MSI-DFAT EU: 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.
MSI-DFAT EU
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+1,657%), from €61,008 to €1.1m
of which Trade receivables: +€980,252
- Stocks and contracts -€274,110
no longer reported in 2025 (was €274,110)
- Trade debts +€730,997
up €730,997 (+226%), from €323,103 to €1.1m
- Financial income +€44,077
new in 2025: €44,077
- Gross operating margin -€40,692
down €40,692, from €4,261 to -€36,431
- Taxes +€1,263
up €1,263 (+235%), from €537 to €1,800
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 | €337,867 | €1,078,139 | +€740,272 | +219% |
| Current assets | 29/58 | €337,867 | €1,078,139 | +€740,272 | +219% |
| Stocks and contracts in progress | 3 | €274,110 | - | -€274,110 | |
| Stocks | 30/36 | €274,110 | - | -€274,110 | |
| Amounts receivable within one year | 40/41 | €61,008 | €1,071,960 | +€1.0m | +1,657% |
| Trade receivables | 40 | - | €980,252 | +€980,252 | |
| Other amounts receivable | 41 | €61,008 | €91,708 | +€30,700 | +50.3% |
| Cash at bank and in hand | 54/58 | €2,749 | €6,179 | +€3,430 | +125% |
| Total equity and liabilities | 10/49 | €337,867 | €1,078,139 | +€740,272 | +219% |
| Equity | 10/15 | €3,609 | €9,104 | +€5,495 | +152% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,609 | €7,104 | +€5,495 | +342% |
| Amounts payable | 17/49 | €334,258 | €1,069,035 | +€734,777 | +220% |
| Amounts payable within one year | 42/48 | €334,258 | €1,069,035 | +€734,777 | +220% |
| Trade debts | 44 | €323,103 | €1,054,100 | +€730,997 | +226% |
| Suppliers | 440/4 | €323,103 | €1,054,100 | +€730,997 | +226% |
| Taxes, remuneration and social security | 45 | €537 | €2,337 | +€1,800 | +335% |
| Taxes | 450/3 | €537 | €2,337 | +€1,800 | +335% |
| Other amounts payable | 47/48 | €10,618 | €12,598 | +€1,980 | +18.6% |
| Gross operating margin | 9900 | €4,261 | -€36,431 | -€40,692 | |
| Operating profit (loss) | 9901 | €4,261 | -€36,431 | -€40,692 | |
| Financial income | 75/76B | - | €44,077 | +€44,077 | |
| Recurring financial income | 75 | - | €44,077 | +€44,077 | |
| Financial charges | 65/66B | €434 | €351 | -€83 | -19.1% |
| Recurring financial charges | 65 | €434 | €351 | -€83 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €3,827 | €7,295 | +€3,468 | +90.6% |
| Income taxes | 67/77 | €537 | €1,800 | +€1,263 | +235% |
| Profit (loss) for the period | 9904 | €3,290 | €5,495 | +€2,205 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,290 | €5,495 | +€2,205 | +67.0% |
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 16 October 2026 via checked.be.