MAS BNL: 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 BNL
Largest movements
- Cash +€195,768
up €195,768 (+165%), from €118,664 to €314,432
mainly Trade debts (+€237,676) and Net result for the year (+€55,397)
- Receivables within one year +€98,679
up €98,679 (+18.9%), from €522,082 to €620,761
of which Trade receivables: +€113,789
- Deferred charges and accrued income -€20,002
down €20,002 (-97.7%), from €20,474 to €472
- Trade debts +€237,676
up €237,676 (+56.8%), from €418,428 to €656,104
- Reserves +€55,397
up €55,397 (+257%), from €21,529 to €76,926
of which Distributable reserves: +€55,397
- Tax, wage and social debts -€21,601
down €21,601 (-35.6%), from €60,722 to €39,121
of which Remuneration and social security: -€13,116
- Gross operating margin +€442,286
up €442,286 (+146%), from €303,125 to €745,411
- Staff costs +€300,209
up €300,209 (+81.6%), from €367,859 to €668,069
- Taxes +€13,280
up €13,280 (+2,134%), from €622 to €13,902
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 | €664,187 | €935,846 | +€271,660 | +40.9% |
| Fixed assets | 21/28 | €2,966 | €181 | -€2,786 | -93.9% |
| Tangible fixed assets | 22/27 | €2,966 | €181 | -€2,786 | -93.9% |
| Plant, machinery and equipment | 23 | €2,604 | €181 | -€2,423 | -93.1% |
| Furniture and vehicles | 24 | €363 | €0 | -€363 | -100% |
| Current assets | 29/58 | €661,220 | €935,666 | +€274,445 | +41.5% |
| Amounts receivable within one year | 40/41 | €522,082 | €620,761 | +€98,679 | +18.9% |
| Trade receivables | 40 | €498,758 | €612,547 | +€113,789 | +22.8% |
| Other amounts receivable | 41 | €23,324 | €8,214 | -€15,110 | -64.8% |
| Cash at bank and in hand | 54/58 | €118,664 | €314,432 | +€195,768 | +165% |
| Deferred charges and accrued income | 490/1 | €20,474 | €472 | -€20,002 | -97.7% |
| Total equity and liabilities | 10/49 | €664,187 | €935,846 | +€271,660 | +40.9% |
| Equity | 10/15 | €98,449 | €153,846 | +€55,397 | +56.3% |
| Contributions | 10/11 | €76,920 | €76,920 | = | 0.0% |
| Capital | 10 | €76,920 | €76,920 | = | 0.0% |
| Issued capital | 100 | €76,920 | €76,920 | = | 0.0% |
| Reserves | 13 | €21,529 | €76,926 | +€55,397 | +257% |
| Non-distributable reserves | 130/1 | €7,692 | €7,692 | = | 0.0% |
| Legal reserve | 130 | €7,692 | €7,692 | = | 0.0% |
| Distributable reserves | 133 | €13,837 | €69,234 | +€55,397 | +400% |
| Amounts payable | 17/49 | €565,738 | €782,000 | +€216,262 | +38.2% |
| Amounts payable within one year | 42/48 | €565,738 | €782,000 | +€216,262 | +38.2% |
| Trade debts | 44 | €418,428 | €656,104 | +€237,676 | +56.8% |
| Suppliers | 440/4 | €418,428 | €656,104 | +€237,676 | +56.8% |
| Taxes, remuneration and social security | 45 | €60,722 | €39,121 | -€21,601 | -35.6% |
| Taxes | 450/3 | €9,290 | €805 | -€8,485 | -91.3% |
| Remuneration and social security | 454/9 | €51,433 | €38,317 | -€13,116 | -25.5% |
| Other amounts payable | 47/48 | €86,587 | €86,775 | +€188 | +0.2% |
| Remuneration, social security and pensions | 62 | €367,859 | €668,069 | +€300,209 | +81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,086 | €2,786 | -€301 | -9.7% |
| Other operating charges | 640/8 | €393 | €429 | +€36 | +9.1% |
| Gross operating margin | 9900 | €303,125 | €745,411 | +€442,286 | +146% |
| Operating profit (loss) | 9901 | -€68,214 | €74,127 | +€142,341 | |
| Financial income | 75/76B | €75 | €0 | -€75 | -100% |
| Recurring financial income | 75 | €75 | €0 | -€75 | -100% |
| Financial charges | 65/66B | €7,481 | €4,828 | -€2,653 | -35.5% |
| Recurring financial charges | 65 | €7,481 | €4,828 | -€2,653 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | -€75,620 | €69,300 | +€144,919 | |
| Income taxes | 67/77 | €622 | €13,902 | +€13,280 | +2,134% |
| Profit (loss) for the period | 9904 | -€76,242 | €55,397 | +€131,639 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,242 | €55,397 | +€131,639 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.