MASHAL GROUP: 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.
MASHAL GROUP
Largest movements
- Stocks and contracts -€11,712
down €11,712 (-13.8%), from €84,989 to €73,277
- Cash -€2,363
down €2,363 (-66.4%), from €3,561 to €1,198
mainly Tax, wage and social debts (-€17,354) and Trade debts (-€1,529)
- Tax, wage and social debts -€17,354
down €17,354 (-68.8%), from €25,216 to €7,862
of which Remuneration and social security: -€18,573
- Profit (loss) carried forward +€3,649
up €3,649 (+36.5%), from €9,991 to €13,640
- Trade debts -€1,529
down €1,529 (-8.3%), from €18,513 to €16,984
- Other debts +€1,159
up €1,159 (+4.5%), from €25,740 to €26,899
- Turnover +€84,400
up €84,400 (+32.6%), from €258,632 to €343,032
- Purchases and services +€52,469
up €52,469 (+18.4%), from €285,415 to €337,884
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 | €88,550 | €74,475 | -€14,075 | -15.9% |
| Current assets | 29/58 | €88,550 | €74,475 | -€14,075 | -15.9% |
| Stocks and contracts in progress | 3 | €84,989 | €73,277 | -€11,712 | -13.8% |
| Stocks | 30/36 | €84,989 | €73,277 | -€11,712 | -13.8% |
| Cash at bank and in hand | 54/58 | €3,561 | €1,198 | -€2,363 | -66.4% |
| Total equity and liabilities | 10/49 | €88,550 | €74,475 | -€14,075 | -15.9% |
| Equity | 10/15 | €19,081 | €22,730 | +€3,649 | +19.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €2,890 | €2,890 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,890 | €2,890 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,890 | €2,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,991 | €13,640 | +€3,649 | +36.5% |
| Amounts payable | 17/49 | €69,469 | €51,745 | -€17,724 | -25.5% |
| Amounts payable within one year | 42/48 | €69,469 | €51,745 | -€17,724 | -25.5% |
| Trade debts | 44 | €18,513 | €16,984 | -€1,529 | -8.3% |
| Suppliers | 440/4 | €18,513 | €16,984 | -€1,529 | -8.3% |
| Taxes, remuneration and social security | 45 | €25,216 | €7,862 | -€17,354 | -68.8% |
| Taxes | 450/3 | €6,618 | €7,837 | +€1,219 | +18.4% |
| Remuneration and social security | 454/9 | €18,598 | €25 | -€18,573 | -99.9% |
| Other amounts payable | 47/48 | €25,740 | €26,899 | +€1,159 | +4.5% |
| Turnover | 70 | €258,632 | €343,032 | +€84,400 | +32.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €285,415 | €337,884 | +€52,469 | +18.4% |
| Other operating charges | 640/8 | €3,222 | €435 | -€2,787 | -86.5% |
| Gross operating margin | 9900 | €8,126 | €5,148 | -€2,978 | -36.6% |
| Operating profit (loss) | 9901 | €4,904 | €4,713 | -€191 | -3.9% |
| Financial charges | 65/66B | €171 | €151 | -€20 | -11.7% |
| Recurring financial charges | 65 | €171 | €151 | -€20 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €4,733 | €4,562 | -€171 | -3.6% |
| Income taxes | 67/77 | - | €913 | +€913 | |
| Profit (loss) for the period | 9904 | €4,733 | €3,649 | -€1,084 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,733 | €3,649 | -€1,084 | -22.9% |
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.