Masselco: 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.
Masselco
Largest movements
- Receivables within one year -€155,123
down €155,123 (-92.6%), from €167,552 to €12,429
of which Trade receivables: -€152,506
- Cash +€2,667
new in 2025: €2,667
mainly Receivables within one year (+€155,123) and Net result for the year (+€9,972)
- Tangible fixed assets -€2,570
down €2,570 (-29.3%), from €8,762 to €6,191
of which Plant, machinery and equipment: -€1,927
- Trade debts -€124,317
no longer reported in 2025 (was €124,317)
- Tax, wage and social debts -€41,515
down €41,515 (-54.8%), from €75,762 to €34,247
of which Taxes: -€75,762
- Profit (loss) carried forward +€10,805
up €10,805 (+45.5%), from -€23,765 to -€12,960
- Gross operating margin +€49,121
up €49,121 (+136%), from €36,241 to €85,362
- Staff costs +€8,003
up €8,003 (+13.0%), from €61,783 to €69,786
- Depreciation +€3,833
up €3,833 (+285%), from €1,344 to €5,177
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 | €176,314 | €21,287 | -€155,027 | -87.9% |
| Fixed assets | 21/28 | €8,762 | €6,191 | -€2,570 | -29.3% |
| Tangible fixed assets | 22/27 | €8,762 | €6,191 | -€2,570 | -29.3% |
| Plant, machinery and equipment | 23 | €4,949 | €3,022 | -€1,927 | -38.9% |
| Furniture and vehicles | 24 | €1,117 | €789 | -€327 | -29.3% |
| Leasing and similar rights | 25 | €2,696 | €2,380 | -€316 | -11.7% |
| Current assets | 29/58 | €167,552 | €15,096 | -€152,456 | -91.0% |
| Amounts receivable within one year | 40/41 | €167,552 | €12,429 | -€155,123 | -92.6% |
| Trade receivables | 40 | €157,873 | €5,367 | -€152,506 | -96.6% |
| Other amounts receivable | 41 | €9,678 | €7,062 | -€2,616 | -27.0% |
| Cash at bank and in hand | 54/58 | - | €2,667 | +€2,667 | |
| Total equity and liabilities | 10/49 | €176,314 | €21,287 | -€155,027 | -87.9% |
| Equity | 10/15 | -€23,765 | -€12,960 | +€10,805 | +45.5% |
| Profit (loss) carried forward | 14 | -€23,765 | -€12,960 | +€10,805 | +45.5% |
| Amounts payable | 17/49 | €200,079 | €34,247 | -€165,832 | -82.9% |
| Amounts payable within one year | 42/48 | €200,079 | €34,247 | -€165,832 | -82.9% |
| Trade debts | 44 | €124,317 | - | -€124,317 | |
| Suppliers | 440/4 | €124,317 | - | -€124,317 | |
| Taxes, remuneration and social security | 45 | €75,762 | €34,247 | -€41,515 | -54.8% |
| Taxes | 450/3 | €75,762 | - | -€75,762 | |
| Remuneration and social security | 454/9 | - | €34,247 | +€34,247 | |
| Remuneration, social security and pensions | 62 | €61,783 | €69,786 | +€8,003 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,344 | €5,177 | +€3,833 | +285% |
| Other operating charges | 640/8 | €256 | €373 | +€117 | +45.7% |
| Gross operating margin | 9900 | €36,241 | €85,362 | +€49,121 | +136% |
| Operating profit (loss) | 9901 | -€27,142 | €10,026 | +€37,168 | |
| Financial charges | 65/66B | - | €54 | +€54 | |
| Recurring financial charges | 65 | - | €54 | +€54 | |
| Profit (loss) for the period before taxes | 9903 | -€27,142 | €9,972 | +€37,114 | |
| Profit (loss) for the period | 9904 | -€27,142 | €9,972 | +€37,114 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,142 | €9,972 | +€37,114 |
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 14 October 2026 via checked.be.