MSA Renovation: 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.
MSA Renovation
Largest movements
- Receivables within one year +€79,303
up €79,303 (+95.0%), from €83,482 to €162,785
of which Other amounts receivable: +€63,405
- Cash -€13,876
down €13,876 (-100.0%), from €13,877 to €1
mainly Receivables within one year (-€79,303) and Tax, wage and social debts (-€6,487)
- Trade debts +€44,416
up €44,416 (+425%), from €10,460 to €54,876
- Profit (loss) carried forward +€28,579
up €28,579 (+47.2%), from €60,558 to €89,137
- Tax, wage and social debts -€6,487
down €6,487 (-32.8%), from €19,795 to €13,308
- Financial income +€1,774
up €1,774 (+102%), from €1,746 to €3,520
- Gross operating margin -€1,737
down €1,737 (-4.2%), from €41,275 to €39,538
- Taxes +€1,373
up €1,373 (+14.1%), from €9,745 to €11,119
- Financial charges +€532
up €532 (+24.4%), from €2,174 to €2,706
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.
Derived cash bridge
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 | €98,873 | €165,381 | +€66,508 | +67.3% |
| Fixed assets | 21/28 | €1,514 | €2,596 | +€1,081 | +71.4% |
| Tangible fixed assets | 22/27 | €764 | €1,846 | +€1,081 | +141% |
| Furniture and vehicles | 24 | €764 | €1,846 | +€1,081 | +141% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €97,359 | €162,785 | +€65,426 | +67.2% |
| Amounts receivable within one year | 40/41 | €83,482 | €162,785 | +€79,303 | +95.0% |
| Trade receivables | 40 | €58,102 | €74,000 | +€15,898 | +27.4% |
| Other amounts receivable | 41 | €25,380 | €88,784 | +€63,405 | +250% |
| Cash at bank and in hand | 54/58 | €13,877 | €1 | -€13,876 | -100.0% |
| Total equity and liabilities | 10/49 | €98,873 | €165,381 | +€66,508 | +67.3% |
| Equity | 10/15 | €68,618 | €97,197 | +€28,579 | +41.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,558 | €89,137 | +€28,579 | +47.2% |
| Amounts payable | 17/49 | €30,255 | €68,184 | +€37,929 | +125% |
| Amounts payable within one year | 42/48 | €30,255 | €68,184 | +€37,929 | +125% |
| Trade debts | 44 | €10,460 | €54,876 | +€44,416 | +425% |
| Suppliers | 440/4 | €10,460 | €54,876 | +€44,416 | +425% |
| Taxes, remuneration and social security | 45 | €19,795 | €13,308 | -€6,487 | -32.8% |
| Taxes | 450/3 | €19,795 | €13,308 | -€6,487 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198 | €205 | +€7 | +3.6% |
| Other operating charges | 640/8 | €384 | €450 | +€66 | +17.2% |
| Gross operating margin | 9900 | €41,275 | €39,538 | -€1,737 | -4.2% |
| Operating profit (loss) | 9901 | €40,692 | €38,883 | -€1,810 | -4.4% |
| Financial income | 75/76B | €1,746 | €3,520 | +€1,774 | +102% |
| Recurring financial income | 75 | €1,746 | €3,520 | +€1,774 | +102% |
| Financial charges | 65/66B | €2,174 | €2,706 | +€532 | +24.4% |
| Recurring financial charges | 65 | €2,174 | €2,706 | +€532 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €40,265 | €39,697 | -€568 | -1.4% |
| Income taxes | 67/77 | €9,745 | €11,119 | +€1,373 | +14.1% |
| Profit (loss) for the period | 9904 | €30,519 | €28,579 | -€1,941 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,519 | €28,579 | -€1,941 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.