MASOJO: 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.
MASOJO
Largest movements
- Receivables within one year +€37,582
up €37,582 (+28.8%), from €130,418 to €168,000
of which Other amounts receivable: +€41,031
- Cash +€8,753
up €8,753 (+188.1%), from €4,654 to €13,408
mainly Net result for the year (+€35,635) and Current portion of long-term debt (+€8,000)
- Profit (loss) carried forward +€35,635
up €35,635 (+35.6%), from €100,162 to €135,797
- Current portion of long-term debt +€8,000
new in 2025: €8,000
- Tax, wage and social debts +€2,992
up €2,992 (+10.4%), from €28,820 to €31,811
- Gross operating margin -€85,136
down €85,136 (-65.7%), from €129,639 to €44,502
- Taxes -€17,828
down €17,828 (-61.9%), from €28,820 to €10,992
- Financial income +€2,503
up €2,503 (+50.5%), from €4,956 to €7,459
- Financial charges -€1,335
down €1,335 (-29.9%), from €4,461 to €3,126
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 | €136,445 | €182,587 | +€46,142 | +33.8% |
| Fixed assets | 21/28 | €861 | €521 | -€340 | -39.5% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €860 | €520 | -€340 | -39.5% |
| Plant, machinery and equipment | 23 | €860 | €520 | -€340 | -39.5% |
| Current assets | 29/58 | €135,584 | €182,066 | +€46,482 | +34.3% |
| Amounts receivable within one year | 40/41 | €130,418 | €168,000 | +€37,582 | +28.8% |
| Trade receivables | 40 | €15,163 | €11,714 | -€3,448 | -22.7% |
| Other amounts receivable | 41 | €115,255 | €156,286 | +€41,031 | +35.6% |
| Cash at bank and in hand | 54/58 | €4,654 | €13,408 | +€8,753 | +188.1% |
| Deferred charges and accrued income | 490/1 | €512 | €658 | +€146 | +28.6% |
| Total equity and liabilities | 10/49 | €136,445 | €182,587 | +€46,142 | +33.8% |
| Equity | 10/15 | €105,162 | €140,797 | +€35,635 | +33.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,162 | €135,797 | +€35,635 | +35.6% |
| Amounts payable | 17/49 | €31,282 | €41,790 | +€10,507 | +33.6% |
| Amounts payable within one year | 42/48 | €30,998 | €41,790 | +€10,792 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | - | €8,000 | +€8,000 | |
| Trade debts | 44 | €2,178 | €1,978 | -€200 | -9.2% |
| Suppliers | 440/4 | €2,178 | €1,978 | -€200 | -9.2% |
| Taxes, remuneration and social security | 45 | €28,820 | €31,811 | +€2,992 | +10.4% |
| Taxes | 450/3 | €28,820 | €31,811 | +€2,992 | +10.4% |
| Accrued charges and deferred income | 492/3 | €285 | €0 | -€285 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160 | €340 | +€180 | +112.8% |
| Other operating charges | 640/8 | €992 | €918 | -€74 | -7.5% |
| Non-recurring operating charges | 66A | - | €952 | +€952 | |
| Gross operating margin | 9900 | €129,639 | €44,502 | -€85,136 | -65.7% |
| Operating profit (loss) | 9901 | €128,487 | €42,293 | -€86,194 | -67.1% |
| Financial income | 75/76B | €4,956 | €7,459 | +€2,503 | +50.5% |
| Recurring financial income | 75 | €4,956 | €7,459 | +€2,503 | +50.5% |
| Financial charges | 65/66B | €4,461 | €3,126 | -€1,335 | -29.9% |
| Recurring financial charges | 65 | €4,461 | €3,126 | -€1,335 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €128,982 | €46,626 | -€82,356 | -63.9% |
| Income taxes | 67/77 | €28,820 | €10,992 | -€17,828 | -61.9% |
| Profit (loss) for the period | 9904 | €100,162 | €35,635 | -€64,528 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €100,162 | €35,635 | -€64,528 | -64.4% |
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 10 October 2026 via checked.be.