MS EXPORT: 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 EXPORT
Largest movements
- Stocks and contracts -€20,000
down €20,000 (-22.2%), from €90,000 to €70,000
- Cash +€9,295
up €9,295 (+510.1%), from €1,822 to €11,117
mainly Stocks and contracts (+€20,000) and Depreciation (+€280)
- Receivables within one year +€1,872
up €1,872 (+39.3%), from €4,767 to €6,639
of which Other amounts receivable: +€6,628
- Other debts -€4,721
down €4,721 (-10.0%), from €47,430 to €42,710
- Tax, wage and social debts -€3,325
down €3,325 (-66.2%), from €5,026 to €1,701
of which Remuneration and social security: -€2,500
- Gross operating margin -€7,480
down €7,480 (-85.9%), from €8,703 to €1,223
- Other operating charges -€3,735
down €3,735 (-97.5%), from €3,831 to €96
- Financial income -€3,521
down €3,521 (-100.0%), from €3,521 to €1
- Financial charges -€2,303
down €2,303 (-66.6%), from €3,455 to €1,153
- Depreciation -€2,095
down €2,095 (-88.2%), from €2,375 to €280
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 | €97,219 | €88,106 | -€9,113 | -9.4% |
| Fixed assets | 21/28 | €630 | €350 | -€280 | -44.4% |
| Tangible fixed assets | 22/27 | €630 | €350 | -€280 | -44.4% |
| Plant, machinery and equipment | 23 | €189 | - | -€189 | |
| Other tangible fixed assets | 26 | €441 | €350 | -€91 | -20.6% |
| Current assets | 29/58 | €96,589 | €87,756 | -€8,833 | -9.1% |
| Stocks and contracts in progress | 3 | €90,000 | €70,000 | -€20,000 | -22.2% |
| Stocks | 30/36 | €90,000 | €70,000 | -€20,000 | -22.2% |
| Amounts receivable within one year | 40/41 | €4,767 | €6,639 | +€1,872 | +39.3% |
| Trade receivables | 40 | €4,756 | - | -€4,756 | |
| Other amounts receivable | 41 | €11 | €6,639 | +€6,628 | +58449.1% |
| Cash at bank and in hand | 54/58 | €1,822 | €11,117 | +€9,295 | +510.1% |
| Total equity and liabilities | 10/49 | €97,219 | €88,106 | -€9,113 | -9.4% |
| Equity | 10/15 | €44,092 | €43,695 | -€397 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,632 | €23,235 | -€397 | -1.7% |
| Amounts payable | 17/49 | €53,127 | €44,411 | -€8,716 | -16.4% |
| Amounts payable within one year | 42/48 | €53,127 | €44,411 | -€8,716 | -16.4% |
| Trade debts | 44 | €671 | - | -€671 | |
| Suppliers | 440/4 | €671 | - | -€671 | |
| Taxes, remuneration and social security | 45 | €5,026 | €1,701 | -€3,325 | -66.2% |
| Taxes | 450/3 | €2,526 | €1,701 | -€825 | -32.7% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €47,430 | €42,710 | -€4,721 | -10.0% |
| Non-recurring operating income | 76A | - | €10,495 | +€10,495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,375 | €280 | -€2,095 | -88.2% |
| Other operating charges | 640/8 | €3,831 | €96 | -€3,735 | -97.5% |
| Gross operating margin | 9900 | €8,703 | €1,223 | -€7,480 | -85.9% |
| Operating profit (loss) | 9901 | €2,497 | €847 | -€1,650 | -66.1% |
| Financial income | 75/76B | €3,521 | €1 | -€3,521 | -100.0% |
| Recurring financial income | 75 | €3,521 | €1 | -€3,521 | -100.0% |
| Financial charges | 65/66B | €3,455 | €1,153 | -€2,303 | -66.6% |
| Recurring financial charges | 65 | €3,455 | €1,153 | -€2,303 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €2,563 | -€305 | -€2,868 | |
| Income taxes | 67/77 | €1,609 | €92 | -€1,517 | -94.3% |
| Profit (loss) for the period | 9904 | €954 | -€397 | -€1,351 | |
| Profit (loss) for the period to be appropriated | 9905 | €954 | -€397 | -€1,351 |
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 29 September 2026 via checked.be.