MASCO: 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.
MASCO
Largest movements
- Tangible fixed assets +€40,816
up €40,816 (+3.3%), from €1.2m to €1.3m
- Short-term financial debts -€70,000
no longer reported in 2025 (was €70,000)
- Profit (loss) carried forward +€69,012
up €69,012 (+31.8%), from €217,237 to €286,249
- Debts after one year +€27,584
up €27,584 (+3.9%), from €703,534 to €731,118
- Tax, wage and social debts +€22,842
up €22,842 (+71.8%), from €31,810 to €54,652
of which Taxes: +€20,028
- Gross operating margin -€24,819
down €24,819 (-8.8%), from €281,150 to €256,331
- Depreciation +€6,892
up €6,892 (+8.7%), from €78,854 to €85,746
- Taxes -€6,782
down €6,782 (-21.3%), from €31,810 to €25,028
- Other operating charges -€6,746
down €6,746 (-18.1%), from €37,211 to €30,465
- Financial charges -€4,508
down €4,508 (-16.7%), from €27,039 to €22,531
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 | €1,263,288 | €1,310,718 | +€47,430 | +3.8% |
| Fixed assets | 21/28 | €1,246,112 | €1,286,928 | +€40,816 | +3.3% |
| Tangible fixed assets | 22/27 | €1,246,112 | €1,286,928 | +€40,816 | +3.3% |
| Land and buildings | 22 | €1,246,112 | €1,286,928 | +€40,816 | +3.3% |
| Current assets | 29/58 | €17,176 | €23,790 | +€6,614 | +38.5% |
| Stocks and contracts in progress | 3 | €1,353 | €1,353 | = | 0.0% |
| Stocks | 30/36 | €1,353 | €1,353 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,589 | €2,700 | +€111 | +4.3% |
| Other amounts receivable | 41 | €2,589 | €2,700 | +€111 | +4.3% |
| Cash at bank and in hand | 54/58 | €13,234 | €19,736 | +€6,503 | +49.1% |
| Total equity and liabilities | 10/49 | €1,263,288 | €1,310,718 | +€47,430 | +3.8% |
| Equity | 10/15 | €405,375 | €474,387 | +€69,012 | +17.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €126,138 | €126,138 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €119,938 | €119,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | €217,237 | €286,249 | +€69,012 | +31.8% |
| Amounts payable | 17/49 | €857,913 | €836,331 | -€21,583 | -2.5% |
| Amounts payable after more than one year | 17 | €703,534 | €731,118 | +€27,584 | +3.9% |
| Financial debts | 170/4 | €703,534 | €731,118 | +€27,584 | +3.9% |
| Amounts payable within one year | 42/48 | €154,379 | €105,213 | -€49,166 | -31.8% |
| Financial debts | 43 | €70,000 | - | -€70,000 | |
| Credit institutions | 430/8 | €70,000 | - | -€70,000 | |
| Trade debts | 44 | - | €491 | +€491 | |
| Suppliers | 440/4 | - | €491 | +€491 | |
| Taxes, remuneration and social security | 45 | €31,810 | €54,652 | +€22,842 | +71.8% |
| Taxes | 450/3 | €31,810 | €51,838 | +€20,028 | +63.0% |
| Remuneration and social security | 454/9 | - | €2,814 | +€2,814 | |
| Other amounts payable | 47/48 | €52,570 | €50,070 | -€2,500 | -4.8% |
| Remuneration, social security and pensions | 62 | €21,718 | €23,548 | +€1,831 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,854 | €85,746 | +€6,892 | +8.7% |
| Other operating charges | 640/8 | €37,211 | €30,465 | -€6,746 | -18.1% |
| Gross operating margin | 9900 | €281,150 | €256,331 | -€24,819 | -8.8% |
| Operating profit (loss) | 9901 | €143,367 | €116,572 | -€26,795 | -18.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.0% |
| Financial charges | 65/66B | €27,039 | €22,531 | -€4,508 | -16.7% |
| Recurring financial charges | 65 | €27,039 | €22,531 | -€4,508 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €116,329 | €94,040 | -€22,288 | -19.2% |
| Income taxes | 67/77 | €31,810 | €25,028 | -€6,782 | -21.3% |
| Profit (loss) for the period | 9904 | €84,519 | €69,012 | -€15,507 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,519 | €69,012 | -€15,507 | -18.3% |
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 5 October 2026 via checked.be.