Masis 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.
Masis Group
Largest movements
- Tangible fixed assets -€33,197
down €33,197 (-59.6%), from €55,703 to €22,507
of which Furniture and vehicles: -€33,052
- Receivables within one year +€24,286
up €24,286 (+2,738%), from €887 to €25,173
of which Trade receivables: +€13,777
- Cash +€4,677
up €4,677 (+84.5%), from €5,536 to €10,213
mainly Investment in fixed assets (net) (+€28,504) and Current portion of long-term debt (+€10,179)
- Deferred charges and accrued income +€826
up €826 (+64.8%), from €1,275 to €2,102
- Other debts -€18,680
no longer reported in 2025 (was €18,680)
- Current portion of long-term debt +€10,179
up €10,179 (+45.5%), from €22,361 to €32,540
- Trade debts +€3,902
up €3,902, from €0 to €3,902
- Debts after one year -€2,553
down €2,553 (-5.4%), from €47,188 to €44,634
- Profit (loss) carried forward +€2,086
up €2,086 (+7.0%), from -€29,893 to -€27,807
- Gross operating margin +€34,806
up €34,806, from -€13,988 to €20,818
- Depreciation -€13,038
down €13,038 (-72.4%), from €18,011 to €4,973
- Other operating charges +€3,388
up €3,388 (+508%), from €667 to €4,055
- Financial charges +€2,565
up €2,565 (+110%), from €2,339 to €4,904
- Financial income +€1,169
new in 2025: €1,169
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 | €65,711 | €62,024 | -€3,687 | -5.6% |
| Fixed assets | 21/28 | €58,012 | €24,536 | -€33,477 | -57.7% |
| Intangible fixed assets | 21 | €2,309 | €2,029 | -€280 | -12.1% |
| Tangible fixed assets | 22/27 | €55,703 | €22,507 | -€33,197 | -59.6% |
| Plant, machinery and equipment | 23 | €1,562 | €1,417 | -€145 | -9.3% |
| Furniture and vehicles | 24 | €54,142 | €21,090 | -€33,052 | -61.0% |
| Current assets | 29/58 | €7,698 | €37,488 | +€29,790 | +387% |
| Amounts receivable within one year | 40/41 | €887 | €25,173 | +€24,286 | +2,738% |
| Trade receivables | 40 | €6 | €13,783 | +€13,777 | +227,723% |
| Other amounts receivable | 41 | €881 | €11,390 | +€10,509 | +1,193% |
| Cash at bank and in hand | 54/58 | €5,536 | €10,213 | +€4,677 | +84.5% |
| Deferred charges and accrued income | 490/1 | €1,275 | €2,102 | +€826 | +64.8% |
| Total equity and liabilities | 10/49 | €65,711 | €62,024 | -€3,687 | -5.6% |
| Equity | 10/15 | -€24,893 | -€22,807 | +€2,086 | +8.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,893 | -€27,807 | +€2,086 | +7.0% |
| Amounts payable | 17/49 | €90,604 | €84,830 | -€5,773 | -6.4% |
| Amounts payable after more than one year | 17 | €47,188 | €44,634 | -€2,553 | -5.4% |
| Financial debts | 170/4 | €47,188 | €44,634 | -€2,553 | -5.4% |
| Amounts payable within one year | 42/48 | €43,416 | €40,196 | -€3,220 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €22,361 | €32,540 | +€10,179 | +45.5% |
| Trade debts | 44 | €0 | €3,902 | +€3,902 | |
| Suppliers | 440/4 | €0 | €3,902 | +€3,902 | |
| Taxes, remuneration and social security | 45 | €2,374 | €3,755 | +€1,380 | +58.1% |
| Taxes | 450/3 | €2,374 | €755 | -€1,620 | -68.2% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €18,680 | - | -€18,680 | |
| Non-recurring operating income | 76A | - | €966 | +€966 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,011 | €4,973 | -€13,038 | -72.4% |
| Other operating charges | 640/8 | €667 | €4,055 | +€3,388 | +508% |
| Non-recurring operating charges | 66A | - | €5,914 | +€5,914 | |
| Gross operating margin | 9900 | -€13,988 | €20,818 | +€34,806 | |
| Operating profit (loss) | 9901 | -€32,666 | €5,876 | +€38,542 | |
| Financial income | 75/76B | - | €1,169 | +€1,169 | |
| Recurring financial income | 75 | - | €1,169 | +€1,169 | |
| Financial charges | 65/66B | €2,339 | €4,904 | +€2,565 | +110% |
| Recurring financial charges | 65 | €2,339 | €4,904 | +€2,565 | +110% |
| Profit (loss) for the period before taxes | 9903 | -€35,005 | €2,141 | +€37,145 | |
| Income taxes | 67/77 | €195 | €55 | -€140 | -71.9% |
| Profit (loss) for the period | 9904 | -€35,199 | €2,086 | +€37,285 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,199 | €2,086 | +€37,285 |
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 18 October 2026 via checked.be.