MSN CONSULTING: 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.
MSN CONSULTING
Largest movements
- Cash +€73,140
up €73,140 (+231%), from €31,602 to €104,741
mainly Net result for the year (+€49,703) and Tax, wage and social debts (+€14,367)
- Receivables after one year -€4,472
down €4,472 (-11.8%), from €37,978 to €33,506
- Receivables within one year -€3,262
down €3,262 (-17.3%), from €18,887 to €15,625
of which Trade receivables: -€3,966
- Tangible fixed assets -€2,026
down €2,026 (-36.2%), from €5,604 to €3,578
- Profit (loss) carried forward +€49,703
up €49,703 (+69.0%), from €72,002 to €121,705
- Tax, wage and social debts +€14,367
up €14,367 (+89.1%), from €16,131 to €30,499
- Gross operating margin +€14,597
up €14,597 (+28.8%), from €50,639 to €65,236
- Taxes +€3,279
up €3,279 (+31.3%), from €10,481 to €13,760
- Other operating charges -€953
down €953 (-97.2%), from €980 to €27
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 | €94,071 | €157,450 | +€63,379 | +67.4% |
| Fixed assets | 21/28 | €5,604 | €3,578 | -€2,026 | -36.2% |
| Tangible fixed assets | 22/27 | €5,604 | €3,578 | -€2,026 | -36.2% |
| Furniture and vehicles | 24 | €5,604 | €3,578 | -€2,026 | -36.2% |
| Current assets | 29/58 | €88,467 | €153,872 | +€65,405 | +73.9% |
| Amounts receivable after more than one year | 29 | €37,978 | €33,506 | -€4,472 | -11.8% |
| Trade receivables | 290 | €37,978 | €33,506 | -€4,472 | -11.8% |
| Amounts receivable within one year | 40/41 | €18,887 | €15,625 | -€3,262 | -17.3% |
| Trade receivables | 40 | €14,611 | €10,645 | -€3,966 | -27.1% |
| Other amounts receivable | 41 | €4,276 | €4,980 | +€704 | +16.5% |
| Cash at bank and in hand | 54/58 | €31,602 | €104,741 | +€73,140 | +231% |
| Total equity and liabilities | 10/49 | €94,071 | €157,450 | +€63,379 | +67.4% |
| Equity | 10/15 | €75,002 | €124,705 | +€49,703 | +66.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,002 | €121,705 | +€49,703 | +69.0% |
| Amounts payable | 17/49 | €19,069 | €32,745 | +€13,676 | +71.7% |
| Amounts payable within one year | 42/48 | €19,069 | €32,745 | +€13,676 | +71.7% |
| Trade debts | 44 | €2,710 | €1,740 | -€970 | -35.8% |
| Suppliers | 440/4 | €2,710 | €1,740 | -€970 | -35.8% |
| Taxes, remuneration and social security | 45 | €16,131 | €30,499 | +€14,367 | +89.1% |
| Taxes | 450/3 | €16,131 | €30,499 | +€14,367 | +89.1% |
| Other amounts payable | 47/48 | €228 | €507 | +€278 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,349 | €2,705 | +€356 | +15.1% |
| Other operating charges | 640/8 | €980 | €27 | -€953 | -97.2% |
| Gross operating margin | 9900 | €50,639 | €65,236 | +€14,597 | +28.8% |
| Operating profit (loss) | 9901 | €47,310 | €62,504 | +€15,193 | +32.1% |
| Financial income | 75/76B | €1,314 | €1,814 | +€500 | +38.0% |
| Recurring financial income | 75 | €1,314 | €1,814 | +€500 | +38.0% |
| Financial charges | 65/66B | €1,300 | €854 | -€445 | -34.3% |
| Recurring financial charges | 65 | €1,300 | €854 | -€445 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €47,325 | €63,463 | +€16,139 | +34.1% |
| Income taxes | 67/77 | €10,481 | €13,760 | +€3,279 | +31.3% |
| Profit (loss) for the period | 9904 | €36,843 | €49,703 | +€12,860 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,843 | €49,703 | +€12,860 | +34.9% |
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 15 October 2026 via checked.be.