MASEA: 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.
MASEA
Largest movements
- Tangible fixed assets -€13,638
down €13,638 (-97.0%), from €14,063 to €425
- Cash +€5,057
up €5,057 (+18.4%), from €27,425 to €32,482
mainly Investment in fixed assets (net) (+€13,484) and Net result for the year (+€3,072)
- Receivables within one year +€1,311
up €1,311 (+11867.4%), from €11 to €1,322
of which Other amounts receivable: +€1,311
- Deferred charges and accrued income -€1,238
down €1,238 (-89.3%), from €1,387 to €148
- Other debts -€10,550
down €10,550 (-58.7%), from €17,972 to €7,423
- Profit (loss) carried forward +€3,072
up €3,072 (+21.6%), from €14,199 to €17,271
- Tax, wage and social debts -€2,925
down €2,925 (-66.6%), from €4,393 to €1,468
of which Taxes: -€2,925
- Trade debts +€2,112
up €2,112 (+450.7%), from €469 to €2,581
- Gross operating margin -€16,177
down €16,177 (-61.2%), from €26,437 to €10,261
- Depreciation -€13,478
down €13,478 (-98.9%), from €13,633 to €155
- Financial charges +€1,179
up €1,179 (+115.2%), from €1,024 to €2,204
- Taxes -€1,048
down €1,048 (-38.4%), from €2,730 to €1,682
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 | €42,886 | €34,378 | -€8,508 | -19.8% |
| Fixed assets | 21/28 | €14,063 | €425 | -€13,638 | -97.0% |
| Tangible fixed assets | 22/27 | €14,063 | €425 | -€13,638 | -97.0% |
| Furniture and vehicles | 24 | €14,063 | €425 | -€13,638 | -97.0% |
| Current assets | 29/58 | €28,823 | €33,953 | +€5,130 | +17.8% |
| Amounts receivable within one year | 40/41 | €11 | €1,322 | +€1,311 | +11867.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €11 | €1,322 | +€1,311 | +11867.4% |
| Cash at bank and in hand | 54/58 | €27,425 | €32,482 | +€5,057 | +18.4% |
| Deferred charges and accrued income | 490/1 | €1,387 | €148 | -€1,238 | -89.3% |
| Total equity and liabilities | 10/49 | €42,886 | €34,378 | -€8,508 | -19.8% |
| Equity | 10/15 | €19,199 | €22,271 | +€3,072 | +16.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,199 | €17,271 | +€3,072 | +21.6% |
| Amounts payable | 17/49 | €23,687 | €12,106 | -€11,581 | -48.9% |
| Amounts payable within one year | 42/48 | €22,834 | €11,472 | -€11,362 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €469 | €2,581 | +€2,112 | +450.7% |
| Suppliers | 440/4 | €469 | €2,581 | +€2,112 | +450.7% |
| Taxes, remuneration and social security | 45 | €4,393 | €1,468 | -€2,925 | -66.6% |
| Taxes | 450/3 | €4,393 | €1,468 | -€2,925 | -66.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €17,972 | €7,423 | -€10,550 | -58.7% |
| Accrued charges and deferred income | 492/3 | €853 | €634 | -€219 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,633 | €155 | -€13,478 | -98.9% |
| Other operating charges | 640/8 | €485 | €414 | -€71 | -14.6% |
| Non-recurring operating charges | 66A | - | €2,734 | +€2,734 | |
| Gross operating margin | 9900 | €26,437 | €10,261 | -€16,177 | -61.2% |
| Operating profit (loss) | 9901 | €12,319 | €6,958 | -€5,361 | -43.5% |
| Financial charges | 65/66B | €1,024 | €2,204 | +€1,179 | +115.2% |
| Recurring financial charges | 65 | €1,024 | €2,204 | +€1,179 | +115.2% |
| Profit (loss) for the period before taxes | 9903 | €11,295 | €4,754 | -€6,541 | -57.9% |
| Income taxes | 67/77 | €2,730 | €1,682 | -€1,048 | -38.4% |
| Profit (loss) for the period | 9904 | €8,566 | €3,072 | -€5,493 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,566 | €3,072 | -€5,493 | -64.1% |
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.