MS MANAGEMENT: 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 MANAGEMENT
Largest movements
- Financial fixed assets +€75,000
new in 2025: €75,000
- Receivables within one year +€61,018
up €61,018 (+388.7%), from €15,700 to €76,718
of which Trade receivables: +€30,942
- Profit (loss) carried forward +€58,488
up €58,488 (+149.3%), from €39,175 to €97,663
- Trade debts +€47,438
up €47,438 (+169.6%), from €27,971 to €75,410
- Tax, wage and social debts +€28,781
up €28,781 (+212.5%), from €13,542 to €42,324
- Turnover -€129,872
no longer reported in 2025 (was €129,872)
- Purchases and services -€77,213
no longer reported in 2025 (was €77,213)
- Gross operating margin +€26,756
up €26,756 (+50.8%), from €52,658 to €79,415
- Taxes +€6,722
up €6,722 (+51.5%), from €13,058 to €19,780
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 | €85,688 | €220,396 | +€134,707 | +157.2% |
| Fixed assets | 21/28 | - | €75,000 | +€75,000 | |
| Financial fixed assets | 28 | - | €75,000 | +€75,000 | |
| Current assets | 29/58 | €85,688 | €145,396 | +€59,707 | +69.7% |
| Amounts receivable within one year | 40/41 | €15,700 | €76,718 | +€61,018 | +388.7% |
| Trade receivables | 40 | €15,700 | €46,642 | +€30,942 | +197.1% |
| Other amounts receivable | 41 | - | €30,076 | +€30,076 | |
| Cash at bank and in hand | 54/58 | €69,988 | €68,678 | -€1,311 | -1.9% |
| Total equity and liabilities | 10/49 | €85,688 | €220,396 | +€134,707 | +157.2% |
| Equity | 10/15 | €44,175 | €102,663 | +€58,488 | +132.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,175 | €97,663 | +€58,488 | +149.3% |
| Amounts payable | 17/49 | €41,514 | €117,733 | +€76,220 | +183.6% |
| Amounts payable within one year | 42/48 | €41,514 | €117,733 | +€76,220 | +183.6% |
| Trade debts | 44 | €27,971 | €75,410 | +€47,438 | +169.6% |
| Suppliers | 440/4 | €27,971 | €75,410 | +€47,438 | +169.6% |
| Taxes, remuneration and social security | 45 | €13,542 | €42,324 | +€28,781 | +212.5% |
| Taxes | 450/3 | €13,542 | €42,324 | +€28,781 | +212.5% |
| Turnover | 70 | €129,872 | - | -€129,872 | |
| Goods, raw materials, services and sundry goods | 60/61 | €77,213 | - | -€77,213 | |
| Other operating charges | 640/8 | €387 | €1,002 | +€614 | +158.6% |
| Gross operating margin | 9900 | €52,658 | €79,415 | +€26,756 | +50.8% |
| Operating profit (loss) | 9901 | €52,271 | €78,413 | +€26,142 | +50.0% |
| Financial charges | 65/66B | €38 | €145 | +€108 | +284.7% |
| Recurring financial charges | 65 | €38 | €145 | +€108 | +284.7% |
| Profit (loss) for the period before taxes | 9903 | €52,233 | €78,268 | +€26,034 | +49.8% |
| Income taxes | 67/77 | €13,058 | €19,780 | +€6,722 | +51.5% |
| Profit (loss) for the period | 9904 | €39,175 | €58,488 | +€19,313 | +49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,175 | €58,488 | +€19,313 | +49.3% |
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 12 October 2026 via checked.be.