MASAL TRANS: 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.
MASAL TRANS
Largest movements
- Receivables within one year +€23,334
up €23,334 (+1494.3%), from €1,561 to €24,895
- Cash -€12,266
down €12,266 (-65.9%), from €18,622 to €6,356
mainly Receivables within one year (-€23,334) and Investment in fixed assets (net) (-€18,169)
- Financial fixed assets +€5,000
up €5,000 (+35.1%), from €14,265 to €19,265
- Profit (loss) carried forward +€18,459
up €18,459 (+45.9%), from -€40,230 to -€21,771
- Debts after one year -€17,382
down €17,382 (-22.9%), from €75,857 to €58,475
- Other debts +€14,818
up €14,818 (+84.8%), from €17,483 to €32,301
- Accrued charges and deferred income -€10,950
no longer reported in 2025 (was €10,950)
- Trade debts +€10,596
up €10,596 (+1127240.4%), from €1 to €10,597
- Gross operating margin +€63,086
up €63,086 (+425.4%), from €14,830 to €77,916
- Turnover +€61,447
up €61,447 (+27.8%), from €220,739 to €282,186
- Taxes +€4,091
new in 2025: €4,091
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 | €82,772 | €100,495 | +€17,723 | +21.4% |
| Fixed assets | 21/28 | €62,589 | €68,404 | +€5,815 | +9.3% |
| Tangible fixed assets | 22/27 | €48,324 | €49,139 | +€815 | +1.7% |
| Plant, machinery and equipment | 23 | €6,413 | €17,827 | +€11,414 | +178.0% |
| Furniture and vehicles | 24 | €19,646 | €14,400 | -€5,246 | -26.7% |
| Leasing and similar rights | 25 | €22,266 | €16,912 | -€5,354 | -24.0% |
| Financial fixed assets | 28 | €14,265 | €19,265 | +€5,000 | +35.1% |
| Current assets | 29/58 | €20,184 | €32,091 | +€11,907 | +59.0% |
| Amounts receivable within one year | 40/41 | €1,561 | €24,895 | +€23,334 | +1494.3% |
| Trade receivables | 40 | €1,561 | €24,895 | +€23,334 | +1494.3% |
| Cash at bank and in hand | 54/58 | €18,622 | €6,356 | -€12,266 | -65.9% |
| Deferred charges and accrued income | 490/1 | - | €840 | +€840 | |
| Total equity and liabilities | 10/49 | €82,772 | €100,495 | +€17,723 | +21.4% |
| Equity | 10/15 | -€39,980 | -€21,521 | +€18,459 | +46.2% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,230 | -€21,771 | +€18,459 | +45.9% |
| Amounts payable | 17/49 | €122,753 | €122,016 | -€737 | -0.6% |
| Amounts payable after more than one year | 17 | €75,857 | €58,475 | -€17,382 | -22.9% |
| Financial debts | 170/4 | €75,857 | €58,475 | -€17,382 | -22.9% |
| Amounts payable within one year | 42/48 | €35,946 | €63,541 | +€27,595 | +76.8% |
| Current portion of amounts payable after more than one year | 42 | - | €478 | +€478 | |
| Trade debts | 44 | €1 | €10,597 | +€10,596 | +1127240.4% |
| Suppliers | 440/4 | €1 | €10,597 | +€10,596 | +1127240.4% |
| Taxes, remuneration and social security | 45 | €18,462 | €20,165 | +€1,703 | +9.2% |
| Taxes | 450/3 | €6,873 | €13,303 | +€6,430 | +93.6% |
| Remuneration and social security | 454/9 | €11,589 | €6,862 | -€4,727 | -40.8% |
| Other amounts payable | 47/48 | €17,483 | €32,301 | +€14,818 | +84.8% |
| Accrued charges and deferred income | 492/3 | €10,950 | - | -€10,950 | |
| Turnover | 70 | €220,739 | €282,186 | +€61,447 | +27.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €205,909 | €204,270 | -€1,639 | -0.8% |
| Remuneration, social security and pensions | 62 | €36,095 | €35,331 | -€764 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,168 | €12,354 | +€186 | +1.5% |
| Other operating charges | 640/8 | €1,587 | €3,082 | +€1,495 | +94.2% |
| Non-recurring operating charges | 66A | €378 | - | -€378 | |
| Gross operating margin | 9900 | €14,830 | €77,916 | +€63,086 | +425.4% |
| Operating profit (loss) | 9901 | -€35,399 | €27,149 | +€62,548 | |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €4,832 | €4,604 | -€228 | -4.7% |
| Recurring financial charges | 65 | €4,832 | €4,604 | -€228 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€40,230 | €22,550 | +€62,780 | |
| Income taxes | 67/77 | - | €4,091 | +€4,091 | |
| Profit (loss) for the period | 9904 | -€40,230 | €18,459 | +€58,689 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,230 | €18,459 | +€58,689 |
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 2 October 2026 via checked.be.