MSI Construct: 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.
MSI Construct
Largest movements
- Cash +€8,386
up €8,386 (+82.8%), from €10,131 to €18,517
mainly Net result for the year (+€6,179) and Depreciation (+€1,237)
- Tangible fixed assets -€1,237
down €1,237 (-52.8%), from €2,340 to €1,103
of which Other tangible fixed assets: -€1,072
- Receivables within one year -€961
down €961 (-2.4%), from €39,904 to €38,944
of which Trade receivables: -€919
- Reserves +€4,772
new in 2024: €4,772
- Profit (loss) carried forward +€1,407
no longer reported in 2024 (was -€1,407)
- Taxes -€7,020
down €7,020 (-63.7%), from €11,024 to €4,005
- Gross operating margin -€3,070
down €3,070 (-20.3%), from €15,137 to €12,068
- Other operating charges +€282
up €282 (+149.7%), from €189 to €471
- Depreciation -€162
down €162 (-11.6%), from €1,398 to €1,237
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,875 | €59,064 | +€6,188 | +11.7% |
| Fixed assets | 21/28 | €2,840 | €1,603 | -€1,237 | -43.5% |
| Tangible fixed assets | 22/27 | €2,340 | €1,103 | -€1,237 | -52.8% |
| Plant, machinery and equipment | 23 | €279 | €238 | -€40 | -14.5% |
| Furniture and vehicles | 24 | €275 | €151 | -€125 | -45.3% |
| Other tangible fixed assets | 26 | €1,786 | €714 | -€1,072 | -60.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €50,036 | €57,460 | +€7,425 | +14.8% |
| Amounts receivable within one year | 40/41 | €39,904 | €38,944 | -€961 | -2.4% |
| Trade receivables | 40 | €39,524 | €38,606 | -€919 | -2.3% |
| Other amounts receivable | 41 | €380 | €338 | -€42 | -11.1% |
| Cash at bank and in hand | 54/58 | €10,131 | €18,517 | +€8,386 | +82.8% |
| Total equity and liabilities | 10/49 | €52,875 | €59,064 | +€6,188 | +11.7% |
| Equity | 10/15 | -€407 | €5,772 | +€6,179 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €4,772 | +€4,772 | |
| Distributable reserves | 133 | - | €4,772 | +€4,772 | |
| Profit (loss) carried forward | 14 | -€1,407 | - | +€1,407 | |
| Amounts payable | 17/49 | €53,282 | €53,292 | +€10 | 0.0% |
| Amounts payable within one year | 42/48 | €53,282 | €53,292 | +€10 | 0.0% |
| Taxes, remuneration and social security | 45 | €12,802 | €12,811 | +€10 | +0.1% |
| Taxes | 450/3 | €6,514 | €9,222 | +€2,707 | +41.6% |
| Remuneration and social security | 454/9 | €6,287 | €3,590 | -€2,698 | -42.9% |
| Other amounts payable | 47/48 | €40,481 | €40,481 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,398 | €1,237 | -€162 | -11.6% |
| Other operating charges | 640/8 | €189 | €471 | +€282 | +149.7% |
| Gross operating margin | 9900 | €15,137 | €12,068 | -€3,070 | -20.3% |
| Operating profit (loss) | 9901 | €13,550 | €10,360 | -€3,190 | -23.5% |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €270 | €177 | -€93 | -34.4% |
| Recurring financial charges | 65 | €270 | €177 | -€93 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €13,297 | €10,183 | -€3,114 | -23.4% |
| Income taxes | 67/77 | €11,024 | €4,005 | -€7,020 | -63.7% |
| Profit (loss) for the period | 9904 | €2,273 | €6,179 | +€3,906 | +171.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,273 | €6,179 | +€3,906 | +171.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.