MSL CONSEILS: 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.
MSL CONSEILS
Largest movements
- Tangible fixed assets -€12,870
down €12,870 (-7.2%), from €178,549 to €165,679
of which Land and buildings: -€12,647
- Receivables within one year +€7,506
up €7,506 (+52.6%), from €14,269 to €21,775
of which Trade receivables: +€5,458
- Debts after one year -€16,792
down €16,792 (-17.8%), from €94,220 to €77,428
of which Financial debts: -€16,792
- Trade debts +€15,138
up €15,138 (+626.2%), from €2,417 to €17,555
- Current portion of long-term debt -€3,558
down €3,558 (-17.5%), from €20,351 to €16,792
- Other debts +€3,268
up €3,268 (+18.6%), from €17,562 to €20,830
- Tax, wage and social debts -€3,122
down €3,122 (-43.1%), from €7,237 to €4,115
of which Taxes: -€3,122
- Gross operating margin -€16,875
down €16,875 (-45.3%), from €37,281 to €20,406
- Depreciation -€3,310
down €3,310 (-20.5%), from €16,180 to €12,870
- Financial charges -€3,287
down €3,287 (-57.3%), from €5,740 to €2,453
- Taxes -€2,674
down €2,674 (-68.6%), from €3,901 to €1,227
- Other operating charges -€1,303
down €1,303 (-29.5%), from €4,417 to €3,114
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 | €220,608 | €215,424 | -€5,184 | -2.3% |
| Fixed assets | 21/28 | €178,549 | €165,679 | -€12,870 | -7.2% |
| Tangible fixed assets | 22/27 | €178,549 | €165,679 | -€12,870 | -7.2% |
| Land and buildings | 22 | €178,326 | €165,679 | -€12,647 | -7.1% |
| Furniture and vehicles | 24 | €223 | €0 | -€223 | -100.0% |
| Current assets | 29/58 | €42,059 | €49,745 | +€7,686 | +18.3% |
| Amounts receivable within one year | 40/41 | €14,269 | €21,775 | +€7,506 | +52.6% |
| Trade receivables | 40 | €9,837 | €15,295 | +€5,458 | +55.5% |
| Other amounts receivable | 41 | €4,432 | €6,480 | +€2,048 | +46.2% |
| Cash at bank and in hand | 54/58 | €27,505 | €26,170 | -€1,336 | -4.9% |
| Deferred charges and accrued income | 490/1 | €284 | €1,800 | +€1,516 | +533.2% |
| Total equity and liabilities | 10/49 | €220,608 | €215,424 | -€5,184 | -2.3% |
| Equity | 10/15 | €76,550 | €77,428 | +€879 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €9,851 | €9,851 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,991 | €7,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,499 | €61,377 | +€879 | +1.5% |
| Amounts payable | 17/49 | €144,058 | €137,996 | -€6,062 | -4.2% |
| Amounts payable after more than one year | 17 | €94,220 | €77,428 | -€16,792 | -17.8% |
| Financial debts | 170/4 | €91,925 | €75,132 | -€16,792 | -18.3% |
| Other amounts payable | 178/9 | €2,296 | €2,296 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,563 | €59,293 | +€10,730 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €20,351 | €16,792 | -€3,558 | -17.5% |
| Financial debts | 43 | €996 | €0 | -€996 | -100.0% |
| Other loans | 439 | €996 | €0 | -€996 | -100.0% |
| Trade debts | 44 | €2,417 | €17,555 | +€15,138 | +626.2% |
| Suppliers | 440/4 | €2,417 | €17,555 | +€15,138 | +626.2% |
| Taxes, remuneration and social security | 45 | €7,237 | €4,115 | -€3,122 | -43.1% |
| Taxes | 450/3 | €7,237 | €4,115 | -€3,122 | -43.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €17,562 | €20,830 | +€3,268 | +18.6% |
| Accrued charges and deferred income | 492/3 | €1,275 | €1,275 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,180 | €12,870 | -€3,310 | -20.5% |
| Other operating charges | 640/8 | €4,417 | €3,114 | -€1,303 | -29.5% |
| Gross operating margin | 9900 | €37,281 | €20,406 | -€16,875 | -45.3% |
| Operating profit (loss) | 9901 | €16,684 | €4,422 | -€12,261 | -73.5% |
| Financial income | 75/76B | €2 | €137 | +€135 | +6739.0% |
| Recurring financial income | 75 | €2 | €137 | +€135 | +6739.0% |
| Financial charges | 65/66B | €5,740 | €2,453 | -€3,287 | -57.3% |
| Recurring financial charges | 65 | €5,740 | €2,453 | -€3,287 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €10,945 | €2,106 | -€8,840 | -80.8% |
| Income taxes | 67/77 | €3,901 | €1,227 | -€2,674 | -68.6% |
| Profit (loss) for the period | 9904 | €7,044 | €879 | -€6,165 | -87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,044 | €879 | -€6,165 | -87.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.