MASSANE: what changed
MASSANE
Largest movements
- Current investments +€30,008
up €30,008 (+19.8%), from €151,819 to €181,828
- Tangible fixed assets -€10,641
down €10,641 (-49.0%), from €21,721 to €11,080
- Receivables within one year -€7,837
down €7,837 (-40.1%), from €19,544 to €11,707
of which Trade receivables: -€8,381
- Cash -€5,962
down €5,962 (-12.9%), from €46,321 to €40,358
mainly Current investments (-€30,008) and Other debts (-€240)
- Trade debts +€2,605
up €2,605 (+673%), from €387 to €2,993
- Gross operating margin -€6,438
down €6,438 (-34.2%), from €18,799 to €12,361
- Financial income -€2,296
down €2,296 (-47.5%), from €4,830 to €2,534
- Taxes -€1,707
down €1,707 (-45.4%), from €3,757 to €2,050
- Depreciation +€436
up €436 (+4.3%), from €10,205 to €10,641
- Other operating charges -€351
down €351 (-54.3%), from €646 to €295
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,754 | €246,060 | +€4,306 | +1.8% |
| Fixed assets | 21/28 | €21,721 | €11,080 | -€10,641 | -49.0% |
| Tangible fixed assets | 22/27 | €21,721 | €11,080 | -€10,641 | -49.0% |
| Furniture and vehicles | 24 | €21,721 | €11,080 | -€10,641 | -49.0% |
| Current assets | 29/58 | €220,034 | €234,980 | +€14,946 | +6.8% |
| Amounts receivable within one year | 40/41 | €19,544 | €11,707 | -€7,837 | -40.1% |
| Trade receivables | 40 | €18,486 | €10,105 | -€8,381 | -45.3% |
| Other amounts receivable | 41 | €1,058 | €1,602 | +€544 | +51.4% |
| Current investments | 50/53 | €151,819 | €181,828 | +€30,008 | +19.8% |
| Cash at bank and in hand | 54/58 | €46,321 | €40,358 | -€5,962 | -12.9% |
| Deferred charges and accrued income | 490/1 | €2,349 | €1,087 | -€1,263 | -53.7% |
| Total equity and liabilities | 10/49 | €241,754 | €246,060 | +€4,306 | +1.8% |
| Equity | 10/15 | €239,526 | €241,392 | +€1,867 | +0.8% |
| Contributions | 10/11 | €8,667 | €8,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,859 | €232,726 | +€1,867 | +0.8% |
| Amounts payable | 17/49 | €2,229 | €4,668 | +€2,439 | +109% |
| Amounts payable within one year | 42/48 | €2,229 | €4,668 | +€2,439 | +109% |
| Trade debts | 44 | €387 | €2,993 | +€2,605 | +673% |
| Suppliers | 440/4 | €387 | €2,993 | +€2,605 | +673% |
| Taxes, remuneration and social security | 45 | €912 | €985 | +€74 | +8.1% |
| Taxes | 450/3 | €912 | €985 | +€74 | +8.1% |
| Other amounts payable | 47/48 | €930 | €689 | -€240 | -25.8% |
| Non-recurring operating income | 76A | €4,827 | - | -€4,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,205 | €10,641 | +€436 | +4.3% |
| Other operating charges | 640/8 | €646 | €295 | -€351 | -54.3% |
| Gross operating margin | 9900 | €18,799 | €12,361 | -€6,438 | -34.2% |
| Operating profit (loss) | 9901 | €7,949 | €1,425 | -€6,524 | -82.1% |
| Financial income | 75/76B | €4,830 | €2,534 | -€2,296 | -47.5% |
| Recurring financial income | 75 | €4,830 | €2,534 | -€2,296 | -47.5% |
| Financial charges | 65/66B | €40 | €42 | +€2 | +6.1% |
| Recurring financial charges | 65 | €40 | €42 | +€2 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €12,739 | €3,917 | -€8,822 | -69.3% |
| Income taxes | 67/77 | €3,757 | €2,050 | -€1,707 | -45.4% |
| Profit (loss) for the period | 9904 | €8,982 | €1,867 | -€7,115 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,982 | €1,867 | -€7,115 | -79.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.