MSSB: 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.
MSSB
Largest movements
- Receivables within one year +€11,909
up €11,909 (+333%), from €3,577 to €15,487
of which Trade receivables: +€10,440
- Cash +€8,552
up €8,552 (+21.4%), from €40,035 to €48,587
mainly Net result for the year (+€11,528) and Depreciation (+€7,937)
- Tangible fixed assets -€7,937
down €7,937 (-29.0%), from €27,373 to €19,436
of which Furniture and vehicles: -€6,138
- Stocks and contracts +€1,376
new in 2026: €1,376
- Profit (loss) carried forward +€11,528
up €11,528 (+57.8%), from €19,955 to €31,483
- Trade debts +€6,585
up €6,585 (+31.9%), from €20,638 to €27,223
- Debts after one year -€3,167
down €3,167 (-38.7%), from €8,184 to €5,017
- Tax, wage and social debts -€1,336
no longer reported in 2026 (was €1,336)
- Other debts +€940
up €940 (+15.2%), from €6,179 to €7,120
- Gross operating margin +€13,516
up €13,516 (+120%), from €11,300 to €24,816
- Taxes +€2,621
up €2,621 (+196%), from €1,336 to €3,957
- Financial charges +€424
up €424 (+122%), from €347 to €771
- Other operating charges +€408
up €408 (+131%), from €311 to €720
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,163 | €85,510 | +€14,347 | +20.2% |
| Fixed assets | 21/28 | €27,373 | €19,436 | -€7,937 | -29.0% |
| Tangible fixed assets | 22/27 | €27,373 | €19,436 | -€7,937 | -29.0% |
| Land and buildings | 22 | €14,091 | €12,291 | -€1,800 | -12.8% |
| Furniture and vehicles | 24 | €13,282 | €7,145 | -€6,138 | -46.2% |
| Current assets | 29/58 | €43,790 | €66,074 | +€22,284 | +50.9% |
| Stocks and contracts in progress | 3 | - | €1,376 | +€1,376 | |
| Stocks | 30/36 | - | €1,376 | +€1,376 | |
| Amounts receivable within one year | 40/41 | €3,577 | €15,487 | +€11,909 | +333% |
| Trade receivables | 40 | €55 | €10,495 | +€10,440 | +19,087% |
| Other amounts receivable | 41 | €3,523 | €4,992 | +€1,469 | +41.7% |
| Cash at bank and in hand | 54/58 | €40,035 | €48,587 | +€8,552 | +21.4% |
| Deferred charges and accrued income | 490/1 | €178 | €624 | +€446 | +251% |
| Total equity and liabilities | 10/49 | €71,163 | €85,510 | +€14,347 | +20.2% |
| Equity | 10/15 | €29,955 | €41,483 | +€11,528 | +38.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,955 | €31,483 | +€11,528 | +57.8% |
| Amounts payable | 17/49 | €41,208 | €44,027 | +€2,819 | +6.8% |
| Amounts payable after more than one year | 17 | €8,184 | €5,017 | -€3,167 | -38.7% |
| Financial debts | 170/4 | €8,184 | €5,017 | -€3,167 | -38.7% |
| Amounts payable within one year | 42/48 | €31,274 | €37,510 | +€6,236 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €3,121 | €3,167 | +€47 | +1.5% |
| Trade debts | 44 | €20,638 | €27,223 | +€6,585 | +31.9% |
| Suppliers | 440/4 | €20,638 | €27,223 | +€6,585 | +31.9% |
| Taxes, remuneration and social security | 45 | €1,336 | - | -€1,336 | |
| Taxes | 450/3 | €1,336 | - | -€1,336 | |
| Other amounts payable | 47/48 | €6,179 | €7,120 | +€940 | +15.2% |
| Accrued charges and deferred income | 492/3 | €1,750 | €1,500 | -€250 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,937 | €7,937 | = | 0.0% |
| Other operating charges | 640/8 | €311 | €720 | +€408 | +131% |
| Gross operating margin | 9900 | €11,300 | €24,816 | +€13,516 | +120% |
| Operating profit (loss) | 9901 | €3,052 | €16,159 | +€13,108 | +430% |
| Financial income | 75/76B | €27 | €97 | +€69 | +254% |
| Recurring financial income | 75 | €27 | €97 | +€69 | +254% |
| Financial charges | 65/66B | €347 | €771 | +€424 | +122% |
| Recurring financial charges | 65 | €347 | €771 | +€424 | +122% |
| Profit (loss) for the period before taxes | 9903 | €2,732 | €15,485 | +€12,753 | +467% |
| Income taxes | 67/77 | €1,336 | €3,957 | +€2,621 | +196% |
| Profit (loss) for the period | 9904 | €1,396 | €11,528 | +€10,131 | +726% |
| Profit (loss) for the period to be appropriated | 9905 | €1,396 | €11,528 | +€10,131 | +726% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.