MSP Bois: what changed
What changed
MSP Bois
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€27,804
2024 · -€3.9m+€3.9m
Equity
-€3.7m
2024 · -€3.2m-€505,537
Cash
€17,924
2024 · €86,712-€68,787
Balance sheet total
€15.3m
2024 · €16.2m-€974,272
Largest movements
Assets
- Tangible fixed assets -€1.6m
down €1.6m (-17.2%), from €9.4m to €7.8m
- Receivables within one year +€1.3m
up €1.3m (+48.2%), from €2.7m to €3.9m
of which Trade receivables: +€1.3m
- Intangible fixed assets -€845,255
down €845,255 (-33.3%), from €2.5m to €1.7m
Equity and liabilities
- Trade debts -€2.3m
down €2.3m (-47.9%), from €4.8m to €2.5m
- Advances received +€1.1m
up €1.1m (+308%), from €358,343 to €1.5m
- Tax, wage and social debts +€889,047
up €889,047 (+330%), from €269,395 to €1.2m
of which Taxes: +€897,025
- Debts after one year +€706,367
up €706,367 (+7.3%), from €9.7m to €10.4m
of which Other amounts payable: +€502,556
- Current portion of long-term debt -€635,670
down €635,670 (-29.2%), from €2.2m to €1.5m
Income statement
- Turnover +€5.8m
up €5.8m (+115%), from €5.0m to €10.9m
- Gross operating margin +€3.9m
up €3.9m (+5,110%), from €77,215 to €4.0m
- Purchases and services +€1.3m
up €1.3m (+23.5%), from €5.6m to €6.9m
- Financial charges +€180,009
up €180,009 (+33.8%), from €531,912 to €711,921
of which Financial charges: +€179,344
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€3.9m
Gross operating margin
+€3.9m
Staff costs
-€6,540
Depreciation
-€70,290
Write-downs
+€1,646
Provisions
+€36,000
Other operating charges
+€55,514
Other operating items
+€131,102
Financial income
+€24,585
Financial charges
-€180,009
Taxes
-€35,005
Result 2025
€27,804
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€790,043
Investment
-€263,187
Financing
-€595,643
Cash 2024
€86,712
From operations (derived)
+€790,043
Net result for the year
+€27,804
Depreciation
+€2.6m
Stocks and contracts
-€130,360
Receivables within one year
-€1.3m
Deferred charges and accrued income
-€24,395
Trade debts
-€2.3m
Tax, wage and social debts
+€889,047
Advances received
+€1.1m
Accrued charges and deferred income
-€82,092
Investment (derived)
-€263,187
Investment in fixed assets (net)
-€263,187
Financing
-€595,643
Debts after one year
+€706,367
Current portion of long-term debt
-€635,670
Short-term financial debts
-€133,000
Contributions, distributions and other
-€533,340
Cash 2025
€17,924
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,236,612 | €15,262,340 | -€974,272 | -6.0% |
| Fixed assets | 21/28 | €12,622,818 | €10,280,300 | -€2.3m | -18.6% |
| Intangible fixed assets | 21 | €2,535,765 | €1,690,510 | -€845,255 | -33.3% |
| Tangible fixed assets | 22/27 | €9,421,607 | €7,798,976 | -€1.6m | -17.2% |
| Land and buildings | 22 | €2,157,732 | €2,081,581 | -€76,151 | -3.5% |
| Plant, machinery and equipment | 23 | €1,435,618 | €1,068,712 | -€366,907 | -25.6% |
| Furniture and vehicles | 24 | €22,678 | €11,890 | -€10,788 | -47.6% |
| Leasing and similar rights | 25 | €3,744,185 | €3,068,805 | -€675,380 | -18.0% |
| Other tangible fixed assets | 26 | €2,061,392 | €1,567,988 | -€493,405 | -23.9% |
| Financial fixed assets | 28 | €665,447 | €790,815 | +€125,368 | +18.8% |
| Current assets | 29/58 | €3,613,794 | €4,982,040 | +€1.4m | +37.9% |
| Stocks and contracts in progress | 3 | €859,902 | €990,262 | +€130,360 | +15.2% |
| Stocks | 30/36 | €859,902 | €990,262 | +€130,360 | +15.2% |
| Amounts receivable within one year | 40/41 | €2,659,208 | €3,941,487 | +€1.3m | +48.2% |
| Trade receivables | 40 | €2,604,813 | €3,920,147 | +€1.3m | +50.5% |
| Other amounts receivable | 41 | €54,395 | €21,339 | -€33,055 | -60.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €86,712 | €17,924 | -€68,787 | -79.3% |
| Deferred charges and accrued income | 490/1 | €7,972 | €32,367 | +€24,395 | +306% |
