MASSIN Frères: what changed
MASSIN Frères
Largest movements
- Cash +€36,678
up €36,678 (+406%), from €9,042 to €45,720
mainly Other debts (+€46,550) and Stocks and contracts (+€14,630)
- Stocks and contracts -€14,630
down €14,630 (-48.6%), from €30,074 to €15,444
- Tangible fixed assets -€10,619
down €10,619 (-35.3%), from €30,109 to €19,490
of which Furniture and vehicles: -€8,299
- Other debts +€46,550
up €46,550 (+1,343%), from €3,466 to €50,016
- Reserves -€42,000
down €42,000 (-44.3%), from €94,860 to €52,860
- Tax, wage and social debts +€13,739
up €13,739 (+119%), from €11,509 to €25,248
of which Remuneration and social security: +€9,081
- Debts after one year -€6,792
down €6,792 (-92.3%), from €7,361 to €569
- Trade debts -€2,811
down €2,811 (-11.4%), from €24,720 to €21,909
- Staff costs +€32,392
up €32,392 (+83.0%), from €39,024 to €71,416
- Depreciation -€8,339
down €8,339 (-39.4%), from €21,171 to €12,832
- Taxes -€2,430
down €2,430 (-33.9%), from €7,168 to €4,738
- Other operating charges -€1,548
down €1,548 (-63.4%), from €2,442 to €894
- Gross operating margin -€1,390
down €1,390 (-1.4%), from €96,678 to €95,289
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,399 | €214,949 | +€10,550 | +5.2% |
| Fixed assets | 21/28 | €30,198 | €19,578 | -€10,619 | -35.2% |
| Tangible fixed assets | 22/27 | €30,109 | €19,490 | -€10,619 | -35.3% |
| Plant, machinery and equipment | 23 | €8,003 | €5,683 | -€2,320 | -29.0% |
| Furniture and vehicles | 24 | €22,106 | €13,807 | -€8,299 | -37.5% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €174,202 | €195,371 | +€21,169 | +12.2% |
| Stocks and contracts in progress | 3 | €30,074 | €15,444 | -€14,630 | -48.6% |
| Stocks | 30/36 | €30,074 | €15,444 | -€14,630 | -48.6% |
| Amounts receivable within one year | 40/41 | €130,411 | €130,457 | +€46 | 0.0% |
| Trade receivables | 40 | €90,549 | €86,537 | -€4,012 | -4.4% |
| Other amounts receivable | 41 | €39,862 | €43,920 | +€4,058 | +10.2% |
| Cash at bank and in hand | 54/58 | €9,042 | €45,720 | +€36,678 | +406% |
| Deferred charges and accrued income | 490/1 | €4,675 | €3,750 | -€925 | -19.8% |
| Total equity and liabilities | 10/49 | €204,399 | €214,949 | +€10,550 | +5.2% |
| Equity | 10/15 | €147,908 | €106,060 | -€41,849 | -28.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €94,860 | €52,860 | -€42,000 | -44.3% |
| Distributable reserves | 133 | €94,860 | €52,860 | -€42,000 | -44.3% |
| Profit (loss) carried forward | 14 | €46,848 | €47,000 | +€151 | +0.3% |
| Amounts payable | 17/49 | €56,491 | €108,890 | +€52,398 | +92.8% |
| Amounts payable after more than one year | 17 | €7,361 | €569 | -€6,792 | -92.3% |
| Financial debts | 170/4 | €7,361 | €569 | -€6,792 | -92.3% |
| Amounts payable within one year | 42/48 | €46,419 | €103,965 | +€57,546 | +124% |
| Current portion of amounts payable after more than one year | 42 | €6,724 | €6,792 | +€68 | +1.0% |
| Trade debts | 44 | €24,720 | €21,909 | -€2,811 | -11.4% |
| Suppliers | 440/4 | €24,720 | €21,909 | -€2,811 | -11.4% |
| Taxes, remuneration and social security | 45 | €11,509 | €25,248 | +€13,739 | +119% |
| Taxes | 450/3 | €8,062 | €12,720 | +€4,658 | +57.8% |
| Remuneration and social security | 454/9 | €3,447 | €12,528 | +€9,081 | +263% |
| Other amounts payable | 47/48 | €3,466 | €50,016 | +€46,550 | +1,343% |
| Accrued charges and deferred income | 492/3 | €2,712 | €4,356 | +€1,644 | +60.6% |
| Remuneration, social security and pensions | 62 | €39,024 | €71,416 | +€32,392 | +83.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,171 | €12,832 | -€8,339 | -39.4% |
| Other operating charges | 640/8 | €2,442 | €894 | -€1,548 | -63.4% |
| Gross operating margin | 9900 | €96,678 | €95,289 | -€1,390 | -1.4% |
| Operating profit (loss) | 9901 | €34,041 | €10,146 | -€23,895 | -70.2% |
| Financial income | 75/76B | €1,356 | €2,144 | +€788 | +58.1% |
| Recurring financial income | 75 | €1,356 | €2,144 | +€788 | +58.1% |
| Financial charges | 65/66B | €502 | €400 | -€101 | -20.2% |
| Recurring financial charges | 65 | €502 | €400 | -€101 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €34,895 | €11,890 | -€23,006 | -65.9% |
| Income taxes | 67/77 | €7,168 | €4,738 | -€2,430 | -33.9% |
| Profit (loss) for the period | 9904 | €27,727 | €7,151 | -€20,576 | -74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,727 | €7,151 | -€20,576 | -74.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.