Msol: 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.
Msol
Largest movements
- Cash +€33,300
up €33,300 (+171%), from €19,494 to €52,794
mainly Depreciation (+€61,293) and Other debts (+€35,470)
- Receivables within one year +€20,536
up €20,536 (+109%), from €18,833 to €39,369
of which Trade receivables: +€18,736
- Tangible fixed assets +€17,269
up €17,269 (+15.9%), from €108,656 to €125,925
of which Land and buildings: +€52,794
- Deferred charges and accrued income +€3,241
up €3,241 (+51.8%), from €6,261 to €9,502
- Other debts +€35,470
up €35,470 (+410%), from €8,655 to €44,125
- Reserves +€31,328
up €31,328 (+23.6%), from €132,858 to €164,186
- Accrued charges and deferred income +€4,194
new in 2025: €4,194
- Tax, wage and social debts +€4,001
up €4,001 (+52.9%), from €7,565 to €11,566
- Depreciation +€12,476
up €12,476 (+25.6%), from €48,816 to €61,293
- Taxes -€5,853
down €5,853 (-25.6%), from €22,838 to €16,985
- Gross operating margin -€3,862
down €3,862 (-3.2%), from €121,044 to €117,181
- Other operating charges +€2,050
up €2,050 (+49.0%), from €4,180 to €6,229
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 | €153,244 | €227,590 | +€74,346 | +48.5% |
| Fixed assets | 21/28 | €108,656 | €125,925 | +€17,269 | +15.9% |
| Tangible fixed assets | 22/27 | €108,656 | €125,925 | +€17,269 | +15.9% |
| Land and buildings | 22 | - | €52,794 | +€52,794 | |
| Plant, machinery and equipment | 23 | €55,601 | €42,538 | -€13,063 | -23.5% |
| Furniture and vehicles | 24 | €53,055 | €30,594 | -€22,461 | -42.3% |
| Current assets | 29/58 | €44,588 | €101,665 | +€57,077 | +128% |
| Amounts receivable within one year | 40/41 | €18,833 | €39,369 | +€20,536 | +109% |
| Trade receivables | 40 | €14,852 | €33,588 | +€18,736 | +126% |
| Other amounts receivable | 41 | €3,981 | €5,781 | +€1,800 | +45.2% |
| Cash at bank and in hand | 54/58 | €19,494 | €52,794 | +€33,300 | +171% |
| Deferred charges and accrued income | 490/1 | €6,261 | €9,502 | +€3,241 | +51.8% |
| Total equity and liabilities | 10/49 | €153,244 | €227,590 | +€74,346 | +48.5% |
| Equity | 10/15 | €133,858 | €165,186 | +€31,328 | +23.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €132,858 | €164,186 | +€31,328 | +23.6% |
| Distributable reserves | 133 | €132,858 | €164,186 | +€31,328 | +23.6% |
| Amounts payable | 17/49 | €19,386 | €62,404 | +€43,018 | +222% |
| Amounts payable within one year | 42/48 | €19,386 | €58,211 | +€38,824 | +200% |
| Trade debts | 44 | €3,166 | €2,519 | -€647 | -20.4% |
| Suppliers | 440/4 | €3,166 | €2,519 | -€647 | -20.4% |
| Taxes, remuneration and social security | 45 | €7,565 | €11,566 | +€4,001 | +52.9% |
| Taxes | 450/3 | €7,565 | €11,566 | +€4,001 | +52.9% |
| Other amounts payable | 47/48 | €8,655 | €44,125 | +€35,470 | +410% |
| Accrued charges and deferred income | 492/3 | - | €4,194 | +€4,194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,816 | €61,293 | +€12,476 | +25.6% |
| Other operating charges | 640/8 | €4,180 | €6,229 | +€2,050 | +49.0% |
| Gross operating margin | 9900 | €121,044 | €117,181 | -€3,862 | -3.2% |
| Operating profit (loss) | 9901 | €68,047 | €49,659 | -€18,388 | -27.0% |
| Financial income | 75/76B | €100 | €286 | +€186 | +187% |
| Recurring financial income | 75 | €100 | €286 | +€186 | +187% |
| Financial charges | 65/66B | €475 | €799 | +€324 | +68.2% |
| Recurring financial charges | 65 | €475 | €799 | +€324 | +68.2% |
| Profit (loss) for the period before taxes | 9903 | €67,672 | €49,146 | -€18,526 | -27.4% |
| Income taxes | 67/77 | €22,838 | €16,985 | -€5,853 | -25.6% |
| Profit (loss) for the period | 9904 | €44,834 | €32,161 | -€12,673 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,834 | €32,161 | -€12,673 | -28.3% |
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 29 October 2026 via checked.be.