MasPro: what changed
Two fiscal 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.
MasPro
Largest movements
- Stocks and contracts +€53,359
up €53,359 (+62.1%), from €85,911 to €139,270
- Tangible fixed assets +€42,411
up €42,411 (+7.3%), from €584,000 to €626,411
of which Plant, machinery and equipment: +€49,610
- Receivables within one year -€35,534
down €35,534 (-46.8%), from €75,986 to €40,451
of which Trade receivables: -€35,513
- Cash -€9,901
down €9,901 (-49.2%), from €20,133 to €10,232
mainly Investment in fixed assets (net) (-€107,529) and Stocks and contracts (-€53,359)
- Debts after one year +€41,497
up €41,497 (+7.9%), from €528,022 to €569,518
- Other debts +€37,782
up €37,782 (+1202.6%), from €3,142 to €40,924
- Reserves -€17,302
down €17,302 (-11.0%), from €157,310 to €140,009
- Trade debts -€8,904
down €8,904 (-57.3%), from €15,546 to €6,642
- Gross operating margin -€30,901
down €30,901 (-21.6%), from €143,349 to €112,449
- Depreciation +€11,031
up €11,031 (+20.4%), from €54,086 to €65,117
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 | €767,137 | €817,937 | +€50,799 | +6.6% |
| Fixed assets | 21/28 | €584,000 | €626,411 | +€42,411 | +7.3% |
| Tangible fixed assets | 22/27 | €584,000 | €626,411 | +€42,411 | +7.3% |
| Land and buildings | 22 | €442,732 | €409,339 | -€33,393 | -7.5% |
| Plant, machinery and equipment | 23 | €135,981 | €185,591 | +€49,610 | +36.5% |
| Furniture and vehicles | 24 | €5,287 | €31,481 | +€26,194 | +495.4% |
| Current assets | 29/58 | €183,138 | €191,526 | +€8,388 | +4.6% |
| Stocks and contracts in progress | 3 | €85,911 | €139,270 | +€53,359 | +62.1% |
| Stocks | 30/36 | €85,911 | €139,270 | +€53,359 | +62.1% |
| Amounts receivable within one year | 40/41 | €75,986 | €40,451 | -€35,534 | -46.8% |
| Trade receivables | 40 | €75,965 | €40,451 | -€35,513 | -46.7% |
| Other amounts receivable | 41 | €21 | - | -€21 | |
| Cash at bank and in hand | 54/58 | €20,133 | €10,232 | -€9,901 | -49.2% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,572 | +€464 | +41.9% |
| Total equity and liabilities | 10/49 | €767,137 | €817,937 | +€50,799 | +6.6% |
| Equity | 10/15 | €163,510 | €146,209 | -€17,302 | -10.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €157,310 | €140,009 | -€17,302 | -11.0% |
| Distributable reserves | 133 | €157,310 | €140,009 | -€17,302 | -11.0% |
| Amounts payable | 17/49 | €603,627 | €671,728 | +€68,101 | +11.3% |
| Amounts payable after more than one year | 17 | €528,022 | €569,518 | +€41,497 | +7.9% |
| Financial debts | 170/4 | €528,022 | €569,518 | +€41,497 | +7.9% |
| Amounts payable within one year | 42/48 | €75,391 | €102,075 | +€26,684 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €43,201 | €48,746 | +€5,545 | +12.8% |
| Trade debts | 44 | €15,546 | €6,642 | -€8,904 | -57.3% |
| Suppliers | 440/4 | €15,546 | €6,642 | -€8,904 | -57.3% |
| Taxes, remuneration and social security | 45 | €13,503 | €5,764 | -€7,739 | -57.3% |
| Taxes | 450/3 | €13,503 | €5,764 | -€7,739 | -57.3% |
| Other amounts payable | 47/48 | €3,142 | €40,924 | +€37,782 | +1202.6% |
| Accrued charges and deferred income | 492/3 | €214 | €135 | -€79 | -37.0% |
| Non-recurring operating income | 76A | €250 | €12,606 | +€12,356 | +4942.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,086 | €65,117 | +€11,031 | +20.4% |
| Other operating charges | 640/8 | €151 | €95 | -€57 | -37.6% |
| Gross operating margin | 9900 | €143,349 | €112,449 | -€30,901 | -21.6% |
| Operating profit (loss) | 9901 | €89,112 | €47,237 | -€41,875 | -47.0% |
| Financial income | 75/76B | €3,177 | €3,442 | +€265 | +8.3% |
| Recurring financial income | 75 | €3,177 | €3,442 | +€265 | +8.3% |
| Financial charges | 65/66B | €19,080 | €19,503 | +€423 | +2.2% |
| Recurring financial charges | 65 | €19,080 | €19,503 | +€423 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €73,209 | €31,176 | -€42,033 | -57.4% |
| Income taxes | 67/77 | €8,527 | €8,011 | -€516 | -6.1% |
| Profit (loss) for the period | 9904 | €64,682 | €23,165 | -€41,517 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €64,682 | €23,165 | -€41,517 | -64.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.