MSI SERVICES: 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 SERVICES
Largest movements
- Tangible fixed assets -€197,848
down €197,848 (-10.9%), from €1.8m to €1.6m
- Cash -€74,937
down €74,937 (-51.2%), from €146,229 to €71,293
mainly Debts after one year (-€135,653) and Investment in fixed assets (net) (-€64,016)
- Receivables within one year +€57,160
up €57,160 (+4.1%), from €1.4m to €1.5m
of which Other amounts receivable: +€36,761
- Debts after one year -€135,653
down €135,653 (-11.6%), from €1.2m to €1.0m
- Profit (loss) carried forward -€46,733
down €46,733 (-26.2%), from €178,207 to €131,473
- Other debts -€37,458
down €37,458 (-84.9%), from €44,110 to €6,652
- Financial charges +€46,599
up €46,599 (+218.9%), from €21,289 to €67,888
- Gross operating margin -€36,651
down €36,651 (-3.0%), from €1.2m to €1.2m
- Taxes -€35,026
down €35,026 (-99.8%), from €35,106 to €80
- Staff costs +€33,285
up €33,285 (+4.0%), from €834,468 to €867,753
- Other operating charges +€27,126
up €27,126 (+125.4%), from €21,631 to €48,758
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 | €3,442,732 | €3,241,420 | -€201,312 | -5.8% |
| Fixed assets | 21/28 | €1,821,873 | €1,625,275 | -€196,598 | -10.8% |
| Tangible fixed assets | 22/27 | €1,820,873 | €1,623,025 | -€197,848 | -10.9% |
| Land and buildings | 22 | €305,487 | €264,916 | -€40,570 | -13.3% |
| Plant, machinery and equipment | 23 | €671,566 | €580,736 | -€90,830 | -13.5% |
| Furniture and vehicles | 24 | €23,439 | €53,491 | +€30,052 | +128.2% |
| Leasing and similar rights | 25 | €820,382 | €723,882 | -€96,500 | -11.8% |
| Financial fixed assets | 28 | €1,000 | €2,250 | +€1,250 | +125.0% |
| Current assets | 29/58 | €1,620,858 | €1,616,145 | -€4,714 | -0.3% |
| Amounts receivable within one year | 40/41 | €1,395,609 | €1,452,770 | +€57,160 | +4.1% |
| Trade receivables | 40 | €549,225 | €569,624 | +€20,399 | +3.7% |
| Other amounts receivable | 41 | €846,385 | €883,146 | +€36,761 | +4.3% |
| Cash at bank and in hand | 54/58 | €146,229 | €71,293 | -€74,937 | -51.2% |
| Deferred charges and accrued income | 490/1 | €79,020 | €92,082 | +€13,063 | +16.5% |
| Total equity and liabilities | 10/49 | €3,442,732 | €3,241,420 | -€201,312 | -5.8% |
| Equity | 10/15 | €1,678,307 | €1,631,573 | -€46,733 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,481,500 | €1,481,500 | = | 0.0% |
| Distributable reserves | 133 | €1,481,500 | €1,481,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,207 | €131,473 | -€46,733 | -26.2% |
| Amounts payable | 17/49 | €1,764,425 | €1,609,846 | -€154,579 | -8.8% |
| Amounts payable after more than one year | 17 | €1,164,652 | €1,028,999 | -€135,653 | -11.6% |
| Financial debts | 170/4 | €1,164,652 | €1,028,999 | -€135,653 | -11.6% |
| Amounts payable within one year | 42/48 | €583,276 | €580,847 | -€2,429 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €154,815 | €169,396 | +€14,581 | +9.4% |
| Financial debts | 43 | €736 | €766 | +€30 | +4.1% |
| Credit institutions | 430/8 | €736 | €766 | +€30 | +4.1% |
| Trade debts | 44 | €215,285 | €230,912 | +€15,627 | +7.3% |
| Suppliers | 440/4 | €215,285 | €230,912 | +€15,627 | +7.3% |
| Taxes, remuneration and social security | 45 | €168,331 | €173,121 | +€4,791 | +2.8% |
| Taxes | 450/3 | €55,967 | €19,348 | -€36,620 | -65.4% |
| Remuneration and social security | 454/9 | €112,363 | €153,774 | +€41,410 | +36.9% |
| Other amounts payable | 47/48 | €44,110 | €6,652 | -€37,458 | -84.9% |
| Accrued charges and deferred income | 492/3 | €16,497 | €0 | -€16,497 | -100.0% |
| Non-recurring operating income | 76A | €500 | €563 | +€63 | +12.6% |
| Remuneration, social security and pensions | 62 | €834,468 | €867,753 | +€33,285 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263,329 | €260,614 | -€2,716 | -1.0% |
| Other operating charges | 640/8 | €21,631 | €48,758 | +€27,126 | +125.4% |
| Gross operating margin | 9900 | €1,218,113 | €1,181,462 | -€36,651 | -3.0% |
| Operating profit (loss) | 9901 | €98,685 | €4,338 | -€94,346 | -95.6% |
| Financial income | 75/76B | €16,088 | €16,897 | +€809 | +5.0% |
| Recurring financial income | 75 | €16,088 | €16,897 | +€809 | +5.0% |
| Financial charges | 65/66B | €21,289 | €67,888 | +€46,599 | +218.9% |
| Recurring financial charges | 65 | €21,289 | €67,888 | +€46,599 | +218.9% |
| Profit (loss) for the period before taxes | 9903 | €93,484 | -€46,653 | -€140,137 | |
| Income taxes | 67/77 | €35,106 | €80 | -€35,026 | -99.8% |
| Profit (loss) for the period | 9904 | €58,377 | -€46,733 | -€105,110 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,377 | -€46,733 | -€105,110 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.