MSPS: what changed
MSPS
Largest movements
- Receivables within one year +€17,514
up €17,514 (+109%), from €16,051 to €33,565
of which Other amounts receivable: +€12,954
- Cash -€16,864
down €16,864 (-60.4%), from €27,935 to €11,071
mainly Net result for the year (-€79,529) and Other debts (-€26,628)
- Tangible fixed assets -€5,023
down €5,023 (-25.1%), from €20,031 to €15,008
of which Furniture and vehicles: -€4,059
- Deferred charges and accrued income +€837
up €837 (+291%), from €288 to €1,124
- Profit (loss) carried forward -€79,529
down €79,529, from €17,125 to -€62,404
- Provisions +€49,563
new in 2025: €49,563
- Trade debts +€37,608
up €37,608 (+3,480%), from €1,081 to €38,689
- Other debts -€26,628
down €26,628 (-100%), from €26,628 to €0
- Tax, wage and social debts +€15,448
up €15,448 (+96.2%), from €16,055 to €31,503
- Provisions +€49,563
new in 2025: €49,563
- Gross operating margin -€18,369
down €18,369 (-7,198%), from -€255 to -€18,624
- Depreciation +€1,709
up €1,709 (+31.3%), from €5,467 to €7,175
- Financial income +€439
new in 2025: €439
- Financial charges +€314
up €314 (+10.4%), from €3,019 to €3,334
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,305 | €60,768 | -€3,537 | -5.5% |
| Fixed assets | 21/28 | €20,031 | €15,008 | -€5,023 | -25.1% |
| Tangible fixed assets | 22/27 | €20,031 | €15,008 | -€5,023 | -25.1% |
| Furniture and vehicles | 24 | €9,362 | €5,303 | -€4,059 | -43.4% |
| Leasing and similar rights | 25 | €2,212 | €859 | -€1,353 | -61.1% |
| Other tangible fixed assets | 26 | €8,457 | €8,845 | +€389 | +4.6% |
| Current assets | 29/58 | €44,274 | €45,760 | +€1,486 | +3.4% |
| Amounts receivable within one year | 40/41 | €16,051 | €33,565 | +€17,514 | +109% |
| Trade receivables | 40 | €6,050 | €10,610 | +€4,560 | +75.4% |
| Other amounts receivable | 41 | €10,001 | €22,956 | +€12,954 | +130% |
| Cash at bank and in hand | 54/58 | €27,935 | €11,071 | -€16,864 | -60.4% |
| Deferred charges and accrued income | 490/1 | €288 | €1,124 | +€837 | +291% |
| Total equity and liabilities | 10/49 | €64,305 | €60,768 | -€3,537 | -5.5% |
| Equity | 10/15 | €19,625 | -€59,904 | -€79,529 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,125 | -€62,404 | -€79,529 | |
| Provisions and deferred taxes | 16 | - | €49,563 | +€49,563 | |
| Provisions for liabilities and charges | 160/5 | - | €49,563 | +€49,563 | |
| Other liabilities and charges | 164/5 | - | €49,563 | +€49,563 | |
| Amounts payable | 17/49 | €44,680 | €71,109 | +€26,429 | +59.2% |
| Amounts payable within one year | 42/48 | €43,764 | €70,192 | +€26,428 | +60.4% |
| Trade debts | 44 | €1,081 | €38,689 | +€37,608 | +3,480% |
| Suppliers | 440/4 | €1,081 | €38,689 | +€37,608 | +3,480% |
| Taxes, remuneration and social security | 45 | €16,055 | €31,503 | +€15,448 | +96.2% |
| Taxes | 450/3 | €16,055 | €31,503 | +€15,448 | +96.2% |
| Other amounts payable | 47/48 | €26,628 | €0 | -€26,628 | -100% |
| Accrued charges and deferred income | 492/3 | €916 | €917 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,467 | €7,175 | +€1,709 | +31.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €49,563 | +€49,563 | |
| Other operating charges | 640/8 | €707 | €922 | +€215 | +30.4% |
| Gross operating margin | 9900 | -€255 | -€18,624 | -€18,369 | -7,198% |
| Operating profit (loss) | 9901 | -€6,429 | -€76,285 | -€69,856 | -1,087% |
| Financial income | 75/76B | - | €439 | +€439 | |
| Recurring financial income | 75 | - | €439 | +€439 | |
| Financial charges | 65/66B | €3,019 | €3,334 | +€314 | +10.4% |
| Recurring financial charges | 65 | €3,019 | €3,334 | +€314 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,449 | -€79,179 | -€69,731 | -738% |
| Income taxes | 67/77 | €218 | €350 | +€132 | +60.3% |
| Profit (loss) for the period | 9904 | -€9,667 | -€79,529 | -€69,862 | -723% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,667 | -€79,529 | -€69,862 | -723% |
Next steps
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.