MASSIX: 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.
MASSIX
Largest movements
- Tangible fixed assets +€39,907
up €39,907 (+21.4%), from €186,754 to €226,661
of which Furniture and vehicles: +€43,563
- Cash +€2,797
up €2,797 (+10.1%), from €27,635 to €30,432
mainly Net result for the year (+€16,621) and Tax, wage and social debts (+€11,078)
- Reserves +€16,621
up €16,621 (+13.6%), from €122,387 to €139,008
- Tax, wage and social debts +€11,078
up €11,078 (+217.7%), from €5,088 to €16,167
of which Taxes: +€8,470
- Debts after one year +€10,922
up €10,922 (+16.4%), from €66,444 to €77,366
- Current portion of long-term debt +€6,358
up €6,358 (+41.5%), from €15,333 to €21,691
- Gross operating margin +€7,023
up €7,023 (+17.7%), from €39,773 to €46,796
- Taxes +€5,666
up €5,666 (+192.1%), from €2,949 to €8,615
- Depreciation -€4,337
down €4,337 (-32.4%), from €13,378 to €9,040
- Financial charges +€1,712
up €1,712 (+119.1%), from €1,437 to €3,149
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 | €215,230 | €259,262 | +€44,032 | +20.5% |
| Fixed assets | 21/28 | €186,903 | €226,810 | +€39,907 | +21.4% |
| Tangible fixed assets | 22/27 | €186,754 | €226,661 | +€39,907 | +21.4% |
| Land and buildings | 22 | €182,223 | €176,569 | -€5,654 | -3.1% |
| Plant, machinery and equipment | 23 | - | €1,998 | +€1,998 | |
| Furniture and vehicles | 24 | €4,531 | €48,094 | +€43,563 | +961.4% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €28,327 | €32,452 | +€4,125 | +14.6% |
| Amounts receivable within one year | 40/41 | €0 | €830 | +€830 | |
| Trade receivables | 40 | €0 | €830 | +€830 | |
| Cash at bank and in hand | 54/58 | €27,635 | €30,432 | +€2,797 | +10.1% |
| Deferred charges and accrued income | 490/1 | €691 | €1,190 | +€498 | +72.0% |
| Total equity and liabilities | 10/49 | €215,230 | €259,262 | +€44,032 | +20.5% |
| Equity | 10/15 | €126,387 | €143,008 | +€16,621 | +13.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €122,387 | €139,008 | +€16,621 | +13.6% |
| Distributable reserves | 133 | €122,387 | €139,008 | +€16,621 | +13.6% |
| Amounts payable | 17/49 | €88,843 | €116,254 | +€27,411 | +30.9% |
| Amounts payable after more than one year | 17 | €66,444 | €77,366 | +€10,922 | +16.4% |
| Financial debts | 170/4 | €66,444 | €77,366 | +€10,922 | +16.4% |
| Amounts payable within one year | 42/48 | €22,225 | €38,888 | +€16,663 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €15,333 | €21,691 | +€6,358 | +41.5% |
| Trade debts | 44 | €1,284 | €744 | -€540 | -42.1% |
| Suppliers | 440/4 | €1,284 | €744 | -€540 | -42.1% |
| Taxes, remuneration and social security | 45 | €5,088 | €16,167 | +€11,078 | +217.7% |
| Taxes | 450/3 | €5,088 | €13,559 | +€8,470 | +166.5% |
| Remuneration and social security | 454/9 | €0 | €2,608 | +€2,608 | |
| Other amounts payable | 47/48 | €519 | €286 | -€233 | -44.9% |
| Accrued charges and deferred income | 492/3 | €174 | €0 | -€174 | -100.0% |
| Non-recurring operating income | 76A | - | €9,034 | +€9,034 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,378 | €9,040 | -€4,337 | -32.4% |
| Other operating charges | 640/8 | €9,153 | €9,372 | +€218 | +2.4% |
| Gross operating margin | 9900 | €39,773 | €46,796 | +€7,023 | +17.7% |
| Operating profit (loss) | 9901 | €17,242 | €28,384 | +€11,142 | +64.6% |
| Financial income | 75/76B | €1 | €0 | -€0 | -90.4% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -90.4% |
| Financial charges | 65/66B | €1,437 | €3,149 | +€1,712 | +119.1% |
| Recurring financial charges | 65 | €1,437 | €3,149 | +€1,712 | +119.1% |
| Profit (loss) for the period before taxes | 9903 | €15,806 | €25,235 | +€9,430 | +59.7% |
| Income taxes | 67/77 | €2,949 | €8,615 | +€5,666 | +192.1% |
| Profit (loss) for the period | 9904 | €12,857 | €16,621 | +€3,764 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,857 | €16,621 | +€3,764 | +29.3% |
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 6 October 2026 via checked.be.