Masi Support: 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 Support
Largest movements
- Cash +€96,845
up €96,845 (+83.6%), from €115,867 to €212,712
mainly Current investments (+€74,990) and Net result for the year (+€52,490)
- Current investments -€74,990
no longer reported in 2025 (was €74,990)
- Reserves +€52,490
up €52,490 (+7.8%), from €673,322 to €725,812
- Current portion of long-term debt -€40,826
no longer reported in 2025 (was €40,826)
- Gross operating margin +€16,288
up €16,288 (+24.6%), from €66,108 to €82,396
- Taxes +€7,190
up €7,190 (+45.2%), from €15,895 to €23,085
- Financial income +€1,858
up €1,858 (+255.8%), from €727 to €2,585
- Depreciation -€1,047
down €1,047 (-27.5%), from €3,807 to €2,760
- Other operating charges -€830
down €830 (-37.5%), from €2,216 to €1,386
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.
Cash bridge derived
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 | €737,533 | €755,553 | +€18,020 | +2.4% |
| Fixed assets | 21/28 | €531,913 | €531,176 | -€736 | -0.1% |
| Tangible fixed assets | 22/27 | €6,913 | €6,176 | -€736 | -10.7% |
| Plant, machinery and equipment | 23 | €0 | €1,711 | +€1,711 | |
| Furniture and vehicles | 24 | €1,249 | €244 | -€1,005 | -80.4% |
| Other tangible fixed assets | 26 | €5,664 | €4,221 | -€1,443 | -25.5% |
| Financial fixed assets | 28 | €525,000 | €525,000 | = | 0.0% |
| Current assets | 29/58 | €205,621 | €224,377 | +€18,756 | +9.1% |
| Amounts receivable within one year | 40/41 | €12,960 | €9,551 | -€3,409 | -26.3% |
| Trade receivables | 40 | €12,960 | €9,075 | -€3,885 | -30.0% |
| Other amounts receivable | 41 | - | €476 | +€476 | |
| Current investments | 50/53 | €74,990 | - | -€74,990 | |
| Cash at bank and in hand | 54/58 | €115,867 | €212,712 | +€96,845 | +83.6% |
| Deferred charges and accrued income | 490/1 | €1,804 | €2,113 | +€310 | +17.2% |
| Total equity and liabilities | 10/49 | €737,533 | €755,553 | +€18,020 | +2.4% |
| Equity | 10/15 | €691,872 | €744,362 | +€52,490 | +7.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €673,322 | €725,812 | +€52,490 | +7.8% |
| Distributable reserves | 133 | €673,322 | €725,812 | +€52,490 | +7.8% |
| Amounts payable | 17/49 | €45,661 | €11,191 | -€34,470 | -75.5% |
| Amounts payable within one year | 42/48 | €45,661 | €11,191 | -€34,470 | -75.5% |
| Current portion of amounts payable after more than one year | 42 | €40,826 | - | -€40,826 | |
| Trade debts | 44 | €1,040 | €1,535 | +€495 | +47.6% |
| Suppliers | 440/4 | €1,040 | €1,535 | +€495 | +47.6% |
| Taxes, remuneration and social security | 45 | €2,231 | €4,810 | +€2,579 | +115.6% |
| Taxes | 450/3 | €2,231 | €4,810 | +€2,579 | +115.6% |
| Other amounts payable | 47/48 | €1,565 | €4,846 | +€3,281 | +209.7% |
| Remuneration, social security and pensions | 62 | €2,100 | €2,100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,807 | €2,760 | -€1,047 | -27.5% |
| Other operating charges | 640/8 | €2,216 | €1,386 | -€830 | -37.5% |
| Gross operating margin | 9900 | €66,108 | €82,396 | +€16,288 | +24.6% |
| Operating profit (loss) | 9901 | €57,986 | €76,150 | +€18,165 | +31.3% |
| Financial income | 75/76B | €727 | €2,585 | +€1,858 | +255.8% |
| Recurring financial income | 75 | €727 | €2,585 | +€1,858 | +255.8% |
| Financial charges | 65/66B | €2,482 | €3,160 | +€677 | +27.3% |
| Recurring financial charges | 65 | €2,482 | €3,160 | +€677 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €56,230 | €75,575 | +€19,346 | +34.4% |
| Income taxes | 67/77 | €15,895 | €23,085 | +€7,190 | +45.2% |
| Profit (loss) for the period | 9904 | €40,335 | €52,490 | +€12,155 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,335 | €52,490 | +€12,155 | +30.1% |
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 12 October 2026 via checked.be.