MSPA: 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.
MSPA
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€11,931
down €11,931 (-100.0%), from €11,931 to €0
- Financial charges -€808
no longer reported in 2025 (was €808)
- Other operating charges -€166
no longer reported in 2025 (was €166)
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 | €14,690 | €14,690 | = | 0.0% |
| Fixed assets | 21/28 | €253 | €253 | = | 0.0% |
| Financial fixed assets | 28 | €253 | €253 | = | 0.0% |
| Current assets | 29/58 | €14,437 | €14,437 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,878 | €13,878 | = | 0.0% |
| Trade receivables | 40 | €13,878 | €13,878 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €559 | €559 | = | 0.0% |
| Total equity and liabilities | 10/49 | €14,690 | €14,690 | = | 0.0% |
| Equity | 10/15 | -€12,872 | -€12,872 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,860 | €34,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €33,000 | €33,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,332 | -€66,332 | = | 0.0% |
| Amounts payable | 17/49 | €27,562 | €27,562 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,562 | €27,562 | = | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €12,269 | €12,269 | = | 0.0% |
| Trade debts | 44 | €1,504 | €1,504 | = | 0.0% |
| Suppliers | 440/4 | €1,504 | €1,504 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,562 | €2,562 | = | 0.0% |
| Taxes | 450/3 | €2,487 | €2,487 | = | 0.0% |
| Remuneration and social security | 454/9 | €75 | €75 | = | 0.0% |
| Other amounts payable | 47/48 | €11,226 | €11,226 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27 | - | -€27 | |
| Other operating charges | 640/8 | €166 | - | -€166 | |
| Non-recurring operating charges | 66A | €35,194 | - | -€35,194 | |
| Gross operating margin | 9900 | €11,931 | €0 | -€11,931 | -100.0% |
| Operating profit (loss) | 9901 | -€23,456 | €0 | +€23,456 | |
| Financial charges | 65/66B | €808 | - | -€808 | |
| Recurring financial charges | 65 | €808 | - | -€808 | |
| Profit (loss) for the period before taxes | 9903 | -€24,264 | €0 | +€24,264 | |
| Profit (loss) for the period | 9904 | -€24,264 | €0 | +€24,264 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,264 | €0 | +€24,264 |
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 10 October 2026 via checked.be.