MSG Care: 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.
MSG Care
Largest movements
- Cash -€79,284
down €79,284 (-23.5%), from €337,585 to €258,302
mainly Contributions, distributions and other (-€200,000) and Tax, wage and social debts (-€122,321)
- Receivables within one year -€47,220
down €47,220 (-20.1%), from €235,171 to €187,951
of which Trade receivables: -€43,553
- Tax, wage and social debts -€122,321
down €122,321 (-44.4%), from €275,794 to €153,473
of which Remuneration and social security: -€122,688
- Reserves -€15,565
down €15,565 (-27.0%), from €57,556 to €41,991
- Trade debts +€7,688
up €7,688 (+17.8%), from €43,198 to €50,886
- Gross operating margin +€18,757
up €18,757 (+1.6%), from €1.2m to €1.2m
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 | €576,648 | €446,450 | -€130,198 | -22.6% |
| Fixed assets | 21/28 | €3,698 | - | -€3,698 | |
| Tangible fixed assets | 22/27 | €3,698 | - | -€3,698 | |
| Furniture and vehicles | 24 | €3,698 | - | -€3,698 | |
| Current assets | 29/58 | €572,950 | €446,450 | -€126,500 | -22.1% |
| Amounts receivable within one year | 40/41 | €235,171 | €187,951 | -€47,220 | -20.1% |
| Trade receivables | 40 | €220,766 | €177,212 | -€43,553 | -19.7% |
| Other amounts receivable | 41 | €14,406 | €10,739 | -€3,667 | -25.5% |
| Cash at bank and in hand | 54/58 | €337,585 | €258,302 | -€79,284 | -23.5% |
| Deferred charges and accrued income | 490/1 | €193 | €198 | +€4 | +2.3% |
| Total equity and liabilities | 10/49 | €576,648 | €446,450 | -€130,198 | -22.6% |
| Equity | 10/15 | €57,656 | €42,091 | -€15,565 | -27.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €57,556 | €41,991 | -€15,565 | -27.0% |
| Distributable reserves | 133 | €57,556 | €41,991 | -€15,565 | -27.0% |
| Amounts payable | 17/49 | €518,992 | €404,359 | -€114,633 | -22.1% |
| Amounts payable within one year | 42/48 | €518,992 | €404,359 | -€114,633 | -22.1% |
| Trade debts | 44 | €43,198 | €50,886 | +€7,688 | +17.8% |
| Suppliers | 440/4 | €43,198 | €50,886 | +€7,688 | +17.8% |
| Taxes, remuneration and social security | 45 | €275,794 | €153,473 | -€122,321 | -44.4% |
| Taxes | 450/3 | €98,676 | €99,043 | +€367 | +0.4% |
| Remuneration and social security | 454/9 | €177,118 | €54,430 | -€122,688 | -69.3% |
| Other amounts payable | 47/48 | €200,000 | €200,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €291 | +€291 | |
| Remuneration, social security and pensions | 62 | €919,945 | €921,200 | +€1,256 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,769 | - | -€1,769 | |
| Other operating charges | 640/8 | €524 | €713 | +€189 | +36.1% |
| Non-recurring operating charges | 66A | €239 | €2,872 | +€2,633 | +1100.6% |
| Gross operating margin | 9900 | €1,159,723 | €1,178,480 | +€18,757 | +1.6% |
| Operating profit (loss) | 9901 | €237,246 | €253,695 | +€16,449 | +6.9% |
| Financial income | 75/76B | €216 | €153 | -€64 | -29.4% |
| Recurring financial income | 75 | €216 | €153 | -€64 | -29.4% |
| Financial charges | 65/66B | €848 | €151 | -€697 | -82.2% |
| Recurring financial charges | 65 | €848 | €151 | -€697 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | €236,615 | €253,697 | +€17,082 | +7.2% |
| Income taxes | 67/77 | €64,913 | €69,261 | +€4,348 | +6.7% |
| Profit (loss) for the period | 9904 | €171,701 | €184,435 | +€12,734 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €171,701 | €184,435 | +€12,734 | +7.4% |
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 4 October 2026 via checked.be.