MS PRODUCTION: 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 PRODUCTION
Largest movements
- Cash +€17,628
up €17,628 (+49.6%), from €35,572 to €53,200
mainly Net result for the year (+€17,553) and Receivables within one year (+€1,557)
- Receivables within one year -€1,557
down €1,557 (-15.5%), from €10,015 to €8,458
of which Trade receivables: -€1,018
- Reserves +€17,550
up €17,550 (+74.1%), from €23,670 to €41,220
- Other debts -€2,400
no longer reported in 2025 (was €2,400)
- Tax, wage and social debts +€1,196
up €1,196 (+11.3%), from €10,625 to €11,821
- Gross operating margin -€3,689
down €3,689 (-12.1%), from €30,508 to €26,819
- Taxes -€2,652
down €2,652 (-23.6%), from €11,254 to €8,602
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 | €45,634 | €61,658 | +€16,023 | +35.1% |
| Current assets | 29/58 | €45,634 | €61,658 | +€16,023 | +35.1% |
| Amounts receivable within one year | 40/41 | €10,015 | €8,458 | -€1,557 | -15.5% |
| Trade receivables | 40 | €3,200 | €2,182 | -€1,018 | -31.8% |
| Other amounts receivable | 41 | €6,815 | €6,276 | -€539 | -7.9% |
| Cash at bank and in hand | 54/58 | €35,572 | €53,200 | +€17,628 | +49.6% |
| Deferred charges and accrued income | 490/1 | €48 | - | -€48 | |
| Total equity and liabilities | 10/49 | €45,634 | €61,658 | +€16,023 | +35.1% |
| Equity | 10/15 | €29,880 | €47,433 | +€17,553 | +58.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,670 | €41,220 | +€17,550 | +74.1% |
| Distributable reserves | 133 | €23,670 | €41,220 | +€17,550 | +74.1% |
| Profit (loss) carried forward | 14 | €10 | €13 | +€3 | +32.4% |
| Amounts payable | 17/49 | €15,755 | €14,225 | -€1,530 | -9.7% |
| Amounts payable within one year | 42/48 | €15,755 | €14,225 | -€1,530 | -9.7% |
| Trade debts | 44 | €2,729 | €2,404 | -€326 | -11.9% |
| Suppliers | 440/4 | €2,729 | €2,404 | -€326 | -11.9% |
| Taxes, remuneration and social security | 45 | €10,625 | €11,821 | +€1,196 | +11.3% |
| Taxes | 450/3 | €10,625 | €11,821 | +€1,196 | +11.3% |
| Other amounts payable | 47/48 | €2,400 | - | -€2,400 | |
| Other operating charges | 640/8 | €422 | €622 | +€200 | +47.2% |
| Gross operating margin | 9900 | €30,508 | €26,819 | -€3,689 | -12.1% |
| Operating profit (loss) | 9901 | €30,085 | €26,197 | -€3,888 | -12.9% |
| Financial income | 75/76B | €24 | €0 | -€24 | -99.6% |
| Recurring financial income | 75 | €24 | €0 | -€24 | -99.6% |
| Financial charges | 65/66B | €127 | €42 | -€85 | -66.8% |
| Recurring financial charges | 65 | €127 | €42 | -€85 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €29,982 | €26,155 | -€3,827 | -12.8% |
| Income taxes | 67/77 | €11,254 | €8,602 | -€2,652 | -23.6% |
| Profit (loss) for the period | 9904 | €18,728 | €17,553 | -€1,175 | -6.3% |
| Transfer from tax-exempt reserves | 789 | €2,948 | - | -€2,948 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,676 | €17,553 | -€4,123 | -19.0% |
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 6 October 2026 via checked.be.