MS MOTOR: 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.
What changed
MS MOTOR
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€852,149
2024 · €764,706+€87,443
Equity
€4.5m
2024 · €4.4m+€100,955
Cash
€705,139
2024 · €1.4m-€650,954
Balance sheet total
€23.5m
2024 · €25.0m-€1.4m
Largest movements
Assets
- Stocks and contracts -€1.5m
down €1.5m (-15.2%), from €9.9m to €8.4m
of which Stocks: -€1.5m
- Receivables within one year +€1.3m
up €1.3m (+34.5%), from €3.8m to €5.1m
of which Trade receivables: +€1.5m
- Cash -€650,954
down €650,954 (-48.0%), from €1.4m to €705,139
mainly Receivables within one year (-€1.3m) and Trade debts (-€793,827)
- Tangible fixed assets -€357,908
down €357,908 (-3.8%), from €9.3m to €9.0m
of which Land and buildings: -€314,396
Equity and liabilities
- Trade debts -€793,827
down €793,827 (-6.9%), from €11.5m to €10.7m
- Debts after one year -€656,513
down €656,513 (-12.3%), from €5.3m to €4.7m
of which Financial debts: -€656,513
- Short-term financial debts +€343,036
up €343,036 (+26.7%), from €1.3m to €1.6m
- Other debts -€270,092
down €270,092 (-100.0%), from €270,092 to €0
Income statement
- Turnover -€9.4m
down €9.4m (-14.3%), from €65.9m to €56.5m
- Goods and materials -€9.2m
down €9.2m (-15.9%), from €57.8m to €48.6m
of which Purchases: -€7.8m
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.
Result 2024
€764,706
Turnover
-€9.4m
Other operating income
-€62,249
Goods and materials
+€9.2m
Services and other goods
+€17,061
Staff costs
-€72,316
Depreciation
+€48,543
Write-downs
+€33,340
Other operating charges
+€71,517
Other operating items
+€13,400
Financial income
+€15,860
Financial charges
+€272,753
Taxes
-€16,646
Result 2025
€852,149
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.
From operations
+€908,189
Investment
-€426,981
Financing
-€1.1m
Cash 2024
€1.4m
From operations (derived)
+€908,189
Net result for the year
+€852,149
Depreciation
+€976,942
Stocks and contracts
+€1.5m
Receivables within one year
-€1.3m
Deferred charges and accrued income
+€18,837
Trade debts
-€793,827
Tax, wage and social debts
+€71,451
Advances received
-€140,139
Other debts
-€270,092
Accrued charges and deferred income
-€12,222
Investment (derived)
-€426,981
Investment in fixed assets (net)
-€426,981
Financing
-€1.1m
Debts after one year
-€656,513
Current portion of long-term debt
-€67,491
Short-term financial debts
+€343,036
Contributions, distributions and other
-€751,194
Cash 2025
€705,139
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,962,539 | €23,537,698 | -€1.4m | -5.7% |
| Formation expenses | 20 | €55,350 | €25,106 | -€30,244 | -54.6% |
| Fixed assets | 21/28 | €9,831,227 | €9,311,509 | -€519,718 | -5.3% |
| Intangible fixed assets | 21 | €495,594 | €332,875 | -€162,719 | -32.8% |
| Tangible fixed assets | 22/27 | €9,335,456 | €8,977,549 | -€357,908 | -3.8% |
| Land and buildings | 22 | €8,848,266 | €8,533,870 | -€314,396 | -3.6% |
| Plant, machinery and equipment | 23 | €148,668 | €146,332 | -€2,337 | -1.6% |
| Furniture and vehicles | 24 | €165,475 | €136,593 | -€28,882 | -17.5% |
| Leasing and similar rights | 25 | €75,208 | €59,002 | -€16,206 | -21.5% |
| Other tangible fixed assets | 26 | €97,839 | €93,239 | -€4,600 | -4.7% |
| Assets under construction and advance payments | 27 | - | €8,512 | +€8,512 | |
| Financial fixed assets | 28 | €176 | €1,085 | +€909 | +516.5% |
| Other financial fixed assets | 284/8 | €176 | €1,085 | +€909 | +516.5% |
| Amounts receivable and cash guarantees | 285/8 | €176 | €1,085 | +€909 | +516.5% |
| Current assets | 29/58 | €15,075,962 | €14,201,082 | -€874,880 | -5.8% |
| Stocks and contracts in progress | 3 | €9,854,460 | €8,351,848 | -€1.5m | -15.2% |
| Stocks | 30/36 | €9,854,460 | €8,322,025 | -€1.5m | -15.6% |
| Goods purchased for resale | 34 | €9,854,460 | €8,322,025 | -€1.5m | -15.6% |
| Contracts in progress | 37 | - | €29,823 | +€29,823 | |
| Amounts receivable within one year | 40/41 | €3,762,016 | €5,059,539 | +€1.3m | +34.5% |
| Trade receivables | 40 | €2,999,485 | €4,501,239 | +€1.5m | +50.1% |
| Other amounts receivable | 41 | €762,531 | €558,300 | -€204,231 | -26.8% |
| Cash at bank and in hand | 54/58 | €1,356,093 | €705,139 | -€650,954 | -48.0% |
