MS CONSTRUCT BENELUX: 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 CONSTRUCT BENELUX
Largest movements
- Cash +€56,543
up €56,543 (+342%), from €16,534 to €73,077
mainly Net result for the year (+€36,369) and Depreciation (+€29,880)
- Tangible fixed assets -€7,333
down €7,333 (-10.1%), from €72,387 to €65,054
of which Furniture and vehicles: -€6,935
- Receivables within one year -€4,164
down €4,164 (-2.1%), from €201,787 to €197,623
of which Trade receivables: -€52,151
- Reserves +€36,369
up €36,369 (+36.6%), from €99,418 to €135,787
- Trade debts -€34,444
down €34,444 (-31.4%), from €109,841 to €75,396
- Other debts +€26,228
up €26,228 (+229%), from €11,443 to €37,670
- Short-term financial debts +€23,636
new in 2024: €23,636
- Tax, wage and social debts -€12,057
down €12,057 (-58.4%), from €20,645 to €8,587
of which Taxes: -€16,818
- Gross operating margin +€71,529
up €71,529 (+86.2%), from €82,948 to €154,477
- Staff costs +€44,699
new in 2024: €44,699
- Write-downs -€14,250
no longer reported in 2024 (was €14,250)
- Other operating charges +€13,821
up €13,821 (+724%), from €1,908 to €15,729
- Depreciation +€7,614
up €7,614 (+34.2%), from €22,266 to €29,880
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 | €298,172 | €344,790 | +€46,618 | +15.6% |
| Fixed assets | 21/28 | €72,687 | €65,717 | -€6,970 | -9.6% |
| Tangible fixed assets | 22/27 | €72,387 | €65,054 | -€7,333 | -10.1% |
| Plant, machinery and equipment | 23 | €3,705 | €3,307 | -€398 | -10.7% |
| Furniture and vehicles | 24 | €68,682 | €61,748 | -€6,935 | -10.1% |
| Financial fixed assets | 28 | €300 | €663 | +€363 | +121% |
| Current assets | 29/58 | €225,485 | €279,072 | +€53,588 | +23.8% |
| Amounts receivable within one year | 40/41 | €201,787 | €197,623 | -€4,164 | -2.1% |
| Trade receivables | 40 | €183,985 | €131,834 | -€52,151 | -28.3% |
| Other amounts receivable | 41 | €17,802 | €65,790 | +€47,988 | +270% |
| Cash at bank and in hand | 54/58 | €16,534 | €73,077 | +€56,543 | +342% |
| Deferred charges and accrued income | 490/1 | €7,163 | €8,372 | +€1,208 | +16.9% |
| Total equity and liabilities | 10/49 | €298,172 | €344,790 | +€46,618 | +15.6% |
| Equity | 10/15 | €105,618 | €141,987 | +€36,369 | +34.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €99,418 | €135,787 | +€36,369 | +36.6% |
| Distributable reserves | 133 | €99,418 | €135,787 | +€36,369 | +36.6% |
| Amounts payable | 17/49 | €192,554 | €202,803 | +€10,249 | +5.3% |
| Amounts payable after more than one year | 17 | €30,372 | €33,649 | +€3,277 | +10.8% |
| Financial debts | 170/4 | €30,372 | €33,649 | +€3,277 | +10.8% |
| Amounts payable within one year | 42/48 | €162,182 | €169,154 | +€6,972 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €20,254 | €23,864 | +€3,610 | +17.8% |
| Financial debts | 43 | - | €23,636 | +€23,636 | |
| Credit institutions | 430/8 | - | €23,636 | +€23,636 | |
| Trade debts | 44 | €109,841 | €75,396 | -€34,444 | -31.4% |
| Suppliers | 440/4 | €109,841 | €75,396 | -€34,444 | -31.4% |
| Taxes, remuneration and social security | 45 | €20,645 | €8,587 | -€12,057 | -58.4% |
| Taxes | 450/3 | €20,645 | €3,827 | -€16,818 | -81.5% |
| Remuneration and social security | 454/9 | - | €4,760 | +€4,760 | |
| Other amounts payable | 47/48 | €11,443 | €37,670 | +€26,228 | +229% |
| Remuneration, social security and pensions | 62 | - | €44,699 | +€44,699 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,266 | €29,880 | +€7,614 | +34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,250 | - | -€14,250 | |
| Other operating charges | 640/8 | €1,908 | €15,729 | +€13,821 | +724% |
| Gross operating margin | 9900 | €82,948 | €154,477 | +€71,529 | +86.2% |
| Operating profit (loss) | 9901 | €44,525 | €64,169 | +€19,644 | +44.1% |
| Financial charges | 65/66B | €1,609 | €3,758 | +€2,149 | +134% |
| Recurring financial charges | 65 | €1,609 | €3,758 | +€2,149 | +134% |
| Profit (loss) for the period before taxes | 9903 | €42,916 | €60,411 | +€17,495 | +40.8% |
| Income taxes | 67/77 | €16,885 | €24,042 | +€7,157 | +42.4% |
| Profit (loss) for the period | 9904 | €26,031 | €36,369 | +€10,338 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,031 | €36,369 | +€10,338 | +39.7% |
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 31 October 2026 via checked.be.