Masa Madre: 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.
Masa Madre
Largest movements
- Receivables within one year +€25,494
up €25,494 (+157%), from €16,192 to €41,686
of which Trade receivables: +€28,020
- Tangible fixed assets -€10,243
down €10,243 (-20.5%), from €50,044 to €39,801
of which Furniture and vehicles: -€6,083
- Cash +€4,408
up €4,408 (+21.9%), from €20,163 to €24,571
mainly Accrued charges and deferred income (+€28,020) and Depreciation (+€13,086)
- Deferred charges and accrued income -€2,717
down €2,717 (-74.9%), from €3,630 to €912
- Accrued charges and deferred income +€28,020
new in 2025: €28,020
- Current portion of long-term debt -€11,693
down €11,693 (-89.9%), from €13,001 to €1,309
- Trade debts -€5,437
down €5,437 (-87.8%), from €6,190 to €753
- Profit (loss) carried forward +€5,134
up €5,134 (+13.5%), from €37,886 to €43,020
- Tax, wage and social debts +€3,309
up €3,309 (+41.6%), from €7,944 to €11,253
of which Remuneration and social security: +€1,686
- Staff costs +€20,772
new in 2025: €20,772
- Taxes -€6,322
down €6,322 (-79.6%), from €7,944 to €1,623
- Gross operating margin -€6,042
down €6,042 (-12.2%), from €49,514 to €43,471
- Other operating charges +€1,610
up €1,610 (+1,146%), from €141 to €1,750
- Depreciation +€722
up €722 (+5.8%), from €12,364 to €13,086
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 | €92,613 | €109,554 | +€16,942 | +18.3% |
| Fixed assets | 21/28 | €50,044 | €39,801 | -€10,243 | -20.5% |
| Tangible fixed assets | 22/27 | €50,044 | €39,801 | -€10,243 | -20.5% |
| Plant, machinery and equipment | 23 | €29,339 | €25,179 | -€4,160 | -14.2% |
| Furniture and vehicles | 24 | €20,706 | €14,622 | -€6,083 | -29.4% |
| Current assets | 29/58 | €42,569 | €69,753 | +€27,185 | +63.9% |
| Stocks and contracts in progress | 3 | €2,584 | €2,584 | = | 0.0% |
| Stocks | 30/36 | €2,584 | €2,584 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,192 | €41,686 | +€25,494 | +157% |
| Trade receivables | 40 | - | €28,020 | +€28,020 | |
| Other amounts receivable | 41 | €16,192 | €13,666 | -€2,526 | -15.6% |
| Cash at bank and in hand | 54/58 | €20,163 | €24,571 | +€4,408 | +21.9% |
| Deferred charges and accrued income | 490/1 | €3,630 | €912 | -€2,717 | -74.9% |
| Total equity and liabilities | 10/49 | €92,613 | €109,554 | +€16,942 | +18.3% |
| Equity | 10/15 | €62,886 | €68,020 | +€5,134 | +8.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,886 | €43,020 | +€5,134 | +13.5% |
| Amounts payable | 17/49 | €29,727 | €41,535 | +€11,808 | +39.7% |
| Amounts payable after more than one year | 17 | €2,591 | €200 | -€2,391 | -92.3% |
| Financial debts | 170/4 | €2,591 | - | -€2,591 | |
| Other amounts payable | 178/9 | - | €200 | +€200 | |
| Amounts payable within one year | 42/48 | €27,136 | €13,315 | -€13,821 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €13,001 | €1,309 | -€11,693 | -89.9% |
| Trade debts | 44 | €6,190 | €753 | -€5,437 | -87.8% |
| Suppliers | 440/4 | €6,190 | €753 | -€5,437 | -87.8% |
| Taxes, remuneration and social security | 45 | €7,944 | €11,253 | +€3,309 | +41.6% |
| Taxes | 450/3 | €7,944 | €9,567 | +€1,623 | +20.4% |
| Remuneration and social security | 454/9 | - | €1,686 | +€1,686 | |
| Accrued charges and deferred income | 492/3 | - | €28,020 | +€28,020 | |
| Remuneration, social security and pensions | 62 | - | €20,772 | +€20,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,364 | €13,086 | +€722 | +5.8% |
| Other operating charges | 640/8 | €141 | €1,750 | +€1,610 | +1,146% |
| Gross operating margin | 9900 | €49,514 | €43,471 | -€6,042 | -12.2% |
| Operating profit (loss) | 9901 | €37,009 | €7,863 | -€29,146 | -78.8% |
| Financial income | 75/76B | €0 | €200 | +€200 | +105,163% |
| Recurring financial income | 75 | €0 | €200 | +€200 | +105,163% |
| Financial charges | 65/66B | €1,297 | €1,307 | +€10 | +0.8% |
| Recurring financial charges | 65 | €1,297 | €1,307 | +€10 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €35,713 | €6,756 | -€28,956 | -81.1% |
| Income taxes | 67/77 | €7,944 | €1,623 | -€6,322 | -79.6% |
| Profit (loss) for the period | 9904 | €27,768 | €5,134 | -€22,635 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,768 | €5,134 | -€22,635 | -81.5% |
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.