MASSIMMO BRUSSELS: 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.
MASSIMMO BRUSSELS
Largest movements
- Tangible fixed assets -€249,652
down €249,652 (-3.3%), from €7.6m to €7.3m
of which Land and buildings: -€223,572
- Cash +€117,339
up €117,339 (+1034.3%), from €11,345 to €128,684
mainly Depreciation (+€312,635) and Net result for the year (+€66,584)
- Other debts -€248,667
down €248,667 (-11.6%), from €2.1m to €1.9m
- Gross operating margin +€68,452
up €68,452 (+19.2%), from €357,385 to €425,837
- Depreciation +€23,563
up €23,563 (+8.2%), from €289,072 to €312,635
- Taxes +€15,439
up €15,439 (+168.6%), from €9,156 to €24,595
- Other operating charges -€13,495
down €13,495 (-38.1%), from €35,428 to €21,934
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.
Cash bridge derived
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 | €7,600,978 | €7,448,268 | -€152,710 | -2.0% |
| Fixed assets | 21/28 | €7,560,324 | €7,310,672 | -€249,652 | -3.3% |
| Tangible fixed assets | 22/27 | €7,560,324 | €7,310,672 | -€249,652 | -3.3% |
| Land and buildings | 22 | €6,958,599 | €6,735,027 | -€223,572 | -3.2% |
| Plant, machinery and equipment | 23 | €598,740 | €574,391 | -€24,349 | -4.1% |
| Furniture and vehicles | 24 | €2,985 | €1,254 | -€1,731 | -58.0% |
| Current assets | 29/58 | €40,654 | €137,597 | +€96,943 | +238.5% |
| Amounts receivable within one year | 40/41 | €29,190 | €6,953 | -€22,238 | -76.2% |
| Trade receivables | 40 | - | €5,965 | +€5,965 | |
| Other amounts receivable | 41 | €29,190 | €988 | -€28,203 | -96.6% |
| Cash at bank and in hand | 54/58 | €11,345 | €128,684 | +€117,339 | +1034.3% |
| Deferred charges and accrued income | 490/1 | €119 | €1,960 | +€1,841 | +1549.8% |
| Total equity and liabilities | 10/49 | €7,600,978 | €7,448,268 | -€152,710 | -2.0% |
| Equity | 10/15 | €5,429,153 | €5,495,737 | +€66,584 | +1.2% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €56,312 | €56,312 | = | 0.0% |
| Distributable reserves | 133 | €56,312 | €56,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | €372,842 | €439,426 | +€66,584 | +17.9% |
| Provisions and deferred taxes | 16 | €18,000 | €18,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €18,000 | €18,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,153,825 | €1,934,531 | -€219,293 | -10.2% |
| Amounts payable within one year | 42/48 | €2,153,825 | €1,934,531 | -€219,293 | -10.2% |
| Trade debts | 44 | €756 | €5,534 | +€4,778 | +631.9% |
| Suppliers | 440/4 | €756 | €5,534 | +€4,778 | +631.9% |
| Taxes, remuneration and social security | 45 | €9,156 | €33,752 | +€24,595 | +268.6% |
| Taxes | 450/3 | €9,156 | €33,752 | +€24,595 | +268.6% |
| Other amounts payable | 47/48 | €2,143,912 | €1,895,246 | -€248,667 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289,072 | €312,635 | +€23,563 | +8.2% |
| Other operating charges | 640/8 | €35,428 | €21,934 | -€13,495 | -38.1% |
| Gross operating margin | 9900 | €357,385 | €425,837 | +€68,452 | +19.2% |
| Operating profit (loss) | 9901 | €32,885 | €91,269 | +€58,384 | +177.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €89 | €90 | +€2 | +1.7% |
| Recurring financial charges | 65 | €89 | €90 | +€2 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €32,796 | €91,179 | +€58,383 | +178.0% |
| Income taxes | 67/77 | €9,156 | €24,595 | +€15,439 | +168.6% |
| Profit (loss) for the period | 9904 | €23,640 | €66,584 | +€42,944 | +181.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,640 | €66,584 | +€42,944 | +181.7% |
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 9 October 2026 via checked.be.