MSD MOSAN: 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.
MSD MOSAN
Largest movements
- Tangible fixed assets +€49,176
up €49,176 (+97.8%), from €50,307 to €99,482
of which Plant, machinery and equipment: +€56,300
- Cash -€6,394
down €6,394 (-5.3%), from €121,612 to €115,218
mainly Investment in fixed assets (net) (-€60,557) and Other debts (-€23,557)
- Profit (loss) carried forward +€56,005
up €56,005 (+41.8%), from €133,964 to €189,969
- Other debts -€23,557
down €23,557 (-84.9%), from €27,738 to €4,181
- Tax, wage and social debts +€8,114
up €8,114 (+41.8%), from €19,418 to €27,532
- Gross operating margin -€40,377
down €40,377 (-30.2%), from €133,691 to €93,314
- Depreciation -€8,981
down €8,981 (-44.1%), from €20,363 to €11,381
- Taxes +€5,498
up €5,498 (+29.7%), from €18,492 to €23,990
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 | €192,884 | €234,672 | +€41,789 | +21.7% |
| Fixed assets | 21/28 | €50,307 | €99,482 | +€49,176 | +97.8% |
| Tangible fixed assets | 22/27 | €50,307 | €99,482 | +€49,176 | +97.8% |
| Land and buildings | 22 | €19,263 | €16,825 | -€2,438 | -12.7% |
| Plant, machinery and equipment | 23 | - | €56,300 | +€56,300 | |
| Furniture and vehicles | 24 | €31,043 | €26,357 | -€4,686 | -15.1% |
| Current assets | 29/58 | €142,577 | €135,190 | -€7,387 | -5.2% |
| Amounts receivable within one year | 40/41 | €19,075 | €19,075 | = | 0.0% |
| Trade receivables | 40 | €19,075 | €19,075 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €121,612 | €115,218 | -€6,394 | -5.3% |
| Deferred charges and accrued income | 490/1 | €1,890 | €896 | -€993 | -52.6% |
| Total equity and liabilities | 10/49 | €192,884 | €234,672 | +€41,789 | +21.7% |
| Equity | 10/15 | €138,964 | €194,969 | +€56,005 | +40.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,964 | €189,969 | +€56,005 | +41.8% |
| Amounts payable | 17/49 | €53,920 | €39,703 | -€14,217 | -26.4% |
| Amounts payable within one year | 42/48 | €53,920 | €39,703 | -€14,217 | -26.4% |
| Trade debts | 44 | €6,763 | €7,990 | +€1,226 | +18.1% |
| Suppliers | 440/4 | €6,763 | €7,990 | +€1,226 | +18.1% |
| Taxes, remuneration and social security | 45 | €19,418 | €27,532 | +€8,114 | +41.8% |
| Taxes | 450/3 | €19,418 | €27,532 | +€8,114 | +41.8% |
| Other amounts payable | 47/48 | €27,738 | €4,181 | -€23,557 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,363 | €11,381 | -€8,981 | -44.1% |
| Other operating charges | 640/8 | €1,660 | €1,531 | -€128 | -7.7% |
| Non-recurring operating charges | 66A | €19,075 | €0 | -€19,075 | -100.0% |
| Gross operating margin | 9900 | €133,691 | €93,314 | -€40,377 | -30.2% |
| Operating profit (loss) | 9901 | €92,593 | €80,401 | -€12,192 | -13.2% |
| Financial income | 75/76B | €14 | €84 | +€70 | +509.3% |
| Recurring financial income | 75 | €14 | €84 | +€70 | +509.3% |
| Financial charges | 65/66B | €129 | €490 | +€360 | +278.4% |
| Recurring financial charges | 65 | €129 | €490 | +€360 | +278.4% |
| Profit (loss) for the period before taxes | 9903 | €92,477 | €79,995 | -€12,482 | -13.5% |
| Income taxes | 67/77 | €18,492 | €23,990 | +€5,498 | +29.7% |
| Profit (loss) for the period | 9904 | €73,986 | €56,005 | -€17,980 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,986 | €56,005 | -€17,980 | -24.3% |
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 5 October 2026 via checked.be.