MASSA-TEX: 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.
MASSA-TEX
Largest movements
- Receivables within one year +€34,098
up €34,098 (+34.4%), from €99,017 to €133,114
of which Trade receivables: +€19,755
- Cash -€30,433
down €30,433 (-49.3%), from €61,699 to €31,266
mainly Receivables within one year (-€34,098) and Contributions, distributions and other (-€17,500)
- Profit (loss) carried forward +€26,853
up €26,853 (+71.7%), from -€37,469 to -€10,616
- Reserves -€17,500
down €17,500 (-42.8%), from €40,907 to €23,407
- Other debts +€17,500
new in 2025: €17,500
- Tax, wage and social debts -€16,231
down €16,231 (-15.7%), from €103,092 to €86,861
of which Remuneration and social security: -€32,647
- Trade debts -€6,709
down €6,709 (-13.0%), from €51,712 to €45,003
- Gross operating margin +€86,357
up €86,357 (+21.3%), from €406,221 to €492,577
- Staff costs +€54,110
up €54,110 (+13.5%), from €401,404 to €455,514
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 | €165,087 | €168,998 | +€3,911 | +2.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,627 | €1,537 | -€90 | -5.5% |
| Tangible fixed assets | 22/27 | €1,100 | €1,100 | = | 0.0% |
| Furniture and vehicles | 24 | €1,100 | €1,100 | = | 0.0% |
| Financial fixed assets | 28 | €528 | €438 | -€90 | -17.1% |
| Current assets | 29/58 | €163,460 | €167,460 | +€4,001 | +2.4% |
| Amounts receivable within one year | 40/41 | €99,017 | €133,114 | +€34,098 | +34.4% |
| Trade receivables | 40 | €40,290 | €60,044 | +€19,755 | +49.0% |
| Other amounts receivable | 41 | €58,727 | €73,070 | +€14,343 | +24.4% |
| Cash at bank and in hand | 54/58 | €61,699 | €31,266 | -€30,433 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,744 | €3,080 | +€336 | +12.2% |
| Total equity and liabilities | 10/49 | €165,087 | €168,998 | +€3,911 | +2.4% |
| Equity | 10/15 | €9,636 | €18,989 | +€9,353 | +97.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €40,907 | €23,407 | -€17,500 | -42.8% |
| Distributable reserves | 133 | €40,907 | €23,407 | -€17,500 | -42.8% |
| Profit (loss) carried forward | 14 | -€37,469 | -€10,616 | +€26,853 | +71.7% |
| Amounts payable | 17/49 | €155,452 | €150,009 | -€5,443 | -3.5% |
| Amounts payable within one year | 42/48 | €155,452 | €150,009 | -€5,443 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €648 | €645 | -€3 | -0.4% |
| Trade debts | 44 | €51,712 | €45,003 | -€6,709 | -13.0% |
| Suppliers | 440/4 | €51,712 | €45,003 | -€6,709 | -13.0% |
| Taxes, remuneration and social security | 45 | €103,092 | €86,861 | -€16,231 | -15.7% |
| Taxes | 450/3 | €25,479 | €41,895 | +€16,416 | +64.4% |
| Remuneration and social security | 454/9 | €77,612 | €44,965 | -€32,647 | -42.1% |
| Other amounts payable | 47/48 | - | €17,500 | +€17,500 | |
| Remuneration, social security and pensions | 62 | €401,404 | €455,514 | +€54,110 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €769 | - | -€769 | |
| Other operating charges | 640/8 | €1,664 | €1,627 | -€37 | -2.2% |
| Gross operating margin | 9900 | €406,221 | €492,577 | +€86,357 | +21.3% |
| Operating profit (loss) | 9901 | €2,384 | €35,437 | +€33,052 | +1,386% |
| Financial income | 75/76B | €53 | €62 | +€9 | +16.2% |
| Recurring financial income | 75 | €53 | €62 | +€9 | +16.2% |
| Financial charges | 65/66B | €3,955 | €5,862 | +€1,907 | +48.2% |
| Recurring financial charges | 65 | €3,955 | €5,862 | +€1,907 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,518 | €29,636 | +€31,154 | |
| Income taxes | 67/77 | €583 | €2,782 | +€2,199 | +377% |
| Profit (loss) for the period | 9904 | -€2,101 | €26,853 | +€28,955 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,101 | €26,853 | +€28,955 |
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 28 October 2026 via checked.be.