MSP Bois Engineering: 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.
What changed
MSP Bois Engineering
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · -€966,204+€2.4m
Equity
€862,170
2024 · -€550,773+€1.4m
Cash
€2,902
2024 · €150,285-€147,383
Balance sheet total
€8.0m
2024 · €10.3m-€2.4m
Largest movements
Assets
- Receivables within one year -€1.3m
down €1.3m (-31.6%), from €4.2m to €2.9m
of which Trade receivables: -€2.2m
- Stocks and contracts -€512,321
down €512,321 (-85.7%), from €597,906 to €85,585
- Intangible fixed assets -€417,667
down €417,667 (-15.9%), from €2.6m to €2.2m
- Financial fixed assets +€332,049
up €332,049 (+13.4%), from €2.5m to €2.8m
- Tangible fixed assets -€301,840
down €301,840 (-95.4%), from €316,485 to €14,645
of which Land and buildings: -€304,053
Equity and liabilities
- Advances received -€2.6m
down €2.6m (-79.5%), from €3.3m to €675,736
- Short-term financial debts -€2.1m
down €2.1m (-87.3%), from €2.4m to €300,000
- Trade debts +€1.5m
up €1.5m (+64.1%), from €2.4m to €3.9m
- Profit (loss) carried forward +€1.4m
up €1.4m (+69.8%), from -€2.1m to -€622,734
- Debts after one year -€672,823
down €672,823 (-32.5%), from €2.1m to €1.4m
of which Financial debts: -€395,129
Income statement
- Turnover +€7.7m
up €7.7m (+141%), from €5.5m to €13.2m
- Purchases and services +€5.9m
up €5.9m (+97.9%), from €6.1m to €12.0m
- Gross operating margin +€2.1m
up €2.1m (+824%), from €256,415 to €2.4m
- Financial charges -€142,893
down €142,893 (-41.3%), from €345,610 to €202,717
of which Financial charges: -€142,123
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.
Result 2024
-€966,204
Gross operating margin
+€2.1m
Staff costs
-€78,633
Depreciation
+€41,255
Other operating charges
-€3,675
Other operating items
+€51,025
Financial income
+€67,155
Financial charges
+€142,893
Taxes
+€84,217
Result 2025
€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.2m
Investment
-€217,272
Financing
-€3.1m
Cash 2024
€150,285
From operations (derived)
+€3.2m
Net result for the year
+€1.5m
Depreciation
+€604,730
Stocks and contracts
+€512,321
Receivables within one year
+€1.3m
Trade debts
+€1.5m
Tax, wage and social debts
+€355,763
Advances received
-€2.6m
Accrued charges and deferred income
+€1,956
Investment (derived)
-€217,272
Investment in fixed assets (net)
-€217,272
Financing
-€3.1m
Debts after one year
-€672,823
Current portion of long-term debt
-€306,140
Short-term financial debts
-€2.1m
Contributions, distributions and other
-€38,281
Cash 2025
€2,902
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,344,500 | €7,978,590 | -€2.4m | -22.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €5,416,515 | €5,029,057 | -€387,458 | -7.2% |
| Intangible fixed assets | 21 | €2,630,812 | €2,213,145 | -€417,667 | -15.9% |
| Tangible fixed assets | 22/27 | €316,485 | €14,645 | -€301,840 | -95.4% |
| Land and buildings | 22 | €304,053 | €0 | -€304,053 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €12,432 | €14,645 | +€2,213 | +17.8% |
| Financial fixed assets | 28 | €2,469,218 | €2,801,267 | +€332,049 | +13.4% |
| Current assets | 29/58 | €4,927,985 | €2,949,532 | -€2.0m | -40.1% |
| Stocks and contracts in progress | 3 | €597,906 | €85,585 | -€512,321 | -85.7% |
| Stocks | 30/36 | €597,906 | €85,585 | -€512,321 | -85.7% |
| Amounts receivable within one year | 40/41 | €4,179,794 | €2,861,045 | -€1.3m | -31.6% |
| Trade receivables | 40 | €3,975,339 | €1,804,359 | -€2.2m | -54.6% |
| Other amounts receivable | 41 | €204,455 | €1,056,686 | +€852,231 | +417% |
| Cash at bank and in hand | 54/58 | €150,285 | €2,902 | -€147,383 | -98.1% |
