MS Design: 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 Design
Largest movements
- Tangible fixed assets +€46,964
up €46,964 (+785.7%), from €5,977 to €52,941
of which Leasing and similar rights: +€38,806
- Cash +€23,758
up €23,758 (+44.7%), from €53,129 to €76,888
mainly Net result for the year (+€34,736) and Debts after one year (+€20,914)
- Receivables within one year -€16,945
down €16,945 (-43.8%), from €38,706 to €21,761
of which Trade receivables: -€27,283
- Deferred charges and accrued income -€1,653
down €1,653 (-65.9%), from €2,510 to €857
- Reserves +€34,736
up €34,736 (+46.3%), from €75,050 to €109,787
- Debts after one year +€20,914
up €20,914, from €0 to €20,914
- Other debts -€6,913
down €6,913 (-60.4%), from €11,442 to €4,530
- Tax, wage and social debts +€2,640
up €2,640 (+98.5%), from €2,680 to €5,319
of which Taxes: +€2,740
- Depreciation +€9,549
up €9,549 (+220.6%), from €4,328 to €13,877
- Taxes -€3,294
down €3,294 (-27.4%), from €12,032 to €8,738
- Gross operating margin -€1,370
down €1,370 (-2.1%), from €65,263 to €63,893
- Other operating charges +€1,087
up €1,087 (+105.2%), from €1,033 to €2,120
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 | €100,322 | €152,446 | +€52,124 | +52.0% |
| Fixed assets | 21/28 | €5,977 | €52,941 | +€46,964 | +785.7% |
| Tangible fixed assets | 22/27 | €5,977 | €52,941 | +€46,964 | +785.7% |
| Plant, machinery and equipment | 23 | €1,417 | €10,223 | +€8,806 | +621.3% |
| Furniture and vehicles | 24 | €2,614 | €2,176 | -€438 | -16.8% |
| Leasing and similar rights | 25 | - | €38,806 | +€38,806 | |
| Other tangible fixed assets | 26 | €1,946 | €1,735 | -€210 | -10.8% |
| Current assets | 29/58 | €94,345 | €99,505 | +€5,160 | +5.5% |
| Amounts receivable within one year | 40/41 | €38,706 | €21,761 | -€16,945 | -43.8% |
| Trade receivables | 40 | €29,287 | €2,004 | -€27,283 | -93.2% |
| Other amounts receivable | 41 | €9,419 | €19,757 | +€10,338 | +109.8% |
| Cash at bank and in hand | 54/58 | €53,129 | €76,888 | +€23,758 | +44.7% |
| Deferred charges and accrued income | 490/1 | €2,510 | €857 | -€1,653 | -65.9% |
| Total equity and liabilities | 10/49 | €100,322 | €152,446 | +€52,124 | +52.0% |
| Equity | 10/15 | €77,550 | €112,287 | +€34,736 | +44.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,050 | €109,787 | +€34,736 | +46.3% |
| Distributable reserves | 133 | €75,050 | €109,787 | +€34,736 | +46.3% |
| Amounts payable | 17/49 | €22,772 | €40,159 | +€17,388 | +76.4% |
| Amounts payable after more than one year | 17 | €0 | €20,914 | +€20,914 | |
| Financial debts | 170/4 | €0 | €20,914 | +€20,914 | |
| Amounts payable within one year | 42/48 | €22,306 | €19,178 | -€3,128 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €5,129 | €5,694 | +€565 | +11.0% |
| Trade debts | 44 | €3,055 | €3,636 | +€580 | +19.0% |
| Suppliers | 440/4 | €3,055 | €3,636 | +€580 | +19.0% |
| Taxes, remuneration and social security | 45 | €2,680 | €5,319 | +€2,640 | +98.5% |
| Taxes | 450/3 | €2,580 | €5,319 | +€2,740 | +106.2% |
| Remuneration and social security | 454/9 | €100 | €0 | -€100 | -100.0% |
| Other amounts payable | 47/48 | €11,442 | €4,530 | -€6,913 | -60.4% |
| Accrued charges and deferred income | 492/3 | €466 | €67 | -€399 | -85.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,328 | €13,877 | +€9,549 | +220.6% |
| Other operating charges | 640/8 | €1,033 | €2,120 | +€1,087 | +105.2% |
| Gross operating margin | 9900 | €65,263 | €63,893 | -€1,370 | -2.1% |
| Operating profit (loss) | 9901 | €59,902 | €47,896 | -€12,006 | -20.0% |
| Financial income | 75/76B | €249 | €252 | +€3 | +1.0% |
| Recurring financial income | 75 | €249 | €252 | +€3 | +1.0% |
| Financial charges | 65/66B | €4,599 | €4,674 | +€75 | +1.6% |
| Recurring financial charges | 65 | €4,599 | €4,674 | +€75 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €55,552 | €43,474 | -€12,078 | -21.7% |
| Income taxes | 67/77 | €12,032 | €8,738 | -€3,294 | -27.4% |
| Profit (loss) for the period | 9904 | €43,520 | €34,736 | -€8,784 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,520 | €34,736 | -€8,784 | -20.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.