MSSL: 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.
MSSL
Largest movements
- Cash +€64,462
up €64,462 (+155%), from €41,718 to €106,180
mainly Net result for the year (+€63,254) and Tax, wage and social debts (+€7,363)
- Profit (loss) carried forward +€63,254
up €63,254 (+248%), from €25,548 to €88,802
- Tax, wage and social debts +€7,363
up €7,363 (+75.3%), from €9,772 to €17,135
- Other debts -€4,639
no longer reported in 2025 (was €4,639)
- Gross operating margin +€46,757
up €46,757 (+140%), from €33,366 to €80,123
- Taxes +€9,578
up €9,578 (+147%), from €6,530 to €16,108
- Depreciation -€1,022
down €1,022 (-81.4%), from €1,256 to €234
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 | €42,585 | €108,435 | +€65,850 | +155% |
| Fixed assets | 21/28 | €221 | €699 | +€478 | +216% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €221 | €699 | +€478 | +216% |
| Furniture and vehicles | 24 | €221 | €699 | +€478 | +216% |
| Current assets | 29/58 | €42,364 | €107,737 | +€65,372 | +154% |
| Amounts receivable within one year | 40/41 | €470 | €1,379 | +€909 | +193% |
| Other amounts receivable | 41 | €470 | €1,379 | +€909 | +193% |
| Cash at bank and in hand | 54/58 | €41,718 | €106,180 | +€64,462 | +155% |
| Deferred charges and accrued income | 490/1 | €177 | €178 | +€1 | +0.6% |
| Total equity and liabilities | 10/49 | €42,585 | €108,435 | +€65,850 | +155% |
| Equity | 10/15 | €27,048 | €90,302 | +€63,254 | +234% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,548 | €88,802 | +€63,254 | +248% |
| Amounts payable | 17/49 | €15,537 | €18,133 | +€2,596 | +16.7% |
| Amounts payable within one year | 42/48 | €15,537 | €18,133 | +€2,596 | +16.7% |
| Trade debts | 44 | €1,126 | €998 | -€128 | -11.3% |
| Suppliers | 440/4 | €1,126 | €998 | -€128 | -11.3% |
| Taxes, remuneration and social security | 45 | €9,772 | €17,135 | +€7,363 | +75.3% |
| Taxes | 450/3 | €9,772 | €17,135 | +€7,363 | +75.3% |
| Other amounts payable | 47/48 | €4,639 | - | -€4,639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,256 | €234 | -€1,022 | -81.4% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | €33,366 | €80,123 | +€46,757 | +140% |
| Operating profit (loss) | 9901 | €32,111 | €79,102 | +€46,992 | +146% |
| Financial income | 75/76B | - | €296 | +€296 | |
| Recurring financial income | 75 | - | €296 | +€296 | |
| Financial charges | 65/66B | €33 | €37 | +€5 | +13.9% |
| Recurring financial charges | 65 | €33 | €37 | +€5 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €32,078 | €79,362 | +€47,283 | +147% |
| Income taxes | 67/77 | €6,530 | €16,108 | +€9,578 | +147% |
| Profit (loss) for the period | 9904 | €25,548 | €63,254 | +€37,706 | +148% |
| Profit (loss) for the period to be appropriated | 9905 | €25,548 | €63,254 | +€37,706 | +148% |
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 17 October 2026 via checked.be.