MSDR PARTNERS: 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.
MSDR PARTNERS
Largest movements
- Receivables within one year +€8,421
new in 2025: €8,421
- Cash -€6,655
down €6,655 (-40.0%), from €16,644 to €9,989
mainly Net result for the year (-€9,155) and Receivables within one year (-€8,421)
- Tangible fixed assets -€2,733
down €2,733 (-22.6%), from €12,116 to €9,383
- Other debts +€9,429
up €9,429 (+4690.9%), from €201 to €9,630
- Profit (loss) carried forward -€9,154
down €9,154 (-22.4%), from €40,869 to €31,715
- Tax, wage and social debts -€1,357
down €1,357 (-11.7%), from €11,640 to €10,283
- Gross operating margin -€14,294
down €14,294 (-93.4%), from €15,304 to €1,010
- Taxes -€3,004
down €3,004 (-55.1%), from €5,451 to €2,447
- Other operating charges +€1,850
up €1,850 (+157.6%), from €1,174 to €3,024
- Financial income -€675
down €675 (-96.4%), from €700 to €25
- Depreciation +€337
up €337 (+14.1%), from €2,396 to €2,733
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 | €60,280 | €59,313 | -€967 | -1.6% |
| Fixed assets | 21/28 | €12,116 | €9,383 | -€2,733 | -22.6% |
| Tangible fixed assets | 22/27 | €12,116 | €9,383 | -€2,733 | -22.6% |
| Furniture and vehicles | 24 | €12,116 | €9,383 | -€2,733 | -22.6% |
| Current assets | 29/58 | €48,164 | €49,930 | +€1,766 | +3.7% |
| Amounts receivable after more than one year | 29 | €31,520 | €31,520 | = | 0.0% |
| Other amounts receivable | 291 | €31,520 | €31,520 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €8,421 | +€8,421 | |
| Trade receivables | 40 | - | €8,421 | +€8,421 | |
| Cash at bank and in hand | 54/58 | €16,644 | €9,989 | -€6,655 | -40.0% |
| Total equity and liabilities | 10/49 | €60,280 | €59,313 | -€967 | -1.6% |
| Equity | 10/15 | €43,369 | €34,215 | -€9,154 | -21.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,869 | €31,715 | -€9,154 | -22.4% |
| Amounts payable | 17/49 | €16,911 | €25,098 | +€8,187 | +48.4% |
| Amounts payable within one year | 42/48 | €16,911 | €25,098 | +€8,187 | +48.4% |
| Trade debts | 44 | €5,070 | €5,185 | +€115 | +2.3% |
| Suppliers | 440/4 | €5,070 | €5,185 | +€115 | +2.3% |
| Taxes, remuneration and social security | 45 | €11,640 | €10,283 | -€1,357 | -11.7% |
| Taxes | 450/3 | €11,640 | €10,283 | -€1,357 | -11.7% |
| Other amounts payable | 47/48 | €201 | €9,630 | +€9,429 | +4690.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,396 | €2,733 | +€337 | +14.1% |
| Other operating charges | 640/8 | €1,174 | €3,024 | +€1,850 | +157.6% |
| Gross operating margin | 9900 | €15,304 | €1,010 | -€14,294 | -93.4% |
| Operating profit (loss) | 9901 | €11,734 | -€4,747 | -€16,481 | |
| Financial income | 75/76B | €700 | €25 | -€675 | -96.4% |
| Recurring financial income | 75 | €700 | €25 | -€675 | -96.4% |
| Financial charges | 65/66B | €2,225 | €1,986 | -€239 | -10.8% |
| Recurring financial charges | 65 | €2,225 | €1,986 | -€239 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €10,209 | -€6,708 | -€16,917 | |
| Income taxes | 67/77 | €5,451 | €2,447 | -€3,004 | -55.1% |
| Profit (loss) for the period | 9904 | €4,758 | -€9,155 | -€13,913 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,758 | -€9,155 | -€13,913 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.