MSKTN: 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.
MSKTN
Largest movements
- Receivables within one year +€115,837
up €115,837 (+357%), from €32,446 to €148,282
of which Trade receivables: +€120,455
- Cash -€48,436
down €48,436 (-64.0%), from €75,711 to €27,274
mainly Receivables within one year (-€115,837) and Stocks and contracts (-€7,383)
- Stocks and contracts +€7,383
up €7,383 (+10.7%), from €68,923 to €76,306
- Profit (loss) carried forward +€49,537
up €49,537, from -€2,926 to €46,611
- Tax, wage and social debts +€13,929
new in 2025: €13,929
- Trade debts +€10,062
up €10,062 (+16.6%), from €60,680 to €70,741
- Gross operating margin +€72,094
up €72,094, from -€1,751 to €70,343
- Taxes +€18,413
new in 2025: €18,413
- Financial income -€2,965
no longer reported in 2025 (was €2,965)
- Other operating charges -€976
down €976 (-87.0%), from €1,122 to €146
- Financial charges -€871
down €871 (-32.3%), from €2,693 to €1,822
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 | €179,974 | €253,234 | +€73,259 | +40.7% |
| Fixed assets | 21/28 | €1,795 | €1,371 | -€424 | -23.6% |
| Tangible fixed assets | 22/27 | €1,795 | €1,371 | -€424 | -23.6% |
| Furniture and vehicles | 24 | €1,795 | €1,371 | -€424 | -23.6% |
| Current assets | 29/58 | €178,180 | €251,863 | +€73,683 | +41.4% |
| Stocks and contracts in progress | 3 | €68,923 | €76,306 | +€7,383 | +10.7% |
| Stocks | 30/36 | €68,923 | €76,306 | +€7,383 | +10.7% |
| Amounts receivable within one year | 40/41 | €32,446 | €148,282 | +€115,837 | +357% |
| Trade receivables | 40 | €27,828 | €148,282 | +€120,455 | +433% |
| Other amounts receivable | 41 | €4,618 | - | -€4,618 | |
| Cash at bank and in hand | 54/58 | €75,711 | €27,274 | -€48,436 | -64.0% |
| Deferred charges and accrued income | 490/1 | €1,100 | - | -€1,100 | |
| Total equity and liabilities | 10/49 | €179,974 | €253,234 | +€73,259 | +40.7% |
| Equity | 10/15 | €22,074 | €71,611 | +€49,537 | +224% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,926 | €46,611 | +€49,537 | |
| Amounts payable | 17/49 | €157,900 | €181,622 | +€23,722 | +15.0% |
| Amounts payable within one year | 42/48 | €157,900 | €181,622 | +€23,722 | +15.0% |
| Trade debts | 44 | €60,680 | €70,741 | +€10,062 | +16.6% |
| Suppliers | 440/4 | €60,680 | €70,741 | +€10,062 | +16.6% |
| Taxes, remuneration and social security | 45 | - | €13,929 | +€13,929 | |
| Taxes | 450/3 | - | €13,929 | +€13,929 | |
| Other amounts payable | 47/48 | €97,221 | €96,952 | -€269 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325 | €424 | +€99 | +30.3% |
| Other operating charges | 640/8 | €1,122 | €146 | -€976 | -87.0% |
| Gross operating margin | 9900 | -€1,751 | €70,343 | +€72,094 | |
| Operating profit (loss) | 9901 | -€3,199 | €69,772 | +€72,971 | |
| Financial income | 75/76B | €2,965 | - | -€2,965 | |
| Recurring financial income | 75 | €2,965 | - | -€2,965 | |
| Financial charges | 65/66B | €2,693 | €1,822 | -€871 | -32.3% |
| Recurring financial charges | 65 | €2,693 | €1,822 | -€871 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,926 | €67,951 | +€70,877 | |
| Income taxes | 67/77 | - | €18,413 | +€18,413 | |
| Profit (loss) for the period | 9904 | -€2,926 | €49,537 | +€52,464 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,926 | €49,537 | +€52,464 |
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 18 October 2026 via checked.be.