MASKO: 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.
MASKO
Largest movements
- Receivables within one year +€30,818
up €30,818 (+23.0%), from €134,228 to €165,045
of which Trade receivables: +€35,929
- Cash -€11,361
down €11,361 (-22.4%), from €50,800 to €39,439
mainly Trade debts (-€112,350) and Other debts (-€70,000)
- Debts after one year +€196,572
new in 2025: €196,572
- Trade debts -€112,350
down €112,350 (-72.5%), from €155,036 to €42,686
- Other debts -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Profit (loss) carried forward +€13,863
up €13,863 (+14.1%), from -€98,067 to -€84,203
- Tax, wage and social debts -€3,772
down €3,772 (-6.9%), from €55,003 to €51,231
of which Remuneration and social security: -€2,678
- Staff costs -€104,228
down €104,228 (-28.0%), from €372,303 to €268,075
- Gross operating margin +€18,631
up €18,631 (+6.4%), from €291,526 to €310,157
- Financial charges +€7,482
up €7,482 (+117.3%), from €6,379 to €13,861
- Depreciation +€3,534
up €3,534 (+49.0%), from €7,220 to €10,754
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 | €241,914 | €263,956 | +€22,042 | +9.1% |
| Fixed assets | 21/28 | €47,985 | €50,315 | +€2,330 | +4.9% |
| Tangible fixed assets | 22/27 | €47,985 | €50,315 | +€2,330 | +4.9% |
| Land and buildings | 22 | €2,500 | €2,500 | = | 0.0% |
| Furniture and vehicles | 24 | €45,485 | €47,815 | +€2,330 | +5.1% |
| Current assets | 29/58 | €193,929 | €213,641 | +€19,712 | +10.2% |
| Amounts receivable within one year | 40/41 | €134,228 | €165,045 | +€30,818 | +23.0% |
| Trade receivables | 40 | €129,117 | €165,045 | +€35,929 | +27.8% |
| Other amounts receivable | 41 | €5,111 | €0 | -€5,111 | -100.0% |
| Cash at bank and in hand | 54/58 | €50,800 | €39,439 | -€11,361 | -22.4% |
| Deferred charges and accrued income | 490/1 | €8,901 | €9,156 | +€255 | +2.9% |
| Total equity and liabilities | 10/49 | €241,914 | €263,956 | +€22,042 | +9.1% |
| Equity | 10/15 | -€40,396 | -€26,533 | +€13,863 | +34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,070 | €39,070 | = | 0.0% |
| 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 | €37,210 | €37,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,067 | -€84,203 | +€13,863 | +14.1% |
| Amounts payable | 17/49 | €282,310 | €290,489 | +€8,179 | +2.9% |
| Amounts payable after more than one year | 17 | - | €196,572 | +€196,572 | |
| Other amounts payable | 178/9 | - | €196,572 | +€196,572 | |
| Amounts payable within one year | 42/48 | €280,039 | €93,917 | -€186,122 | -66.5% |
| Trade debts | 44 | €155,036 | €42,686 | -€112,350 | -72.5% |
| Suppliers | 440/4 | €155,036 | €42,686 | -€112,350 | -72.5% |
| Taxes, remuneration and social security | 45 | €55,003 | €51,231 | -€3,772 | -6.9% |
| Taxes | 450/3 | €18,687 | €17,592 | -€1,094 | -5.9% |
| Remuneration and social security | 454/9 | €36,317 | €33,639 | -€2,678 | -7.4% |
| Other amounts payable | 47/48 | €70,000 | €0 | -€70,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,271 | €0 | -€2,271 | -100.0% |
| Non-recurring operating income | 76A | - | €4,731 | +€4,731 | |
| Remuneration, social security and pensions | 62 | €372,303 | €268,075 | -€104,228 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,220 | €10,754 | +€3,534 | +49.0% |
| Other operating charges | 640/8 | €2,788 | €2,686 | -€102 | -3.6% |
| Gross operating margin | 9900 | €291,526 | €310,157 | +€18,631 | +6.4% |
| Operating profit (loss) | 9901 | -€90,785 | €28,641 | +€119,426 | |
| Financial income | 75/76B | €0 | €15 | +€15 | |
| Recurring financial income | 75 | €0 | €15 | +€15 | |
| Financial charges | 65/66B | €6,379 | €13,861 | +€7,482 | +117.3% |
| Recurring financial charges | 65 | €6,379 | €13,861 | +€7,482 | +117.3% |
| Profit (loss) for the period before taxes | 9903 | -€97,163 | €14,796 | +€111,960 | |
| Income taxes | 67/77 | €903 | €933 | +€30 | +3.3% |
| Profit (loss) for the period | 9904 | -€98,067 | €13,863 | +€111,930 | |
| Profit (loss) for the period to be appropriated | 9905 | -€98,067 | €13,863 | +€111,930 |
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.