MASAMO: 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.
MASAMO
Largest movements
- Cash -€203,884
down €203,884 (-17.0%), from €1.2m to €998,133
mainly Other debts (-€244,632) and Deferred charges and accrued income (-€40,706)
- Tangible fixed assets -€130,679
down €130,679 (-4.1%), from €3.2m to €3.0m
of which Land and buildings: -€82,383
- Other debts -€244,632
down €244,632 (-81.7%), from €299,277 to €54,645
- Financial income -€298,065
down €298,065 (-84.0%), from €354,747 to €56,683
- Taxes -€28,222
down €28,222 (-98.3%), from €28,696 to €474
- Depreciation +€11,468
up €11,468 (+8.3%), from €138,569 to €150,037
- Gross operating margin -€10,837
down €10,837 (-11.8%), from €91,654 to €80,817
- Other operating charges -€1,266
down €1,266 (-8.8%), from €14,389 to €13,123
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 | €6,355,035 | €6,056,584 | -€298,451 | -4.7% |
| Fixed assets | 21/28 | €4,645,085 | €4,514,406 | -€130,679 | -2.8% |
| Tangible fixed assets | 22/27 | €3,150,485 | €3,019,806 | -€130,679 | -4.1% |
| Land and buildings | 22 | €2,989,826 | €2,907,443 | -€82,383 | -2.8% |
| Plant, machinery and equipment | 23 | €45,860 | €37,054 | -€8,806 | -19.2% |
| Furniture and vehicles | 24 | €114,799 | €75,309 | -€39,489 | -34.4% |
| Financial fixed assets | 28 | €1,494,600 | €1,494,600 | = | 0.0% |
| Current assets | 29/58 | €1,709,950 | €1,542,178 | -€167,772 | -9.8% |
| Amounts receivable after more than one year | 29 | €98,080 | €87,594 | -€10,485 | -10.7% |
| Other amounts receivable | 291 | €98,080 | €87,594 | -€10,485 | -10.7% |
| Stocks and contracts in progress | 3 | €12,739 | €12,739 | = | 0.0% |
| Stocks | 30/36 | €12,739 | €12,739 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €390,376 | €396,268 | +€5,892 | +1.5% |
| Trade receivables | 40 | €27,726 | €21,939 | -€5,786 | -20.9% |
| Other amounts receivable | 41 | €362,650 | €374,328 | +€11,678 | +3.2% |
| Cash at bank and in hand | 54/58 | €1,202,017 | €998,133 | -€203,884 | -17.0% |
| Deferred charges and accrued income | 490/1 | €6,738 | €47,444 | +€40,706 | +604.1% |
| Total equity and liabilities | 10/49 | €6,355,035 | €6,056,584 | -€298,451 | -4.7% |
| Equity | 10/15 | €5,999,540 | €5,973,080 | -€26,460 | -0.4% |
| Contributions | 10/11 | €3,339,685 | €3,339,685 | = | 0.0% |
| Reserves | 13 | €2,659,855 | €2,633,395 | -€26,460 | -1.0% |
| Distributable reserves | 133 | €2,659,855 | €2,633,395 | -€26,460 | -1.0% |
| Amounts payable | 17/49 | €355,495 | €83,505 | -€271,990 | -76.5% |
| Amounts payable within one year | 42/48 | €353,595 | €83,505 | -€270,090 | -76.4% |
| Trade debts | 44 | €31,529 | €18,502 | -€13,028 | -41.3% |
| Suppliers | 440/4 | €31,529 | €18,502 | -€13,028 | -41.3% |
| Taxes, remuneration and social security | 45 | €22,789 | €10,358 | -€12,431 | -54.5% |
| Taxes | 450/3 | €22,789 | €10,358 | -€12,431 | -54.5% |
| Other amounts payable | 47/48 | €299,277 | €54,645 | -€244,632 | -81.7% |
| Accrued charges and deferred income | 492/3 | €1,900 | - | -€1,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,569 | €150,037 | +€11,468 | +8.3% |
| Other operating charges | 640/8 | €14,389 | €13,123 | -€1,266 | -8.8% |
| Gross operating margin | 9900 | €91,654 | €80,817 | -€10,837 | -11.8% |
| Operating profit (loss) | 9901 | -€61,304 | -€82,343 | -€21,039 | -34.3% |
| Financial income | 75/76B | €354,747 | €56,683 | -€298,065 | -84.0% |
| Recurring financial income | 75 | €354,747 | €56,683 | -€298,065 | -84.0% |
| Financial charges | 65/66B | €222 | €326 | +€104 | +47.0% |
| Recurring financial charges | 65 | €222 | €326 | +€104 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €293,222 | -€25,986 | -€319,208 | |
| Income taxes | 67/77 | €28,696 | €474 | -€28,222 | -98.3% |
| Profit (loss) for the period | 9904 | €264,526 | -€26,460 | -€290,986 | |
| Profit (loss) for the period to be appropriated | 9905 | €264,526 | -€26,460 | -€290,986 |
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 9 October 2026 via checked.be.