MASCARAT: 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.
What changed
MASCARAT
NACE 69.101, Activities of lawyers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€46,402
2024 · €66,556-€112,958
Equity
€655,348
2024 · €701,750-€46,402
Cash
€502
2024 · €499+€2
Balance sheet total
€978,170
2024 · €948,288+€29,882
Largest movements
Assets
- Receivables within one year +€33,164
up €33,164 (+10.9%), from €303,933 to €337,097
of which Other amounts receivable: +€41,418
Equity and liabilities
- Other debts +€99,987
up €99,987 (+3,999%), from €2,500 to €102,487
- Reserves -€37,500
down €37,500 (-7.2%), from €520,369 to €482,869
of which Tax-exempt reserves: -€37,500
- Tax, wage and social debts -€12,710
down €12,710 (-12.1%), from €104,784 to €92,074
Income statement
- Gross operating margin -€105,550
down €105,550, from €87,487 to -€18,063
- Write-downs +€40,352
new in 2025: €40,352
- Taxes -€29,366
down €29,366 (-97.9%), from €29,982 to €617
- Financial income +€5,720
up €5,720 (+27.4%), from €20,896 to €26,617
- Financial charges +€1,134
up €1,134 (+21.2%), from €5,357 to €6,491
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.
Result 2024
€66,556
Gross operating margin
-€105,550
Depreciation
-€11
Write-downs
-€40,352
Other operating charges
-€997
Financial income
+€5,720
Financial charges
-€1,134
Taxes
+€29,366
Result 2025
-€46,402
raises the resultlowers the result
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.
From operations
+€11,387
Investment
-€1,416
Financing
-€9,968
Cash 2024
€499
From operations (derived)
+€11,387
Net result for the year
-€46,402
Depreciation
+€4,780
Receivables within one year
-€33,164
Deferred charges and accrued income
-€78
Trade debts
-€1,025
Tax, wage and social debts
-€12,710
Other debts
+€99,987
Investment (derived)
-€1,416
Investment in fixed assets (net)
-€1,416
Financing
-€9,968
Debts after one year
-€6,312
Current portion of long-term debt
+€138
Short-term financial debts
-€3,795
Cash 2025
€502
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €948,288 | €978,170 | +€29,882 | +3.2% |
| Fixed assets | 21/28 | €192,372 | €189,009 | -€3,363 | -1.7% |
| Tangible fixed assets | 22/27 | €130,399 | €127,035 | -€3,363 | -2.6% |
| Land and buildings | 22 | €130,399 | €127,035 | -€3,363 | -2.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €61,973 | €61,973 | = | 0.0% |
| Current assets | 29/58 | €755,916 | €789,161 | +€33,245 | +4.4% |
| Amounts receivable after more than one year | 29 | €450,000 | €450,000 | = | 0.0% |
| Trade receivables | 290 | €450,000 | €450,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €303,933 | €337,097 | +€33,164 | +10.9% |
| Trade receivables | 40 | €63,974 | €55,721 | -€8,253 | -12.9% |
| Other amounts receivable | 41 | €239,959 | €281,376 | +€41,418 | +17.3% |
| Cash at bank and in hand | 54/58 | €499 | €502 | +€2 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,484 | €1,562 | +€78 | +5.3% |
| Total equity and liabilities | 10/49 | €948,288 | €978,170 | +€29,882 | +3.2% |
| Equity | 10/15 | €701,750 | €655,348 | -€46,402 | -6.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €520,369 | €482,869 | -€37,500 | -7.2% |
| Non-distributable reserves | 130/1 | €23,500 | €23,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,500 | €23,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €0 | -€37,500 | -100% |
| Distributable reserves | 133 | €459,369 | €459,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,380 | €159,478 | -€8,902 | -5.3% |
| Amounts payable | 17/49 | €246,539 | €322,822 | +€76,284 | +30.9% |
| Amounts payable after more than one year | 17 | €98,210 | €91,899 | -€6,312 | -6.4% |
| Financial debts | 170/4 | €98,210 | €91,899 | -€6,312 | -6.4% |
| Amounts payable within one year | 42/48 | €148,328 | €230,924 | +€82,595 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | €6,173 | €6,312 | +€138 | +2.2% |
| Financial debts | 43 | €19,052 | €15,257 | -€3,795 | -19.9% |
| Credit institutions | 430/8 | €19,052 | €15,257 | -€3,795 | -19.9% |
| Trade debts | 44 | €15,819 | €14,794 | -€1,025 | -6.5% |
| Suppliers | 440/4 | €15,819 | €14,794 | -€1,025 | -6.5% |
| Taxes, remuneration and social security | 45 | €104,784 | €92,074 | -€12,710 | -12.1% |
| Taxes | 450/3 | €104,784 | €92,074 | -€12,710 | -12.1% |
| Other amounts payable | 47/48 | €2,500 | €102,487 | +€99,987 | +3,999% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,769 | €4,780 | +€11 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €40,352 | +€40,352 | |
| Other operating charges | 640/8 | €1,720 | €2,717 | +€997 | +58.0% |
| Gross operating margin | 9900 | €87,487 | -€18,063 | -€105,550 | |
| Operating profit (loss) | 9901 | €80,999 | -€65,911 | -€146,910 | |
| Financial income | 75/76B | €20,896 | €26,617 | +€5,720 | +27.4% |
| Recurring financial income | 75 | €20,896 | €26,617 | +€5,720 | +27.4% |
| Financial charges | 65/66B | €5,357 | €6,491 | +€1,134 | +21.2% |
| Recurring financial charges | 65 | €5,357 | €6,491 | +€1,134 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €96,538 | -€45,785 | -€142,324 | |
| Income taxes | 67/77 | €29,982 | €617 | -€29,366 | -97.9% |
| Profit (loss) for the period | 9904 | €66,556 | -€46,402 | -€112,958 | |
| Transfer from tax-exempt reserves | 789 | - | €37,500 | +€37,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,556 | -€8,902 | -€75,458 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.