MS CONSULT: 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 CONSULT
Largest movements
- Cash +€55,336
up €55,336 (+36.8%), from €150,443 to €205,778
mainly Net result for the year (+€115,379) and Depreciation (+€37,804)
- Tangible fixed assets -€32,219
down €32,219 (-7.9%), from €409,511 to €377,292
of which Land and buildings: -€24,745
- Current investments +€24,000
up €24,000 (+266.7%), from €9,000 to €33,000
- Reserves +€49,190
up €49,190 (+14.8%), from €332,587 to €381,777
- Debts after one year -€26,222
down €26,222 (-9.7%), from €270,304 to €244,082
- Tax, wage and social debts +€18,839
up €18,839 (+195.9%), from €9,618 to €28,457
- Gross operating margin +€25,469
up €25,469 (+14.6%), from €174,754 to €200,223
- Other operating charges -€4,773
down €4,773 (-56.2%), from €8,488 to €3,715
- Financial charges -€2,697
down €2,697 (-22.9%), from €11,758 to €9,061
- Financial income +€2,220
up €2,220 (+158.6%), from €1,400 to €3,620
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 | €673,792 | €714,740 | +€40,948 | +6.1% |
| Fixed assets | 21/28 | €409,511 | €377,292 | -€32,219 | -7.9% |
| Tangible fixed assets | 22/27 | €409,511 | €377,292 | -€32,219 | -7.9% |
| Land and buildings | 22 | €391,842 | €367,097 | -€24,745 | -6.3% |
| Plant, machinery and equipment | 23 | €5,298 | €3,563 | -€1,735 | -32.8% |
| Furniture and vehicles | 24 | €12,371 | €6,632 | -€5,739 | -46.4% |
| Current assets | 29/58 | €264,281 | €337,448 | +€73,167 | +27.7% |
| Amounts receivable within one year | 40/41 | €103,055 | €98,601 | -€4,454 | -4.3% |
| Trade receivables | 40 | €39,414 | €37,181 | -€2,233 | -5.7% |
| Other amounts receivable | 41 | €63,641 | €61,420 | -€2,220 | -3.5% |
| Current investments | 50/53 | €9,000 | €33,000 | +€24,000 | +266.7% |
| Cash at bank and in hand | 54/58 | €150,443 | €205,778 | +€55,336 | +36.8% |
| Deferred charges and accrued income | 490/1 | €1,784 | €69 | -€1,715 | -96.2% |
| Total equity and liabilities | 10/49 | €673,792 | €714,740 | +€40,948 | +6.1% |
| Equity | 10/15 | €362,687 | €410,217 | +€47,530 | +13.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €332,587 | €381,777 | +€49,190 | +14.8% |
| Distributable reserves | 133 | €332,587 | €381,777 | +€49,190 | +14.8% |
| Profit (loss) carried forward | 14 | €30,000 | €28,340 | -€1,660 | -5.5% |
| Amounts payable | 17/49 | €311,105 | €304,523 | -€6,582 | -2.1% |
| Amounts payable after more than one year | 17 | €270,304 | €244,082 | -€26,222 | -9.7% |
| Financial debts | 170/4 | €270,304 | €244,082 | -€26,222 | -9.7% |
| Amounts payable within one year | 42/48 | €40,801 | €59,756 | +€18,955 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €25,562 | €26,105 | +€543 | +2.1% |
| Trade debts | 44 | €3,251 | €2,824 | -€427 | -13.1% |
| Suppliers | 440/4 | €3,251 | €2,824 | -€427 | -13.1% |
| Taxes, remuneration and social security | 45 | €9,618 | €28,457 | +€18,839 | +195.9% |
| Taxes | 450/3 | €9,618 | €28,457 | +€18,839 | +195.9% |
| Other amounts payable | 47/48 | €2,370 | €2,370 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €685 | +€685 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,591 | €37,804 | +€1,213 | +3.3% |
| Other operating charges | 640/8 | €8,488 | €3,715 | -€4,773 | -56.2% |
| Gross operating margin | 9900 | €174,754 | €200,223 | +€25,469 | +14.6% |
| Operating profit (loss) | 9901 | €129,675 | €158,704 | +€29,030 | +22.4% |
| Financial income | 75/76B | €1,400 | €3,620 | +€2,220 | +158.6% |
| Recurring financial income | 75 | €1,400 | €3,620 | +€2,220 | +158.6% |
| Financial charges | 65/66B | €11,758 | €9,061 | -€2,697 | -22.9% |
| Recurring financial charges | 65 | €11,758 | €9,061 | -€2,697 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €119,317 | €153,264 | +€33,947 | +28.5% |
| Income taxes | 67/77 | €37,739 | €37,885 | +€146 | +0.4% |
| Profit (loss) for the period | 9904 | €81,578 | €115,379 | +€33,801 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,578 | €115,379 | +€33,801 | +41.4% |
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 10 October 2026 via checked.be.