MASHA IMMO: 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.
MASHA IMMO
Largest movements
- Stocks and contracts -€685,752
down €685,752 (-88.4%), from €775,752 to €90,000
- Tangible fixed assets +€188,025
up €188,025 (+36.7%), from €512,951 to €700,977
- Short-term financial debts -€393,394
down €393,394 (-72.8%), from €540,394 to €147,000
- Debts after one year -€106,266
down €106,266 (-61.6%), from €172,556 to €66,290
- Other debts +€23,402
up €23,402 (+4.9%), from €475,119 to €498,520
- Gross operating margin +€47,570
up €47,570 (+2,428%), from €1,959 to €49,529
- Financial charges +€20,852
up €20,852 (+171%), from €12,182 to €33,035
- Depreciation +€6,402
up €6,402 (+45.0%), from €14,227 to €20,629
- Other operating charges +€3,769
up €3,769 (+956%), from €394 to €4,164
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 | €1,300,201 | €810,661 | -€489,540 | -37.7% |
| Fixed assets | 21/28 | €512,951 | €700,977 | +€188,025 | +36.7% |
| Tangible fixed assets | 22/27 | €512,951 | €700,977 | +€188,025 | +36.7% |
| Land and buildings | 22 | €512,951 | €700,977 | +€188,025 | +36.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €787,249 | €109,684 | -€677,565 | -86.1% |
| Stocks and contracts in progress | 3 | €775,752 | €90,000 | -€685,752 | -88.4% |
| Stocks | 30/36 | €775,752 | €90,000 | -€685,752 | -88.4% |
| Amounts receivable within one year | 40/41 | €6,650 | €9,607 | +€2,957 | +44.5% |
| Trade receivables | 40 | €0 | €2,500 | +€2,500 | |
| Other amounts receivable | 41 | €6,650 | €7,107 | +€457 | +6.9% |
| Cash at bank and in hand | 54/58 | €4 | €9,688 | +€9,685 | +276,703% |
| Deferred charges and accrued income | 490/1 | €4,844 | €389 | -€4,455 | -92.0% |
| Total equity and liabilities | 10/49 | €1,300,201 | €810,661 | -€489,540 | -37.7% |
| Equity | 10/15 | €78,748 | €70,683 | -€8,065 | -10.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,748 | €683 | -€8,065 | -92.2% |
| Amounts payable | 17/49 | €1,221,453 | €739,978 | -€481,475 | -39.4% |
| Amounts payable after more than one year | 17 | €172,556 | €66,290 | -€106,266 | -61.6% |
| Financial debts | 170/4 | €172,556 | €66,290 | -€106,266 | -61.6% |
| Amounts payable within one year | 42/48 | €1,048,897 | €673,687 | -€375,209 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €17,275 | €6,983 | -€10,292 | -59.6% |
| Financial debts | 43 | €540,394 | €147,000 | -€393,394 | -72.8% |
| Credit institutions | 430/8 | €540,394 | €147,000 | -€393,394 | -72.8% |
| Trade debts | 44 | €8,081 | €19,800 | +€11,719 | +145% |
| Suppliers | 440/4 | €8,081 | €19,800 | +€11,719 | +145% |
| Advances received on contracts in progress | 46 | - | €1,385 | +€1,385 | |
| Taxes, remuneration and social security | 45 | €8,028 | - | -€8,028 | |
| Taxes | 450/3 | €8,028 | - | -€8,028 | |
| Other amounts payable | 47/48 | €475,119 | €498,520 | +€23,402 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,227 | €20,629 | +€6,402 | +45.0% |
| Other operating charges | 640/8 | €394 | €4,164 | +€3,769 | +956% |
| Gross operating margin | 9900 | €1,959 | €49,529 | +€47,570 | +2,428% |
| Operating profit (loss) | 9901 | -€12,662 | €24,737 | +€37,399 | |
| Financial income | 75/76B | €30 | €234 | +€204 | +680% |
| Recurring financial income | 75 | €30 | €234 | +€204 | +680% |
| Financial charges | 65/66B | €12,182 | €33,035 | +€20,852 | +171% |
| Recurring financial charges | 65 | €12,182 | €33,035 | +€20,852 | +171% |
| Profit (loss) for the period before taxes | 9903 | -€24,815 | -€8,065 | +€16,750 | +67.5% |
| Profit (loss) for the period | 9904 | -€24,815 | -€8,065 | +€16,750 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,815 | -€8,065 | +€16,750 | +67.5% |
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 14 October 2026 via checked.be.