MS MED: 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 MED
Largest movements
- Receivables within one year -€4,642
down €4,642 (-100.0%), from €4,642 to €0
of which Other amounts receivable: -€4,642
- Deferred charges and accrued income -€2,887
down €2,887 (-18.7%), from €15,405 to €12,518
- Cash -€1,630
down €1,630 (-47.7%), from €3,415 to €1,786
mainly Net result for the year (-€25,010) and Current portion of long-term debt (-€1,616)
- Tangible fixed assets -€1,613
down €1,613 (-39.7%), from €4,059 to €2,446
of which Other tangible fixed assets: -€1,144
- Profit (loss) carried forward -€25,010
down €25,010, from €14,880 to -€10,130
- Other debts +€15,196
up €15,196, from €0 to €15,196
- Current portion of long-term debt -€1,616
down €1,616 (-100.0%), from €1,616 to €0
- Trade debts +€466
up €466, from €0 to €466
- Gross operating margin -€46,794
down €46,794, from €25,831 to -€20,963
- Purchases and services -€21,030
down €21,030 (-46.7%), from €45,008 to €23,978
- Taxes -€5,832
down €5,832 (-96.8%), from €6,025 to €193
- Other operating charges -€2,375
down €2,375 (-88.5%), from €2,684 to €309
- Financial charges +€712
up €712 (+57.0%), from €1,250 to €1,962
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 | €27,521 | €16,750 | -€10,771 | -39.1% |
| Fixed assets | 21/28 | €4,059 | €2,446 | -€1,613 | -39.7% |
| Tangible fixed assets | 22/27 | €4,059 | €2,446 | -€1,613 | -39.7% |
| Plant, machinery and equipment | 23 | €747 | €436 | -€310 | -41.6% |
| Furniture and vehicles | 24 | €158 | €0 | -€158 | -100.0% |
| Other tangible fixed assets | 26 | €3,154 | €2,010 | -€1,144 | -36.3% |
| Current assets | 29/58 | €23,462 | €14,304 | -€9,158 | -39.0% |
| Amounts receivable within one year | 40/41 | €4,642 | €0 | -€4,642 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,642 | €0 | -€4,642 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,415 | €1,786 | -€1,630 | -47.7% |
| Deferred charges and accrued income | 490/1 | €15,405 | €12,518 | -€2,887 | -18.7% |
| Total equity and liabilities | 10/49 | €27,521 | €16,750 | -€10,771 | -39.1% |
| Equity | 10/15 | €19,880 | -€5,130 | -€25,010 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,880 | -€10,130 | -€25,010 | |
| Amounts payable | 17/49 | €7,641 | €21,880 | +€14,239 | +186.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €7,641 | €21,880 | +€14,239 | +186.4% |
| Current portion of amounts payable after more than one year | 42 | €1,616 | €0 | -€1,616 | -100.0% |
| Trade debts | 44 | €0 | €466 | +€466 | |
| Suppliers | 440/4 | €0 | €466 | +€466 | |
| Taxes, remuneration and social security | 45 | €6,025 | €6,217 | +€193 | +3.2% |
| Taxes | 450/3 | €6,025 | €6,217 | +€193 | +3.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €15,196 | +€15,196 | |
| Goods, raw materials, services and sundry goods | 60/61 | €45,008 | €23,978 | -€21,030 | -46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,021 | €1,613 | -€409 | -20.2% |
| Other operating charges | 640/8 | €2,684 | €309 | -€2,375 | -88.5% |
| Gross operating margin | 9900 | €25,831 | -€20,963 | -€46,794 | |
| Operating profit (loss) | 9901 | €21,125 | -€22,885 | -€44,011 | |
| Financial income | 75/76B | €102 | €30 | -€72 | -70.5% |
| Recurring financial income | 75 | €102 | €30 | -€72 | -70.5% |
| Financial charges | 65/66B | €1,250 | €1,962 | +€712 | +57.0% |
| Recurring financial charges | 65 | €1,250 | €1,962 | +€712 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | €19,978 | -€24,817 | -€44,795 | |
| Income taxes | 67/77 | €6,025 | €193 | -€5,832 | -96.8% |
| Profit (loss) for the period | 9904 | €13,953 | -€25,010 | -€38,963 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,953 | -€25,010 | -€38,963 |
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 3 October 2026 via checked.be.