%), from €65,775 to €86,339
- Tangible fixed assets +€9,430
new in 2024: €9,430
of which Furniture and vehicles: +€8,730
- Intangible fixed assets -€6,000
down €6,000 (-10.9%), from €55,000 to €49,000
- Cash +€4,424
up €4,424 (+117%), from €3,781 to €8,206
mainly Net result for the year (+€26,531) and Depreciation (+€7,013)
- Reserves +€26,531
up €26,531 (+41.4%), from €64,120 to €90,651
- Trade debts +€2,557
up €2,557 (+4.0%), from €63,967 to €66,523
- Gross operating margin -€40,165
down €40,165 (-58.0%), from €69,284 to €29,119
- Financial income +€4,425
new in 2024: €4,425
- Depreciation +€2,013
up €2,013 (+40.3%), from €5,000 to €7,013
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,087 | €167,175 | +€29,088 | +21.1% |
| Fixed assets | 21/28 | €55,000 | €58,430 | +€3,430 | +6.2% |
| Intangible fixed assets | 21 | €55,000 | €49,000 | -€6,000 | -10.9% |
| Tangible fixed assets | 22/27 | - | €9,430 | +€9,430 | |
| Plant, machinery and equipment | 23 | - | €700 | +€700 | |
| Furniture and vehicles | 24 | - | €8,730 | +€8,730 | |
| Current assets | 29/58 | €83,087 | €108,745 | +€25,658 | +30.9% |
| Stocks and contracts in progress | 3 | €13,530 | €14,200 | +€670 | +5.0% |
| Stocks | 30/36 | €13,530 | €14,200 | +€670 | +5.0% |
| Amounts receivable within one year | 40/41 | €65,775 | €86,339 | +€20,564 | +31.3% |
| Other amounts receivable | 41 | €65,775 | €86,339 | +€20,564 | +31.3% |
| Cash at bank and in hand | 54/58 | €3,781 | €8,206 | +€4,424 | +117% |
| Total equity and liabilities | 10/49 | €138,087 | €167,175 | +€29,088 | +21.1% |
| Equity | 10/15 | €74,120 | €100,651 | +€26,531 | +35.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €64,120 | €90,651 | +€26,531 | +41.4% |
| Distributable reserves | 133 | €64,120 | €90,651 | +€26,531 | +41.4% |
| Amounts payable | 17/49 | €63,967 | €66,523 | +€2,557 | +4.0% |
| Amounts payable within one year | 42/48 | €63,967 | €66,523 | +€2,557 | +4.0% |
| Trade debts | 44 | €63,967 | €66,523 | +€2,557 | +4.0% |
| Suppliers | 440/4 | €63,967 | €66,523 | +€2,557 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,000 | €7,013 | +€2,013 | +40.3% |
| Gross operating margin | 9900 | €69,284 | €29,119 | -€40,165 | -58.0% |
| Operating profit (loss) | 9901 | €64,284 | €22,106 | -€42,177 | -65.6% |
| Financial income | 75/76B | - | €4,425 | +€4,425 | |
| Recurring financial income | 75 | - | €4,425 | +€4,425 | |
| Financial charges | 65/66B | €163 | - | -€163 | |
| Recurring financial charges | 65 | €163 | - | -€163 | |
| Profit (loss) for the period before taxes | 9903 | €64,120 | €26,531 | -€37,589 | -58.6% |
| Profit (loss) for the period | 9904 | €64,120 | €26,531 | -€37,589 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,120 | €26,531 | -€37,589 | -58.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.