MAS BXL: 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 BXL
Largest movements
- Receivables within one year -€82,405
down €82,405 (-18.3%), from €449,502 to €367,097
of which Trade receivables: -€47,464
- Cash -€30,616
down €30,616 (-89.0%), from €34,394 to €3,778
mainly Advances received (-€71,779) and Trade debts (-€39,262)
- Stocks and contracts -€6,190
down €6,190 (-26.9%), from €23,000 to €16,810
- Advances received -€71,779
down €71,779 (-30.6%), from €234,232 to €162,453
- Trade debts -€39,262
down €39,262 (-17.7%), from €221,238 to €181,976
- Other debts -€13,408
no longer reported in 2023 (was €13,408)
- Gross operating margin -€40,745
down €40,745 (-75.6%), from €53,892 to €13,147
- Staff costs -€3,565
down €3,565 (-33.7%), from €10,573 to €7,008
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €537,549 | €412,170 | -€125,380 | -23.3% |
| Fixed assets | 21/28 | €27,397 | €24,140 | -€3,257 | -11.9% |
| Tangible fixed assets | 22/27 | €23,813 | €20,556 | -€3,257 | -13.7% |
| Furniture and vehicles | 24 | €23,813 | €20,556 | -€3,257 | -13.7% |
| Financial fixed assets | 28 | €3,584 | €3,584 | = | 0.0% |
| Current assets | 29/58 | €510,152 | €388,030 | -€122,123 | -23.9% |
| Stocks and contracts in progress | 3 | €23,000 | €16,810 | -€6,190 | -26.9% |
| Stocks | 30/36 | €23,000 | €16,810 | -€6,190 | -26.9% |
| Amounts receivable within one year | 40/41 | €449,502 | €367,097 | -€82,405 | -18.3% |
| Trade receivables | 40 | €402,703 | €355,239 | -€47,464 | -11.8% |
| Other amounts receivable | 41 | €46,799 | €11,858 | -€34,941 | -74.7% |
| Cash at bank and in hand | 54/58 | €34,394 | €3,778 | -€30,616 | -89.0% |
| Deferred charges and accrued income | 490/1 | €3,256 | €344 | -€2,912 | -89.4% |
| Total equity and liabilities | 10/49 | €537,549 | €412,170 | -€125,380 | -23.3% |
| Equity | 10/15 | €44,813 | €47,358 | +€2,545 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,353 | €26,898 | +€2,545 | +10.4% |
| Amounts payable | 17/49 | €492,736 | €364,811 | -€127,925 | -26.0% |
| Amounts payable after more than one year | 17 | €22,879 | €18,389 | -€4,490 | -19.6% |
| Financial debts | 170/4 | €22,879 | €18,389 | -€4,490 | -19.6% |
| Amounts payable within one year | 42/48 | €469,857 | €346,422 | -€123,435 | -26.3% |
| Trade debts | 44 | €221,238 | €181,976 | -€39,262 | -17.7% |
| Suppliers | 440/4 | €221,238 | €181,976 | -€39,262 | -17.7% |
| Advances received on contracts in progress | 46 | €234,232 | €162,453 | -€71,779 | -30.6% |
| Taxes, remuneration and social security | 45 | €979 | €1,993 | +€1,014 | +104% |
| Taxes | 450/3 | €274 | €274 | = | 0.0% |
| Remuneration and social security | 454/9 | €705 | €1,720 | +€1,014 | +144% |
| Other amounts payable | 47/48 | €13,408 | - | -€13,408 | |
| Remuneration, social security and pensions | 62 | €10,573 | €7,008 | -€3,565 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,257 | €3,257 | +€0 | 0.0% |
| Other operating charges | 640/8 | €434 | €98 | -€336 | -77.4% |
| Gross operating margin | 9900 | €53,892 | €13,147 | -€40,745 | -75.6% |
| Operating profit (loss) | 9901 | €39,628 | €2,784 | -€36,844 | -93.0% |
| Financial charges | 65/66B | €175 | €239 | +€64 | +36.4% |
| Recurring financial charges | 65 | €175 | €239 | +€64 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €39,453 | €2,545 | -€36,908 | -93.5% |
| Income taxes | 67/77 | €358 | - | -€358 | |
| Profit (loss) for the period | 9904 | €39,095 | €2,545 | -€36,550 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,095 | €2,545 | -€36,550 | -93.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.