MS4CONSULTING: 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.
MS4CONSULTING
Largest movements
- Current investments -€87,500
down €87,500 (-31.8%), from €275,000 to €187,500
- Receivables within one year +€80,659
up €80,659 (+319%), from €25,296 to €105,955
of which Other amounts receivable: +€76,680
- Cash -€79,071
down €79,071 (-54.0%), from €146,540 to €67,469
mainly Contributions, distributions and other (-€209,069) and Receivables within one year (-€80,659)
- Profit (loss) carried forward -€61,318
no longer reported in 2025 (was €61,318)
- Reserves -€60,919
down €60,919 (-17.0%), from €357,665 to €296,746
of which Distributable reserves: -€60,919
- Other debts +€22,971
up €22,971 (+58.6%), from €39,186 to €62,157
- Tax, wage and social debts +€8,469
up €8,469 (+210%), from €4,034 to €12,503
of which Taxes: +€9,819
- Gross operating margin -€14,887
down €14,887 (-11.1%), from €134,701 to €119,814
- Financial income +€6,855
up €6,855 (+269%), from €2,548 to €9,403
- Financial charges -€3,222
down €3,222 (-52.9%), from €6,088 to €2,866
- Depreciation +€1,352
up €1,352 (+52.5%), from €2,575 to €3,927
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 | €474,140 | €384,482 | -€89,658 | -18.9% |
| Fixed assets | 21/28 | €17,853 | €13,926 | -€3,927 | -22.0% |
| Tangible fixed assets | 22/27 | €17,853 | €13,926 | -€3,927 | -22.0% |
| Furniture and vehicles | 24 | €1,441 | €736 | -€705 | -48.9% |
| Other tangible fixed assets | 26 | €16,413 | €13,190 | -€3,222 | -19.6% |
| Current assets | 29/58 | €456,287 | €370,556 | -€85,731 | -18.8% |
| Amounts receivable within one year | 40/41 | €25,296 | €105,955 | +€80,659 | +319% |
| Trade receivables | 40 | €15,226 | €19,205 | +€3,980 | +26.1% |
| Other amounts receivable | 41 | €10,071 | €86,750 | +€76,680 | +761% |
| Current investments | 50/53 | €275,000 | €187,500 | -€87,500 | -31.8% |
| Cash at bank and in hand | 54/58 | €146,540 | €67,469 | -€79,071 | -54.0% |
| Deferred charges and accrued income | 490/1 | €9,450 | €9,632 | +€182 | +1.9% |
| Total equity and liabilities | 10/49 | €474,140 | €384,482 | -€89,658 | -18.9% |
| Equity | 10/15 | €425,183 | €302,946 | -€122,237 | -28.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €357,665 | €296,746 | -€60,919 | -17.0% |
| Tax-exempt reserves | 132 | €29,470 | €29,470 | = | 0.0% |
| Distributable reserves | 133 | €328,195 | €267,276 | -€60,919 | -18.6% |
| Profit (loss) carried forward | 14 | €61,318 | - | -€61,318 | |
| Amounts payable | 17/49 | €48,957 | €81,536 | +€32,579 | +66.5% |
| Amounts payable within one year | 42/48 | €44,392 | €77,506 | +€33,114 | +74.6% |
| Trade debts | 44 | €1,172 | €2,846 | +€1,674 | +143% |
| Suppliers | 440/4 | €1,172 | €2,846 | +€1,674 | +143% |
| Taxes, remuneration and social security | 45 | €4,034 | €12,503 | +€8,469 | +210% |
| Taxes | 450/3 | €2,684 | €12,503 | +€9,819 | +366% |
| Remuneration and social security | 454/9 | €1,350 | - | -€1,350 | |
| Other amounts payable | 47/48 | €39,186 | €62,157 | +€22,971 | +58.6% |
| Accrued charges and deferred income | 492/3 | €4,565 | €4,030 | -€535 | -11.7% |
| Non-recurring operating income | 76A | €35,264 | - | -€35,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,575 | €3,927 | +€1,352 | +52.5% |
| Other operating charges | 640/8 | €942 | €942 | +€0 | 0.0% |
| Gross operating margin | 9900 | €134,701 | €119,814 | -€14,887 | -11.1% |
| Operating profit (loss) | 9901 | €131,184 | €114,944 | -€16,240 | -12.4% |
| Financial income | 75/76B | €2,548 | €9,403 | +€6,855 | +269% |
| Recurring financial income | 75 | €2,548 | €9,403 | +€6,855 | +269% |
| Financial charges | 65/66B | €6,088 | €2,866 | -€3,222 | -52.9% |
| Recurring financial charges | 65 | €6,088 | €2,866 | -€3,222 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €127,644 | €121,481 | -€6,162 | -4.8% |
| Income taxes | 67/77 | €35,190 | €34,649 | -€541 | -1.5% |
| Profit (loss) for the period | 9904 | €92,454 | €86,832 | -€5,622 | -6.1% |
| Transfer to tax-exempt reserves | 689 | €29,470 | - | -€29,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,984 | €86,832 | +€23,848 | +37.9% |
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 17 October 2026 via checked.be.