MASIA: 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.
MASIA
Largest movements
- Cash +€12,636
up €12,636 (+7.4%), from €169,935 to €182,571
mainly Depreciation (+€10,745) and Net result for the year (+€2,104)
- Tangible fixed assets -€10,745
down €10,745 (-7.9%), from €136,732 to €125,987
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€6,554
up €6,554 (+69.1%), from €9,479 to €16,033
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 | €316,565 | €319,369 | +€2,804 | +0.9% |
| Fixed assets | 21/28 | €136,732 | €125,987 | -€10,745 | -7.9% |
| Tangible fixed assets | 22/27 | €136,732 | €125,987 | -€10,745 | -7.9% |
| Land and buildings | 22 | €136,732 | €125,987 | -€10,745 | -7.9% |
| Current assets | 29/58 | €179,834 | €193,382 | +€13,548 | +7.5% |
| Amounts receivable within one year | 40/41 | €9,898 | €10,811 | +€913 | +9.2% |
| Trade receivables | 40 | €6,696 | €6,696 | = | 0.0% |
| Other amounts receivable | 41 | €3,203 | €4,115 | +€913 | +28.5% |
| Cash at bank and in hand | 54/58 | €169,935 | €182,571 | +€12,636 | +7.4% |
| Total equity and liabilities | 10/49 | €316,565 | €319,369 | +€2,804 | +0.9% |
| Equity | 10/15 | €158,029 | €160,133 | +€2,104 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,569 | €139,673 | +€2,104 | +1.5% |
| Amounts payable | 17/49 | €158,536 | €159,235 | +€699 | +0.4% |
| Amounts payable within one year | 42/48 | €158,536 | €159,235 | +€699 | +0.4% |
| Trade debts | 44 | €14,501 | €15,200 | +€699 | +4.8% |
| Suppliers | 440/4 | €14,501 | €15,200 | +€699 | +4.8% |
| Other amounts payable | 47/48 | €144,035 | €144,035 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,745 | €10,745 | = | 0.0% |
| Other operating charges | 640/8 | €2,823 | €2,912 | +€89 | +3.1% |
| Gross operating margin | 9900 | €9,479 | €16,033 | +€6,554 | +69.1% |
| Operating profit (loss) | 9901 | -€4,089 | €2,376 | +€6,465 | |
| Financial charges | 65/66B | €238 | €272 | +€34 | +14.3% |
| Recurring financial charges | 65 | €238 | €272 | +€34 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,327 | €2,104 | +€6,431 | |
| Profit (loss) for the period | 9904 | -€4,327 | €2,104 | +€6,431 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,327 | €2,104 | +€6,431 |
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 19 October 2026 via checked.be.