| Total equity and liabilities | 10/49 | €16,236,612 | €15,262,340 | -€974,272 | -6.0% |
| Equity | 10/15 | -€3,243,496 | -€3,749,033 | -€505,537 | -15.6% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €83,118 | €84,508 | +€1,390 | +1.7% |
| Non-distributable reserves | 130/1 | €64,368 | €65,758 | +€1,390 | +2.2% |
| Legal reserve | 130 | €51,763 | €53,153 | +€1,390 | +2.7% |
| Reserves not available under the articles | 1311 | €12,605 | €12,605 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,993,881 | -€6,967,467 | +€26,413 | +0.4% |
| Investment grants | 15 | €1,667,267 | €1,133,926 | -€533,340 | -32.0% |
| Provisions and deferred taxes | 16 | €36,000 | €36,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €36,000 | €36,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €36,000 | €36,000 | = | 0.0% |
| Amounts payable | 17/49 | €19,444,108 | €18,975,373 | -€468,736 | -2.4% |
| Amounts payable after more than one year | 17 | €9,673,561 | €10,379,928 | +€706,367 | +7.3% |
| Financial debts | 170/4 | €5,774,146 | €5,977,956 | +€203,811 | +3.5% |
| Other amounts payable | 178/9 | €3,899,415 | €4,401,972 | +€502,556 | +12.9% |
| Amounts payable within one year | 42/48 | €9,278,000 | €8,184,988 | -€1.1m | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €2,178,115 | €1,542,445 | -€635,670 | -29.2% |
| Financial debts | 43 | €1,633,000 | €1,500,000 | -€133,000 | -8.1% |
| Credit institutions | 430/8 | €1,633,000 | €1,500,000 | -€133,000 | -8.1% |
| Trade debts | 44 | €4,836,486 | €2,519,950 | -€2.3m | -47.9% |
| Suppliers | 440/4 | €4,836,486 | €2,519,950 | -€2.3m | -47.9% |
| Advances received on contracts in progress | 46 | €358,343 | €1,461,491 | +€1.1m | +308% |
| Taxes, remuneration and social security | 45 | €269,395 | €1,158,441 | +€889,047 | +330% |
| Taxes | 450/3 | - | €897,025 | +€897,025 | |
| Remuneration and social security | 454/9 | €269,395 | €261,416 | -€7,979 | -3.0% |
| Other amounts payable | 47/48 | €2,661 | €2,661 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €492,548 | €410,456 | -€82,092 | -16.7% |
| Turnover | 70 | €5,047,141 | €10,869,430 | +€5.8m | +115% |
| Non-recurring operating income | 76A | €5,754 | €268 | -€5,486 | -95.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €5,555,812 | €6,862,045 | +€1.3m | +23.5% |
| Remuneration, social security and pensions | 62 | €1,229,416 | €1,235,956 | +€6,540 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,535,415 | €2,605,705 | +€70,290 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,646 | -€1,646 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €36,000 | - | -€36,000 | |
| Other operating charges | 640/8 | €76,922 | €21,408 | -€55,514 | -72.2% |
| Non-recurring operating charges | 66A | €134,613 | €3,511 | -€131,102 | -97.4% |
| Gross operating margin | 9900 | €77,215 | €4,022,655 | +€3.9m | +5,110% |
| Operating profit (loss) | 9901 | -€3,935,152 | €157,720 | +€4.1m | |
| Financial income | 75/76B | €592,426 | €617,010 | +€24,585 | +4.1% |
| Recurring financial income | 75 | €561,847 | €575,280 | +€13,433 | +2.4% |
| Non-recurring financial income | 76B | €30,579 | €41,731 | +€11,152 | +36.5% |
| Financial charges | 65/66B | €531,912 | €711,921 | +€180,009 | +33.8% |
| Recurring financial charges | 65 | €531,687 | €711,031 | +€179,344 | +33.7% |
| Non-recurring financial charges | 66B | €225 | €890 | +€665 | +295% |
| Profit (loss) for the period before taxes | 9903 | -€3,874,639 | €62,809 | +€3.9m | |
| Income taxes | 67/77 | - | €35,005 | +€35,005 | |
| Profit (loss) for the period | 9904 | -€3,874,639 | €27,804 | +€3.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,874,639 | €27,804 | +€3.9m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.