MSG Consultancy: 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 Consultancy
Largest movements
- Tangible fixed assets -€12,347
down €12,347 (-47.5%), from €25,983 to €13,636
- Cash -€3,822
down €3,822 (-62.0%), from €6,165 to €2,343
mainly Net result for the year (-€14,741) and Receivables within one year (-€2,161)
- Receivables within one year +€2,161
up €2,161 (+133.5%), from €1,619 to €3,781
of which Trade receivables: +€2,960
- Profit (loss) carried forward -€14,741
down €14,741 (-33.9%), from -€43,439 to -€58,180
- Accrued charges and deferred income +€1,238
new in 2025: €1,238
- Other debts -€496
down €496 (-0.7%), from €73,464 to €72,968
- Gross operating margin +€9,894
up €9,894 (+88.3%), from -€11,203 to -€1,310
- Depreciation -€511
down €511 (-4.0%), from €12,858 to €12,347
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 | €34,532 | €20,526 | -€14,006 | -40.6% |
| Fixed assets | 21/28 | €25,983 | €13,636 | -€12,347 | -47.5% |
| Tangible fixed assets | 22/27 | €25,983 | €13,636 | -€12,347 | -47.5% |
| Furniture and vehicles | 24 | €25,983 | €13,636 | -€12,347 | -47.5% |
| Current assets | 29/58 | €8,549 | €6,890 | -€1,659 | -19.4% |
| Amounts receivable within one year | 40/41 | €1,619 | €3,781 | +€2,161 | +133.5% |
| Trade receivables | 40 | €812 | €3,772 | +€2,960 | +364.5% |
| Other amounts receivable | 41 | €807 | €8 | -€799 | -99.0% |
| Cash at bank and in hand | 54/58 | €6,165 | €2,343 | -€3,822 | -62.0% |
| Deferred charges and accrued income | 490/1 | €765 | €767 | +€2 | +0.2% |
| Total equity and liabilities | 10/49 | €34,532 | €20,526 | -€14,006 | -40.6% |
| Equity | 10/15 | -€39,179 | -€53,920 | -€14,741 | -37.6% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,439 | -€58,180 | -€14,741 | -33.9% |
| Amounts payable | 17/49 | €73,711 | €74,446 | +€735 | +1.0% |
| Amounts payable within one year | 42/48 | €73,711 | €73,209 | -€502 | -0.7% |
| Trade debts | 44 | €130 | €73 | -€58 | -44.2% |
| Suppliers | 440/4 | €130 | €73 | -€58 | -44.2% |
| Taxes, remuneration and social security | 45 | €117 | €168 | +€51 | +43.7% |
| Taxes | 450/3 | €117 | €168 | +€51 | +43.7% |
| Other amounts payable | 47/48 | €73,464 | €72,968 | -€496 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €1,238 | +€1,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,858 | €12,347 | -€511 | -4.0% |
| Other operating charges | 640/8 | €785 | €792 | +€7 | +0.9% |
| Gross operating margin | 9900 | -€11,203 | -€1,310 | +€9,894 | +88.3% |
| Operating profit (loss) | 9901 | -€24,846 | -€14,448 | +€10,398 | +41.8% |
| Financial income | 75/76B | €84 | €16 | -€67 | -80.4% |
| Recurring financial income | 75 | €84 | €16 | -€67 | -80.4% |
| Financial charges | 65/66B | €195 | €166 | -€29 | -14.7% |
| Recurring financial charges | 65 | €195 | €166 | -€29 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | -€24,957 | -€14,598 | +€10,359 | +41.5% |
| Income taxes | 67/77 | €142 | €143 | +€1 | +0.4% |
| Profit (loss) for the period | 9904 | -€25,100 | -€14,741 | +€10,359 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,100 | -€14,741 | +€10,359 | +41.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.