MSO 7: 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.
MSO 7
Largest movements
- Cash +€45,872
up €45,872 (+125.0%), from €36,711 to €82,582
mainly Net result for the year (+€26,864) and Debts after one year (+€10,982)
- Deferred charges and accrued income +€21,573
up €21,573 (+70.5%), from €30,605 to €52,178
- Tangible fixed assets -€17,408
down €17,408 (-36.5%), from €47,716 to €30,308
of which Furniture and vehicles: -€21,636
- Receivables within one year -€6,765
down €6,765 (-46.7%), from €14,497 to €7,732
of which Other amounts receivable: -€7,297
- Reserves +€40,764
up €40,764 (+123.5%), from €33,000 to €73,764
- Trade debts -€13,976
down €13,976 (-54.9%), from €25,453 to €11,477
- Profit (loss) carried forward -€13,900
no longer reported in 2025 (was €13,900)
- Debts after one year +€10,982
up €10,982 (+48.5%), from €22,653 to €33,634
of which Other amounts payable: +€15,133
- Other debts +€9,472
up €9,472 (+61.3%), from €15,445 to €24,917
- Other operating charges +€5,668
up €5,668 (+522.2%), from €1,085 to €6,753
- Financial charges +€3,466
up €3,466 (+462.3%), from €750 to €4,216
- Taxes +€2,823
up €2,823 (+28.5%), from €9,911 to €12,734
- Gross operating margin +€834
up €834 (+1.4%), from €60,625 to €61,459
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 | €129,529 | €172,800 | +€43,271 | +33.4% |
| Fixed assets | 21/28 | €47,716 | €30,308 | -€17,408 | -36.5% |
| Tangible fixed assets | 22/27 | €47,716 | €30,308 | -€17,408 | -36.5% |
| Plant, machinery and equipment | 23 | €6,507 | €9,629 | +€3,122 | +48.0% |
| Furniture and vehicles | 24 | €39,737 | €18,101 | -€21,636 | -54.4% |
| Other tangible fixed assets | 26 | €1,472 | €2,578 | +€1,106 | +75.1% |
| Current assets | 29/58 | €81,813 | €142,492 | +€60,679 | +74.2% |
| Amounts receivable within one year | 40/41 | €14,497 | €7,732 | -€6,765 | -46.7% |
| Trade receivables | 40 | - | €532 | +€532 | |
| Other amounts receivable | 41 | €14,497 | €7,200 | -€7,297 | -50.3% |
| Cash at bank and in hand | 54/58 | €36,711 | €82,582 | +€45,872 | +125.0% |
| Deferred charges and accrued income | 490/1 | €30,605 | €52,178 | +€21,573 | +70.5% |
| Total equity and liabilities | 10/49 | €129,529 | €172,800 | +€43,271 | +33.4% |
| Equity | 10/15 | €46,901 | €73,765 | +€26,864 | +57.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €33,000 | €73,764 | +€40,764 | +123.5% |
| Distributable reserves | 133 | €33,000 | €73,764 | +€40,764 | +123.5% |
| Profit (loss) carried forward | 14 | €13,900 | - | -€13,900 | |
| Amounts payable | 17/49 | €82,627 | €99,035 | +€16,408 | +19.9% |
| Amounts payable after more than one year | 17 | €22,653 | €33,634 | +€10,982 | +48.5% |
| Financial debts | 170/4 | €8,088 | €3,937 | -€4,151 | -51.3% |
| Other amounts payable | 178/9 | €14,564 | €29,698 | +€15,133 | +103.9% |
| Amounts payable within one year | 42/48 | €59,947 | €65,388 | +€5,442 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €4,007 | €4,151 | +€145 | +3.6% |
| Trade debts | 44 | €25,453 | €11,477 | -€13,976 | -54.9% |
| Suppliers | 440/4 | €25,453 | €11,477 | -€13,976 | -54.9% |
| Advances received on contracts in progress | 46 | - | €690 | +€690 | |
| Taxes, remuneration and social security | 45 | €15,042 | €24,152 | +€9,110 | +60.6% |
| Taxes | 450/3 | €12,762 | €22,652 | +€9,890 | +77.5% |
| Remuneration and social security | 454/9 | €2,280 | €1,500 | -€780 | -34.2% |
| Other amounts payable | 47/48 | €15,445 | €24,917 | +€9,472 | +61.3% |
| Accrued charges and deferred income | 492/3 | €28 | €12 | -€15 | -55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,111 | €10,611 | -€500 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €295 | +€295 | |
| Other operating charges | 640/8 | €1,085 | €6,753 | +€5,668 | +522.2% |
| Gross operating margin | 9900 | €60,625 | €61,459 | +€834 | +1.4% |
| Operating profit (loss) | 9901 | €48,429 | €43,801 | -€4,628 | -9.6% |
| Financial income | 75/76B | €0 | €12 | +€12 | +4189.3% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +4189.3% |
| Financial charges | 65/66B | €750 | €4,216 | +€3,466 | +462.3% |
| Recurring financial charges | 65 | €750 | €4,216 | +€3,466 | +462.3% |
| Profit (loss) for the period before taxes | 9903 | €47,680 | €39,597 | -€8,083 | -17.0% |
| Income taxes | 67/77 | €9,911 | €12,734 | +€2,823 | +28.5% |
| Profit (loss) for the period | 9904 | €37,769 | €26,864 | -€10,906 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,769 | €26,864 | -€10,906 | -28.9% |
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 9 October 2026 via checked.be.