MASAKA: 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.
MASAKA
Largest movements
- Cash -€56,153
down €56,153 (-59.1%), from €95,053 to €38,900
mainly Contributions, distributions and other (-€139,500) and Investment in fixed assets (net) (-€12,415)
- Receivables within one year -€13,893
down €13,893 (-24.1%), from €57,710 to €43,817
of which Trade receivables: -€20,388
- Tangible fixed assets +€9,216
up €9,216 (+541%), from €1,702 to €10,918
- Reserves -€130,028
down €130,028 (-89.8%), from €144,764 to €14,736
- Profit (loss) carried forward +€50,500
up €50,500, from €0 to €50,500
- Other debts +€19,229
up €19,229 (+800%), from €2,402 to €21,631
- Tax, wage and social debts -€2,572
down €2,572 (-55.7%), from €4,620 to €2,048
of which Taxes: -€3,372
- Accrued charges and deferred income +€1,960
up €1,960 (+819%), from €239 to €2,199
- Gross operating margin -€27,188
down €27,188 (-24.7%), from €110,241 to €83,053
- Taxes -€6,003
down €6,003 (-27.5%), from €21,827 to €15,824
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 | €159,402 | €99,126 | -€60,276 | -37.8% |
| Fixed assets | 21/28 | €1,702 | €10,918 | +€9,216 | +541% |
| Tangible fixed assets | 22/27 | €1,702 | €10,918 | +€9,216 | +541% |
| Furniture and vehicles | 24 | €1,702 | €10,918 | +€9,216 | +541% |
| Current assets | 29/58 | €157,700 | €88,208 | -€69,492 | -44.1% |
| Amounts receivable within one year | 40/41 | €57,710 | €43,817 | -€13,893 | -24.1% |
| Trade receivables | 40 | €57,277 | €36,890 | -€20,388 | -35.6% |
| Other amounts receivable | 41 | €433 | €6,927 | +€6,494 | +1,500% |
| Cash at bank and in hand | 54/58 | €95,053 | €38,900 | -€56,153 | -59.1% |
| Deferred charges and accrued income | 490/1 | €4,936 | €5,491 | +€555 | +11.2% |
| Total equity and liabilities | 10/49 | €159,402 | €99,126 | -€60,276 | -37.8% |
| Equity | 10/15 | €148,764 | €69,236 | -€79,528 | -53.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €144,764 | €14,736 | -€130,028 | -89.8% |
| Distributable reserves | 133 | €144,764 | €14,736 | -€130,028 | -89.8% |
| Profit (loss) carried forward | 14 | €0 | €50,500 | +€50,500 | |
| Amounts payable | 17/49 | €10,638 | €29,890 | +€19,252 | +181% |
| Amounts payable within one year | 42/48 | €10,399 | €27,691 | +€17,293 | +166% |
| Trade debts | 44 | €3,377 | €4,013 | +€636 | +18.8% |
| Suppliers | 440/4 | €3,377 | €4,013 | +€636 | +18.8% |
| Taxes, remuneration and social security | 45 | €4,620 | €2,048 | -€2,572 | -55.7% |
| Taxes | 450/3 | €4,620 | €1,248 | -€3,372 | -73.0% |
| Remuneration and social security | 454/9 | - | €800 | +€800 | |
| Other amounts payable | 47/48 | €2,402 | €21,631 | +€19,229 | +800% |
| Accrued charges and deferred income | 492/3 | €239 | €2,199 | +€1,960 | +819% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,745 | €3,199 | +€454 | +16.5% |
| Other operating charges | 640/8 | €1,269 | €960 | -€309 | -24.3% |
| Gross operating margin | 9900 | €110,241 | €83,053 | -€27,188 | -24.7% |
| Operating profit (loss) | 9901 | €106,227 | €78,894 | -€27,333 | -25.7% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100% |
| Financial charges | 65/66B | €3,188 | €3,099 | -€90 | -2.8% |
| Recurring financial charges | 65 | €3,188 | €3,099 | -€90 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €103,046 | €75,796 | -€27,250 | -26.4% |
| Income taxes | 67/77 | €21,827 | €15,824 | -€6,003 | -27.5% |
| Profit (loss) for the period | 9904 | €81,219 | €59,972 | -€21,247 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,219 | €59,972 | -€21,247 | -26.2% |
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 30 October 2026 via checked.be.