MASSIN: 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.
MASSIN
Largest movements
- Receivables within one year +€14,939
up €14,939 (+292%), from €5,108 to €20,047
of which Trade receivables: +€15,501
- Cash -€13,877
down €13,877 (-82.4%), from €16,839 to €2,962
mainly Receivables within one year (-€14,939) and Debts after one year (-€12,597)
- Tangible fixed assets -€8,767
down €8,767 (-34.1%), from €25,724 to €16,957
- Debts after one year -€12,597
down €12,597 (-53.2%), from €23,661 to €11,064
- Tax, wage and social debts -€3,421
down €3,421 (-31.9%), from €10,728 to €7,307
of which Taxes: -€3,421
- Reserves +€2,854
new in 2025: €2,854
- Profit (loss) carried forward +€1,920
up €1,920, from -€1,920 to €0
- Trade debts +€1,576
up €1,576 (+131%), from €1,206 to €2,782
- Gross operating margin -€11,890
down €11,890 (-39.0%), from €30,448 to €18,558
- Financial charges -€841
down €841 (-34.4%), from €2,444 to €1,604
- Taxes -€540
down €540 (-20.4%), from €2,652 to €2,112
- Other operating charges -€508
down €508 (-52.0%), from €978 to €470
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 | €47,672 | €39,967 | -€7,705 | -16.2% |
| Fixed assets | 21/28 | €25,724 | €16,957 | -€8,767 | -34.1% |
| Tangible fixed assets | 22/27 | €25,724 | €16,957 | -€8,767 | -34.1% |
| Furniture and vehicles | 24 | €25,724 | €16,957 | -€8,767 | -34.1% |
| Current assets | 29/58 | €21,948 | €23,010 | +€1,062 | +4.8% |
| Amounts receivable within one year | 40/41 | €5,108 | €20,047 | +€14,939 | +292% |
| Trade receivables | 40 | €1,524 | €17,025 | +€15,501 | +1,017% |
| Other amounts receivable | 41 | €3,585 | €3,023 | -€562 | -15.7% |
| Cash at bank and in hand | 54/58 | €16,839 | €2,962 | -€13,877 | -82.4% |
| Total equity and liabilities | 10/49 | €47,672 | €39,967 | -€7,705 | -16.2% |
| Equity | 10/15 | €80 | €4,854 | +€4,773 | +5,932% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €2,854 | +€2,854 | |
| Distributable reserves | 133 | - | €2,854 | +€2,854 | |
| Profit (loss) carried forward | 14 | -€1,920 | €0 | +€1,920 | |
| Amounts payable | 17/49 | €47,591 | €35,113 | -€12,478 | -26.2% |
| Amounts payable after more than one year | 17 | €23,661 | €11,064 | -€12,597 | -53.2% |
| Financial debts | 170/4 | €23,661 | €11,064 | -€12,597 | -53.2% |
| Amounts payable within one year | 42/48 | €23,930 | €24,049 | +€119 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €11,996 | €12,597 | +€601 | +5.0% |
| Trade debts | 44 | €1,206 | €2,782 | +€1,576 | +131% |
| Suppliers | 440/4 | €1,206 | €2,782 | +€1,576 | +131% |
| Taxes, remuneration and social security | 45 | €10,728 | €7,307 | -€3,421 | -31.9% |
| Taxes | 450/3 | €10,728 | €7,307 | -€3,421 | -31.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €1,364 | +€1,364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,767 | €8,767 | = | 0.0% |
| Other operating charges | 640/8 | €978 | €470 | -€508 | -52.0% |
| Gross operating margin | 9900 | €30,448 | €18,558 | -€11,890 | -39.0% |
| Operating profit (loss) | 9901 | €20,703 | €9,321 | -€11,381 | -55.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,444 | €1,604 | -€841 | -34.4% |
| Recurring financial charges | 65 | €2,444 | €1,604 | -€841 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €18,258 | €7,718 | -€10,541 | -57.7% |
| Income taxes | 67/77 | €2,652 | €2,112 | -€540 | -20.4% |
| Profit (loss) for the period | 9904 | €15,607 | €5,606 | -€10,000 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,607 | €5,606 | -€10,000 | -64.1% |
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 18 October 2026 via checked.be.