MS ADVICE: 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.
MS ADVICE
Largest movements
- Cash -€21,113
down €21,113 (-98.9%), from €21,346 to €232
mainly Net result for the year (-€47,402) and Current portion of long-term debt (-€1,849)
- Tangible fixed assets -€17,795
down €17,795 (-8.0%), from €222,488 to €204,693
of which Furniture and vehicles: -€12,100
- Profit (loss) carried forward -€47,402
down €47,402 (-60.1%), from -€78,808 to -€126,210
- Trade debts +€9,309
up €9,309 (+48.2%), from €19,303 to €28,612
- Short-term financial debts +€3,568
new in 2025: €3,568
- Gross operating margin -€54,020
down €54,020, from €32,939 to -€21,080
- Financial income -€9,632
no longer reported in 2025 (was €9,632)
of which Financial income: -€9,632
- Depreciation -€7,972
down €7,972 (-30.9%), from €25,766 to €17,795
- Other operating charges +€1,098
up €1,098 (+17.3%), from €6,354 to €7,452
- Taxes -€350
down €350 (-80.9%), from €433 to €83
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 | €246,650 | €208,567 | -€38,083 | -15.4% |
| Fixed assets | 21/28 | €222,735 | €204,941 | -€17,795 | -8.0% |
| Tangible fixed assets | 22/27 | €222,488 | €204,693 | -€17,795 | -8.0% |
| Land and buildings | 22 | €121,160 | €121,160 | = | 0.0% |
| Plant, machinery and equipment | 23 | €66,747 | €61,052 | -€5,695 | -8.5% |
| Furniture and vehicles | 24 | €34,581 | €22,481 | -€12,100 | -35.0% |
| Financial fixed assets | 28 | €247 | €247 | = | 0.0% |
| Current assets | 29/58 | €23,914 | €3,626 | -€20,288 | -84.8% |
| Amounts receivable within one year | 40/41 | - | €968 | +€968 | |
| Trade receivables | 40 | - | €968 | +€968 | |
| Cash at bank and in hand | 54/58 | €21,346 | €232 | -€21,113 | -98.9% |
| Deferred charges and accrued income | 490/1 | €2,569 | €2,426 | -€143 | -5.6% |
| Total equity and liabilities | 10/49 | €246,650 | €208,567 | -€38,083 | -15.4% |
| Equity | 10/15 | €219,305 | €171,904 | -€47,402 | -21.6% |
| Contributions | 10/11 | €270,204 | €270,204 | = | 0.0% |
| Capital | 10 | €270,204 | €270,204 | = | 0.0% |
| Issued capital | 100 | €270,204 | €270,204 | = | 0.0% |
| Reserves | 13 | €27,909 | €27,909 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,020 | €27,020 | = | 0.0% |
| Legal reserve | 130 | €27,020 | €27,020 | = | 0.0% |
| Distributable reserves | 133 | €889 | €889 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,808 | -€126,210 | -€47,402 | -60.1% |
| Amounts payable | 17/49 | €27,345 | €36,663 | +€9,318 | +34.1% |
| Amounts payable within one year | 42/48 | €27,345 | €36,663 | +€9,318 | +34.1% |
| Current portion of amounts payable after more than one year | 42 | €1,849 | - | -€1,849 | |
| Financial debts | 43 | - | €3,568 | +€3,568 | |
| Credit institutions | 430/8 | - | €3,568 | +€3,568 | |
| Trade debts | 44 | €19,303 | €28,612 | +€9,309 | +48.2% |
| Suppliers | 440/4 | €19,303 | €28,612 | +€9,309 | +48.2% |
| Taxes, remuneration and social security | 45 | €433 | €83 | -€350 | -80.9% |
| Taxes | 450/3 | €433 | €83 | -€350 | -80.9% |
| Other amounts payable | 47/48 | €5,761 | €4,400 | -€1,360 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,766 | €17,795 | -€7,972 | -30.9% |
| Other operating charges | 640/8 | €6,354 | €7,452 | +€1,098 | +17.3% |
| Gross operating margin | 9900 | €32,939 | -€21,080 | -€54,020 | |
| Operating profit (loss) | 9901 | €819 | -€46,327 | -€47,146 | |
| Financial income | 75/76B | €9,632 | - | -€9,632 | |
| Recurring financial income | 75 | €9,632 | - | -€9,632 | |
| Non-recurring financial income | 76B | €9,632 | - | -€9,632 | |
| Financial charges | 65/66B | €1,159 | €992 | -€167 | -14.4% |
| Recurring financial charges | 65 | €1,159 | €992 | -€167 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €9,292 | -€47,319 | -€56,611 | |
| Income taxes | 67/77 | €433 | €83 | -€350 | -80.9% |
| Profit (loss) for the period | 9904 | €8,859 | -€47,402 | -€56,261 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,859 | -€47,402 | -€56,261 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.