MS BETON: 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 BETON
Largest movements
- Receivables within one year -€15,687
down €15,687 (-10.3%), from €151,754 to €136,066
of which Other amounts receivable: -€20,032
- Cash -€10,948
down €10,948 (-12.5%), from €87,369 to €76,421
mainly Trade debts (-€46,797) and Stocks and contracts (-€4,372)
- Stocks and contracts +€4,372
new in 2025: €4,372
- Trade debts -€46,797
down €46,797 (-50.6%), from €92,495 to €45,698
- Reserves +€26,858
up €26,858 (+23.2%), from €115,636 to €142,495
- Tax, wage and social debts -€2,907
down €2,907 (-84.5%), from €3,441 to €534
- Gross operating margin -€2,842
down €2,842 (-6.4%), from €44,230 to €41,389
- Depreciation -€2,435
down €2,435 (-63.4%), from €3,842 to €1,407
- Other operating charges +€2,193
up €2,193 (+313%), from €700 to €2,893
- Financial income +€1,180
up €1,180 (+72.0%), from €1,639 to €2,820
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 | €242,521 | €219,669 | -€22,852 | -9.4% |
| Fixed assets | 21/28 | €1,528 | €120 | -€1,407 | -92.1% |
| Tangible fixed assets | 22/27 | €1,528 | €120 | -€1,407 | -92.1% |
| Plant, machinery and equipment | 23 | €1,528 | €120 | -€1,407 | -92.1% |
| Current assets | 29/58 | €240,993 | €219,549 | -€21,444 | -8.9% |
| Stocks and contracts in progress | 3 | - | €4,372 | +€4,372 | |
| Stocks | 30/36 | - | €4,372 | +€4,372 | |
| Amounts receivable within one year | 40/41 | €151,754 | €136,066 | -€15,687 | -10.3% |
| Trade receivables | 40 | €7,305 | €11,650 | +€4,345 | +59.5% |
| Other amounts receivable | 41 | €144,449 | €124,416 | -€20,032 | -13.9% |
| Cash at bank and in hand | 54/58 | €87,369 | €76,421 | -€10,948 | -12.5% |
| Deferred charges and accrued income | 490/1 | €1,871 | €2,691 | +€820 | +43.8% |
| Total equity and liabilities | 10/49 | €242,521 | €219,669 | -€22,852 | -9.4% |
| Equity | 10/15 | €146,579 | €173,437 | +€26,858 | +18.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €115,636 | €142,495 | +€26,858 | +23.2% |
| Distributable reserves | 133 | €115,636 | €142,495 | +€26,858 | +23.2% |
| Profit (loss) carried forward | 14 | €18,443 | €18,443 | = | 0.0% |
| Amounts payable | 17/49 | €95,942 | €46,232 | -€49,710 | -51.8% |
| Amounts payable within one year | 42/48 | €95,936 | €46,232 | -€49,704 | -51.8% |
| Trade debts | 44 | €92,495 | €45,698 | -€46,797 | -50.6% |
| Suppliers | 440/4 | €92,495 | €45,698 | -€46,797 | -50.6% |
| Taxes, remuneration and social security | 45 | €3,441 | €534 | -€2,907 | -84.5% |
| Taxes | 450/3 | €3,441 | €534 | -€2,907 | -84.5% |
| Accrued charges and deferred income | 492/3 | €6 | - | -€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,842 | €1,407 | -€2,435 | -63.4% |
| Other operating charges | 640/8 | €700 | €2,893 | +€2,193 | +313% |
| Gross operating margin | 9900 | €44,230 | €41,389 | -€2,842 | -6.4% |
| Operating profit (loss) | 9901 | €39,688 | €37,089 | -€2,599 | -6.5% |
| Financial income | 75/76B | €1,639 | €2,820 | +€1,180 | +72.0% |
| Recurring financial income | 75 | €1,639 | €2,820 | +€1,180 | +72.0% |
| Financial charges | 65/66B | €576 | €516 | -€60 | -10.4% |
| Recurring financial charges | 65 | €576 | €516 | -€60 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €40,751 | €39,392 | -€1,359 | -3.3% |
| Income taxes | 67/77 | €12,187 | €12,534 | +€347 | +2.8% |
| Profit (loss) for the period | 9904 | €28,564 | €26,858 | -€1,706 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,564 | €26,858 | -€1,706 | -6.0% |
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 30 October 2026 via checked.be.