MSJ Média: 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.
MSJ Média
Largest movements
- Receivables within one year +€49,745
up €49,745 (+338%), from €14,727 to €64,473
of which Trade receivables: +€51,153
- Tangible fixed assets -€18,638
down €18,638 (-23.6%), from €78,828 to €60,190
- Cash +€9,962
up €9,962 (+59.2%), from €16,842 to €26,804
mainly Net result for the year (+€76,490) and Depreciation (+€54,782)
- Intangible fixed assets -€4,808
down €4,808 (-47.2%), from €10,176 to €5,368
- Profit (loss) carried forward +€76,490
up €76,490 (+60.3%), from -€126,921 to -€50,432
- Accrued charges and deferred income -€43,635
down €43,635 (-57.9%), from €75,420 to €31,785
- Debts after one year -€20,914
down €20,914 (-29.2%), from €71,722 to €50,809
- Trade debts +€20,791
up €20,791 (+48.2%), from €43,104 to €63,895
- Current portion of long-term debt +€6,573
up €6,573 (+19.6%), from €33,552 to €40,125
- Gross operating margin +€143,444
up €143,444 (+398%), from €36,029 to €179,473
- Staff costs -€9,469
down €9,469 (-17.9%), from €52,882 to €43,413
- Depreciation +€6,596
up €6,596 (+13.7%), from €48,186 to €54,782
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 | €126,726 | €161,894 | +€35,169 | +27.8% |
| Fixed assets | 21/28 | €89,367 | €65,921 | -€23,446 | -26.2% |
| Intangible fixed assets | 21 | €10,176 | €5,368 | -€4,808 | -47.2% |
| Tangible fixed assets | 22/27 | €78,828 | €60,190 | -€18,638 | -23.6% |
| Furniture and vehicles | 24 | €78,828 | €60,190 | -€18,638 | -23.6% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €37,359 | €95,974 | +€58,615 | +157% |
| Amounts receivable within one year | 40/41 | €14,727 | €64,473 | +€49,745 | +338% |
| Trade receivables | 40 | €11,406 | €62,559 | +€51,153 | +448% |
| Other amounts receivable | 41 | €3,322 | €1,914 | -€1,408 | -42.4% |
| Cash at bank and in hand | 54/58 | €16,842 | €26,804 | +€9,962 | +59.2% |
| Deferred charges and accrued income | 490/1 | €5,790 | €4,697 | -€1,093 | -18.9% |
| Total equity and liabilities | 10/49 | €126,726 | €161,894 | +€35,169 | +27.8% |
| Equity | 10/15 | -€106,921 | -€30,432 | +€76,490 | +71.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,921 | -€50,432 | +€76,490 | +60.3% |
| Amounts payable | 17/49 | €233,647 | €192,326 | -€41,321 | -17.7% |
| Amounts payable after more than one year | 17 | €71,722 | €50,809 | -€20,914 | -29.2% |
| Financial debts | 170/4 | €71,722 | €50,809 | -€20,914 | -29.2% |
| Amounts payable within one year | 42/48 | €86,505 | €109,733 | +€23,228 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €33,552 | €40,125 | +€6,573 | +19.6% |
| Trade debts | 44 | €43,104 | €63,895 | +€20,791 | +48.2% |
| Suppliers | 440/4 | €43,104 | €63,895 | +€20,791 | +48.2% |
| Taxes, remuneration and social security | 45 | €9,849 | €5,713 | -€4,135 | -42.0% |
| Taxes | 450/3 | €2,787 | €5,713 | +€2,926 | +105% |
| Remuneration and social security | 454/9 | €7,061 | - | -€7,061 | |
| Accrued charges and deferred income | 492/3 | €75,420 | €31,785 | -€43,635 | -57.9% |
| Remuneration, social security and pensions | 62 | €52,882 | €43,413 | -€9,469 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,186 | €54,782 | +€6,596 | +13.7% |
| Other operating charges | 640/8 | €833 | €1,873 | +€1,039 | +125% |
| Gross operating margin | 9900 | €36,029 | €179,473 | +€143,444 | +398% |
| Operating profit (loss) | 9901 | -€65,872 | €79,405 | +€145,277 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,811 | €2,916 | +€104 | +3.7% |
| Recurring financial charges | 65 | €2,811 | €2,916 | +€104 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€68,683 | €76,490 | +€145,173 | |
| Profit (loss) for the period | 9904 | -€68,683 | €76,490 | +€145,173 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,683 | €76,490 | +€145,173 |
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 19 October 2026 via checked.be.