MAS LOGISTICS: what changed
Two fiscal 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 LOGISTICS
Largest movements
- Receivables within one year -€509,377
down €509,377 (-92.0%), from €553,490 to €44,112
of which Trade receivables: -€471,412
- Trade debts -€511,859
down €511,859 (-100.0%), from €511,869 to €10
- Gross operating margin +€28,925
up €28,925, from -€6,967 to €21,957
- Other operating charges +€21,072
up €21,072 (+5359.4%), from €393 to €21,465
- Financial income -€2,412
no longer reported in 2025 (was €2,412)
- Financial charges +€252
new in 2025: €252
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 | €553,612 | €44,254 | -€509,358 | -92.0% |
| Current assets | 29/58 | €553,612 | €44,254 | -€509,358 | -92.0% |
| Amounts receivable within one year | 40/41 | €553,490 | €44,112 | -€509,377 | -92.0% |
| Trade receivables | 40 | €483,483 | €12,072 | -€471,412 | -97.5% |
| Other amounts receivable | 41 | €70,006 | €32,041 | -€37,966 | -54.2% |
| Cash at bank and in hand | 54/58 | €122 | €17 | -€105 | -86.1% |
| Deferred charges and accrued income | 490/1 | - | €124 | +€124 | |
| Total equity and liabilities | 10/49 | €553,612 | €44,254 | -€509,358 | -92.0% |
| Equity | 10/15 | €39,463 | €39,703 | +€240 | +0.6% |
| Contributions | 10/11 | €2,525 | €2,525 | = | 0.0% |
| Reserves | 13 | €41,886 | €41,886 | = | 0.0% |
| Distributable reserves | 133 | €41,886 | €41,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,948 | -€4,708 | +€240 | +4.9% |
| Amounts payable | 17/49 | €514,149 | €4,551 | -€509,598 | -99.1% |
| Amounts payable within one year | 42/48 | €514,149 | €4,551 | -€509,598 | -99.1% |
| Trade debts | 44 | €511,869 | €10 | -€511,859 | -100.0% |
| Suppliers | 440/4 | €511,869 | €10 | -€511,859 | -100.0% |
| Other amounts payable | 47/48 | €2,280 | €4,541 | +€2,261 | +99.2% |
| Other operating charges | 640/8 | €393 | €21,465 | +€21,072 | +5359.4% |
| Gross operating margin | 9900 | -€6,967 | €21,957 | +€28,925 | |
| Operating profit (loss) | 9901 | -€7,360 | €492 | +€7,852 | |
| Financial income | 75/76B | €2,412 | - | -€2,412 | |
| Recurring financial income | 75 | €2,412 | - | -€2,412 | |
| Financial charges | 65/66B | - | €252 | +€252 | |
| Recurring financial charges | 65 | - | €252 | +€252 | |
| Profit (loss) for the period before taxes | 9903 | -€4,948 | €240 | +€5,188 | |
| Profit (loss) for the period | 9904 | -€4,948 | €240 | +€5,188 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,948 | €240 | +€5,188 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.