MSG Centre Santé: 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 Centre Santé
Largest movements
- Tangible fixed assets +€664,408
up €664,408 (+60.7%), from €1.1m to €1.8m
of which Land and buildings: +€593,082
- Receivables within one year -€239,210
down €239,210 (-85.6%), from €279,451 to €40,241
of which Trade receivables: -€249,291
- Cash -€49,244
down €49,244 (-89.9%), from €54,768 to €5,524
mainly Investment in fixed assets (net) (-€724,566) and Trade debts (-€228,906)
- Debts after one year +€632,533
up €632,533 (+56.0%), from €1.1m to €1.8m
- Trade debts -€228,906
down €228,906 (-87.1%), from €262,671 to €33,765
- Profit (loss) carried forward -€96,122
down €96,122 (-62.1%), from -€154,853 to -€250,975
- Current portion of long-term debt +€63,905
up €63,905 (+253.1%), from €25,245 to €89,150
- Depreciation +€25,084
up €25,084 (+71.5%), from €35,074 to €60,158
- Gross operating margin -€21,908
down €21,908 (-52.2%), from €41,986 to €20,078
- Financial charges +€12,326
up €12,326 (+31.7%), from €38,874 to €51,200
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 | €1,430,417 | €1,806,758 | +€376,341 | +26.3% |
| Fixed assets | 21/28 | €1,095,228 | €1,759,636 | +€664,408 | +60.7% |
| Tangible fixed assets | 22/27 | €1,095,228 | €1,759,636 | +€664,408 | +60.7% |
| Land and buildings | 22 | €1,075,523 | €1,668,605 | +€593,082 | +55.1% |
| Plant, machinery and equipment | 23 | €11,485 | €26,925 | +€15,440 | +134.4% |
| Furniture and vehicles | 24 | €8,220 | €64,106 | +€55,886 | +679.8% |
| Current assets | 29/58 | €335,188 | €47,121 | -€288,067 | -85.9% |
| Amounts receivable within one year | 40/41 | €279,451 | €40,241 | -€239,210 | -85.6% |
| Trade receivables | 40 | €277,983 | €28,692 | -€249,291 | -89.7% |
| Other amounts receivable | 41 | €1,468 | €11,549 | +€10,081 | +686.5% |
| Cash at bank and in hand | 54/58 | €54,768 | €5,524 | -€49,244 | -89.9% |
| Deferred charges and accrued income | 490/1 | €969 | €1,356 | +€387 | +40.0% |
| Total equity and liabilities | 10/49 | €1,430,417 | €1,806,758 | +€376,341 | +26.3% |
| Equity | 10/15 | €7,967 | -€88,155 | -€96,122 | |
| Contributions | 10/11 | €162,820 | €162,820 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,853 | -€250,975 | -€96,122 | -62.1% |
| Amounts payable | 17/49 | €1,422,450 | €1,894,913 | +€472,463 | +33.2% |
| Amounts payable after more than one year | 17 | €1,129,047 | €1,761,580 | +€632,533 | +56.0% |
| Financial debts | 170/4 | €1,129,047 | €1,761,580 | +€632,533 | +56.0% |
| Amounts payable within one year | 42/48 | €290,362 | €130,708 | -€159,654 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | €25,245 | €89,150 | +€63,905 | +253.1% |
| Trade debts | 44 | €262,671 | €33,765 | -€228,906 | -87.1% |
| Suppliers | 440/4 | €262,671 | €33,765 | -€228,906 | -87.1% |
| Taxes, remuneration and social security | 45 | €1,575 | €5,881 | +€4,306 | +273.4% |
| Taxes | 450/3 | €1,575 | €5,881 | +€4,306 | +273.4% |
| Other amounts payable | 47/48 | €871 | €1,911 | +€1,040 | +119.4% |
| Accrued charges and deferred income | 492/3 | €3,041 | €2,625 | -€416 | -13.7% |
| Non-recurring operating income | 76A | - | €97 | +€97 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,074 | €60,158 | +€25,084 | +71.5% |
| Other operating charges | 640/8 | €4,482 | €4,853 | +€371 | +8.3% |
| Gross operating margin | 9900 | €41,986 | €20,078 | -€21,908 | -52.2% |
| Operating profit (loss) | 9901 | €2,431 | -€44,932 | -€47,363 | |
| Financial income | 75/76B | €0 | €11 | +€11 | +6775.0% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +6775.0% |
| Financial charges | 65/66B | €38,874 | €51,200 | +€12,326 | +31.7% |
| Recurring financial charges | 65 | €38,874 | €51,200 | +€12,326 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | -€36,443 | -€96,122 | -€59,679 | -163.8% |
| Profit (loss) for the period | 9904 | -€36,443 | -€96,122 | -€59,679 | -163.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,443 | -€96,122 | -€59,679 | -163.8% |
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.