MASABI CAPITAL: what changed
MASABI CAPITAL
Largest movements
- Financial fixed assets +€1.7m
up €1.7m (+3,275%), from €52,000 to €1.8m
- Receivables after one year +€142,260
up €142,260 (+4.1%), from €3.4m to €3.6m
- Receivables within one year -€111,746
down €111,746 (-96.9%), from €115,340 to €3,594
- Cash -€82,532
down €82,532 (-72.9%), from €113,270 to €30,738
mainly Investment in fixed assets (net) (-€1.7m) and Receivables after one year (-€142,260)
- Debts after one year +€1.7m
up €1.7m (+47.8%), from €3.5m to €5.1m
- Financial income +€65,356
up €65,356 (+33.9%), from €192,661 to €258,017
- Financial charges +€52,410
up €52,410 (+30.4%), from €172,391 to €224,801
- Taxes +€4,244
up €4,244 (+89.8%), from €4,726 to €8,969
- Gross operating margin +€195
up €195 (+69.0%), from -€283 to -€88
- Other operating charges +€33
up €33 (+3.0%), from €1,086 to €1,118
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,721,400 | €5,410,677 | +€1.7m | +45.4% |
| Fixed assets | 21/28 | €52,000 | €1,755,000 | +€1.7m | +3,275% |
| Financial fixed assets | 28 | €52,000 | €1,755,000 | +€1.7m | +3,275% |
| Current assets | 29/58 | €3,669,400 | €3,655,677 | -€13,723 | -0.4% |
| Amounts receivable after more than one year | 29 | €3,434,085 | €3,576,345 | +€142,260 | +4.1% |
| Other amounts receivable | 291 | €3,434,085 | €3,576,345 | +€142,260 | +4.1% |
| Amounts receivable within one year | 40/41 | €115,340 | €3,594 | -€111,746 | -96.9% |
| Other amounts receivable | 41 | €115,340 | €3,594 | -€111,746 | -96.9% |
| Cash at bank and in hand | 54/58 | €113,270 | €30,738 | -€82,532 | -72.9% |
| Deferred charges and accrued income | 490/1 | €6,705 | €45,000 | +€38,295 | +571% |
| Total equity and liabilities | 10/49 | €3,721,400 | €5,410,677 | +€1.7m | +45.4% |
| Equity | 10/15 | €264,886 | €287,927 | +€23,041 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,922 | €39,922 | = | 0.0% |
| Distributable reserves | 133 | €39,922 | €39,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,364 | €229,405 | +€23,041 | +11.2% |
| Amounts payable | 17/49 | €3,456,514 | €5,122,750 | +€1.7m | +48.2% |
| Amounts payable after more than one year | 17 | €3,450,000 | €5,100,000 | +€1.7m | +47.8% |
| Financial debts | 170/4 | €3,450,000 | €5,100,000 | +€1.7m | +47.8% |
| Accrued charges and deferred income | 492/3 | €6,514 | €22,750 | +€16,236 | +249% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€283 | -€88 | +€195 | +69.0% |
| Operating profit (loss) | 9901 | -€1,368 | -€1,206 | +€162 | +11.8% |
| Financial income | 75/76B | €192,661 | €258,017 | +€65,356 | +33.9% |
| Recurring financial income | 75 | €192,661 | €258,017 | +€65,356 | +33.9% |
| Financial charges | 65/66B | €172,391 | €224,801 | +€52,410 | +30.4% |
| Recurring financial charges | 65 | €172,391 | €224,801 | +€52,410 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €18,903 | €32,010 | +€13,108 | +69.3% |
| Income taxes | 67/77 | €4,726 | €8,969 | +€4,244 | +89.8% |
| Profit (loss) for the period | 9904 | €14,177 | €23,041 | +€8,864 | +62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,177 | €23,041 | +€8,864 | +62.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.