MS Services: 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 Services
Largest movements
- Tangible fixed assets +€61,614
up €61,614 (+45.2%), from €136,349 to €197,962
of which Land and buildings: +€49,116
- Cash +€3,613
up €3,613 (+10.1%), from €35,805 to €39,418
mainly Net result for the year (+€72,190) and Depreciation (+€14,354)
- Reserves +€72,190
up €72,190 (+54.9%), from €131,510 to €203,700
- Accrued charges and deferred income -€15,485
down €15,485 (-70.5%), from €21,970 to €6,485
- Tax, wage and social debts +€11,229
up €11,229 (+42.9%), from €26,163 to €37,392
of which Taxes: +€9,230
- Trade debts +€8,790
up €8,790, from €0 to €8,790
- Debts after one year -€8,639
down €8,639 (-10.6%), from €81,181 to €72,541
- Gross operating margin +€60,955
up €60,955 (+88.7%), from €68,741 to €129,695
- Taxes +€20,116
up €20,116 (+126.8%), from €15,861 to €35,977
- Depreciation +€7,835
up €7,835 (+120.2%), from €6,519 to €14,354
- Staff costs -€2,413
down €2,413 (-94.2%), from €2,562 to €149
- Financial income +€1,519
up €1,519 (+115.1%), from €1,321 to €2,840
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 | €271,059 | €339,548 | +€68,490 | +25.3% |
| Fixed assets | 21/28 | €136,349 | €197,962 | +€61,614 | +45.2% |
| Tangible fixed assets | 22/27 | €136,349 | €197,962 | +€61,614 | +45.2% |
| Land and buildings | 22 | €118,592 | €167,709 | +€49,116 | +41.4% |
| Plant, machinery and equipment | 23 | €2,807 | €2,516 | -€291 | -10.4% |
| Furniture and vehicles | 24 | €5,752 | €12,521 | +€6,769 | +117.7% |
| Other tangible fixed assets | 26 | €9,197 | €15,217 | +€6,020 | +65.5% |
| Current assets | 29/58 | €134,710 | €141,586 | +€6,876 | +5.1% |
| Amounts receivable within one year | 40/41 | €96,622 | €98,937 | +€2,315 | +2.4% |
| Trade receivables | 40 | €41,715 | €35,821 | -€5,894 | -14.1% |
| Other amounts receivable | 41 | €54,907 | €63,115 | +€8,209 | +15.0% |
| Cash at bank and in hand | 54/58 | €35,805 | €39,418 | +€3,613 | +10.1% |
| Deferred charges and accrued income | 490/1 | €2,283 | €3,231 | +€948 | +41.5% |
| Total equity and liabilities | 10/49 | €271,059 | €339,548 | +€68,490 | +25.3% |
| Equity | 10/15 | €133,510 | €205,700 | +€72,190 | +54.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €131,510 | €203,700 | +€72,190 | +54.9% |
| Distributable reserves | 133 | €131,510 | €203,700 | +€72,190 | +54.9% |
| Amounts payable | 17/49 | €137,549 | €133,848 | -€3,701 | -2.7% |
| Amounts payable after more than one year | 17 | €81,181 | €72,541 | -€8,639 | -10.6% |
| Financial debts | 170/4 | €81,181 | €72,541 | -€8,639 | -10.6% |
| Amounts payable within one year | 42/48 | €34,398 | €54,822 | +€20,424 | +59.4% |
| Current portion of amounts payable after more than one year | 42 | €8,235 | €8,639 | +€404 | +4.9% |
| Trade debts | 44 | €0 | €8,790 | +€8,790 | |
| Suppliers | 440/4 | €0 | €8,790 | +€8,790 | |
| Taxes, remuneration and social security | 45 | €26,163 | €37,392 | +€11,229 | +42.9% |
| Taxes | 450/3 | €25,962 | €35,192 | +€9,230 | +35.6% |
| Remuneration and social security | 454/9 | €201 | €2,200 | +€1,999 | +995.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €21,970 | €6,485 | -€15,485 | -70.5% |
| Remuneration, social security and pensions | 62 | €2,562 | €149 | -€2,413 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,519 | €14,354 | +€7,835 | +120.2% |
| Other operating charges | 640/8 | €2,778 | €3,810 | +€1,032 | +37.2% |
| Gross operating margin | 9900 | €68,741 | €129,695 | +€60,955 | +88.7% |
| Operating profit (loss) | 9901 | €56,882 | €111,381 | +€54,500 | +95.8% |
| Financial income | 75/76B | €1,321 | €2,840 | +€1,519 | +115.1% |
| Recurring financial income | 75 | €1,321 | €2,840 | +€1,519 | +115.1% |
| Financial charges | 65/66B | €4,786 | €6,054 | +€1,268 | +26.5% |
| Recurring financial charges | 65 | €4,786 | €6,054 | +€1,268 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €53,416 | €108,167 | +€54,751 | +102.5% |
| Income taxes | 67/77 | €15,861 | €35,977 | +€20,116 | +126.8% |
| Profit (loss) for the period | 9904 | €37,556 | €72,190 | +€34,635 | +92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,556 | €72,190 | +€34,635 | +92.2% |
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 4 October 2026 via checked.be.