MSAN GLOBAL ENTERPRISE: what changed
MSAN GLOBAL ENTERPRISE
Largest movements
- Cash -€1,782
down €1,782 (-72.3%), from €2,465 to €683
mainly Net result for the year (-€3,453) and Receivables within one year (-€125)
- Receivables within one year +€125
up €125 (+7.8%), from €1,603 to €1,729
of which Trade receivables: +€969
- Profit (loss) carried forward -€3,453
down €3,453 (-21.2%), from -€16,290 to -€19,743
- Other debts +€964
up €964 (+5.7%), from €17,039 to €18,003
- Trade debts +€657
up €657 (+118%), from €555 to €1,213
- Tax, wage and social debts +€169
new in 2025: €169
- Gross operating margin +€2,814
up €2,814 (+91.0%), from -€3,092 to -€278
- Other operating charges +€2,800
new in 2025: €2,800
- Financial charges +€338
up €338 (+231%), from €146 to €484
- Financial income +€109
new in 2025: €109
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,804 | €6,141 | -€1,662 | -21.3% |
| Current assets | 29/58 | €7,804 | €6,141 | -€1,662 | -21.3% |
| Stocks and contracts in progress | 3 | €3,730 | €3,730 | = | 0.0% |
| Stocks | 30/36 | €3,730 | €3,730 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,603 | €1,729 | +€125 | +7.8% |
| Trade receivables | 40 | - | €969 | +€969 | |
| Other amounts receivable | 41 | €1,603 | €759 | -€844 | -52.6% |
| Cash at bank and in hand | 54/58 | €2,465 | €683 | -€1,782 | -72.3% |
| Deferred charges and accrued income | 490/1 | €6 | €0 | -€6 | -100% |
| Total equity and liabilities | 10/49 | €7,804 | €6,141 | -€1,662 | -21.3% |
| Equity | 10/15 | -€9,790 | -€13,243 | -€3,453 | -35.3% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,290 | -€19,743 | -€3,453 | -21.2% |
| Amounts payable | 17/49 | €17,594 | €19,384 | +€1,790 | +10.2% |
| Amounts payable within one year | 42/48 | €17,594 | €19,384 | +€1,790 | +10.2% |
| Trade debts | 44 | €555 | €1,213 | +€657 | +118% |
| Suppliers | 440/4 | €555 | €1,213 | +€657 | +118% |
| Taxes, remuneration and social security | 45 | - | €169 | +€169 | |
| Taxes | 450/3 | - | €169 | +€169 | |
| Other amounts payable | 47/48 | €17,039 | €18,003 | +€964 | +5.7% |
| Other operating charges | 640/8 | - | €2,800 | +€2,800 | |
| Gross operating margin | 9900 | -€3,092 | -€278 | +€2,814 | +91.0% |
| Operating profit (loss) | 9901 | -€3,092 | -€3,077 | +€14 | +0.5% |
| Financial income | 75/76B | - | €109 | +€109 | |
| Recurring financial income | 75 | - | €109 | +€109 | |
| Financial charges | 65/66B | €146 | €484 | +€338 | +231% |
| Recurring financial charges | 65 | €146 | €484 | +€338 | +231% |
| Profit (loss) for the period before taxes | 9903 | -€3,238 | -€3,453 | -€215 | -6.6% |
| Profit (loss) for the period | 9904 | -€3,238 | -€3,453 | -€215 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,238 | -€3,453 | -€215 | -6.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.