MSG Dental Care: what changed
Two financial 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 Dental Care
Largest movements
- Cash +€37,566
up €37,566 (+37.3%), from €100,792 to €138,357
mainly Net result for the year (+€72,137) and Depreciation (+€38,354)
- Receivables within one year +€9,578
up €9,578 (+10.5%), from €91,494 to €101,071
of which Other amounts receivable: +€9,779
- Other debts +€35,344
up €35,344 (+481%), from €7,355 to €42,699
- Debts after one year -€21,397
down €21,397 (-9.0%), from €238,225 to €216,828
- Reserves +€16,835
up €16,835 (+8.2%), from €206,244 to €223,079
of which Distributable reserves: +€16,835
- Tax, wage and social debts +€12,644
up €12,644 (+36.7%), from €34,483 to €47,127
of which Taxes: +€12,335
- Gross operating margin +€37,196
up €37,196 (+20.4%), from €182,710 to €219,906
- Taxes +€8,999
up €8,999 (+44.5%), from €20,221 to €29,220
- Depreciation +€2,812
up €2,812 (+7.9%), from €35,541 to €38,354
- Staff costs +€2,439
up €2,439 (+3.6%), from €67,658 to €70,096
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.
Derived cash bridge
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 | €582,415 | €627,885 | +€45,470 | +7.8% |
| Formation expenses | 20 | €1,252 | €626 | -€626 | -50.0% |
| Fixed assets | 21/28 | €381,000 | €377,142 | -€3,858 | -1.0% |
| Intangible fixed assets | 21 | €20,239 | €16,191 | -€4,048 | -20.0% |
| Tangible fixed assets | 22/27 | €359,846 | €360,036 | +€190 | +0.1% |
| Land and buildings | 22 | €256,865 | €248,516 | -€8,349 | -3.3% |
| Plant, machinery and equipment | 23 | €78,986 | €84,415 | +€5,429 | +6.9% |
| Furniture and vehicles | 24 | €23,995 | €27,105 | +€3,110 | +13.0% |
| Financial fixed assets | 28 | €915 | €915 | = | 0.0% |
| Current assets | 29/58 | €200,163 | €250,117 | +€49,954 | +25.0% |
| Amounts receivable within one year | 40/41 | €91,494 | €101,071 | +€9,578 | +10.5% |
| Trade receivables | 40 | €994 | €792 | -€201 | -20.3% |
| Other amounts receivable | 41 | €90,500 | €100,279 | +€9,779 | +10.8% |
| Cash at bank and in hand | 54/58 | €100,792 | €138,357 | +€37,566 | +37.3% |
| Deferred charges and accrued income | 490/1 | €7,878 | €10,688 | +€2,811 | +35.7% |
| Total equity and liabilities | 10/49 | €582,415 | €627,885 | +€45,470 | +7.8% |
| Equity | 10/15 | €231,811 | €248,645 | +€16,835 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,244 | €223,079 | +€16,835 | +8.2% |
| Non-distributable reserves | 130/1 | €1,354 | €1,354 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,354 | €1,354 | = | 0.0% |
| Distributable reserves | 133 | €204,890 | €221,725 | +€16,835 | +8.2% |
| Profit (loss) carried forward | 14 | €6,966 | €6,966 | = | 0.0% |
| Amounts payable | 17/49 | €350,604 | €379,240 | +€28,636 | +8.2% |
| Amounts payable after more than one year | 17 | €238,225 | €216,828 | -€21,397 | -9.0% |
| Financial debts | 170/4 | €238,225 | €216,828 | -€21,397 | -9.0% |
| Amounts payable within one year | 42/48 | €112,380 | €162,412 | +€50,032 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €32,019 | €34,240 | +€2,221 | +6.9% |
| Trade debts | 44 | €38,523 | €38,346 | -€177 | -0.5% |
| Suppliers | 440/4 | €38,523 | €38,346 | -€177 | -0.5% |
| Taxes, remuneration and social security | 45 | €34,483 | €47,127 | +€12,644 | +36.7% |
| Taxes | 450/3 | €20,221 | €32,556 | +€12,335 | +61.0% |
| Remuneration and social security | 454/9 | €14,262 | €14,571 | +€309 | +2.2% |
| Other amounts payable | 47/48 | €7,355 | €42,699 | +€35,344 | +481% |
| Remuneration, social security and pensions | 62 | €67,658 | €70,096 | +€2,439 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,541 | €38,354 | +€2,812 | +7.9% |
| Other operating charges | 640/8 | €2,184 | €3,896 | +€1,712 | +78.4% |
| Gross operating margin | 9900 | €182,710 | €219,906 | +€37,196 | +20.4% |
| Operating profit (loss) | 9901 | €77,327 | €107,560 | +€30,233 | +39.1% |
| Financial income | 75/76B | €1,320 | €1,841 | +€521 | +39.4% |
| Recurring financial income | 75 | €1,320 | €1,841 | +€521 | +39.4% |
| Financial charges | 65/66B | €7,795 | €8,043 | +€249 | +3.2% |
| Recurring financial charges | 65 | €7,795 | €8,043 | +€249 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €70,853 | €101,357 | +€30,505 | +43.1% |
| Income taxes | 67/77 | €20,221 | €29,220 | +€8,999 | +44.5% |
| Profit (loss) for the period | 9904 | €50,632 | €72,137 | +€21,505 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,632 | €72,137 | +€21,505 | +42.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.