Mascock: 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.
Mascock
Largest movements
- Receivables within one year +€49,029
up €49,029 (+28.7%), from €171,113 to €220,142
of which Trade receivables: +€63,805
- Current investments +€43,964
up €43,964 (+63.1%), from €69,680 to €113,644
- Cash +€32,782
up €32,782 (+46.8%), from €70,090 to €102,872
mainly Advances received (+€47,820) and Net result for the year (+€39,007)
- Tangible fixed assets -€18,550
down €18,550 (-34.7%), from €53,496 to €34,946
of which Plant, machinery and equipment: -€13,073
- Stocks and contracts -€17,854
down €17,854 (-70.0%), from €25,490 to €7,635
- Advances received +€47,820
new in 2025: €47,820
- Reserves +€39,007
up €39,007 (+37.9%), from €103,019 to €142,026
- Trade debts -€20,492
down €20,492 (-10.7%), from €192,189 to €171,697
- Tax, wage and social debts +€5,876
up €5,876 (+11.0%), from €53,652 to €59,529
of which Remuneration and social security: +€8,781
- Staff costs +€59,097
up €59,097 (+17.6%), from €335,696 to €394,793
- Gross operating margin +€57,939
up €57,939 (+14.3%), from €404,273 to €462,212
- Financial income +€15,719
up €15,719 (+194.2%), from €8,094 to €23,813
of which Non-recurring financial income: +€10,589
- Taxes +€5,701
up €5,701 (+49.7%), from €11,475 to €17,176
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 | €404,163 | €481,022 | +€76,859 | +19.0% |
| Fixed assets | 21/28 | €54,096 | €35,546 | -€18,550 | -34.3% |
| Tangible fixed assets | 22/27 | €53,496 | €34,946 | -€18,550 | -34.7% |
| Land and buildings | 22 | €11,631 | €8,352 | -€3,279 | -28.2% |
| Plant, machinery and equipment | 23 | €38,751 | €25,678 | -€13,073 | -33.7% |
| Furniture and vehicles | 24 | €3,115 | €915 | -€2,199 | -70.6% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €350,066 | €445,476 | +€95,410 | +27.3% |
| Stocks and contracts in progress | 3 | €25,490 | €7,635 | -€17,854 | -70.0% |
| Stocks | 30/36 | €25,490 | €7,635 | -€17,854 | -70.0% |
| Amounts receivable within one year | 40/41 | €171,113 | €220,142 | +€49,029 | +28.7% |
| Trade receivables | 40 | €126,050 | €189,856 | +€63,805 | +50.6% |
| Other amounts receivable | 41 | €45,063 | €30,286 | -€14,777 | -32.8% |
| Current investments | 50/53 | €69,680 | €113,644 | +€43,964 | +63.1% |
| Cash at bank and in hand | 54/58 | €70,090 | €102,872 | +€32,782 | +46.8% |
| Deferred charges and accrued income | 490/1 | €13,694 | €1,184 | -€12,510 | -91.4% |
| Total equity and liabilities | 10/49 | €404,163 | €481,022 | +€76,859 | +19.0% |
| Equity | 10/15 | €153,019 | €192,026 | +€39,007 | +25.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €103,019 | €142,026 | +€39,007 | +37.9% |
| Distributable reserves | 133 | €103,019 | €142,026 | +€39,007 | +37.9% |
| Amounts payable | 17/49 | €251,143 | €288,996 | +€37,852 | +15.1% |
| Amounts payable within one year | 42/48 | €249,591 | €282,796 | +€33,204 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €3,750 | €3,750 | = | 0.0% |
| Trade debts | 44 | €192,189 | €171,697 | -€20,492 | -10.7% |
| Suppliers | 440/4 | €192,189 | €171,697 | -€20,492 | -10.7% |
| Advances received on contracts in progress | 46 | - | €47,820 | +€47,820 | |
| Taxes, remuneration and social security | 45 | €53,652 | €59,529 | +€5,876 | +11.0% |
| Taxes | 450/3 | €10,788 | €7,883 | -€2,904 | -26.9% |
| Remuneration and social security | 454/9 | €42,865 | €51,646 | +€8,781 | +20.5% |
| Accrued charges and deferred income | 492/3 | €1,552 | €6,200 | +€4,648 | +299.5% |
| Remuneration, social security and pensions | 62 | €335,696 | €394,793 | +€59,097 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,553 | €18,550 | -€2,003 | -9.7% |
| Other operating charges | 640/8 | €1,394 | €2,666 | +€1,272 | +91.3% |
| Gross operating margin | 9900 | €404,273 | €462,212 | +€57,939 | +14.3% |
| Operating profit (loss) | 9901 | €46,630 | €46,203 | -€427 | -0.9% |
| Financial income | 75/76B | €8,094 | €23,813 | +€15,719 | +194.2% |
| Recurring financial income | 75 | €8,094 | €13,224 | +€5,130 | +63.4% |
| Non-recurring financial income | 76B | - | €10,589 | +€10,589 | |
| Financial charges | 65/66B | €16,679 | €13,833 | -€2,847 | -17.1% |
| Recurring financial charges | 65 | €16,679 | €13,833 | -€2,847 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €38,045 | €56,183 | +€18,139 | +47.7% |
| Income taxes | 67/77 | €11,475 | €17,176 | +€5,701 | +49.7% |
| Profit (loss) for the period | 9904 | €26,570 | €39,007 | +€12,437 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,570 | €39,007 | +€12,437 | +46.8% |
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 10 October 2026 via checked.be.