MASSIN ARCHITECTURE: 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 ARCHITECTURE
Largest movements
- Receivables within one year +€41,349
up €41,349 (+251%), from €16,461 to €57,810
of which Other amounts receivable: +€37,469
- Tangible fixed assets +€38,919
up €38,919 (+97.1%), from €40,062 to €78,981
of which Leasing and similar rights: +€49,812
- Cash -€24,225
down €24,225 (-67.4%), from €35,921 to €11,696
mainly Investment in fixed assets (net) (-€45,903) and Receivables within one year (-€41,349)
- Debts after one year +€33,151
up €33,151 (+305%), from €10,867 to €44,018
- Reserves +€19,000
up €19,000 (+36.5%), from €52,000 to €71,000
- Current portion of long-term debt +€9,491
up €9,491 (+134%), from €7,068 to €16,559
- Tax, wage and social debts -€7,167
down €7,167 (-44.1%), from €16,261 to €9,094
- Trade debts +€1,541
up €1,541 (+310%), from €497 to €2,038
- Gross operating margin +€10,508
up €10,508 (+25.7%), from €40,875 to €51,383
- Depreciation -€3,607
down €3,607 (-33.2%), from €10,868 to €7,261
- Taxes +€2,321
up €2,321 (+31.1%), from €7,458 to €9,779
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 | €94,547 | €150,314 | +€55,767 | +59.0% |
| Formation expenses | 20 | €687 | €587 | -€101 | -14.6% |
| Fixed assets | 21/28 | €41,478 | €80,221 | +€38,743 | +93.4% |
| Intangible fixed assets | 21 | €1,415 | €1,240 | -€175 | -12.4% |
| Tangible fixed assets | 22/27 | €40,062 | €78,981 | +€38,919 | +97.1% |
| Plant, machinery and equipment | 23 | €31,136 | €27,199 | -€3,938 | -12.6% |
| Furniture and vehicles | 24 | €8,926 | €1,970 | -€6,956 | -77.9% |
| Leasing and similar rights | 25 | - | €49,812 | +€49,812 | |
| Current assets | 29/58 | €52,382 | €69,507 | +€17,125 | +32.7% |
| Amounts receivable within one year | 40/41 | €16,461 | €57,810 | +€41,349 | +251% |
| Trade receivables | 40 | €16,461 | €20,341 | +€3,880 | +23.6% |
| Other amounts receivable | 41 | - | €37,469 | +€37,469 | |
| Cash at bank and in hand | 54/58 | €35,921 | €11,696 | -€24,225 | -67.4% |
| Total equity and liabilities | 10/49 | €94,547 | €150,314 | +€55,767 | +59.0% |
| Equity | 10/15 | €59,801 | €78,605 | +€18,804 | +31.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Capital | 10 | €7,500 | €7,500 | = | 0.0% |
| Issued capital | 100 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €52,000 | €71,000 | +€19,000 | +36.5% |
| Distributable reserves | 133 | €52,000 | €71,000 | +€19,000 | +36.5% |
| Profit (loss) carried forward | 14 | €301 | €105 | -€196 | -65.0% |
| Amounts payable | 17/49 | €34,746 | €71,709 | +€36,963 | +106% |
| Amounts payable after more than one year | 17 | €10,867 | €44,018 | +€33,151 | +305% |
| Financial debts | 170/4 | €10,867 | €44,018 | +€33,151 | +305% |
| Amounts payable within one year | 42/48 | €23,880 | €27,691 | +€3,811 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €7,068 | €16,559 | +€9,491 | +134% |
| Trade debts | 44 | €497 | €2,038 | +€1,541 | +310% |
| Suppliers | 440/4 | €497 | €2,038 | +€1,541 | +310% |
| Taxes, remuneration and social security | 45 | €16,261 | €9,094 | -€7,167 | -44.1% |
| Taxes | 450/3 | €16,261 | €9,094 | -€7,167 | -44.1% |
| Other amounts payable | 47/48 | €54 | - | -€54 | |
| Goods, raw materials, services and sundry goods | 60/61 | €51,133 | €50,732 | -€401 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,868 | €7,261 | -€3,607 | -33.2% |
| Other operating charges | 640/8 | €1,012 | €1,275 | +€263 | +26.0% |
| Gross operating margin | 9900 | €40,875 | €51,383 | +€10,508 | +25.7% |
| Operating profit (loss) | 9901 | €28,996 | €42,847 | +€13,851 | +47.8% |
| Financial income | 75/76B | €760 | €811 | +€51 | +6.7% |
| Recurring financial income | 75 | €760 | €811 | +€51 | +6.7% |
| Financial charges | 65/66B | €589 | €775 | +€186 | +31.5% |
| Recurring financial charges | 65 | €589 | €775 | +€186 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €29,167 | €42,883 | +€13,716 | +47.0% |
| Income taxes | 67/77 | €7,458 | €9,779 | +€2,321 | +31.1% |
| Profit (loss) for the period | 9904 | €21,709 | €33,104 | +€11,395 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,709 | €33,104 | +€11,395 | +52.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.