MSPJ: 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.
MSPJ
Largest movements
- Receivables within one year -€19,267
down €19,267 (-62.3%), from €30,921 to €11,654
of which Trade receivables: -€18,888
- Cash +€5,813
up €5,813 (+251.3%), from €2,313 to €8,126
mainly Receivables within one year (+€19,267) and Depreciation (+€1,148)
- Deferred charges and accrued income -€396
down €396 (-23.2%), from €1,708 to €1,312
- Trade debts -€8,030
down €8,030 (-26.7%), from €30,116 to €22,087
- Profit (loss) carried forward -€5,114
down €5,114, from €981 to -€4,134
- Other debts -€833
down €833 (-37.0%), from €2,253 to €1,420
- Gross operating margin -€3,997
down €3,997, from €2,645 to -€1,352
- Other operating charges -€684
down €684 (-53.6%), from €1,276 to €591
- Staff costs +€659
up €659 (+72.6%), from €907 to €1,567
- Financial charges -€324
down €324 (-41.5%), from €780 to €456
- Depreciation +€124
up €124 (+12.1%), from €1,024 to €1,148
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 | €38,389 | €24,204 | -€14,185 | -37.0% |
| Fixed assets | 21/28 | €3,447 | €3,112 | -€335 | -9.7% |
| Tangible fixed assets | 22/27 | €3,447 | €3,112 | -€335 | -9.7% |
| Plant, machinery and equipment | 23 | €3,447 | €2,423 | -€1,024 | -29.7% |
| Furniture and vehicles | 24 | - | €689 | +€689 | |
| Current assets | 29/58 | €34,942 | €21,092 | -€13,850 | -39.6% |
| Amounts receivable within one year | 40/41 | €30,921 | €11,654 | -€19,267 | -62.3% |
| Trade receivables | 40 | €30,284 | €11,397 | -€18,888 | -62.4% |
| Other amounts receivable | 41 | €636 | €257 | -€379 | -59.6% |
| Cash at bank and in hand | 54/58 | €2,313 | €8,126 | +€5,813 | +251.3% |
| Deferred charges and accrued income | 490/1 | €1,708 | €1,312 | -€396 | -23.2% |
| Total equity and liabilities | 10/49 | €38,389 | €24,204 | -€14,185 | -37.0% |
| Equity | 10/15 | €2,981 | -€2,134 | -€5,114 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €981 | -€4,134 | -€5,114 | |
| Amounts payable | 17/49 | €35,408 | €26,337 | -€9,071 | -25.6% |
| Amounts payable within one year | 42/48 | €35,343 | €26,270 | -€9,072 | -25.7% |
| Trade debts | 44 | €30,116 | €22,087 | -€8,030 | -26.7% |
| Suppliers | 440/4 | €30,116 | €22,087 | -€8,030 | -26.7% |
| Taxes, remuneration and social security | 45 | €2,974 | €2,764 | -€210 | -7.1% |
| Taxes | 450/3 | €2,974 | €2,764 | -€210 | -7.1% |
| Other amounts payable | 47/48 | €2,253 | €1,420 | -€833 | -37.0% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Remuneration, social security and pensions | 62 | €907 | €1,567 | +€659 | +72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,024 | €1,148 | +€124 | +12.1% |
| Other operating charges | 640/8 | €1,276 | €591 | -€684 | -53.6% |
| Gross operating margin | 9900 | €2,645 | -€1,352 | -€3,997 | |
| Operating profit (loss) | 9901 | -€562 | -€4,659 | -€4,096 | -728.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -90.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -90.0% |
| Financial charges | 65/66B | €780 | €456 | -€324 | -41.5% |
| Recurring financial charges | 65 | €780 | €456 | -€324 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,342 | -€5,114 | -€3,772 | -281.1% |
| Profit (loss) for the period | 9904 | -€1,342 | -€5,114 | -€3,772 | -281.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,342 | -€5,114 | -€3,772 | -281.1% |
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 2 October 2026 via checked.be.