MASA CONSTRUCT: 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.
MASA CONSTRUCT
Largest movements
- Receivables within one year +€3,891
up €3,891 (+9.3%), from €41,694 to €45,586
of which Trade receivables: +€3,246
- Cash +€1,020
up €1,020 (+4.6%), from €22,061 to €23,081
mainly Net result for the year (+€2,880) and Depreciation (+€1,933)
- Reserves +€2,880
up €2,880 (+6.3%), from €45,692 to €48,572
- Tax, wage and social debts -€1,824
down €1,824 (-30.5%), from €5,988 to €4,164
of which Taxes: -€1,824
- Other debts +€1,711
up €1,711 (+26.1%), from €6,565 to €8,275
- Trade debts +€1,443
up €1,443 (+38.1%), from €3,793 to €5,236
- Purchases and services -€26,932
down €26,932 (-14.4%), from €186,609 to €159,678
- Gross operating margin +€3,702
up €3,702 (+44.8%), from €8,268 to €11,970
- Taxes +€1,370
up €1,370 (+152.4%), from €899 to €2,270
- Financial charges -€836
down €836 (-55.6%), from €1,504 to €669
of which Non-recurring financial charges: -€912
- Other operating charges +€518
up €518 (+51.9%), from €999 to €1,517
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 | €68,237 | €72,447 | +€4,210 | +6.2% |
| Fixed assets | 21/28 | €4,036 | €3,363 | -€673 | -16.7% |
| Tangible fixed assets | 22/27 | €3,986 | €3,313 | -€673 | -16.9% |
| Plant, machinery and equipment | 23 | €3,132 | €2,859 | -€273 | -8.7% |
| Furniture and vehicles | 24 | €174 | €0 | -€174 | -100.0% |
| Other tangible fixed assets | 26 | €680 | €453 | -€227 | -33.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €64,201 | €69,085 | +€4,884 | +7.6% |
| Amounts receivable within one year | 40/41 | €41,694 | €45,586 | +€3,891 | +9.3% |
| Trade receivables | 40 | €37,049 | €40,294 | +€3,246 | +8.8% |
| Other amounts receivable | 41 | €4,645 | €5,291 | +€646 | +13.9% |
| Cash at bank and in hand | 54/58 | €22,061 | €23,081 | +€1,020 | +4.6% |
| Deferred charges and accrued income | 490/1 | €446 | €418 | -€28 | -6.3% |
| Total equity and liabilities | 10/49 | €68,237 | €72,447 | +€4,210 | +6.2% |
| Equity | 10/15 | €51,892 | €54,772 | +€2,880 | +5.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,692 | €48,572 | +€2,880 | +6.3% |
| Distributable reserves | 133 | €45,692 | €48,572 | +€2,880 | +6.3% |
| Amounts payable | 17/49 | €16,345 | €17,675 | +€1,330 | +8.1% |
| Amounts payable within one year | 42/48 | €16,345 | €17,675 | +€1,330 | +8.1% |
| Trade debts | 44 | €3,793 | €5,236 | +€1,443 | +38.1% |
| Suppliers | 440/4 | €3,793 | €5,236 | +€1,443 | +38.1% |
| Taxes, remuneration and social security | 45 | €5,988 | €4,164 | -€1,824 | -30.5% |
| Taxes | 450/3 | €5,274 | €3,450 | -€1,824 | -34.6% |
| Remuneration and social security | 454/9 | €714 | €714 | = | 0.0% |
| Other amounts payable | 47/48 | €6,565 | €8,275 | +€1,711 | +26.1% |
| Non-recurring operating income | 76A | €26 | €701 | +€675 | +2585.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €186,609 | €159,678 | -€26,932 | -14.4% |
| Remuneration, social security and pensions | 62 | €2,298 | €2,189 | -€110 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,048 | €1,933 | -€115 | -5.6% |
| Other operating charges | 640/8 | €999 | €1,517 | +€518 | +51.9% |
| Non-recurring operating charges | 66A | €184 | €514 | +€330 | +179.0% |
| Gross operating margin | 9900 | €8,268 | €11,970 | +€3,702 | +44.8% |
| Operating profit (loss) | 9901 | €2,739 | €5,818 | +€3,079 | +112.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,504 | €669 | -€836 | -55.6% |
| Recurring financial charges | 65 | €592 | €669 | +€76 | +12.9% |
| Non-recurring financial charges | 66B | €912 | €0 | -€912 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €1,235 | €5,149 | +€3,914 | +317.0% |
| Income taxes | 67/77 | €899 | €2,270 | +€1,370 | +152.4% |
| Profit (loss) for the period | 9904 | €336 | €2,880 | +€2,544 | +758.0% |
| Profit (loss) for the period to be appropriated | 9905 | €336 | €2,880 | +€2,544 | +758.0% |
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 30 September 2026 via checked.be.