MS Dis: 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 Dis
Largest movements
- Cash +€49,795
up €49,795 (+37.6%), from €132,482 to €182,277
mainly Net result for the year (+€48,246) and Depreciation (+€18,085)
- Tangible fixed assets -€7,325
down €7,325 (-10.1%), from €72,205 to €64,880
of which Plant, machinery and equipment: -€14,901
- Receivables within one year -€4,603
down €4,603 (-61.9%), from €7,441 to €2,838
- Stocks and contracts -€3,869
down €3,869 (-5.9%), from €65,279 to €61,410
- Reserves +€86,459
up €86,459 (+4,648%), from €1,860 to €88,319
of which Distributable reserves: +€86,459
- Profit (loss) carried forward -€38,212
no longer reported in 2025 (was €38,212)
- Current portion of long-term debt -€14,256
no longer reported in 2025 (was €14,256)
- Trade debts +€13,139
up €13,139 (+7.5%), from €174,777 to €187,916
- Other debts -€9,553
down €9,553 (-53.2%), from €17,943 to €8,390
- Gross operating margin +€86,893
up €86,893 (+62.0%), from €140,191 to €227,084
- Financial charges +€16,484
up €16,484 (+150%), from €10,996 to €27,479
- Depreciation -€13,612
down €13,612 (-42.9%), from €31,696 to €18,085
- Staff costs -€7,868
down €7,868 (-5.6%), from €140,113 to €132,246
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 | €287,771 | €322,360 | +€34,589 | +12.0% |
| Fixed assets | 21/28 | €72,205 | €64,880 | -€7,325 | -10.1% |
| Tangible fixed assets | 22/27 | €72,205 | €64,880 | -€7,325 | -10.1% |
| Plant, machinery and equipment | 23 | €71,620 | €56,718 | -€14,901 | -20.8% |
| Furniture and vehicles | 24 | €585 | €8,162 | +€7,577 | +1,295% |
| Current assets | 29/58 | €215,566 | €257,480 | +€41,914 | +19.4% |
| Stocks and contracts in progress | 3 | €65,279 | €61,410 | -€3,869 | -5.9% |
| Stocks | 30/36 | €65,279 | €61,410 | -€3,869 | -5.9% |
| Amounts receivable within one year | 40/41 | €7,441 | €2,838 | -€4,603 | -61.9% |
| Other amounts receivable | 41 | €7,441 | €2,838 | -€4,603 | -61.9% |
| Cash at bank and in hand | 54/58 | €132,482 | €182,277 | +€49,795 | +37.6% |
| Deferred charges and accrued income | 490/1 | €10,364 | €10,956 | +€592 | +5.7% |
| Total equity and liabilities | 10/49 | €287,771 | €322,360 | +€34,589 | +12.0% |
| Equity | 10/15 | €52,472 | €100,719 | +€48,246 | +91.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €88,319 | +€86,459 | +4,648% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €86,459 | +€86,459 | |
| Profit (loss) carried forward | 14 | €38,212 | - | -€38,212 | |
| Amounts payable | 17/49 | €235,298 | €221,642 | -€13,657 | -5.8% |
| Amounts payable after more than one year | 17 | €22,000 | €14,667 | -€7,333 | -33.3% |
| Financial debts | 170/4 | €22,000 | €14,667 | -€7,333 | -33.3% |
| Amounts payable within one year | 42/48 | €213,298 | €206,975 | -€6,324 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €14,256 | - | -€14,256 | |
| Trade debts | 44 | €174,777 | €187,916 | +€13,139 | +7.5% |
| Suppliers | 440/4 | €174,777 | €187,916 | +€13,139 | +7.5% |
| Taxes, remuneration and social security | 45 | €6,322 | €10,669 | +€4,346 | +68.7% |
| Taxes | 450/3 | €200 | €94 | -€106 | -53.1% |
| Remuneration and social security | 454/9 | €6,123 | €10,575 | +€4,452 | +72.7% |
| Other amounts payable | 47/48 | €17,943 | €8,390 | -€9,553 | -53.2% |
| Remuneration, social security and pensions | 62 | €140,113 | €132,246 | -€7,868 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,696 | €18,085 | -€13,612 | -42.9% |
| Other operating charges | 640/8 | €1,148 | €1,146 | -€3 | -0.2% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €140,191 | €227,084 | +€86,893 | +62.0% |
| Operating profit (loss) | 9901 | -€32,768 | €75,557 | +€108,325 | |
| Financial income | 75/76B | €22 | €262 | +€241 | +1,097% |
| Recurring financial income | 75 | €22 | €262 | +€241 | +1,097% |
| Financial charges | 65/66B | €10,996 | €27,479 | +€16,484 | +150% |
| Recurring financial charges | 65 | €10,996 | €27,479 | +€16,484 | +150% |
| Profit (loss) for the period before taxes | 9903 | -€43,742 | €48,340 | +€92,082 | |
| Income taxes | 67/77 | €200 | €94 | -€106 | -53.1% |
| Profit (loss) for the period | 9904 | -€43,941 | €48,246 | +€92,188 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,941 | €48,246 | +€92,188 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.