MASEOS: 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.
MASEOS
Largest movements
- Deferred charges and accrued income -€16,441
down €16,441 (-32.7%), from €50,355 to €33,914
- Receivables within one year +€12,547
up €12,547 (+53.0%), from €23,670 to €36,217
of which Trade receivables: +€11,179
- Tangible fixed assets -€4,155
down €4,155 (-27.3%), from €15,228 to €11,073
of which Furniture and vehicles: -€2,784
- Cash +€2,446
new in 2025: €2,446
mainly Deferred charges and accrued income (+€16,441) and Trade debts (+€11,872)
- Trade debts +€11,872
up €11,872 (+392%), from €3,025 to €14,897
- Other debts -€10,298
down €10,298 (-28.4%), from €36,225 to €25,927
- Current portion of long-term debt -€4,211
down €4,211 (-20.8%), from €20,279 to €16,068
- Tax, wage and social debts -€4,136
no longer reported in 2025 (was €4,136)
- Reserves +€1,238
up €1,238 (+22.4%), from €5,520 to €6,759
- Gross operating margin +€12,338
up €12,338, from -€949 to €11,388
- Financial charges +€1,774
up €1,774 (+46.0%), from €3,858 to €5,632
- Depreciation -€425
down €425 (-9.3%), from €4,580 to €4,155
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,253 | €83,650 | -€5,602 | -6.3% |
| Fixed assets | 21/28 | €15,228 | €11,073 | -€4,155 | -27.3% |
| Tangible fixed assets | 22/27 | €15,228 | €11,073 | -€4,155 | -27.3% |
| Land and buildings | 22 | €4,360 | €3,774 | -€586 | -13.4% |
| Furniture and vehicles | 24 | €6,258 | €3,473 | -€2,784 | -44.5% |
| Other tangible fixed assets | 26 | €4,610 | €3,825 | -€784 | -17.0% |
| Current assets | 29/58 | €74,025 | €72,577 | -€1,447 | -2.0% |
| Amounts receivable within one year | 40/41 | €23,670 | €36,217 | +€12,547 | +53.0% |
| Trade receivables | 40 | €23,670 | €34,849 | +€11,179 | +47.2% |
| Other amounts receivable | 41 | - | €1,368 | +€1,368 | |
| Cash at bank and in hand | 54/58 | - | €2,446 | +€2,446 | |
| Deferred charges and accrued income | 490/1 | €50,355 | €33,914 | -€16,441 | -32.7% |
| Total equity and liabilities | 10/49 | €89,253 | €83,650 | -€5,602 | -6.3% |
| Equity | 10/15 | €25,520 | €26,759 | +€1,238 | +4.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,520 | €6,759 | +€1,238 | +22.4% |
| Distributable reserves | 133 | €5,520 | €6,759 | +€1,238 | +22.4% |
| Amounts payable | 17/49 | €63,732 | €56,892 | -€6,841 | -10.7% |
| Amounts payable within one year | 42/48 | €63,732 | €56,892 | -€6,841 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €20,279 | €16,068 | -€4,211 | -20.8% |
| Financial debts | 43 | €67 | - | -€67 | |
| Credit institutions | 430/8 | €67 | - | -€67 | |
| Trade debts | 44 | €3,025 | €14,897 | +€11,872 | +392% |
| Suppliers | 440/4 | €3,025 | €14,897 | +€11,872 | +392% |
| Taxes, remuneration and social security | 45 | €4,136 | - | -€4,136 | |
| Taxes | 450/3 | €4,136 | - | -€4,136 | |
| Other amounts payable | 47/48 | €36,225 | €25,927 | -€10,298 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,580 | €4,155 | -€425 | -9.3% |
| Other operating charges | 640/8 | €408 | €363 | -€45 | -11.0% |
| Gross operating margin | 9900 | -€949 | €11,388 | +€12,338 | |
| Operating profit (loss) | 9901 | -€5,937 | €6,870 | +€12,808 | |
| Financial charges | 65/66B | €3,858 | €5,632 | +€1,774 | +46.0% |
| Recurring financial charges | 65 | €3,858 | €5,632 | +€1,774 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,795 | €1,238 | +€11,034 | |
| Profit (loss) for the period | 9904 | -€9,795 | €1,238 | +€11,034 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,795 | €1,238 | +€11,034 |
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 17 October 2026 via checked.be.