MSI KINE: 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 KINE
Largest movements
- Receivables within one year -€5,751
down €5,751 (-40.1%), from €14,355 to €8,604
of which Other amounts receivable: -€8,532
- Cash -€3,220
down €3,220 (-21.7%), from €14,809 to €11,589
mainly Net result for the year (-€7,513) and Investment in fixed assets (net) (-€4,080)
- Deferred charges and accrued income +€1,066
new in 2025: €1,066
- Profit (loss) carried forward -€7,513
new in 2025: -€7,513
- Gross operating margin -€14,271
down €14,271 (-84.1%), from €16,965 to €2,693
- Financial charges +€2,254
up €2,254 (+82.5%), from €2,734 to €4,987
- Taxes -€2,095
down €2,095 (-73.7%), from €2,844 to €749
- Financial income -€949
down €949 (-65.7%), from €1,443 to €494
- Other operating charges +€733
up €733 (+189%), from €387 to €1,120
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 | €32,211 | €24,541 | -€7,670 | -23.8% |
| Fixed assets | 21/28 | €3,047 | €3,282 | +€235 | +7.7% |
| Tangible fixed assets | 22/27 | €3,047 | €3,282 | +€235 | +7.7% |
| Furniture and vehicles | 24 | €3,047 | €3,282 | +€235 | +7.7% |
| Current assets | 29/58 | €29,164 | €21,260 | -€7,905 | -27.1% |
| Amounts receivable within one year | 40/41 | €14,355 | €8,604 | -€5,751 | -40.1% |
| Trade receivables | 40 | €778 | €3,559 | +€2,781 | +358% |
| Other amounts receivable | 41 | €13,577 | €5,046 | -€8,532 | -62.8% |
| Cash at bank and in hand | 54/58 | €14,809 | €11,589 | -€3,220 | -21.7% |
| Deferred charges and accrued income | 490/1 | - | €1,066 | +€1,066 | |
| Total equity and liabilities | 10/49 | €32,211 | €24,541 | -€7,670 | -23.8% |
| Equity | 10/15 | €24,306 | €16,792 | -€7,513 | -30.9% |
| Reserves | 13 | €24,306 | €24,306 | = | 0.0% |
| Distributable reserves | 133 | €24,306 | €24,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,513 | -€7,513 | |
| Amounts payable | 17/49 | €7,905 | €7,749 | -€156 | -2.0% |
| Amounts payable within one year | 42/48 | €7,905 | €7,749 | -€156 | -2.0% |
| Taxes, remuneration and social security | 45 | €7,905 | €7,749 | -€156 | -2.0% |
| Taxes | 450/3 | €5,405 | €5,249 | -€156 | -2.9% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Non-recurring operating income | 76A | €27,613 | - | -€27,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,392 | €3,845 | +€452 | +13.3% |
| Other operating charges | 640/8 | €387 | €1,120 | +€733 | +189% |
| Gross operating margin | 9900 | €16,965 | €2,693 | -€14,271 | -84.1% |
| Operating profit (loss) | 9901 | €13,185 | -€2,271 | -€15,457 | |
| Financial income | 75/76B | €1,443 | €494 | -€949 | -65.7% |
| Recurring financial income | 75 | €1,443 | €494 | -€949 | -65.7% |
| Financial charges | 65/66B | €2,734 | €4,987 | +€2,254 | +82.5% |
| Recurring financial charges | 65 | €2,734 | €4,987 | +€2,254 | +82.5% |
| Profit (loss) for the period before taxes | 9903 | €11,895 | -€6,764 | -€18,659 | |
| Income taxes | 67/77 | €2,844 | €749 | -€2,095 | -73.7% |
| Profit (loss) for the period | 9904 | €9,051 | -€7,513 | -€16,565 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,051 | -€7,513 | -€16,565 |
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 17 October 2026 via checked.be.