MS PISCINES: 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 PISCINES
Largest movements
- Receivables within one year -€32,204
down €32,204 (-69.9%), from €46,044 to €13,840
of which Trade receivables: -€30,595
- Cash +€20,549
new in 2025: €20,549
mainly Depreciation (+€33,451) and Receivables within one year (+€32,204)
- Tangible fixed assets -€10,584
down €10,584 (-7.2%), from €146,119 to €135,535
of which Plant, machinery and equipment: -€25,930
- Deferred charges and accrued income +€4,281
up €4,281 (+177%), from €2,424 to €6,705
- Stocks and contracts +€3,795
up €3,795 (+2.9%), from €132,247 to €136,042
- Trade debts -€31,419
no longer reported in 2025 (was €31,419)
- Tax, wage and social debts +€19,021
up €19,021 (+39.2%), from €48,534 to €67,555
- Current portion of long-term debt +€13,885
new in 2025: €13,885
- Debts after one year -€13,100
down €13,100 (-34.8%), from €37,600 to €24,500
- Short-term financial debts -€13,100
down €13,100 (-11.6%), from €113,100 to €100,000
of which Credit institutions: -€13,100
- Turnover +€186,987
up €186,987 (+25.6%), from €731,776 to €918,763
- Purchases and services +€146,900
up €146,900 (+20.9%), from €702,211 to €849,111
- Gross operating margin +€40,087
up €40,087 (+136%), from €29,565 to €69,652
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 | €330,780 | €315,520 | -€15,260 | -4.6% |
| Formation expenses | 20 | €1,340 | €243 | -€1,097 | -81.9% |
| Fixed assets | 21/28 | €148,725 | €138,141 | -€10,584 | -7.1% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €146,119 | €135,535 | -€10,584 | -7.2% |
| Plant, machinery and equipment | 23 | €127,444 | €101,514 | -€25,930 | -20.3% |
| Furniture and vehicles | 24 | €18,675 | €34,021 | +€15,346 | +82.2% |
| Financial fixed assets | 28 | €2,605 | €2,605 | = | 0.0% |
| Current assets | 29/58 | €180,715 | €177,136 | -€3,579 | -2.0% |
| Stocks and contracts in progress | 3 | €132,247 | €136,042 | +€3,795 | +2.9% |
| Stocks | 30/36 | €132,247 | €136,042 | +€3,795 | +2.9% |
| Amounts receivable within one year | 40/41 | €46,044 | €13,840 | -€32,204 | -69.9% |
| Trade receivables | 40 | €44,435 | €13,840 | -€30,595 | -68.9% |
| Other amounts receivable | 41 | €1,609 | - | -€1,609 | |
| Cash at bank and in hand | 54/58 | - | €20,549 | +€20,549 | |
| Deferred charges and accrued income | 490/1 | €2,424 | €6,705 | +€4,281 | +177% |
| Total equity and liabilities | 10/49 | €330,780 | €315,520 | -€15,260 | -4.6% |
| Equity | 10/15 | €98,839 | €109,580 | +€10,741 | +10.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,161 | €9,580 | +€10,741 | |
| Amounts payable | 17/49 | €231,941 | €205,940 | -€26,001 | -11.2% |
| Amounts payable after more than one year | 17 | €37,600 | €24,500 | -€13,100 | -34.8% |
| Financial debts | 170/4 | €37,600 | €24,500 | -€13,100 | -34.8% |
| Amounts payable within one year | 42/48 | €193,053 | €181,440 | -€11,613 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | - | €13,885 | +€13,885 | |
| Financial debts | 43 | €113,100 | €100,000 | -€13,100 | -11.6% |
| Credit institutions | 430/8 | €13,100 | - | -€13,100 | |
| Other loans | 439 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €31,419 | - | -€31,419 | |
| Suppliers | 440/4 | €31,419 | - | -€31,419 | |
| Taxes, remuneration and social security | 45 | €48,534 | €67,555 | +€19,021 | +39.2% |
| Taxes | 450/3 | €48,534 | €67,555 | +€19,021 | +39.2% |
| Accrued charges and deferred income | 492/3 | €1,288 | - | -€1,288 | |
| Turnover | 70 | €731,776 | €918,763 | +€186,987 | +25.6% |
| Non-recurring operating income | 76A | - | €21,074 | +€21,074 | |
| Goods, raw materials, services and sundry goods | 60/61 | €702,211 | €849,111 | +€146,900 | +20.9% |
| Remuneration, social security and pensions | 62 | €1,894 | - | -€1,894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,279 | €33,451 | -€4,828 | -12.6% |
| Other operating charges | 640/8 | €761 | €1,145 | +€384 | +50.5% |
| Non-recurring operating charges | 66A | - | €7,556 | +€7,556 | |
| Gross operating margin | 9900 | €29,565 | €69,652 | +€40,087 | +136% |
| Operating profit (loss) | 9901 | -€11,369 | €27,500 | +€38,869 | |
| Financial charges | 65/66B | €11,050 | €16,759 | +€5,709 | +51.7% |
| Recurring financial charges | 65 | €11,050 | €16,759 | +€5,709 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | -€22,419 | €10,741 | +€33,160 | |
| Income taxes | 67/77 | -€3,688 | - | +€3,688 | |
| Profit (loss) for the period | 9904 | -€18,731 | €10,741 | +€29,472 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,731 | €10,741 | +€29,472 |
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 13 October 2026 via checked.be.