Masi Consulting: 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.
Masi Consulting
Largest movements
- Tangible fixed assets +€26,931
up €26,931 (+207%), from €13,005 to €39,936
of which Furniture and vehicles: +€27,553
- Cash -€18,739
down €18,739 (-38.9%), from €48,145 to €29,406
mainly Investment in fixed assets (net) (-€39,481) and Contributions, distributions and other (-€11,917)
- Receivables within one year +€3,329
up €3,329 (+211%), from €1,579 to €4,907
of which Trade receivables: +€4,425
- Deferred charges and accrued income -€2,353
down €2,353 (-60.4%), from €3,897 to €1,544
- Other debts +€10,129
new in 2025: €10,129
- Tax, wage and social debts -€5,406
down €5,406 (-33.5%), from €16,147 to €10,741
- Trade debts +€4,443
up €4,443 (+1,100%), from €404 to €4,847
- Depreciation +€11,299
up €11,299 (+903%), from €1,251 to €12,550
- Gross operating margin -€9,619
down €9,619 (-23.8%), from €40,503 to €30,883
- Taxes -€6,131
down €6,131 (-54.5%), from €11,254 to €5,124
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 | €66,669 | €75,836 | +€9,167 | +13.8% |
| Fixed assets | 21/28 | €13,048 | €39,979 | +€26,931 | +206% |
| Tangible fixed assets | 22/27 | €13,005 | €39,936 | +€26,931 | +207% |
| Furniture and vehicles | 24 | €7,358 | €34,911 | +€27,553 | +374% |
| Other tangible fixed assets | 26 | €5,647 | €5,025 | -€622 | -11.0% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €53,621 | €35,857 | -€17,764 | -33.1% |
| Amounts receivable within one year | 40/41 | €1,579 | €4,907 | +€3,329 | +211% |
| Trade receivables | 40 | €50 | €4,475 | +€4,425 | +8,785% |
| Other amounts receivable | 41 | €1,528 | €432 | -€1,096 | -71.7% |
| Cash at bank and in hand | 54/58 | €48,145 | €29,406 | -€18,739 | -38.9% |
| Deferred charges and accrued income | 490/1 | €3,897 | €1,544 | -€2,353 | -60.4% |
| Total equity and liabilities | 10/49 | €66,669 | €75,836 | +€9,167 | +13.8% |
| Equity | 10/15 | €50,119 | €50,119 | = | 0.0% |
| Contributions | 10/11 | €1,600 | €1,600 | = | 0.0% |
| Reserves | 13 | €48,519 | €48,519 | = | 0.0% |
| Distributable reserves | 133 | €48,519 | €48,519 | = | 0.0% |
| Amounts payable | 17/49 | €16,550 | €25,718 | +€9,167 | +55.4% |
| Amounts payable within one year | 42/48 | €16,550 | €25,718 | +€9,167 | +55.4% |
| Trade debts | 44 | €404 | €4,847 | +€4,443 | +1,100% |
| Suppliers | 440/4 | €404 | €4,847 | +€4,443 | +1,100% |
| Taxes, remuneration and social security | 45 | €16,147 | €10,741 | -€5,406 | -33.5% |
| Taxes | 450/3 | €16,147 | €10,741 | -€5,406 | -33.5% |
| Other amounts payable | 47/48 | - | €10,129 | +€10,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,251 | €12,550 | +€11,299 | +903% |
| Other operating charges | 640/8 | €952 | €1,198 | +€246 | +25.9% |
| Non-recurring operating charges | 66A | - | €51 | +€51 | |
| Gross operating margin | 9900 | €40,503 | €30,883 | -€9,619 | -23.8% |
| Operating profit (loss) | 9901 | €38,300 | €17,084 | -€21,216 | -55.4% |
| Financial charges | 65/66B | €99 | €43 | -€56 | -56.4% |
| Recurring financial charges | 65 | €99 | €43 | -€56 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €38,201 | €17,041 | -€21,160 | -55.4% |
| Income taxes | 67/77 | €11,254 | €5,124 | -€6,131 | -54.5% |
| Profit (loss) for the period | 9904 | €26,946 | €11,917 | -€15,030 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,946 | €11,917 | -€15,030 | -55.8% |
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 24 October 2026 via checked.be.