MASSINISSA: 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.
MASSINISSA
Largest movements
- Receivables within one year -€16,355
down €16,355 (-45.4%), from €36,023 to €19,668
of which Other amounts receivable: -€23,889
- Cash +€15,954
up €15,954 (+333%), from €4,794 to €20,748
mainly Receivables within one year (+€16,355) and Other debts (+€11,400)
- Tangible fixed assets -€8,951
down €8,951 (-25.0%), from €35,803 to €26,852
- Debts after one year -€14,186
no longer reported in 2025 (was €14,186)
- Other debts +€11,400
new in 2025: €11,400
- Current portion of long-term debt -€8,511
no longer reported in 2025 (was €8,511)
- Trade debts +€4,280
up €4,280 (+588%), from €728 to €5,007
- Profit (loss) carried forward -€2,958
down €2,958 (-7.2%), from €40,869 to €37,910
- Turnover -€57,702
no longer reported in 2025 (was €57,702)
- Purchases and services -€57,341
no longer reported in 2025 (was €57,341)
- Gross operating margin +€20,575
up €20,575 (+883%), from €2,329 to €22,904
- Depreciation +€8,951
new in 2025: €8,951
- Taxes +€2,077
up €2,077 (+338%), from €614 to €2,691
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 | €77,408 | €67,469 | -€9,940 | -12.8% |
| Fixed assets | 21/28 | €36,003 | €27,052 | -€8,951 | -24.9% |
| Tangible fixed assets | 22/27 | €35,803 | €26,852 | -€8,951 | -25.0% |
| Furniture and vehicles | 24 | €35,803 | €26,852 | -€8,951 | -25.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €41,405 | €40,416 | -€989 | -2.4% |
| Amounts receivable within one year | 40/41 | €36,023 | €19,668 | -€16,355 | -45.4% |
| Trade receivables | 40 | - | €7,534 | +€7,534 | |
| Other amounts receivable | 41 | €36,023 | €12,134 | -€23,889 | -66.3% |
| Cash at bank and in hand | 54/58 | €4,794 | €20,748 | +€15,954 | +333% |
| Deferred charges and accrued income | 490/1 | €588 | - | -€588 | |
| Total equity and liabilities | 10/49 | €77,408 | €67,469 | -€9,940 | -12.8% |
| Equity | 10/15 | €53,903 | €50,945 | -€2,958 | -5.5% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €640 | €640 | = | 0.0% |
| Non-distributable reserves | 130/1 | €640 | €640 | = | 0.0% |
| Reserves not available under the articles | 1311 | €640 | €640 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,869 | €37,910 | -€2,958 | -7.2% |
| Amounts payable | 17/49 | €23,505 | €16,524 | -€6,981 | -29.7% |
| Amounts payable after more than one year | 17 | €14,186 | - | -€14,186 | |
| Financial debts | 170/4 | €14,186 | - | -€14,186 | |
| Amounts payable within one year | 42/48 | €9,319 | €16,524 | +€7,205 | +77.3% |
| Current portion of amounts payable after more than one year | 42 | €8,511 | - | -€8,511 | |
| Trade debts | 44 | €728 | €5,007 | +€4,280 | +588% |
| Suppliers | 440/4 | €728 | €5,007 | +€4,280 | +588% |
| Taxes, remuneration and social security | 45 | €80 | €116 | +€36 | +45.3% |
| Taxes | 450/3 | €80 | €80 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €36 | +€36 | |
| Other amounts payable | 47/48 | - | €11,400 | +€11,400 | |
| Turnover | 70 | €57,702 | - | -€57,702 | |
| Goods, raw materials, services and sundry goods | 60/61 | €57,341 | - | -€57,341 | |
| Remuneration, social security and pensions | 62 | - | €969 | +€969 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €8,951 | +€8,951 | |
| Other operating charges | 640/8 | €809 | €1,256 | +€448 | +55.4% |
| Gross operating margin | 9900 | €2,329 | €22,904 | +€20,575 | +883% |
| Operating profit (loss) | 9901 | €1,520 | €11,728 | +€10,207 | +671% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €199 | €595 | +€396 | +199% |
| Recurring financial charges | 65 | €199 | €595 | +€396 | +199% |
| Profit (loss) for the period before taxes | 9903 | €1,321 | €11,133 | +€9,812 | +743% |
| Income taxes | 67/77 | €614 | €2,691 | +€2,077 | +338% |
| Profit (loss) for the period | 9904 | €707 | €8,442 | +€7,735 | +1,094% |
| Profit (loss) for the period to be appropriated | 9905 | €707 | €8,442 | +€7,735 | +1,094% |
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 15 October 2026 via checked.be.