MASSANT CREATION: 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.
MASSANT CREATION
Largest movements
- Cash +€104,840
up €104,840 (+802%), from €13,069 to €117,909
mainly Depreciation (+€70,213) and Net result for the year (+€56,191)
- Tangible fixed assets -€70,213
down €70,213 (-17.2%), from €408,254 to €338,041
of which Leasing and similar rights: -€60,030
- Receivables within one year -€55,119
down €55,119 (-36.8%), from €149,885 to €94,766
of which Trade receivables: -€57,792
- Stocks and contracts -€14,124
down €14,124 (-10.8%), from €131,176 to €117,052
- Debts after one year -€76,538
down €76,538 (-18.2%), from €419,521 to €342,984
- Profit (loss) carried forward +€56,191
up €56,191 (+22.8%), from -€246,754 to -€190,564
- Trade debts -€41,473
down €41,473 (-32.8%), from €126,275 to €84,802
- Advances received +€24,941
new in 2025: €24,941
- Gross operating margin +€80,366
up €80,366 (+68.1%), from €118,047 to €198,413
- Staff costs -€8,394
down €8,394 (-18.8%), from €44,565 to €36,171
- Depreciation +€5,863
up €5,863 (+9.1%), from €64,351 to €70,213
- Other operating charges -€5,540
down €5,540 (-66.6%), from €8,323 to €2,783
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 | €765,848 | €734,043 | -€31,805 | -4.2% |
| Fixed assets | 21/28 | €408,254 | €338,041 | -€70,213 | -17.2% |
| Tangible fixed assets | 22/27 | €408,254 | €338,041 | -€70,213 | -17.2% |
| Plant, machinery and equipment | 23 | €880 | - | -€880 | |
| Furniture and vehicles | 24 | €39,661 | €30,843 | -€8,817 | -22.2% |
| Leasing and similar rights | 25 | €364,733 | €304,703 | -€60,030 | -16.5% |
| Other tangible fixed assets | 26 | €2,981 | €2,495 | -€486 | -16.3% |
| Current assets | 29/58 | €357,594 | €396,003 | +€38,408 | +10.7% |
| Stocks and contracts in progress | 3 | €131,176 | €117,052 | -€14,124 | -10.8% |
| Stocks | 30/36 | €131,176 | €117,052 | -€14,124 | -10.8% |
| Amounts receivable within one year | 40/41 | €149,885 | €94,766 | -€55,119 | -36.8% |
| Trade receivables | 40 | €142,925 | €85,133 | -€57,792 | -40.4% |
| Other amounts receivable | 41 | €6,961 | €9,633 | +€2,672 | +38.4% |
| Current investments | 50/53 | €55,000 | €55,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,069 | €117,909 | +€104,840 | +802% |
| Deferred charges and accrued income | 490/1 | €8,464 | €11,276 | +€2,812 | +33.2% |
| Total equity and liabilities | 10/49 | €765,848 | €734,043 | -€31,805 | -4.2% |
| Equity | 10/15 | €138,246 | €194,436 | +€56,191 | +40.6% |
| Contributions | 10/11 | €385,000 | €385,000 | = | 0.0% |
| Contributions outside capital | 11 | €385,000 | €385,000 | = | 0.0% |
| Other | 1109/19 | €385,000 | €385,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€246,754 | -€190,564 | +€56,191 | +22.8% |
| Amounts payable | 17/49 | €627,603 | €539,607 | -€87,996 | -14.0% |
| Amounts payable after more than one year | 17 | €419,521 | €342,984 | -€76,538 | -18.2% |
| Financial debts | 170/4 | €419,521 | €342,984 | -€76,538 | -18.2% |
| Amounts payable within one year | 42/48 | €203,398 | €190,990 | -€12,408 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €72,264 | €76,538 | +€4,274 | +5.9% |
| Trade debts | 44 | €126,275 | €84,802 | -€41,473 | -32.8% |
| Suppliers | 440/4 | €126,275 | €84,802 | -€41,473 | -32.8% |
| Advances received on contracts in progress | 46 | - | €24,941 | +€24,941 | |
| Taxes, remuneration and social security | 45 | €4,859 | €4,709 | -€150 | -3.1% |
| Taxes | 450/3 | €36 | €227 | +€190 | +522% |
| Remuneration and social security | 454/9 | €4,823 | €4,483 | -€340 | -7.0% |
| Accrued charges and deferred income | 492/3 | €4,683 | €5,634 | +€951 | +20.3% |
| Remuneration, social security and pensions | 62 | €44,565 | €36,171 | -€8,394 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,351 | €70,213 | +€5,863 | +9.1% |
| Other operating charges | 640/8 | €8,323 | €2,783 | -€5,540 | -66.6% |
| Non-recurring operating charges | 66A | - | €417 | +€417 | |
| Gross operating margin | 9900 | €118,047 | €198,413 | +€80,366 | +68.1% |
| Operating profit (loss) | 9901 | €808 | €88,829 | +€88,021 | +10,897% |
| Financial income | 75/76B | €1,773 | €1,410 | -€363 | -20.5% |
| Recurring financial income | 75 | €1,773 | €1,410 | -€363 | -20.5% |
| Financial charges | 65/66B | €32,439 | €33,716 | +€1,277 | +3.9% |
| Recurring financial charges | 65 | €32,439 | €33,716 | +€1,277 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,859 | €56,522 | +€86,381 | |
| Income taxes | 67/77 | €190 | €331 | +€141 | +74.3% |
| Profit (loss) for the period | 9904 | -€30,049 | €56,191 | +€86,239 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,049 | €56,191 | +€86,239 |
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 23 October 2026 via checked.be.