MSSC: 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.
MSSC
Largest movements
- Cash +€28,772
up €28,772 (+45.8%), from €62,824 to €91,595
mainly Net result for the year (+€47,330) and Deferred charges and accrued income (+€9,828)
- Receivables within one year +€14,545
up €14,545 (+135%), from €10,741 to €25,286
of which Trade receivables: +€14,379
- Deferred charges and accrued income -€9,828
down €9,828 (-53.5%), from €18,385 to €8,556
- Tangible fixed assets +€7,202
up €7,202 (+43.0%), from €16,749 to €23,951
of which Other tangible fixed assets: +€7,691
- Reserves +€47,330
up €47,330 (+87.4%), from €54,166 to €101,496
- Tax, wage and social debts -€11,586
down €11,586 (-70.9%), from €16,336 to €4,750
- Other debts +€3,939
up €3,939 (+11.9%), from €33,197 to €37,136
- Gross operating margin +€6,381
up €6,381 (+10.1%), from €62,952 to €69,333
- Depreciation +€1,439
up €1,439 (+22.7%), from €6,352 to €7,791
- Other operating charges -€957
down €957 (-61.4%), from €1,559 to €602
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,698 | €149,389 | +€40,691 | +37.4% |
| Fixed assets | 21/28 | €16,749 | €23,951 | +€7,202 | +43.0% |
| Tangible fixed assets | 22/27 | €16,749 | €23,951 | +€7,202 | +43.0% |
| Plant, machinery and equipment | 23 | €1,330 | €279 | -€1,051 | -79.0% |
| Furniture and vehicles | 24 | €9,778 | €10,340 | +€563 | +5.8% |
| Other tangible fixed assets | 26 | €5,641 | €13,332 | +€7,691 | +136% |
| Current assets | 29/58 | €91,949 | €125,437 | +€33,488 | +36.4% |
| Amounts receivable within one year | 40/41 | €10,741 | €25,286 | +€14,545 | +135% |
| Trade receivables | 40 | €10,582 | €24,961 | +€14,379 | +136% |
| Other amounts receivable | 41 | €159 | €325 | +€166 | +105% |
| Cash at bank and in hand | 54/58 | €62,824 | €91,595 | +€28,772 | +45.8% |
| Deferred charges and accrued income | 490/1 | €18,385 | €8,556 | -€9,828 | -53.5% |
| Total equity and liabilities | 10/49 | €108,698 | €149,389 | +€40,691 | +37.4% |
| Equity | 10/15 | €59,166 | €106,496 | +€47,330 | +80.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,166 | €101,496 | +€47,330 | +87.4% |
| Distributable reserves | 133 | €54,166 | €101,496 | +€47,330 | +87.4% |
| Amounts payable | 17/49 | €49,533 | €42,893 | -€6,639 | -13.4% |
| Amounts payable within one year | 42/48 | €49,533 | €42,893 | -€6,639 | -13.4% |
| Trade debts | 44 | - | €1,007 | +€1,007 | |
| Suppliers | 440/4 | - | €1,007 | +€1,007 | |
| Taxes, remuneration and social security | 45 | €16,336 | €4,750 | -€11,586 | -70.9% |
| Taxes | 450/3 | €16,336 | €4,750 | -€11,586 | -70.9% |
| Other amounts payable | 47/48 | €33,197 | €37,136 | +€3,939 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,352 | €7,791 | +€1,439 | +22.7% |
| Other operating charges | 640/8 | €1,559 | €602 | -€957 | -61.4% |
| Gross operating margin | 9900 | €62,952 | €69,333 | +€6,381 | +10.1% |
| Operating profit (loss) | 9901 | €55,042 | €60,940 | +€5,898 | +10.7% |
| Financial income | 75/76B | €24 | - | -€24 | |
| Recurring financial income | 75 | €24 | - | -€24 | |
| Financial charges | 65/66B | €2,125 | €1,836 | -€289 | -13.6% |
| Recurring financial charges | 65 | €2,125 | €1,836 | -€289 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €52,940 | €59,104 | +€6,164 | +11.6% |
| Income taxes | 67/77 | €11,388 | €11,774 | +€386 | +3.4% |
| Profit (loss) for the period | 9904 | €41,552 | €47,330 | +€5,778 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,552 | €47,330 | +€5,778 | +13.9% |
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 14 October 2026 via checked.be.