Mas: 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.
Mas
Largest movements
- Tangible fixed assets -€14,225
down €14,225 (-36.3%), from €39,185 to €24,960
of which Furniture and vehicles: -€7,200
- Cash -€6,594
down €6,594 (-8.6%), from €76,995 to €70,401
mainly Net result for the year (-€22,794) and Tax, wage and social debts (-€5,783)
- Receivables within one year -€6,407
down €6,407 (-63.1%), from €10,158 to €3,751
of which Trade receivables: -€10,067
- Profit (loss) carried forward -€22,794
down €22,794 (-36.4%), from €62,536 to €39,742
- Tax, wage and social debts -€5,783
down €5,783 (-26.9%), from €21,532 to €15,750
of which Remuneration and social security: -€4,425
- Other debts +€4,425
up €4,425 (+12.2%), from €36,188 to €40,614
- Trade debts -€3,028
down €3,028 (-84.6%), from €3,581 to €553
- Gross operating margin -€101,160
down €101,160, from €93,146 to -€8,014
- Taxes -€15,750
no longer reported in 2025 (was €15,750)
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.
Cash bridge derived
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 | €126,338 | €99,158 | -€27,180 | -21.5% |
| Fixed assets | 21/28 | €39,185 | €24,960 | -€14,225 | -36.3% |
| Tangible fixed assets | 22/27 | €39,185 | €24,960 | -€14,225 | -36.3% |
| Plant, machinery and equipment | 23 | €13,979 | €6,954 | -€7,025 | -50.3% |
| Furniture and vehicles | 24 | €25,206 | €18,005 | -€7,200 | -28.6% |
| Current assets | 29/58 | €87,153 | €74,198 | -€12,955 | -14.9% |
| Amounts receivable within one year | 40/41 | €10,158 | €3,751 | -€6,407 | -63.1% |
| Trade receivables | 40 | €10,067 | - | -€10,067 | |
| Other amounts receivable | 41 | €91 | €3,751 | +€3,660 | +4023.9% |
| Cash at bank and in hand | 54/58 | €76,995 | €70,401 | -€6,594 | -8.6% |
| Deferred charges and accrued income | 490/1 | - | €46 | +€46 | |
| Total equity and liabilities | 10/49 | €126,338 | €99,158 | -€27,180 | -21.5% |
| Equity | 10/15 | €65,036 | €42,242 | -€22,794 | -35.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,536 | €39,742 | -€22,794 | -36.4% |
| Amounts payable | 17/49 | €61,302 | €56,916 | -€4,386 | -7.2% |
| Amounts payable within one year | 42/48 | €61,302 | €56,916 | -€4,386 | -7.2% |
| Trade debts | 44 | €3,581 | €553 | -€3,028 | -84.6% |
| Suppliers | 440/4 | €3,581 | €553 | -€3,028 | -84.6% |
| Taxes, remuneration and social security | 45 | €21,532 | €15,750 | -€5,783 | -26.9% |
| Taxes | 450/3 | €17,107 | €15,750 | -€1,358 | -7.9% |
| Remuneration and social security | 454/9 | €4,425 | - | -€4,425 | |
| Other amounts payable | 47/48 | €36,188 | €40,614 | +€4,425 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,264 | €14,225 | -€39 | -0.3% |
| Other operating charges | 640/8 | €275 | €367 | +€92 | +33.4% |
| Gross operating margin | 9900 | €93,146 | -€8,014 | -€101,160 | |
| Operating profit (loss) | 9901 | €78,607 | -€22,606 | -€101,213 | |
| Financial income | 75/76B | €102 | - | -€102 | |
| Recurring financial income | 75 | €102 | - | -€102 | |
| Financial charges | 65/66B | €423 | €188 | -€235 | -55.6% |
| Recurring financial charges | 65 | €423 | €188 | -€235 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €78,285 | -€22,794 | -€101,079 | |
| Income taxes | 67/77 | €15,750 | - | -€15,750 | |
| Profit (loss) for the period | 9904 | €62,536 | -€22,794 | -€85,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,536 | -€22,794 | -€85,330 |
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 10 October 2026 via checked.be.