MSC Services: 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.
MSC Services
Largest movements
- Receivables within one year +€93,186
up €93,186 (+236.9%), from €39,336 to €132,522
of which Trade receivables: +€91,631
- Tangible fixed assets -€41,401
down €41,401 (-24.0%), from €172,160 to €130,759
of which Furniture and vehicles: -€40,961
- Cash -€21,292
down €21,292 (-34.1%), from €62,406 to €41,115
mainly Receivables within one year (-€93,186) and Debts after one year (-€50,967)
- Financial fixed assets +€17,500
up €17,500 (+291.7%), from €6,000 to €23,500
- Deferred charges and accrued income +€12,067
new in 2025: €12,067
- Debts after one year -€50,967
down €50,967 (-35.1%), from €145,045 to €94,078
- Other debts +€45,200
up €45,200 (+154.8%), from €29,208 to €74,408
- Trade debts +€40,838
up €40,838 (+334.7%), from €12,202 to €53,041
- Profit (loss) carried forward +€23,212
up €23,212 (+187.5%), from €12,377 to €35,589
- Gross operating margin +€161,625
up €161,625 (+116.8%), from €138,437 to €300,061
- Staff costs +€135,298
up €135,298 (+184.5%), from €73,319 to €208,617
- Taxes +€6,018
up €6,018 (+304.8%), from €1,974 to €7,991
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,903 | €339,963 | +€60,060 | +21.5% |
| Fixed assets | 21/28 | €178,160 | €154,259 | -€23,901 | -13.4% |
| Tangible fixed assets | 22/27 | €172,160 | €130,759 | -€41,401 | -24.0% |
| Plant, machinery and equipment | 23 | €1,760 | €1,320 | -€440 | -25.0% |
| Furniture and vehicles | 24 | €170,400 | €129,439 | -€40,961 | -24.0% |
| Financial fixed assets | 28 | €6,000 | €23,500 | +€17,500 | +291.7% |
| Current assets | 29/58 | €101,743 | €185,705 | +€83,962 | +82.5% |
| Amounts receivable within one year | 40/41 | €39,336 | €132,522 | +€93,186 | +236.9% |
| Trade receivables | 40 | €35,890 | €127,521 | +€91,631 | +255.3% |
| Other amounts receivable | 41 | €3,447 | €5,001 | +€1,555 | +45.1% |
| Cash at bank and in hand | 54/58 | €62,406 | €41,115 | -€21,292 | -34.1% |
| Deferred charges and accrued income | 490/1 | - | €12,067 | +€12,067 | |
| Total equity and liabilities | 10/49 | €279,903 | €339,963 | +€60,060 | +21.5% |
| Equity | 10/15 | €15,977 | €39,189 | +€23,212 | +145.3% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,377 | €35,589 | +€23,212 | +187.5% |
| Amounts payable | 17/49 | €263,926 | €300,774 | +€36,848 | +14.0% |
| Amounts payable after more than one year | 17 | €145,045 | €94,078 | -€50,967 | -35.1% |
| Financial debts | 170/4 | €145,045 | €94,078 | -€50,967 | -35.1% |
| Amounts payable within one year | 42/48 | €118,880 | €206,695 | +€87,815 | +73.9% |
| Current portion of amounts payable after more than one year | 42 | €47,217 | €49,967 | +€2,750 | +5.8% |
| Trade debts | 44 | €12,202 | €53,041 | +€40,838 | +334.7% |
| Suppliers | 440/4 | €12,202 | €53,041 | +€40,838 | +334.7% |
| Taxes, remuneration and social security | 45 | €30,254 | €29,280 | -€974 | -3.2% |
| Taxes | 450/3 | €24,417 | €10,351 | -€14,066 | -57.6% |
| Remuneration and social security | 454/9 | €5,837 | €18,929 | +€13,092 | +224.3% |
| Other amounts payable | 47/48 | €29,208 | €74,408 | +€45,200 | +154.8% |
| Remuneration, social security and pensions | 62 | €73,319 | €208,617 | +€135,298 | +184.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,040 | €43,736 | +€696 | +1.6% |
| Other operating charges | 640/8 | €4,682 | €3,360 | -€1,322 | -28.2% |
| Gross operating margin | 9900 | €138,437 | €300,061 | +€161,625 | +116.8% |
| Operating profit (loss) | 9901 | €17,396 | €44,348 | +€26,952 | +154.9% |
| Financial income | 75/76B | €3 | €4 | +€1 | +34.7% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +34.7% |
| Financial charges | 65/66B | €10,320 | €13,149 | +€2,829 | +27.4% |
| Recurring financial charges | 65 | €10,320 | €13,149 | +€2,829 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €7,079 | €31,204 | +€24,124 | +340.8% |
| Income taxes | 67/77 | €1,974 | €7,991 | +€6,018 | +304.8% |
| Profit (loss) for the period | 9904 | €5,105 | €23,212 | +€18,107 | +354.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,105 | €23,212 | +€18,107 | +354.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.