MASINI: 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.
MASINI
Largest movements
- Cash -€46,083
down €46,083 (-99.8%), from €46,195 to €112
mainly Other debts (-€53,500) and Net result for the year (-€11,203)
- Receivables within one year -€14,810
down €14,810 (-6.3%), from €233,868 to €219,058
- Other debts -€53,500
down €53,500 (-45.4%), from €117,785 to €64,285
- Reserves -€11,203
down €11,203 (-7.9%), from €141,658 to €130,455
of which Distributable reserves: -€11,203
- Trade debts +€4,619
up €4,619 (+232%), from €1,994 to €6,613
- Gross operating margin -€4,277
down €4,277 (-151%), from -€2,827 to -€7,104
- Financial income -€1,544
down €1,544 (-46.1%), from €3,345 to €1,801
- Other operating charges -€908
down €908 (-62.3%), from €1,457 to €549
- Taxes -€783
no longer reported in 2025 (was €783)
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 | €313,408 | €252,516 | -€60,892 | -19.4% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Current assets | 29/58 | €313,408 | €252,516 | -€60,892 | -19.4% |
| Stocks and contracts in progress | 3 | €33,346 | €33,346 | = | 0.0% |
| Contracts in progress | 37 | €33,346 | €33,346 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €233,868 | €219,058 | -€14,810 | -6.3% |
| Other amounts receivable | 41 | €233,868 | €219,058 | -€14,810 | -6.3% |
| Cash at bank and in hand | 54/58 | €46,195 | €112 | -€46,083 | -99.8% |
| Total equity and liabilities | 10/49 | €313,408 | €252,516 | -€60,892 | -19.4% |
| Equity | 10/15 | €160,258 | €149,055 | -€11,203 | -7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €141,658 | €130,455 | -€11,203 | -7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €139,798 | €128,595 | -€11,203 | -8.0% |
| Amounts payable | 17/49 | €153,150 | €103,461 | -€49,689 | -32.4% |
| Amounts payable within one year | 42/48 | €153,150 | €103,461 | -€49,689 | -32.4% |
| Trade debts | 44 | €1,994 | €6,613 | +€4,619 | +232% |
| Suppliers | 440/4 | €1,994 | €6,613 | +€4,619 | +232% |
| Taxes, remuneration and social security | 45 | €33,371 | €32,563 | -€809 | -2.4% |
| Taxes | 450/3 | €33,371 | €32,563 | -€809 | -2.4% |
| Other amounts payable | 47/48 | €117,785 | €64,285 | -€53,500 | -45.4% |
| Other operating charges | 640/8 | €1,457 | €549 | -€908 | -62.3% |
| Gross operating margin | 9900 | -€2,827 | -€7,104 | -€4,277 | -151% |
| Operating profit (loss) | 9901 | -€4,283 | -€7,653 | -€3,370 | -78.7% |
| Financial income | 75/76B | €3,345 | €1,801 | -€1,544 | -46.1% |
| Recurring financial income | 75 | €3,345 | €1,801 | -€1,544 | -46.1% |
| Financial charges | 65/66B | €5,381 | €5,351 | -€30 | -0.6% |
| Recurring financial charges | 65 | €5,381 | €5,351 | -€30 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,320 | -€11,203 | -€4,883 | -77.3% |
| Income taxes | 67/77 | €783 | - | -€783 | |
| Profit (loss) for the period | 9904 | -€7,103 | -€11,203 | -€4,100 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,103 | -€11,203 | -€4,100 | -57.7% |
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 15 October 2026 via checked.be.