MSMPRO: 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.
MSMPRO
Largest movements
- Tangible fixed assets +€384,960
up €384,960 (+467.4%), from €82,370 to €467,330
of which Leasing and similar rights: +€303,469
- Cash -€80,986
down €80,986 (-61.8%), from €131,018 to €50,032
mainly Investment in fixed assets (net) (-€422,159) and Other debts (-€69,760)
- Receivables within one year +€44,176
up €44,176 (+105.8%), from €41,764 to €85,940
of which Trade receivables: +€24,462
- Stocks and contracts -€7,358
down €7,358 (-49.4%), from €14,905 to €7,547
- Debts after one year +€311,840
up €311,840 (+404.6%), from €77,075 to €388,915
- Other debts -€69,760
down €69,760 (-99.7%), from €70,000 to €240
- Current portion of long-term debt +€50,368
up €50,368 (+176.8%), from €28,485 to €78,854
- Reserves +€42,425
new in 2025: €42,425
- Trade debts +€11,772
up €11,772 (+56.0%), from €21,040 to €32,812
- Gross operating margin -€52,900
down €52,900 (-21.6%), from €245,375 to €192,474
- Write-downs -€9,440
no longer reported in 2025 (was €9,440)
- Depreciation -€8,226
down €8,226 (-18.1%), from €45,425 to €37,199
- Financial income -€6,879
down €6,879 (-51.1%), from €13,460 to €6,581
- Staff costs +€4,815
up €4,815 (+4.5%), from €106,436 to €111,251
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 | €270,058 | €616,118 | +€346,061 | +128.1% |
| Fixed assets | 21/28 | €82,370 | €467,330 | +€384,960 | +467.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €82,370 | €467,330 | +€384,960 | +467.4% |
| Plant, machinery and equipment | 23 | €11,873 | €34,659 | +€22,786 | +191.9% |
| Furniture and vehicles | 24 | €7,033 | €8,498 | +€1,465 | +20.8% |
| Leasing and similar rights | 25 | €63,464 | €366,934 | +€303,469 | +478.2% |
| Other tangible fixed assets | 26 | - | €57,240 | +€57,240 | |
| Current assets | 29/58 | €187,687 | €148,788 | -€38,899 | -20.7% |
| Stocks and contracts in progress | 3 | €14,905 | €7,547 | -€7,358 | -49.4% |
| Stocks | 30/36 | €14,905 | €7,547 | -€7,358 | -49.4% |
| Amounts receivable within one year | 40/41 | €41,764 | €85,940 | +€44,176 | +105.8% |
| Trade receivables | 40 | €35,698 | €60,161 | +€24,462 | +68.5% |
| Other amounts receivable | 41 | €6,066 | €25,780 | +€19,713 | +325.0% |
| Cash at bank and in hand | 54/58 | €131,018 | €50,032 | -€80,986 | -61.8% |
| Deferred charges and accrued income | 490/1 | - | €5,269 | +€5,269 | |
| Total equity and liabilities | 10/49 | €270,058 | €616,118 | +€346,061 | +128.1% |
| Equity | 10/15 | €61,328 | €101,002 | +€39,674 | +64.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €42,425 | +€42,425 | |
| Distributable reserves | 133 | - | €42,425 | +€42,425 | |
| Profit (loss) carried forward | 14 | €36,773 | €36,773 | = | 0.0% |
| Investment grants | 15 | €5,955 | €3,205 | -€2,751 | -46.2% |
| Amounts payable | 17/49 | €208,730 | €515,116 | +€306,386 | +146.8% |
| Amounts payable after more than one year | 17 | €77,075 | €388,915 | +€311,840 | +404.6% |
| Financial debts | 170/4 | €77,075 | €388,915 | +€311,840 | +404.6% |
| Amounts payable within one year | 42/48 | €131,655 | €126,202 | -€5,453 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €28,485 | €78,854 | +€50,368 | +176.8% |
| Trade debts | 44 | €21,040 | €32,812 | +€11,772 | +56.0% |
| Suppliers | 440/4 | €21,040 | €32,812 | +€11,772 | +56.0% |
| Taxes, remuneration and social security | 45 | €12,130 | €14,297 | +€2,167 | +17.9% |
| Taxes | 450/3 | - | €896 | +€896 | |
| Remuneration and social security | 454/9 | €12,130 | €13,401 | +€1,271 | +10.5% |
| Other amounts payable | 47/48 | €70,000 | €240 | -€69,760 | -99.7% |
| Remuneration, social security and pensions | 62 | €106,436 | €111,251 | +€4,815 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,425 | €37,199 | -€8,226 | -18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,440 | - | -€9,440 | |
| Other operating charges | 640/8 | €867 | €456 | -€411 | -47.4% |
| Gross operating margin | 9900 | €245,375 | €192,474 | -€52,900 | -21.6% |
| Operating profit (loss) | 9901 | €83,207 | €43,568 | -€39,639 | -47.6% |
| Financial income | 75/76B | €13,460 | €6,581 | -€6,879 | -51.1% |
| Recurring financial income | 75 | €13,460 | €6,581 | -€6,879 | -51.1% |
| Financial charges | 65/66B | €3,192 | €7,975 | +€4,783 | +149.8% |
| Recurring financial charges | 65 | €3,192 | €7,975 | +€4,783 | +149.8% |
| Profit (loss) for the period before taxes | 9903 | €93,475 | €42,174 | -€51,300 | -54.9% |
| Income taxes | 67/77 | €1,907 | -€250 | -€2,157 | |
| Profit (loss) for the period | 9904 | €91,568 | €42,425 | -€49,143 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,568 | €42,425 | -€49,143 | -53.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.