MAS DRIVE: 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 DRIVE
Largest movements
- Stocks and contracts -€2,417
down €2,417 (-24.4%), from €9,917 to €7,500
- Tangible fixed assets -€2,347
down €2,347 (-33.7%), from €6,961 to €4,614
of which Plant, machinery and equipment: -€2,182
- Receivables within one year -€968
down €968 (-21.8%), from €4,445 to €3,477
of which Other amounts receivable: -€1,306
- Profit (loss) carried forward -€3,592
down €3,592 (-39.1%), from -€9,184 to -€12,776
- Trade debts -€2,442
down €2,442 (-78.6%), from €3,105 to €663
- Short-term financial debts +€280
new in 2025: €280
- Gross operating margin +€2,147
up €2,147 (+72.3%), from -€2,969 to -€823
- Other operating charges +€124
up €124 (+200%), from €62 to €186
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 | €21,533 | €15,630 | -€5,903 | -27.4% |
| Fixed assets | 21/28 | €6,961 | €4,614 | -€2,347 | -33.7% |
| Tangible fixed assets | 22/27 | €6,961 | €4,614 | -€2,347 | -33.7% |
| Land and buildings | 22 | €4,522 | €4,356 | -€166 | -3.7% |
| Plant, machinery and equipment | 23 | €2,439 | €258 | -€2,182 | -89.4% |
| Current assets | 29/58 | €14,572 | €11,017 | -€3,555 | -24.4% |
| Stocks and contracts in progress | 3 | €9,917 | €7,500 | -€2,417 | -24.4% |
| Stocks | 30/36 | €9,917 | €7,500 | -€2,417 | -24.4% |
| Amounts receivable within one year | 40/41 | €4,445 | €3,477 | -€968 | -21.8% |
| Trade receivables | 40 | - | €338 | +€338 | |
| Other amounts receivable | 41 | €4,445 | €3,139 | -€1,306 | -29.4% |
| Cash at bank and in hand | 54/58 | €42 | €40 | -€3 | -6.6% |
| Deferred charges and accrued income | 490/1 | €167 | - | -€167 | |
| Total equity and liabilities | 10/49 | €21,533 | €15,630 | -€5,903 | -27.4% |
| Equity | 10/15 | €10,816 | €7,224 | -€3,592 | -33.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,184 | -€12,776 | -€3,592 | -39.1% |
| Amounts payable | 17/49 | €10,717 | €8,406 | -€2,311 | -21.6% |
| Amounts payable within one year | 42/48 | €10,717 | €8,406 | -€2,311 | -21.6% |
| Financial debts | 43 | - | €280 | +€280 | |
| Credit institutions | 430/8 | - | €280 | +€280 | |
| Trade debts | 44 | €3,105 | €663 | -€2,442 | -78.6% |
| Suppliers | 440/4 | €3,105 | €663 | -€2,442 | -78.6% |
| Other amounts payable | 47/48 | €7,612 | €7,463 | -€149 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,347 | €2,347 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €186 | +€124 | +200% |
| Gross operating margin | 9900 | -€2,969 | -€823 | +€2,147 | +72.3% |
| Operating profit (loss) | 9901 | -€5,379 | -€3,356 | +€2,023 | +37.6% |
| Financial income | 75/76B | €24 | €0 | -€23 | -99.6% |
| Recurring financial income | 75 | €24 | €0 | -€23 | -99.6% |
| Financial charges | 65/66B | €248 | €236 | -€12 | -4.8% |
| Recurring financial charges | 65 | €248 | €236 | -€12 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,603 | -€3,592 | +€2,011 | +35.9% |
| Profit (loss) for the period | 9904 | -€5,603 | -€3,592 | +€2,011 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,603 | -€3,592 | +€2,011 | +35.9% |
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 25 October 2026 via checked.be.