MS PROJECT: 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 PROJECT
Largest movements
- Deferred charges and accrued income +€24,157
new in 2025: €24,157
- Receivables within one year -€18,753
down €18,753 (-48.0%), from €39,091 to €20,338
- Tangible fixed assets -€5,529
down €5,529 (-26.2%), from €21,070 to €15,542
of which Furniture and vehicles: -€3,962
- Cash +€4,271
up €4,271 (+661.2%), from €646 to €4,917
mainly Other debts (+€20,991) and Receivables within one year (+€18,753)
- Other debts +€20,991
up €20,991 (+2904.8%), from €723 to €21,713
- Trade debts -€6,759
down €6,759 (-38.6%), from €17,521 to €10,762
- Profit (loss) carried forward -€5,370
down €5,370 (-21.6%), from €24,815 to €19,445
- Tax, wage and social debts -€4,715
down €4,715 (-29.9%), from €15,749 to €11,034
of which Taxes: -€6,268
- Turnover -€185,111
no longer reported in 2025 (was €185,111)
- Purchases and services -€143,422
no longer reported in 2025 (was €143,422)
- Staff costs +€16,759
up €16,759 (+89.7%), from €18,675 to €35,433
- Gross operating margin -€3,262
down €3,262 (-7.8%), from €41,689 to €38,426
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 | €60,807 | €64,954 | +€4,147 | +6.8% |
| Fixed assets | 21/28 | €21,070 | €15,542 | -€5,529 | -26.2% |
| Tangible fixed assets | 22/27 | €21,070 | €15,542 | -€5,529 | -26.2% |
| Plant, machinery and equipment | 23 | €7,575 | €6,007 | -€1,567 | -20.7% |
| Furniture and vehicles | 24 | €13,496 | €9,534 | -€3,962 | -29.4% |
| Current assets | 29/58 | €39,737 | €49,412 | +€9,675 | +24.3% |
| Amounts receivable within one year | 40/41 | €39,091 | €20,338 | -€18,753 | -48.0% |
| Trade receivables | 40 | €39,091 | €20,338 | -€18,753 | -48.0% |
| Cash at bank and in hand | 54/58 | €646 | €4,917 | +€4,271 | +661.2% |
| Deferred charges and accrued income | 490/1 | - | €24,157 | +€24,157 | |
| Total equity and liabilities | 10/49 | €60,807 | €64,954 | +€4,147 | +6.8% |
| Equity | 10/15 | €26,815 | €21,445 | -€5,370 | -20.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,815 | €19,445 | -€5,370 | -21.6% |
| Amounts payable | 17/49 | €33,992 | €43,509 | +€9,517 | +28.0% |
| Amounts payable within one year | 42/48 | €33,992 | €43,509 | +€9,517 | +28.0% |
| Trade debts | 44 | €17,521 | €10,762 | -€6,759 | -38.6% |
| Suppliers | 440/4 | €17,521 | €10,762 | -€6,759 | -38.6% |
| Taxes, remuneration and social security | 45 | €15,749 | €11,034 | -€4,715 | -29.9% |
| Taxes | 450/3 | €13,084 | €6,816 | -€6,268 | -47.9% |
| Remuneration and social security | 454/9 | €2,664 | €4,218 | +€1,554 | +58.3% |
| Other amounts payable | 47/48 | €723 | €21,713 | +€20,991 | +2904.8% |
| Turnover | 70 | €185,111 | - | -€185,111 | |
| Goods, raw materials, services and sundry goods | 60/61 | €143,422 | - | -€143,422 | |
| Remuneration, social security and pensions | 62 | €18,675 | €35,433 | +€16,759 | +89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,914 | €5,529 | +€1,615 | +41.3% |
| Other operating charges | 640/8 | €453 | €459 | +€6 | +1.3% |
| Gross operating margin | 9900 | €41,689 | €38,426 | -€3,262 | -7.8% |
| Operating profit (loss) | 9901 | €18,647 | -€2,995 | -€21,642 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €76 | €353 | +€277 | +366.9% |
| Recurring financial charges | 65 | €76 | €353 | +€277 | +366.9% |
| Profit (loss) for the period before taxes | 9903 | €18,572 | -€3,347 | -€21,919 | |
| Income taxes | 67/77 | €3,870 | €2,022 | -€1,847 | -47.7% |
| Profit (loss) for the period | 9904 | €14,702 | -€5,370 | -€20,072 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,702 | -€5,370 | -€20,072 |
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.