MSJ Projects: 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 Projects
Largest movements
- Receivables within one year +€26,395
up €26,395 (+104.0%), from €25,378 to €51,773
- Intangible fixed assets -€7,100
down €7,100 (-12.5%), from €56,800 to €49,700
- Cash +€1,699
up €1,699 (+2742.3%), from €62 to €1,761
mainly Net result for the year (+€17,784) and Depreciation (+€7,759)
- Profit (loss) carried forward +€17,784
up €17,784 (+261.4%), from €6,804 to €24,589
- Debts after one year -€9,404
down €9,404 (-16.6%), from €56,486 to €47,082
- Current portion of long-term debt +€6,169
up €6,169 (+179.8%), from €3,431 to €9,600
- Tax, wage and social debts +€3,693
up €3,693 (+28.4%), from €12,985 to €16,679
of which Taxes: +€7,531
- Trade debts +€2,092
up €2,092, from €0 to €2,092
- Gross operating margin +€8,770
up €8,770 (+47.7%), from €18,371 to €27,140
- Taxes -€2,400
down €2,400 (-80.0%), from €3,000 to €600
- Other operating charges -€831
down €831 (-77.4%), from €1,074 to €243
- Staff costs +€346
up €346 (+171.6%), from €202 to €548
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,707 | €108,042 | +€20,335 | +23.2% |
| Fixed assets | 21/28 | €60,156 | €52,397 | -€7,759 | -12.9% |
| Intangible fixed assets | 21 | €56,800 | €49,700 | -€7,100 | -12.5% |
| Tangible fixed assets | 22/27 | €3,356 | €2,697 | -€659 | -19.6% |
| Furniture and vehicles | 24 | €3,356 | €2,697 | -€659 | -19.6% |
| Current assets | 29/58 | €27,551 | €55,645 | +€28,094 | +102.0% |
| Stocks and contracts in progress | 3 | €2,111 | €2,111 | = | 0.0% |
| Stocks | 30/36 | €2,111 | €2,111 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,378 | €51,773 | +€26,395 | +104.0% |
| Other amounts receivable | 41 | €25,378 | €51,773 | +€26,395 | +104.0% |
| Cash at bank and in hand | 54/58 | €62 | €1,761 | +€1,699 | +2742.3% |
| Total equity and liabilities | 10/49 | €87,707 | €108,042 | +€20,335 | +23.2% |
| Equity | 10/15 | €14,804 | €32,589 | +€17,784 | +120.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,804 | €24,589 | +€17,784 | +261.4% |
| Amounts payable | 17/49 | €72,903 | €75,453 | +€2,550 | +3.5% |
| Amounts payable after more than one year | 17 | €56,486 | €47,082 | -€9,404 | -16.6% |
| Financial debts | 170/4 | €56,486 | €47,082 | -€9,404 | -16.6% |
| Amounts payable within one year | 42/48 | €16,416 | €28,371 | +€11,954 | +72.8% |
| Current portion of amounts payable after more than one year | 42 | €3,431 | €9,600 | +€6,169 | +179.8% |
| Trade debts | 44 | €0 | €2,092 | +€2,092 | |
| Suppliers | 440/4 | €0 | €2,092 | +€2,092 | |
| Taxes, remuneration and social security | 45 | €12,985 | €16,679 | +€3,693 | +28.4% |
| Taxes | 450/3 | €9,148 | €16,679 | +€7,531 | +82.3% |
| Remuneration and social security | 454/9 | €3,837 | €0 | -€3,837 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €202 | €548 | +€346 | +171.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,659 | €7,759 | +€100 | +1.3% |
| Other operating charges | 640/8 | €1,074 | €243 | -€831 | -77.4% |
| Gross operating margin | 9900 | €18,371 | €27,140 | +€8,770 | +47.7% |
| Operating profit (loss) | 9901 | €9,436 | €18,590 | +€9,154 | +97.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €242 | €205 | -€37 | -15.3% |
| Recurring financial charges | 65 | €242 | €205 | -€37 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €9,195 | €18,384 | +€9,190 | +99.9% |
| Income taxes | 67/77 | €3,000 | €600 | -€2,400 | -80.0% |
| Profit (loss) for the period | 9904 | €6,195 | €17,784 | +€11,590 | +187.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,195 | €17,784 | +€11,590 | +187.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.