MASETTIMMO: 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.
MASETTIMMO
Largest movements
- Receivables within one year +€59,412
up €59,412 (+40.9%), from €145,379 to €204,792
of which Trade receivables: +€59,436
- Tangible fixed assets -€44,311
down €44,311 (-7.5%), from €592,754 to €548,443
of which Leasing and similar rights: -€61,686
- Cash -€35,457
down €35,457 (-91.5%), from €38,742 to €3,285
mainly Investment in fixed assets (net) (-€113,904) and Receivables within one year (-€59,412)
- Deferred charges and accrued income -€32,710
down €32,710 (-90.1%), from €36,312 to €3,601
- Debts after one year -€48,109
down €48,109 (-10.2%), from €470,076 to €421,968
- Profit (loss) carried forward -€42,711
no longer reported in 2025 (was €42,711)
- Current portion of long-term debt +€24,740
up €24,740 (+24.5%), from €101,083 to €125,823
- Other debts +€19,951
up €19,951 (+862%), from €2,314 to €22,265
- Trade debts -€19,000
down €19,000 (-18.6%), from €101,956 to €82,956
- Depreciation +€105,755
up €105,755 (+202%), from €52,460 to €158,215
- Gross operating margin +€60,240
up €60,240 (+26.3%), from €229,481 to €289,721
- Staff costs +€25,954
up €25,954 (+60.7%), from €42,785 to €68,740
- Taxes -€11,794
down €11,794 (-62.0%), from €19,026 to €7,231
- Financial charges +€8,328
up €8,328 (+52.4%), from €15,881 to €24,209
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 | €813,187 | €760,121 | -€53,066 | -6.5% |
| Fixed assets | 21/28 | €592,754 | €548,443 | -€44,311 | -7.5% |
| Tangible fixed assets | 22/27 | €592,754 | €548,443 | -€44,311 | -7.5% |
| Plant, machinery and equipment | 23 | €1,063 | €784 | -€279 | -26.3% |
| Furniture and vehicles | 24 | - | €16,758 | +€16,758 | |
| Leasing and similar rights | 25 | €591,691 | €530,005 | -€61,686 | -10.4% |
| Other tangible fixed assets | 26 | - | €896 | +€896 | |
| Current assets | 29/58 | €220,433 | €211,678 | -€8,755 | -4.0% |
| Amounts receivable within one year | 40/41 | €145,379 | €204,792 | +€59,412 | +40.9% |
| Trade receivables | 40 | €142,355 | €201,792 | +€59,436 | +41.8% |
| Other amounts receivable | 41 | €3,024 | €3,000 | -€24 | -0.8% |
| Cash at bank and in hand | 54/58 | €38,742 | €3,285 | -€35,457 | -91.5% |
| Deferred charges and accrued income | 490/1 | €36,312 | €3,601 | -€32,710 | -90.1% |
| Total equity and liabilities | 10/49 | €813,187 | €760,121 | -€53,066 | -6.5% |
| Equity | 10/15 | €95,711 | €60,869 | -€34,842 | -36.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €57,869 | +€7,869 | +15.7% |
| Distributable reserves | 133 | €50,000 | €57,869 | +€7,869 | +15.7% |
| Profit (loss) carried forward | 14 | €42,711 | - | -€42,711 | |
| Amounts payable | 17/49 | €717,476 | €699,251 | -€18,224 | -2.5% |
| Amounts payable after more than one year | 17 | €470,076 | €421,968 | -€48,109 | -10.2% |
| Financial debts | 170/4 | €470,076 | €421,968 | -€48,109 | -10.2% |
| Amounts payable within one year | 42/48 | €247,400 | €277,284 | +€29,884 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €101,083 | €125,823 | +€24,740 | +24.5% |
| Financial debts | 43 | - | €9,792 | +€9,792 | |
| Credit institutions | 430/8 | - | €9,792 | +€9,792 | |
| Trade debts | 44 | €101,956 | €82,956 | -€19,000 | -18.6% |
| Suppliers | 440/4 | €101,956 | €82,956 | -€19,000 | -18.6% |
| Advances received on contracts in progress | 46 | €10,000 | - | -€10,000 | |
| Taxes, remuneration and social security | 45 | €32,046 | €36,447 | +€4,401 | +13.7% |
| Taxes | 450/3 | €30,300 | €32,388 | +€2,088 | +6.9% |
| Remuneration and social security | 454/9 | €1,746 | €4,060 | +€2,313 | +132% |
| Other amounts payable | 47/48 | €2,314 | €22,265 | +€19,951 | +862% |
| Non-recurring operating income | 76A | - | €36,500 | +€36,500 | |
| Remuneration, social security and pensions | 62 | €42,785 | €68,740 | +€25,954 | +60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,460 | €158,215 | +€105,755 | +202% |
| Other operating charges | 640/8 | €6,617 | €14,925 | +€8,308 | +126% |
| Gross operating margin | 9900 | €229,481 | €289,721 | +€60,240 | +26.3% |
| Operating profit (loss) | 9901 | €127,618 | €47,840 | -€79,778 | -62.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15,881 | €24,209 | +€8,328 | +52.4% |
| Recurring financial charges | 65 | €15,881 | €24,209 | +€8,328 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €111,736 | €23,631 | -€88,106 | -78.9% |
| Income taxes | 67/77 | €19,026 | €7,231 | -€11,794 | -62.0% |
| Profit (loss) for the period | 9904 | €92,711 | €16,400 | -€76,311 | -82.3% |
| Profit (loss) for the period to be appropriated | 9905 | €92,711 | €16,400 | -€76,311 | -82.3% |
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 13 October 2026 via checked.be.