MASS: 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.
MASS
Largest movements
- Tangible fixed assets +€369,363
up €369,363 (+58.2%), from €634,671 to €1.0m
of which Land and buildings: +€367,342
- Receivables within one year +€36,494
up €36,494 (+244%), from €14,977 to €51,471
of which Trade receivables: +€50,370
- Deferred charges and accrued income +€31,981
up €31,981 (+4,458%), from €717 to €32,699
- Short-term financial debts +€300,000
new in 2025: €300,000
- Other debts +€206,871
up €206,871 (+628%), from €32,937 to €239,808
- Profit (loss) carried forward -€80,329
down €80,329 (-208%), from -€38,613 to -€118,942
- Debts after one year -€40,213
down €40,213 (-14.2%), from €283,217 to €243,005
- Tax, wage and social debts +€37,638
up €37,638 (+384%), from €9,809 to €47,447
- Other operating charges +€41,392
up €41,392 (+348%), from €11,905 to €53,298
- Gross operating margin +€39,353
up €39,353, from -€5,313 to €34,040
- Depreciation +€21,159
up €21,159 (+94.5%), from €22,388 to €43,547
- Financial charges +€7,580
up €7,580 (+110%), from €6,881 to €14,461
- Write-downs +€5,561
up €5,561, from -€5,561 to €0
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 | €679,564 | €1,117,857 | +€438,293 | +64.5% |
| Fixed assets | 21/28 | €634,671 | €1,004,034 | +€369,363 | +58.2% |
| Tangible fixed assets | 22/27 | €634,671 | €1,004,034 | +€369,363 | +58.2% |
| Land and buildings | 22 | €634,671 | €1,002,013 | +€367,342 | +57.9% |
| Furniture and vehicles | 24 | - | €2,022 | +€2,022 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €44,893 | €113,823 | +€68,930 | +154% |
| Amounts receivable within one year | 40/41 | €14,977 | €51,471 | +€36,494 | +244% |
| Trade receivables | 40 | €1,101 | €51,471 | +€50,370 | +4,573% |
| Other amounts receivable | 41 | €13,876 | €0 | -€13,876 | -100% |
| Cash at bank and in hand | 54/58 | €29,199 | €29,652 | +€454 | +1.6% |
| Deferred charges and accrued income | 490/1 | €717 | €32,699 | +€31,981 | +4,458% |
| Total equity and liabilities | 10/49 | €679,564 | €1,117,857 | +€438,293 | +64.5% |
| Equity | 10/15 | €220,166 | €130,287 | -€89,880 | -40.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €218,779 | €209,229 | -€9,550 | -4.4% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €214,779 | €205,229 | -€9,550 | -4.4% |
| Profit (loss) carried forward | 14 | -€38,613 | -€118,942 | -€80,329 | -208% |
| Provisions and deferred taxes | 16 | €71,593 | €68,410 | -€3,183 | -4.4% |
| Deferred taxes | 168 | €71,593 | €68,410 | -€3,183 | -4.4% |
| Amounts payable | 17/49 | €387,805 | €919,161 | +€531,356 | +137% |
| Amounts payable after more than one year | 17 | €283,217 | €243,005 | -€40,213 | -14.2% |
| Financial debts | 170/4 | €283,217 | €243,005 | -€40,213 | -14.2% |
| Amounts payable within one year | 42/48 | €104,587 | €672,982 | +€568,394 | +543% |
| Current portion of amounts payable after more than one year | 42 | €39,450 | €40,213 | +€763 | +1.9% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €22,391 | €45,514 | +€23,123 | +103% |
| Suppliers | 440/4 | €22,391 | €45,514 | +€23,123 | +103% |
| Taxes, remuneration and social security | 45 | €9,809 | €47,447 | +€37,638 | +384% |
| Taxes | 450/3 | €9,809 | €47,447 | +€37,638 | +384% |
| Other amounts payable | 47/48 | €32,937 | €239,808 | +€206,871 | +628% |
| Accrued charges and deferred income | 492/3 | - | €3,174 | +€3,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,388 | €43,547 | +€21,159 | +94.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,561 | €0 | +€5,561 | |
| Other operating charges | 640/8 | €11,905 | €53,298 | +€41,392 | +348% |
| Non-recurring operating charges | 66A | - | €15,799 | +€15,799 | |
| Gross operating margin | 9900 | -€5,313 | €34,040 | +€39,353 | |
| Operating profit (loss) | 9901 | -€34,045 | -€78,603 | -€44,558 | -131% |
| Financial income | 75/76B | €3,399 | €0 | -€3,399 | -100% |
| Recurring financial income | 75 | €3,399 | €0 | -€3,399 | -100% |
| Financial charges | 65/66B | €6,881 | €14,461 | +€7,580 | +110% |
| Recurring financial charges | 65 | €6,881 | €14,461 | +€7,580 | +110% |
| Profit (loss) for the period before taxes | 9903 | -€37,527 | -€93,063 | -€55,536 | -148% |
| Transfer from deferred taxes | 780 | €3,183 | €3,183 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€34,343 | -€89,880 | -€55,536 | -162% |
| Transfer from tax-exempt reserves | 789 | €9,550 | €9,550 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,793 | -€80,329 | -€55,536 | -224% |
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 17 October 2026 via checked.be.