MS Expert: 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 Expert
Largest movements
- Tangible fixed assets +€22,368
new in 2026: €22,368
of which Furniture and vehicles: +€19,048
- Cash -€15,588
down €15,588 (-39.3%), from €39,643 to €24,054
mainly Trade debts (-€46,297) and Investment in fixed assets (net) (-€26,272)
- Receivables within one year -€13,387
down €13,387 (-13.6%), from €98,423 to €85,036
of which Trade receivables: -€29,953
- Trade debts -€46,297
down €46,297 (-35.5%), from €130,397 to €84,100
- Tax, wage and social debts +€28,851
up €28,851 (+4210.8%), from €685 to €29,536
- Profit (loss) carried forward +€10,697
up €10,697 (+291.8%), from €3,665 to €14,362
- Turnover +€282,414
up €282,414 (+64.8%), from €435,537 to €717,951
- Purchases and services +€268,314
up €268,314 (+62.2%), from €431,175 to €699,489
- Gross operating margin +€12,546
up €12,546 (+610.4%), from €2,055 to €14,601
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,247 | €131,458 | -€6,789 | -4.9% |
| Fixed assets | 21/28 | - | €22,368 | +€22,368 | |
| Tangible fixed assets | 22/27 | - | €22,368 | +€22,368 | |
| Plant, machinery and equipment | 23 | - | €3,320 | +€3,320 | |
| Furniture and vehicles | 24 | - | €19,048 | +€19,048 | |
| Current assets | 29/58 | €138,247 | €109,091 | -€29,157 | -21.1% |
| Amounts receivable within one year | 40/41 | €98,423 | €85,036 | -€13,387 | -13.6% |
| Trade receivables | 40 | €98,164 | €68,211 | -€29,953 | -30.5% |
| Other amounts receivable | 41 | €259 | €16,825 | +€16,566 | +6392.8% |
| Cash at bank and in hand | 54/58 | €39,643 | €24,054 | -€15,588 | -39.3% |
| Deferred charges and accrued income | 490/1 | €181 | - | -€181 | |
| Total equity and liabilities | 10/49 | €138,247 | €131,458 | -€6,789 | -4.9% |
| Equity | 10/15 | €5,665 | €16,362 | +€10,697 | +188.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,665 | €14,362 | +€10,697 | +291.8% |
| Amounts payable | 17/49 | €132,582 | €115,096 | -€17,486 | -13.2% |
| Amounts payable within one year | 42/48 | €132,582 | €115,096 | -€17,486 | -13.2% |
| Trade debts | 44 | €130,397 | €84,100 | -€46,297 | -35.5% |
| Suppliers | 440/4 | €130,397 | €84,100 | -€46,297 | -35.5% |
| Taxes, remuneration and social security | 45 | €685 | €29,536 | +€28,851 | +4210.8% |
| Taxes | 450/3 | €685 | €29,536 | +€28,851 | +4210.8% |
| Other amounts payable | 47/48 | €1,500 | €1,461 | -€39 | -2.6% |
| Turnover | 70 | €435,537 | €717,951 | +€282,414 | +64.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €431,175 | €699,489 | +€268,314 | +62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,904 | +€3,904 | |
| Gross operating margin | 9900 | €2,055 | €14,601 | +€12,546 | +610.4% |
| Operating profit (loss) | 9901 | €2,055 | €10,697 | +€8,641 | +420.4% |
| Profit (loss) for the period before taxes | 9903 | €2,055 | €10,697 | +€8,641 | +420.4% |
| Profit (loss) for the period | 9904 | €2,055 | €10,697 | +€8,641 | +420.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,055 | €10,697 | +€8,641 | +420.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.