MS HEALTH: 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 HEALTH
Largest movements
- Receivables within one year -€6,858
no longer reported in 2025 (was €6,858)
- Cash -€5,630
down €5,630 (-47.5%), from €11,863 to €6,233
mainly Debts after one year (-€11,613) and Other debts (-€6,961)
- Tangible fixed assets -€5,557
down €5,557 (-8.8%), from €63,031 to €57,474
of which Furniture and vehicles: -€13,224
- Financial fixed assets -€4,605
down €4,605 (-78.3%), from €5,880 to €1,275
- Debts after one year -€11,613
down €11,613 (-33.4%), from €34,750 to €23,137
- Other debts -€6,961
down €6,961 (-46.6%), from €14,941 to €7,979
- Profit (loss) carried forward -€5,424
down €5,424 (-28.5%), from €19,024 to €13,600
- Tax, wage and social debts +€1,029
up €1,029 (+105%), from €980 to €2,009
- Gross operating margin -€5,028
down €5,028 (-26.5%), from €18,954 to €13,926
- Depreciation +€2,124
up €2,124 (+15.8%), from €13,433 to €15,557
- Other operating charges -€363
down €363 (-28.3%), from €1,284 to €921
- Financial charges -€328
down €328 (-14.3%), from €2,299 to €1,971
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 | €87,632 | €64,982 | -€22,650 | -25.8% |
| Fixed assets | 21/28 | €68,911 | €58,749 | -€10,162 | -14.7% |
| Tangible fixed assets | 22/27 | €63,031 | €57,474 | -€5,557 | -8.8% |
| Plant, machinery and equipment | 23 | €14,125 | €21,792 | +€7,667 | +54.3% |
| Furniture and vehicles | 24 | €48,906 | €35,682 | -€13,224 | -27.0% |
| Financial fixed assets | 28 | €5,880 | €1,275 | -€4,605 | -78.3% |
| Current assets | 29/58 | €18,721 | €6,233 | -€12,488 | -66.7% |
| Amounts receivable within one year | 40/41 | €6,858 | - | -€6,858 | |
| Trade receivables | 40 | €6,858 | - | -€6,858 | |
| Cash at bank and in hand | 54/58 | €11,863 | €6,233 | -€5,630 | -47.5% |
| Total equity and liabilities | 10/49 | €87,632 | €64,982 | -€22,650 | -25.8% |
| Equity | 10/15 | €22,024 | €16,600 | -€5,424 | -24.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,024 | €13,600 | -€5,424 | -28.5% |
| Amounts payable | 17/49 | €65,608 | €48,382 | -€17,226 | -26.3% |
| Amounts payable after more than one year | 17 | €34,750 | €23,137 | -€11,613 | -33.4% |
| Financial debts | 170/4 | €34,750 | €23,137 | -€11,613 | -33.4% |
| Amounts payable within one year | 42/48 | €30,858 | €25,245 | -€5,613 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €11,114 | €11,613 | +€499 | +4.5% |
| Trade debts | 44 | €3,824 | €3,643 | -€180 | -4.7% |
| Suppliers | 440/4 | €3,824 | €3,643 | -€180 | -4.7% |
| Taxes, remuneration and social security | 45 | €980 | €2,009 | +€1,029 | +105% |
| Taxes | 450/3 | €980 | €2,009 | +€1,029 | +105% |
| Other amounts payable | 47/48 | €14,941 | €7,979 | -€6,961 | -46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,433 | €15,557 | +€2,124 | +15.8% |
| Other operating charges | 640/8 | €1,284 | €921 | -€363 | -28.3% |
| Gross operating margin | 9900 | €18,954 | €13,926 | -€5,028 | -26.5% |
| Operating profit (loss) | 9901 | €4,237 | -€2,552 | -€6,789 | |
| Financial income | 75/76B | - | €129 | +€129 | |
| Recurring financial income | 75 | - | €129 | +€129 | |
| Financial charges | 65/66B | €2,299 | €1,971 | -€328 | -14.3% |
| Recurring financial charges | 65 | €2,299 | €1,971 | -€328 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €1,938 | -€4,394 | -€6,332 | |
| Income taxes | 67/77 | €982 | €1,029 | +€47 | +4.8% |
| Profit (loss) for the period | 9904 | €956 | -€5,424 | -€6,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €956 | -€5,424 | -€6,379 |
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 30 October 2026 via checked.be.