MSBpartner: 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.
MSBpartner
Largest movements
- Tangible fixed assets +€325,965
up €325,965 (+1,313%), from €24,818 to €350,783
of which Land and buildings: +€322,249
- Cash -€32,355
down €32,355 (-91.3%), from €35,451 to €3,096
mainly Investment in fixed assets (net) (-€340,054)
- Receivables within one year -€10,035
down €10,035 (-55.9%), from €17,967 to €7,932
of which Other amounts receivable: -€7,907
- Deferred charges and accrued income -€6,404
down €6,404 (-83.7%), from €7,649 to €1,245
- Financial fixed assets +€5,490
up €5,490 (+122%), from €4,495 to €9,985
- Profit (loss) carried forward +€136,750
up €136,750 (+417%), from €32,762 to €169,512
- Other debts +€73,178
new in 2025: €73,178
- Trade debts +€41,249
up €41,249 (+102%), from €40,587 to €81,836
- Tax, wage and social debts +€31,485
up €31,485 (+343%), from €9,178 to €40,663
- Gross operating margin +€147,039
up €147,039 (+320%), from €45,889 to €192,929
- Taxes +€31,368
up €31,368 (+342%), from €9,178 to €40,546
- Depreciation +€8,416
up €8,416 (+4,620%), from €182 to €8,598
- Other operating charges +€2,461
up €2,461 (+1,509%), from €163 to €2,624
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 | €90,380 | €373,041 | +€282,662 | +313% |
| Fixed assets | 21/28 | €29,313 | €360,768 | +€331,455 | +1,131% |
| Tangible fixed assets | 22/27 | €24,818 | €350,783 | +€325,965 | +1,313% |
| Land and buildings | 22 | €24,818 | €347,067 | +€322,249 | +1,298% |
| Plant, machinery and equipment | 23 | - | €3,717 | +€3,717 | |
| Financial fixed assets | 28 | €4,495 | €9,985 | +€5,490 | +122% |
| Current assets | 29/58 | €61,067 | €12,273 | -€48,794 | -79.9% |
| Amounts receivable within one year | 40/41 | €17,967 | €7,932 | -€10,035 | -55.9% |
| Trade receivables | 40 | €7,529 | €5,402 | -€2,127 | -28.3% |
| Other amounts receivable | 41 | €10,438 | €2,531 | -€7,907 | -75.8% |
| Cash at bank and in hand | 54/58 | €35,451 | €3,096 | -€32,355 | -91.3% |
| Deferred charges and accrued income | 490/1 | €7,649 | €1,245 | -€6,404 | -83.7% |
| Total equity and liabilities | 10/49 | €90,380 | €373,041 | +€282,662 | +313% |
| Equity | 10/15 | €40,615 | €177,365 | +€136,750 | +337% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,853 | €2,853 | = | 0.0% |
| Distributable reserves | 133 | €2,853 | €2,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,762 | €169,512 | +€136,750 | +417% |
| Amounts payable | 17/49 | €49,765 | €195,677 | +€145,912 | +293% |
| Amounts payable within one year | 42/48 | €49,765 | €195,677 | +€145,912 | +293% |
| Trade debts | 44 | €40,587 | €81,836 | +€41,249 | +102% |
| Suppliers | 440/4 | €40,587 | €81,836 | +€41,249 | +102% |
| Taxes, remuneration and social security | 45 | €9,178 | €40,663 | +€31,485 | +343% |
| Taxes | 450/3 | €9,178 | €40,663 | +€31,485 | +343% |
| Other amounts payable | 47/48 | - | €73,178 | +€73,178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182 | €8,598 | +€8,416 | +4,620% |
| Other operating charges | 640/8 | €163 | €2,624 | +€2,461 | +1,509% |
| Gross operating margin | 9900 | €45,889 | €192,929 | +€147,039 | +320% |
| Operating profit (loss) | 9901 | €45,544 | €181,706 | +€136,162 | +299% |
| Financial income | 75/76B | €1 | €0 | -€1 | -95.1% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -95.1% |
| Financial charges | 65/66B | €3,605 | €4,410 | +€805 | +22.3% |
| Recurring financial charges | 65 | €3,605 | €4,410 | +€805 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €41,940 | €177,296 | +€135,356 | +323% |
| Income taxes | 67/77 | €9,178 | €40,546 | +€31,368 | +342% |
| Profit (loss) for the period | 9904 | €32,762 | €136,750 | +€103,988 | +317% |
| Profit (loss) for the period to be appropriated | 9905 | €32,762 | €136,750 | +€103,988 | +317% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.