MS2D: 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.
MS2D
Largest movements
- Receivables within one year +€10,934
up €10,934 (+28.4%), from €38,440 to €49,374
of which Other amounts receivable: +€12,318
- Reserves +€16,970
up €16,970 (+55.3%), from €30,670 to €47,640
- Tax, wage and social debts +€12,107
up €12,107 (+115.0%), from €10,531 to €22,638
- Trade debts -€8,740
down €8,740 (-59.0%), from €14,811 to €6,071
- Debts after one year -€8,211
down €8,211 (-5.9%), from €140,173 to €131,963
- Taxes +€10,805
up €10,805 (+219.1%), from €4,931 to €15,737
- Gross operating margin +€8,773
up €8,773 (+22.7%), from €38,622 to €47,395
- Financial charges -€3,038
down €3,038 (-30.0%), from €10,122 to €7,083
- Depreciation +€1,094
up €1,094 (+17.3%), from €6,327 to €7,421
- Financial income +€737
up €737 (+110.1%), from €670 to €1,407
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,185 | €242,906 | +€10,721 | +4.6% |
| Fixed assets | 21/28 | €187,096 | €189,170 | +€2,075 | +1.1% |
| Tangible fixed assets | 22/27 | €187,096 | €189,170 | +€2,075 | +1.1% |
| Land and buildings | 22 | €178,367 | €173,291 | -€5,077 | -2.8% |
| Furniture and vehicles | 24 | €2,481 | €5,346 | +€2,865 | +115.5% |
| Other tangible fixed assets | 26 | €6,247 | €10,533 | +€4,286 | +68.6% |
| Current assets | 29/58 | €45,089 | €53,736 | +€8,647 | +19.2% |
| Amounts receivable within one year | 40/41 | €38,440 | €49,374 | +€10,934 | +28.4% |
| Trade receivables | 40 | €17,566 | €16,182 | -€1,384 | -7.9% |
| Other amounts receivable | 41 | €20,874 | €33,192 | +€12,318 | +59.0% |
| Cash at bank and in hand | 54/58 | €2,503 | €2,185 | -€319 | -12.7% |
| Deferred charges and accrued income | 490/1 | €4,146 | €2,177 | -€1,969 | -47.5% |
| Total equity and liabilities | 10/49 | €232,185 | €242,906 | +€10,721 | +4.6% |
| Equity | 10/15 | €52,952 | €69,069 | +€16,117 | +30.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €30,670 | €47,640 | +€16,970 | +55.3% |
| Distributable reserves | 133 | €30,670 | €47,640 | +€16,970 | +55.3% |
| Profit (loss) carried forward | 14 | €9,882 | €9,029 | -€853 | -8.6% |
| Amounts payable | 17/49 | €179,233 | €173,837 | -€5,395 | -3.0% |
| Amounts payable after more than one year | 17 | €140,173 | €131,963 | -€8,211 | -5.9% |
| Financial debts | 170/4 | €140,173 | €131,963 | -€8,211 | -5.9% |
| Amounts payable within one year | 42/48 | €39,059 | €41,875 | +€2,816 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €7,930 | €8,211 | +€281 | +3.5% |
| Financial debts | 43 | €4,955 | €4,096 | -€859 | -17.3% |
| Credit institutions | 430/8 | €4,955 | €4,096 | -€859 | -17.3% |
| Trade debts | 44 | €14,811 | €6,071 | -€8,740 | -59.0% |
| Suppliers | 440/4 | €14,811 | €6,071 | -€8,740 | -59.0% |
| Taxes, remuneration and social security | 45 | €10,531 | €22,638 | +€12,107 | +115.0% |
| Taxes | 450/3 | €10,531 | €22,638 | +€12,107 | +115.0% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,327 | €7,421 | +€1,094 | +17.3% |
| Other operating charges | 640/8 | €1,447 | €1,586 | +€139 | +9.6% |
| Gross operating margin | 9900 | €38,622 | €47,395 | +€8,773 | +22.7% |
| Operating profit (loss) | 9901 | €30,848 | €38,389 | +€7,540 | +24.4% |
| Financial income | 75/76B | €670 | €1,407 | +€737 | +110.1% |
| Recurring financial income | 75 | €670 | €1,407 | +€737 | +110.1% |
| Financial charges | 65/66B | €10,122 | €7,083 | -€3,038 | -30.0% |
| Recurring financial charges | 65 | €10,122 | €7,083 | -€3,038 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €21,397 | €32,712 | +€11,316 | +52.9% |
| Income taxes | 67/77 | €4,931 | €15,737 | +€10,805 | +219.1% |
| Profit (loss) for the period | 9904 | €16,465 | €16,976 | +€510 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,465 | €16,976 | +€510 | +3.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.