| Deferred charges and accrued income | 490/1 | €103,393 | €84,556 | -€18,837 | -18.2% |
| Total equity and liabilities | 10/49 | €24,962,539 | €23,537,698 | -€1.4m | -5.7% |
| Equity | 10/15 | €4,441,481 | €4,542,437 | +€100,955 | +2.3% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,242,165 | €1,157,029 | -€85,136 | -6.9% |
| Reserves | 13 | €1,840,000 | €1,925,136 | +€85,136 | +4.6% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €1,800,000 | €1,885,136 | +€85,136 | +4.7% |
| Profit (loss) carried forward | 14 | €959,316 | €1,060,271 | +€100,955 | +10.5% |
| Amounts payable | 17/49 | €20,521,058 | €18,995,261 | -€1.5m | -7.4% |
| Amounts payable after more than one year | 17 | €5,340,428 | €4,683,916 | -€656,513 | -12.3% |
| Financial debts | 170/4 | €4,840,428 | €4,183,916 | -€656,513 | -13.6% |
| Subordinated loans | 170 | €182,500 | €139,167 | -€43,333 | -23.7% |
| Leasing and similar obligations | 172 | €4,767 | - | -€4,767 | |
| Credit institutions | 173 | €4,653,161 | €4,044,749 | -€608,412 | -13.1% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,032,831 | €14,175,769 | -€857,062 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €1,112,948 | €1,045,457 | -€67,491 | -6.1% |
| Financial debts | 43 | €1,283,109 | €1,626,145 | +€343,036 | +26.7% |
| Credit institutions | 430/8 | €1,283,109 | €1,626,145 | +€343,036 | +26.7% |
| Trade debts | 44 | €11,540,573 | €10,746,745 | -€793,827 | -6.9% |
| Suppliers | 440/4 | €11,540,573 | €10,746,745 | -€793,827 | -6.9% |
| Advances received on contracts in progress | 46 | €400,725 | €260,586 | -€140,139 | -35.0% |
| Taxes, remuneration and social security | 45 | €425,384 | €496,835 | +€71,451 | +16.8% |
| Taxes | 450/3 | €65,721 | €84,308 | +€18,587 | +28.3% |
| Remuneration and social security | 454/9 | €359,663 | €412,527 | +€52,864 | +14.7% |
| Other amounts payable | 47/48 | €270,092 | €0 | -€270,092 | -100.0% |
| Accrued charges and deferred income | 492/3 | €147,799 | €135,577 | -€12,222 | -8.3% |
| Operating income | 70/76A | €66,661,870 | €57,208,309 | -€9.5m | -14.2% |
| Turnover | 70 | €65,927,093 | €56,501,966 | -€9.4m | -14.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €3,813 | +€3,813 | |
| Other operating income | 74 | €734,778 | €672,529 | -€62,249 | -8.5% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Operating charges | 60/66A | €64,679,620 | €55,410,582 | -€9.3m | -14.3% |
| Goods for resale, raw materials and consumables | 60 | €57,815,665 | €48,624,358 | -€9.2m | -15.9% |
| Purchases | 600/8 | €54,943,699 | €47,178,144 | -€7.8m | -14.1% |
| Change in stocks: decrease (increase) | 609 | €2,871,966 | €1,446,213 | -€1.4m | -49.6% |
| Services and other goods | 61 | €2,414,891 | €2,397,830 | -€17,061 | -0.7% |
| Remuneration, social security and pensions | 62 | €3,077,800 | €3,150,116 | +€72,316 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025,485 | €976,942 | -€48,543 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €94,803 | €61,463 | -€33,340 | -35.2% |
| Other operating charges | 640/8 | €250,976 | €179,459 | -€71,517 | -28.5% |
| Non-recurring operating charges | 66A | - | €20,414 | +€20,414 | |
| Operating profit (loss) | 9901 | €1,982,250 | €1,797,727 | -€184,523 | -9.3% |
| Financial income | 75/76B | €16,676 | €32,536 | +€15,860 | +95.1% |
| Recurring financial income | 75 | €16,676 | €32,536 | +€15,860 | +95.1% |
| Other financial income | 752/9 | €16,676 | €32,536 | +€15,860 | +95.1% |
| Financial charges | 65/66B | €897,916 | €625,163 | -€272,753 | -30.4% |
| Recurring financial charges | 65 | €897,916 | €625,163 | -€272,753 | -30.4% |
| Debt charges | 650 | €860,790 | €584,470 | -€276,320 | -32.1% |
| Other financial charges | 652/9 | €37,125 | €40,693 | +€3,568 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €1,101,011 | €1,205,100 | +€104,089 | +9.5% |
| Income taxes | 67/77 | €336,305 | €352,951 | +€16,646 | +4.9% |
| Taxes | 670/3 | €336,500 | €353,000 | +€16,500 | +4.9% |
| Tax adjustments and reversals of tax provisions | 77 | €195 | €49 | -€146 | -74.7% |
| Profit (loss) for the period | 9904 | €764,706 | €852,149 | +€87,443 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €764,706 | €852,149 | +€87,443 | +11.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.