MASABI: 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.
MASABI
Largest movements
- Tangible fixed assets -€420,265
down €420,265 (-12.3%), from €3.4m to €3.0m
of which Plant, machinery and equipment: -€273,534
- Debts after one year -€337,697
down €337,697 (-9.9%), from €3.4m to €3.1m
of which Financial debts: -€337,697
- Profit (loss) carried forward -€244,844
down €244,844 (-8.4%), from €2.9m to €2.7m
- Other debts +€160,000
up €160,000 (+104.9%), from €152,541 to €312,541
- Financial income -€503,383
down €503,383 (-89.2%), from €564,205 to €60,822
- Gross operating margin +€211,344
up €211,344 (+26.6%), from €795,043 to €1.0m
- Taxes +€12,923
up €12,923 (+696.8%), from €1,855 to €14,778
- Financial charges -€10,650
down €10,650 (-7.1%), from €150,249 to €139,599
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 | €7,951,998 | €7,466,017 | -€485,981 | -6.1% |
| Fixed assets | 21/28 | €6,353,060 | €5,932,795 | -€420,265 | -6.6% |
| Tangible fixed assets | 22/27 | €3,427,760 | €3,007,495 | -€420,265 | -12.3% |
| Land and buildings | 22 | €1,626,846 | €1,480,444 | -€146,402 | -9.0% |
| Plant, machinery and equipment | 23 | €1,800,585 | €1,527,051 | -€273,534 | -15.2% |
| Furniture and vehicles | 24 | €329 | - | -€329 | |
| Financial fixed assets | 28 | €2,925,300 | €2,925,300 | = | 0.0% |
| Current assets | 29/58 | €1,598,938 | €1,533,222 | -€65,716 | -4.1% |
| Stocks and contracts in progress | 3 | €1,209,875 | €1,209,875 | = | 0.0% |
| Contracts in progress | 37 | €1,209,875 | €1,209,875 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €171,152 | €176,721 | +€5,569 | +3.3% |
| Trade receivables | 40 | €148,007 | €176,499 | +€28,492 | +19.3% |
| Other amounts receivable | 41 | €23,145 | €222 | -€22,923 | -99.0% |
| Cash at bank and in hand | 54/58 | €183,016 | €111,962 | -€71,053 | -38.8% |
| Deferred charges and accrued income | 490/1 | €34,894 | €34,663 | -€232 | -0.7% |
| Total equity and liabilities | 10/49 | €7,951,998 | €7,466,017 | -€485,981 | -6.1% |
| Equity | 10/15 | €4,032,168 | €3,726,502 | -€305,666 | -7.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €253,584 | €253,584 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250,000 | €250,000 | = | 0.0% |
| Distributable reserves | 133 | €3,584 | €3,584 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,913,648 | €2,668,805 | -€244,844 | -8.4% |
| Investment grants | 15 | €364,936 | €304,114 | -€60,822 | -16.7% |
| Amounts payable | 17/49 | €3,919,830 | €3,739,515 | -€180,315 | -4.6% |
| Amounts payable after more than one year | 17 | €3,397,437 | €3,059,741 | -€337,697 | -9.9% |
| Financial debts | 170/4 | €3,377,082 | €3,039,386 | -€337,697 | -10.0% |
| Other amounts payable | 178/9 | €20,355 | €20,355 | = | 0.0% |
| Amounts payable within one year | 42/48 | €522,393 | €679,774 | +€157,381 | +30.1% |
| Current portion of amounts payable after more than one year | 42 | €334,357 | €337,696 | +€3,340 | +1.0% |
| Trade debts | 44 | €27,447 | €22,863 | -€4,584 | -16.7% |
| Suppliers | 440/4 | €27,447 | €22,863 | -€4,584 | -16.7% |
| Taxes, remuneration and social security | 45 | €8,049 | €6,674 | -€1,375 | -17.1% |
| Taxes | 450/3 | €8,049 | €6,674 | -€1,375 | -17.1% |
| Other amounts payable | 47/48 | €152,541 | €312,541 | +€160,000 | +104.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €420,753 | €420,265 | -€489 | -0.1% |
| Other operating charges | 640/8 | €220,005 | €227,410 | +€7,405 | +3.4% |
| Gross operating margin | 9900 | €795,043 | €1,006,386 | +€211,344 | +26.6% |
| Operating profit (loss) | 9901 | €154,284 | €358,712 | +€204,427 | +132.5% |
| Financial income | 75/76B | €564,205 | €60,822 | -€503,383 | -89.2% |
| Recurring financial income | 75 | €564,205 | €60,822 | -€503,383 | -89.2% |
| Financial charges | 65/66B | €150,249 | €139,599 | -€10,650 | -7.1% |
| Recurring financial charges | 65 | €150,249 | €139,599 | -€10,650 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €568,241 | €279,935 | -€288,306 | -50.7% |
| Income taxes | 67/77 | €1,855 | €14,778 | +€12,923 | +696.8% |
| Profit (loss) for the period | 9904 | €566,386 | €265,156 | -€301,230 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €566,386 | €265,156 | -€301,230 | -53.2% |
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 10 October 2026 via checked.be.