MS-Invest: 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-Invest
Largest movements
- Deferred charges and accrued income +€4,818
new in 2025: €4,818
- Tangible fixed assets +€3,700
up €3,700 (+9.9%), from €37,356 to €41,057
- Receivables within one year +€1,207
up €1,207 (+88.9%), from €1,358 to €2,565
of which Trade receivables: +€1,515
- Other debts +€19,351
up €19,351 (+1,203%), from €1,608 to €20,959
- Trade debts -€5,507
down €5,507 (-80.2%), from €6,870 to €1,363
- Profit (loss) carried forward -€3,171
down €3,171 (-32.4%), from -€9,790 to -€12,962
- Debts after one year -€1,189
down €1,189 (-7.9%), from €15,031 to €13,843
of which Financial debts: -€2,939
- Tax, wage and social debts +€631
new in 2025: €631
- Gross operating margin +€9,747
up €9,747, from -€6,463 to €3,285
- Depreciation +€2,816
up €2,816 (+171%), from €1,644 to €4,460
- Other operating charges -€653
down €653 (-48.4%), from €1,348 to €695
- Financial charges +€325
up €325 (+96.8%), from €336 to €661
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 | €41,561 | €51,773 | +€10,211 | +24.6% |
| Fixed assets | 21/28 | €37,356 | €41,057 | +€3,700 | +9.9% |
| Tangible fixed assets | 22/27 | €37,356 | €41,057 | +€3,700 | +9.9% |
| Other tangible fixed assets | 26 | €37,356 | €41,057 | +€3,700 | +9.9% |
| Current assets | 29/58 | €4,205 | €10,716 | +€6,511 | +155% |
| Amounts receivable within one year | 40/41 | €1,358 | €2,565 | +€1,207 | +88.9% |
| Trade receivables | 40 | €1,050 | €2,565 | +€1,515 | +144% |
| Other amounts receivable | 41 | €308 | €0 | -€308 | -100% |
| Cash at bank and in hand | 54/58 | €2,848 | €3,333 | +€485 | +17.0% |
| Deferred charges and accrued income | 490/1 | - | €4,818 | +€4,818 | |
| Total equity and liabilities | 10/49 | €41,561 | €51,773 | +€10,211 | +24.6% |
| Equity | 10/15 | €15,210 | €12,038 | -€3,171 | -20.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,790 | -€12,962 | -€3,171 | -32.4% |
| Amounts payable | 17/49 | €26,352 | €39,734 | +€13,382 | +50.8% |
| Amounts payable after more than one year | 17 | €15,031 | €13,843 | -€1,189 | -7.9% |
| Financial debts | 170/4 | €11,001 | €8,063 | -€2,939 | -26.7% |
| Other amounts payable | 178/9 | €4,030 | €5,780 | +€1,750 | +43.4% |
| Amounts payable within one year | 42/48 | €11,320 | €25,892 | +€14,571 | +129% |
| Current portion of amounts payable after more than one year | 42 | €2,842 | €2,939 | +€97 | +3.4% |
| Trade debts | 44 | €6,870 | €1,363 | -€5,507 | -80.2% |
| Suppliers | 440/4 | €6,870 | €1,363 | -€5,507 | -80.2% |
| Taxes, remuneration and social security | 45 | - | €631 | +€631 | |
| Taxes | 450/3 | - | €631 | +€631 | |
| Other amounts payable | 47/48 | €1,608 | €20,959 | +€19,351 | +1,203% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,644 | €4,460 | +€2,816 | +171% |
| Other operating charges | 640/8 | €1,348 | €695 | -€653 | -48.4% |
| Non-recurring operating charges | 66A | - | €640 | +€640 | |
| Gross operating margin | 9900 | -€6,463 | €3,285 | +€9,747 | |
| Operating profit (loss) | 9901 | -€9,455 | -€2,510 | +€6,944 | +73.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €336 | €661 | +€325 | +96.8% |
| Recurring financial charges | 65 | €336 | €661 | +€325 | +96.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,790 | -€3,171 | +€6,619 | +67.6% |
| Profit (loss) for the period | 9904 | -€9,790 | -€3,171 | +€6,619 | +67.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,790 | -€3,171 | +€6,619 | +67.6% |
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 18 October 2026 via checked.be.