MSBD: 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.
MSBD
Largest movements
- Intangible fixed assets -€160,000
down €160,000 (-33.3%), from €480,000 to €320,000
- Receivables within one year -€56,420
down €56,420 (-15.1%), from €372,862 to €316,443
of which Other amounts receivable: -€44,181
- Cash -€32,303
down €32,303 (-35.9%), from €89,947 to €57,643
mainly Net result for the year (-€240,737) and Provisions (-€82,823)
- Profit (loss) carried forward -€240,737
down €240,737 (-302.0%), from -€79,711 to -€320,448
- Provisions -€82,823
no longer reported in 2024 (was €82,823)
- Debts after one year +€78,199
up €78,199 (+15.1%), from €516,924 to €595,124
- Tax, wage and social debts +€75,288
up €75,288 (+94.6%), from €79,620 to €154,908
of which Remuneration and social security: +€53,501
- Other debts -€72,367
down €72,367 (-79.2%), from €91,318 to €18,950
- Other operating charges +€71,569
up €71,569 (+2633.6%), from €2,718 to €74,286
- Provisions -€52,966
down €52,966 (-177.4%), from -€29,857 to -€82,823
- Staff costs +€50,650
up €50,650 (+9.9%), from €512,396 to €563,046
- Gross operating margin -€36,071
down €36,071 (-6.7%), from €539,704 to €503,633
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 | €1,004,088 | €759,920 | -€244,168 | -24.3% |
| Formation expenses | 20 | €759 | €503 | -€256 | -33.7% |
| Fixed assets | 21/28 | €513,876 | €359,737 | -€154,139 | -30.0% |
| Intangible fixed assets | 21 | €480,000 | €320,000 | -€160,000 | -33.3% |
| Tangible fixed assets | 22/27 | €24,023 | €29,884 | +€5,861 | +24.4% |
| Plant, machinery and equipment | 23 | €3,087 | €3,227 | +€140 | +4.5% |
| Furniture and vehicles | 24 | €17,751 | €19,829 | +€2,078 | +11.7% |
| Other tangible fixed assets | 26 | €3,185 | €6,829 | +€3,644 | +114.4% |
| Financial fixed assets | 28 | €9,853 | €9,853 | = | 0.0% |
| Current assets | 29/58 | €489,453 | €399,680 | -€89,773 | -18.3% |
| Amounts receivable within one year | 40/41 | €372,862 | €316,443 | -€56,420 | -15.1% |
| Trade receivables | 40 | €221,559 | €209,321 | -€12,239 | -5.5% |
| Other amounts receivable | 41 | €151,303 | €107,122 | -€44,181 | -29.2% |
| Cash at bank and in hand | 54/58 | €89,947 | €57,643 | -€32,303 | -35.9% |
| Deferred charges and accrued income | 490/1 | €26,645 | €25,594 | -€1,050 | -3.9% |
| Total equity and liabilities | 10/49 | €1,004,088 | €759,920 | -€244,168 | -24.3% |
| Equity | 10/15 | €52,289 | -€188,448 | -€240,737 | |
| Contributions | 10/11 | €59,000 | €59,000 | = | 0.0% |
| Reserves | 13 | €73,000 | €73,000 | = | 0.0% |
| Distributable reserves | 133 | €73,000 | €73,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,711 | -€320,448 | -€240,737 | -302.0% |
| Provisions and deferred taxes | 16 | €82,823 | - | -€82,823 | |
| Provisions for liabilities and charges | 160/5 | €82,823 | - | -€82,823 | |
| Other liabilities and charges | 164/5 | €82,823 | - | -€82,823 | |
| Amounts payable | 17/49 | €868,976 | €948,369 | +€79,393 | +9.1% |
| Amounts payable after more than one year | 17 | €516,924 | €595,124 | +€78,199 | +15.1% |
| Financial debts | 170/4 | €516,924 | €595,124 | +€78,199 | +15.1% |
| Amounts payable within one year | 42/48 | €351,052 | €352,245 | +€1,193 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €153,863 | €160,566 | +€6,703 | +4.4% |
| Trade debts | 44 | €26,251 | €17,820 | -€8,430 | -32.1% |
| Suppliers | 440/4 | €26,251 | €17,820 | -€8,430 | -32.1% |
| Taxes, remuneration and social security | 45 | €79,620 | €154,908 | +€75,288 | +94.6% |
| Taxes | 450/3 | €22,015 | €43,802 | +€21,787 | +99.0% |
| Remuneration and social security | 454/9 | €57,606 | €111,106 | +€53,501 | +92.9% |
| Other amounts payable | 47/48 | €91,318 | €18,950 | -€72,367 | -79.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €512,396 | €563,046 | +€50,650 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,333 | €169,571 | -€1,763 | -1.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,857 | -€82,823 | -€52,966 | -177.4% |
| Other operating charges | 640/8 | €2,718 | €74,286 | +€71,569 | +2633.6% |
| Non-recurring operating charges | 66A | €1,213 | -€1,876 | -€3,089 | |
| Gross operating margin | 9900 | €539,704 | €503,633 | -€36,071 | -6.7% |
| Operating profit (loss) | 9901 | -€118,098 | -€218,571 | -€100,473 | -85.1% |
| Financial charges | 65/66B | €20,483 | €21,625 | +€1,142 | +5.6% |
| Recurring financial charges | 65 | €20,483 | €21,625 | +€1,142 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | -€138,581 | -€240,196 | -€101,615 | -73.3% |
| Income taxes | 67/77 | €377 | €541 | +€164 | +43.6% |
| Profit (loss) for the period | 9904 | -€138,958 | -€240,737 | -€101,779 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€138,958 | -€240,737 | -€101,779 | -73.2% |
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 29 September 2026 via checked.be.