M.A.S.H.: 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.
M.A.S.H.
Largest movements
- Receivables within one year +€16,432
up €16,432 (+18.1%), from €90,706 to €107,138
of which Other amounts receivable: +€15,784
- Stocks and contracts -€15,000
down €15,000 (-36.1%), from €41,500 to €26,500
- Cash +€13,494
up €13,494 (+396%), from €3,408 to €16,902
mainly Net result for the year (+€39,039) and Stocks and contracts (+€15,000)
- Tangible fixed assets -€8,375
down €8,375 (-7.4%), from €113,863 to €105,488
of which Land and buildings: -€5,231
- Profit (loss) carried forward +€39,039
up €39,039 (+14.5%), from -€269,235 to -€230,196
- Advances received -€23,983
no longer reported in 2022 (was €23,983)
- Trade debts -€7,027
down €7,027 (-31.0%), from €22,644 to €15,618
- Gross operating margin +€107,297
up €107,297, from -€43,681 to €63,616
- Financial charges +€26,207
up €26,207 (+18,327%), from €143 to €26,350
of which Non-recurring financial charges: +€24,612
- Financial income +€8,979
up €8,979 (+180%), from €4,989 to €13,968
of which Non-recurring financial income: +€10,000
- Depreciation -€1,305
down €1,305 (-12.1%), from €10,795 to €9,490
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €250,081 | €256,639 | +€6,558 | +2.6% |
| Fixed assets | 21/28 | €114,309 | €105,934 | -€8,375 | -7.3% |
| Tangible fixed assets | 22/27 | €113,863 | €105,488 | -€8,375 | -7.4% |
| Land and buildings | 22 | €105,831 | €100,600 | -€5,231 | -4.9% |
| Plant, machinery and equipment | 23 | €708 | €1,226 | +€517 | +73.0% |
| Furniture and vehicles | 24 | €7,324 | €3,662 | -€3,662 | -50.0% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €135,771 | €150,705 | +€14,934 | +11.0% |
| Stocks and contracts in progress | 3 | €41,500 | €26,500 | -€15,000 | -36.1% |
| Stocks | 30/36 | €41,500 | €26,500 | -€15,000 | -36.1% |
| Amounts receivable within one year | 40/41 | €90,706 | €107,138 | +€16,432 | +18.1% |
| Trade receivables | 40 | €24,000 | €24,648 | +€648 | +2.7% |
| Other amounts receivable | 41 | €66,706 | €82,490 | +€15,784 | +23.7% |
| Cash at bank and in hand | 54/58 | €3,408 | €16,902 | +€13,494 | +396% |
| Deferred charges and accrued income | 490/1 | €157 | €166 | +€8 | +5.2% |
| Total equity and liabilities | 10/49 | €250,081 | €256,639 | +€6,558 | +2.6% |
| Equity | 10/15 | €180,765 | €219,804 | +€39,039 | +21.6% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€269,235 | -€230,196 | +€39,039 | +14.5% |
| Amounts payable | 17/49 | €69,316 | €36,835 | -€32,481 | -46.9% |
| Amounts payable within one year | 42/48 | €69,316 | €36,835 | -€32,481 | -46.9% |
| Trade debts | 44 | €22,644 | €15,618 | -€7,027 | -31.0% |
| Suppliers | 440/4 | €22,644 | €15,618 | -€7,027 | -31.0% |
| Advances received on contracts in progress | 46 | €23,983 | - | -€23,983 | |
| Taxes, remuneration and social security | 45 | €1,689 | - | -€1,689 | |
| Taxes | 450/3 | €1,689 | - | -€1,689 | |
| Other amounts payable | 47/48 | €21,000 | €21,218 | +€218 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,795 | €9,490 | -€1,305 | -12.1% |
| Other operating charges | 640/8 | €3,107 | €2,705 | -€402 | -12.9% |
| Gross operating margin | 9900 | -€43,681 | €63,616 | +€107,297 | |
| Operating profit (loss) | 9901 | -€57,583 | €51,421 | +€109,004 | |
| Financial income | 75/76B | €4,989 | €13,968 | +€8,979 | +180% |
| Recurring financial income | 75 | €4,989 | €3,968 | -€1,021 | -20.5% |
| Non-recurring financial income | 76B | - | €10,000 | +€10,000 | |
| Financial charges | 65/66B | €143 | €26,350 | +€26,207 | +18,327% |
| Recurring financial charges | 65 | €143 | €1,738 | +€1,595 | +1,116% |
| Non-recurring financial charges | 66B | - | €24,612 | +€24,612 | |
| Profit (loss) for the period before taxes | 9903 | -€52,736 | €39,039 | +€91,776 | |
| Profit (loss) for the period | 9904 | -€52,736 | €39,039 | +€91,776 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,736 | €39,039 | +€91,776 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.