| Total equity and liabilities | 10/49 | €10,344,500 | €7,978,590 | -€2.4m | -22.9% |
| Equity | 10/15 | -€550,773 | €862,170 | +€1.4m | |
| Contributions | 10/11 | €299,719 | €299,719 | = | 0.0% |
| Capital | 10 | €299,719 | €299,719 | = | 0.0% |
| Issued capital | 100 | €299,719 | €299,719 | = | 0.0% |
| Reserves | 13 | €14,986 | €29,972 | +€14,986 | +100.0% |
| Non-distributable reserves | 130/1 | €14,986 | €29,972 | +€14,986 | +100.0% |
| Legal reserve | 130 | €14,986 | €29,972 | +€14,986 | +100.0% |
| Profit (loss) carried forward | 14 | -€2,058,972 | -€622,734 | +€1.4m | +69.8% |
| Investment grants | 15 | €1,193,494 | €1,155,213 | -€38,281 | -3.2% |
| Provisions and deferred taxes | 16 | €360 | €360 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €360 | €360 | = | 0.0% |
| Other liabilities and charges | 164/5 | €360 | €360 | = | 0.0% |
| Amounts payable | 17/49 | €10,894,913 | €7,116,060 | -€3.8m | -34.7% |
| Amounts payable after more than one year | 17 | €2,069,956 | €1,397,134 | -€672,823 | -32.5% |
| Financial debts | 170/4 | €627,831 | €232,701 | -€395,129 | -62.9% |
| Other amounts payable | 178/9 | €1,442,126 | €1,164,432 | -€277,694 | -19.3% |
| Amounts payable within one year | 42/48 | €8,824,957 | €5,716,970 | -€3.1m | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €539,744 | €233,604 | -€306,140 | -56.7% |
| Financial debts | 43 | €2,367,000 | €300,000 | -€2.1m | -87.3% |
| Credit institutions | 430/8 | €2,367,000 | €300,000 | -€2.1m | -87.3% |
| Trade debts | 44 | €2,380,796 | €3,906,345 | +€1.5m | +64.1% |
| Suppliers | 440/4 | €2,380,796 | €3,906,345 | +€1.5m | +64.1% |
| Advances received on contracts in progress | 46 | €3,291,894 | €675,736 | -€2.6m | -79.5% |
| Taxes, remuneration and social security | 45 | €245,392 | €601,155 | +€355,763 | +145% |
| Taxes | 450/3 | €189,134 | €485,048 | +€295,914 | +156% |
| Remuneration and social security | 454/9 | €56,257 | €116,106 | +€59,849 | +106% |
| Other amounts payable | 47/48 | €131 | €131 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,956 | +€1,956 | +1,222,288% |
| Turnover | 70 | €5,495,273 | €13,224,448 | +€7.7m | +141% |
| Non-recurring operating income | 76A | €3,915 | €1,522,271 | +€1.5m | +38,780% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,076,129 | €12,023,930 | +€5.9m | +97.9% |
| Remuneration, social security and pensions | 62 | €413,833 | €492,466 | +€78,633 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €645,985 | €604,730 | -€41,255 | -6.4% |
| Other operating charges | 640/8 | €15,552 | €19,228 | +€3,675 | +23.6% |
| Non-recurring operating charges | 66A | €57,314 | €6,289 | -€51,025 | -89.0% |
| Gross operating margin | 9900 | €256,415 | €2,369,607 | +€2.1m | +824% |
| Operating profit (loss) | 9901 | -€876,269 | €1,246,894 | +€2.1m | |
| Financial income | 75/76B | €399,312 | €466,468 | +€67,155 | +16.8% |
| Recurring financial income | 75 | €281,416 | €464,823 | +€183,407 | +65.2% |
| Non-recurring financial income | 76B | €117,896 | €1,645 | -€116,251 | -98.6% |
| Financial charges | 65/66B | €345,610 | €202,717 | -€142,893 | -41.3% |
| Recurring financial charges | 65 | €344,840 | €202,717 | -€142,123 | -41.2% |
| Non-recurring financial charges | 66B | €770 | - | -€770 | |
| Profit (loss) for the period before taxes | 9903 | -€822,566 | €1,510,645 | +€2.3m | |
| Income taxes | 67/77 | €143,638 | €59,421 | -€84,217 | -58.6% |
| Profit (loss) for the period | 9904 | -€966,204 | €1,451,224 | +€2.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€966,204 | €1,451,224 | +€2.4m |
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 18 October 2026 via checked.be.