MASSIMO TOTTI: what changed
Two fiscal 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.
MASSIMO TOTTI
Largest movements
- Receivables within one year +€118
up €118 (+106.4%), from €111 to €230
of which Other amounts receivable: +€118
- Cash -€8
down €8 (-13.0%), from €61 to €53
mainly Net result for the year (-€1,670) and Trade debts (-€530)
- Other debts +€2,311
up €2,311 (+12.6%), from €18,409 to €20,720
- Profit (loss) carried forward -€1,670
down €1,670 (-5.3%), from -€31,566 to -€33,236
- Trade debts -€530
down €530 (-57.0%), from €930 to €400
- Purchases and services +€1,077
new in 2025: €1,077
- Gross operating margin +€707
up €707 (+39.6%), from -€1,784 to -€1,077
- Financial charges +€227
up €227 (+536.3%), from €42 to €270
- Financial income +€76
new in 2025: €76
- Other operating charges -€51
down €51 (-11.4%), from €451 to €400
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 | €173 | €283 | +€110 | +64.0% |
| Current assets | 29/58 | €173 | €283 | +€110 | +64.0% |
| Amounts receivable within one year | 40/41 | €111 | €230 | +€118 | +106.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €111 | €230 | +€118 | +106.4% |
| Cash at bank and in hand | 54/58 | €61 | €53 | -€8 | -13.0% |
| Total equity and liabilities | 10/49 | €173 | €283 | +€110 | +64.0% |
| Equity | 10/15 | -€19,166 | -€20,836 | -€1,670 | -8.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,566 | -€33,236 | -€1,670 | -5.3% |
| Amounts payable | 17/49 | €19,339 | €21,120 | +€1,781 | +9.2% |
| Amounts payable within one year | 42/48 | €19,339 | €21,120 | +€1,781 | +9.2% |
| Trade debts | 44 | €930 | €400 | -€530 | -57.0% |
| Suppliers | 440/4 | €930 | €400 | -€530 | -57.0% |
| Other amounts payable | 47/48 | €18,409 | €20,720 | +€2,311 | +12.6% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,077 | +€1,077 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €451 | €400 | -€51 | -11.4% |
| Gross operating margin | 9900 | -€1,784 | -€1,077 | +€707 | +39.6% |
| Operating profit (loss) | 9901 | -€2,235 | -€1,477 | +€758 | +33.9% |
| Financial income | 75/76B | - | €76 | +€76 | |
| Recurring financial income | 75 | - | €76 | +€76 | |
| Financial charges | 65/66B | €42 | €270 | +€227 | +536.3% |
| Recurring financial charges | 65 | €42 | €270 | +€227 | +536.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,277 | -€1,670 | +€607 | +26.6% |
| Profit (loss) for the period | 9904 | -€2,277 | -€1,670 | +€607 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,277 | -€1,670 | +€607 | +26.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.