MASQUELIER: 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.
What changed
MASQUELIER
NACE 18.130, Pre-press and pre-media services
financial year 2021 compared with 2020filed annual accounts (NBB)
Net result for the year
-€324,359
2020 · -€281,199-€43,160
Equity
€917,066
2020 · €1.2m-€324,359
Cash
€79,533
2020 · €118,208-€38,676
Balance sheet total
€1.2m
2020 · €1.7m-€484,631
Largest movements
Assets
- Current assets -€506,119
down €506,119 (-31.7%), from €1.6m to €1.1m
- Tangible fixed assets +€26,802
up €26,802 (+26.5%), from €101,269 to €128,071
of which Land and buildings: +€72,281
Equity and liabilities
- Reserves -€324,359
down €324,359 (-37.7%), from €859,425 to €535,066
- Debts within one year -€189,194
down €189,194 (-40.3%), from €468,979 to €279,785
of which Trade debts: -€175,008
- Debts after one year +€29,145
new in 2021: €29,145
Income statement
- Staff costs +€820,826
new in 2021: €820,826
- Gross operating margin -€175,249
down €175,249 (-25.2%), from €694,861 to €519,613
- Financial income +€33,918
new in 2021: €33,918
- Other operating charges +€17,575
new in 2021: €17,575
- Depreciation -€11,943
down €11,943 (-29.9%), from €39,937 to €27,994
From the 2020 result to the 2021 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.
Result 2020
-€281,199
Gross operating margin
-€175,249
Staff costs
-€820,826
Depreciation
+€11,943
Other operating charges
-€17,575
Other operating items
+€938,185
Financial income
+€33,918
Financial charges
-€7,262
Other financial items
-€2,679
Taxes
-€3,615
Result 2021
-€324,359
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,710,626 | €1,225,995 | -€484,631 | -28.3% |
| Fixed assets | 21/28 | €113,735 | €135,224 | +€21,489 | +18.9% |
| Intangible fixed assets | 21 | €5,780 | €2,153 | -€3,627 | -62.8% |
| Tangible fixed assets | 22/27 | €101,269 | €128,071 | +€26,802 | +26.5% |
| Land and buildings | 22 | - | €72,281 | +€72,281 | |
| Plant, machinery and equipment | 23 | - | €7,292 | +€7,292 | |
| Furniture and vehicles | 24 | - | €47,599 | +€47,599 | |
| Other tangible fixed assets | 26 | - | €899 | +€899 | |
| Financial fixed assets | 28 | €6,686 | €5,000 | -€1,686 | -25.2% |
| Current assets | 29/58 | €1,596,891 | €1,090,771 | -€506,119 | -31.7% |
| Stocks and contracts in progress | 3 | €146,575 | €191,342 | +€44,767 | +30.5% |
| Stocks | 30/36 | - | €166,332 | +€166,332 | |
| Contracts in progress | 37 | - | €25,010 | +€25,010 | |
| Amounts receivable within one year | 40/41 | €492,509 | €262,597 | -€229,913 | -46.7% |
| Trade receivables | 40 | - | €237,644 | +€237,644 | |
| Other amounts receivable | 41 | - | €24,953 | +€24,953 | |
| Current investments | 50/53 | €792,545 | €547,891 | -€244,653 | -30.9% |
| Cash at bank and in hand | 54/58 | €118,208 | €79,533 | -€38,676 | -32.7% |
| Deferred charges and accrued income | 490/1 | - | €9,409 | +€9,409 | |
| Total equity and liabilities | 10/49 | €1,710,626 | €1,225,995 | -€484,631 | -28.3% |
| Equity | 10/15 | €1,241,425 | €917,066 | -€324,359 | -26.1% |
| Contributions | 10/11 | €382,000 | €382,000 | = | 0.0% |
| Capital | 10 | - | €382,000 | +€382,000 | |
| Issued capital | 100 | - | €382,000 | +€382,000 | |
| Reserves | 13 | €859,425 | €535,066 | -€324,359 | -37.7% |
| Non-distributable reserves | 130/1 | - | €38,200 | +€38,200 | |
| Legal reserve | 130 | - | €38,200 | +€38,200 | |
| Tax-exempt reserves | 132 | - | €337,976 | +€337,976 | |
| Distributable reserves | 133 | - | €158,889 | +€158,889 | |
| Amounts payable | 17/49 | €469,201 | €308,929 | -€160,272 | -34.2% |
| Amounts payable after more than one year | 17 | - | €29,145 | +€29,145 | |
| Financial debts | 170/4 | - | €29,145 | +€29,145 | |
| Amounts payable within one year | 42/48 | €468,979 | €279,785 | -€189,194 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,259 | +€9,259 | |
| Financial debts | 43 | - | €14,470 | +€14,470 | |
| Credit institutions | 430/8 | - | €14,470 | +€14,470 | |
| Trade debts | 44 | €278,225 | €103,216 | -€175,008 | -62.9% |
| Suppliers | 440/4 | - | €103,216 | +€103,216 | |
| Taxes, remuneration and social security | 45 | - | €143,829 | +€143,829 | |
| Taxes | 450/3 | - | €37,351 | +€37,351 | |
| Remuneration and social security | 454/9 | - | €106,478 | +€106,478 | |
| Other amounts payable | 47/48 | - | €9,010 | +€9,010 | |
| Non-recurring operating income | 76A | - | €23 | +€23 | |
| Remuneration, social security and pensions | 62 | - | €820,826 | +€820,826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,937 | €27,994 | -€11,943 | -29.9% |
| Other operating charges | 640/8 | - | €17,575 | +€17,575 | |
| Gross operating margin | 9900 | €694,861 | €519,613 | -€175,249 | -25.2% |
| Operating profit (loss) | 9901 | -€283,261 | -€346,782 | -€63,521 | -22.4% |
| Financial income | 75/76B | - | €33,918 | +€33,918 | |
| Recurring financial income | 75 | €13,856 | €33,918 | +€20,062 | +145% |
| Financial charges | 65/66B | - | €7,262 | +€7,262 | |
| Recurring financial charges | 65 | €11,176 | €7,262 | -€3,914 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | -€280,581 | -€320,126 | -€39,545 | -14.1% |
| Income taxes | 67/77 | €618 | €4,233 | +€3,615 | +585% |
| Profit (loss) for the period | 9904 | -€281,199 | -€324,359 | -€43,160 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€281,199 | -€324,359 | -€43,160 | -15.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.