MSC: 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.
What changed
MSC
NACE 56.111, Full-service restaurants
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6,602
2024 · €15,679-€9,077
Equity
€548,245
2024 · €541,643+€6,602
Cash
€137,682
2024 · €122,985+€14,696
Balance sheet total
€1.7m
2024 · €1.6m+€71,330
Largest movements
Assets
- Receivables within one year +€55,698
up €55,698 (+34.5%), from €161,599 to €217,297
of which Trade receivables: +€43,637
Equity and liabilities
- Trade debts +€122,935
up €122,935 (+92.9%), from €132,263 to €255,198
- Debts after one year -€112,698
down €112,698 (-15.0%), from €750,121 to €637,423
- Tax, wage and social debts +€38,492
up €38,492 (+71.6%), from €53,756 to €92,247
of which Remuneration and social security: +€27,266
- Current portion of long-term debt +€18,312
up €18,312 (+12.6%), from €145,077 to €163,389
Income statement
- Staff costs +€164,514
up €164,514 (+34.0%), from €483,384 to €647,898
- Gross operating margin +€155,510
up €155,510 (+22.6%), from €687,252 to €842,762
- Depreciation +€11,878
up €11,878 (+8.7%), from €135,755 to €147,633
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.
Result 2024
€15,679
Gross operating margin
+€155,510
Staff costs
-€164,514
Depreciation
-€11,878
Other operating charges
-€938
Other operating items
+€10,985
Financial income
-€7
Financial charges
+€205
Taxes
+€1,560
Result 2025
€6,602
Cash bridge derived
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.
From operations
+€255,653
Investment
-€140,657
Financing
-€100,299
Cash 2024
€122,985
From operations (derived)
+€255,653
Net result for the year
+€6,602
Depreciation
+€147,633
Stocks and contracts
-€5,333
Receivables within one year
-€55,698
Deferred charges and accrued income
-€2,578
Trade debts
+€122,935
Tax, wage and social debts
+€38,492
Other debts
+€2,400
Accrued charges and deferred income
+€1,200
Investment (derived)
-€140,657
Investment in fixed assets (net)
-€140,657
Financing
-€100,299
Debts after one year
-€112,698
Current portion of long-term debt
+€18,312
Short-term financial debts
-€5,913
Cash 2025
€137,682
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,631,766 | €1,703,095 | +€71,330 | +4.4% |
| Fixed assets | 21/28 | €1,323,410 | €1,316,434 | -€6,975 | -0.5% |
| Tangible fixed assets | 22/27 | €1,323,410 | €1,316,434 | -€6,975 | -0.5% |
| Land and buildings | 22 | €446,082 | €431,707 | -€14,375 | -3.2% |
| Plant, machinery and equipment | 23 | €19,032 | €18,166 | -€867 | -4.6% |
| Furniture and vehicles | 24 | €43,569 | €35,940 | -€7,629 | -17.5% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €814,726 | €830,621 | +€15,895 | +2.0% |
| Current assets | 29/58 | €308,356 | €386,661 | +€78,305 | +25.4% |
| Stocks and contracts in progress | 3 | €17,976 | €23,309 | +€5,333 | +29.7% |
| Stocks | 30/36 | €17,976 | €23,309 | +€5,333 | +29.7% |
| Amounts receivable within one year | 40/41 | €161,599 | €217,297 | +€55,698 | +34.5% |
| Trade receivables | 40 | €96,304 | €139,941 | +€43,637 | +45.3% |
| Other amounts receivable | 41 | €65,295 | €77,355 | +€12,061 | +18.5% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,985 | €137,682 | +€14,696 | +11.9% |
| Deferred charges and accrued income | 490/1 | €795 | €3,374 | +€2,578 | +324.1% |
| Total equity and liabilities | 10/49 | €1,631,766 | €1,703,095 | +€71,330 | +4.4% |
| Equity | 10/15 | €541,643 | €548,245 | +€6,602 | +1.2% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €8,078 | €8,078 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €8,078 | €8,078 | = | 0.0% |
| Profit (loss) carried forward | 14 | €418,565 | €425,168 | +€6,602 | +1.6% |
| Amounts payable | 17/49 | €1,090,123 | €1,154,850 | +€64,727 | +5.9% |
| Amounts payable after more than one year | 17 | €750,121 | €637,423 | -€112,698 | -15.0% |
| Financial debts | 170/4 | €750,121 | €637,423 | -€112,698 | -15.0% |
| Amounts payable within one year | 42/48 | €340,002 | €516,228 | +€176,226 | +51.8% |
| Current portion of amounts payable after more than one year | 42 | €145,077 | €163,389 | +€18,312 | +12.6% |
| Financial debts | 43 | €8,906 | €2,993 | -€5,913 | -66.4% |
| Credit institutions | 430/8 | €8,906 | €2,993 | -€5,913 | -66.4% |
| Trade debts | 44 | €132,263 | €255,198 | +€122,935 | +92.9% |
| Suppliers | 440/4 | €132,263 | €255,198 | +€122,935 | +92.9% |
| Taxes, remuneration and social security | 45 | €53,756 | €92,247 | +€38,492 | +71.6% |
| Taxes | 450/3 | €3,853 | €15,078 | +€11,225 | +291.4% |
| Remuneration and social security | 454/9 | €49,903 | €77,169 | +€27,266 | +54.6% |
| Other amounts payable | 47/48 | - | €2,400 | +€2,400 | |
| Accrued charges and deferred income | 492/3 | - | €1,200 | +€1,200 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €483,384 | €647,898 | +€164,514 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,755 | €147,633 | +€11,878 | +8.7% |
| Other operating charges | 640/8 | €3,569 | €4,507 | +€938 | +26.3% |
| Non-recurring operating charges | 66A | €10,985 | €0 | -€10,985 | -100.0% |
| Gross operating margin | 9900 | €687,252 | €842,762 | +€155,510 | +22.6% |
| Operating profit (loss) | 9901 | €53,560 | €42,725 | -€10,835 | -20.2% |
| Financial income | 75/76B | €63 | €56 | -€7 | -11.3% |
| Recurring financial income | 75 | €63 | €56 | -€7 | -11.3% |
| Financial charges | 65/66B | €29,840 | €29,635 | -€205 | -0.7% |
| Recurring financial charges | 65 | €29,840 | €29,635 | -€205 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €23,782 | €13,145 | -€10,637 | -44.7% |
| Income taxes | 67/77 | €8,103 | €6,543 | -€1,560 | -19.3% |
| Profit (loss) for the period | 9904 | €15,679 | €6,602 | -€9,077 | -57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,679 | €6,602 | -€9,077 | -57.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.