MASAN: 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.
MASAN
Largest movements
- Receivables within one year -€31,600
no longer reported in 2024 (was €31,600)
of which Trade receivables: -€25,131
- Stocks and contracts +€29,600
new in 2024: €29,600
- Tangible fixed assets +€1,275
up €1,275 (+34.1%), from €3,740 to €5,016
of which Land and buildings: +€1,585
- Accrued charges and deferred income -€12,480
no longer reported in 2024 (was €12,480)
- Profit (loss) carried forward +€6,075
up €6,075 (+28.4%), from €21,371 to €27,446
- Tax, wage and social debts +€4,706
up €4,706 (+15.5%), from €30,324 to €35,029
of which Taxes: +€8,503
- Gross operating margin +€8,436
up €8,436 (+9.1%), from €92,837 to €101,273
- Staff costs -€3,648
down €3,648 (-4.3%), from €84,513 to €80,865
- Other operating charges +€1,614
up €1,614 (+29.4%), from €5,496 to €7,109
- Taxes +€1,472
up €1,472 (+62.8%), from €2,344 to €3,817
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,230 | €86,749 | -€1,481 | -1.7% |
| Fixed assets | 21/28 | €11,817 | €13,092 | +€1,275 | +10.8% |
| Tangible fixed assets | 22/27 | €3,740 | €5,016 | +€1,275 | +34.1% |
| Land and buildings | 22 | - | €1,585 | +€1,585 | |
| Plant, machinery and equipment | 23 | €2,288 | €1,801 | -€487 | -21.3% |
| Furniture and vehicles | 24 | €1,452 | €1,630 | +€177 | +12.2% |
| Financial fixed assets | 28 | €8,077 | €8,077 | = | 0.0% |
| Current assets | 29/58 | €76,413 | €73,657 | -€2,756 | -3.6% |
| Stocks and contracts in progress | 3 | - | €29,600 | +€29,600 | |
| Stocks | 30/36 | - | €29,600 | +€29,600 | |
| Amounts receivable within one year | 40/41 | €31,600 | - | -€31,600 | |
| Trade receivables | 40 | €25,131 | - | -€25,131 | |
| Other amounts receivable | 41 | €6,469 | - | -€6,469 | |
| Cash at bank and in hand | 54/58 | €44,813 | €44,057 | -€756 | -1.7% |
| Total equity and liabilities | 10/49 | €88,230 | €86,749 | -€1,481 | -1.7% |
| Equity | 10/15 | €41,862 | €47,937 | +€6,075 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,891 | €1,891 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,891 | €1,891 | = | 0.0% |
| Legal reserve | 130 | €1,891 | €1,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,371 | €27,446 | +€6,075 | +28.4% |
| Amounts payable | 17/49 | €46,369 | €38,812 | -€7,556 | -16.3% |
| Amounts payable within one year | 42/48 | €33,888 | €38,812 | +€4,924 | +14.5% |
| Trade debts | 44 | €3,564 | €3,783 | +€218 | +6.1% |
| Suppliers | 440/4 | €3,564 | €3,783 | +€218 | +6.1% |
| Taxes, remuneration and social security | 45 | €30,324 | €35,029 | +€4,706 | +15.5% |
| Taxes | 450/3 | €24,591 | €33,093 | +€8,503 | +34.6% |
| Remuneration and social security | 454/9 | €5,733 | €1,936 | -€3,797 | -66.2% |
| Accrued charges and deferred income | 492/3 | €12,480 | - | -€12,480 | |
| Remuneration, social security and pensions | 62 | €84,513 | €80,865 | -€3,648 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,111 | €1,846 | -€266 | -12.6% |
| Other operating charges | 640/8 | €5,496 | €7,109 | +€1,614 | +29.4% |
| Gross operating margin | 9900 | €92,837 | €101,273 | +€8,436 | +9.1% |
| Operating profit (loss) | 9901 | €717 | €11,453 | +€10,737 | +1497.8% |
| Financial income | 75/76B | €1 | €1 | -€0 | -32.7% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -32.7% |
| Financial charges | 65/66B | €647 | €1,562 | +€915 | +141.3% |
| Recurring financial charges | 65 | €647 | €1,562 | +€915 | +141.3% |
| Profit (loss) for the period before taxes | 9903 | €70 | €9,892 | +€9,822 | +13959.0% |
| Income taxes | 67/77 | €2,344 | €3,817 | +€1,472 | +62.8% |
| Profit (loss) for the period | 9904 | -€2,274 | €6,075 | +€8,349 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,274 | €6,075 | +€8,349 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.