MASSON: 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.
MASSON
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€89,265
up €89,265 (+307.4%), from €29,040 to €118,305
mainly Current investments (+€100,000) and Receivables within one year (+€11,605)
- Receivables within one year -€11,605
down €11,605 (-33.9%), from €34,231 to €22,625
of which Trade receivables: -€8,471
- Profit (loss) carried forward -€16,045
down €16,045 (-11.2%), from €142,848 to €126,803
- Trade debts -€13,455
down €13,455 (-84.7%), from €15,888 to €2,432
- Gross operating margin +€11,221
up €11,221 (+55.1%), from -€20,376 to -€9,155
- Financial income -€1,902
down €1,902 (-67.1%), from €2,833 to €931
- Staff costs -€527
down €527 (-57.7%), from €913 to €386
- Other operating charges -€377
down €377 (-27.8%), from €1,358 to €980
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 | €685,233 | €655,225 | -€30,008 | -4.4% |
| Fixed assets | 21/28 | €494,832 | €488,635 | -€6,196 | -1.3% |
| Tangible fixed assets | 22/27 | €11,884 | €5,688 | -€6,196 | -52.1% |
| Furniture and vehicles | 24 | €11,884 | €5,688 | -€6,196 | -52.1% |
| Financial fixed assets | 28 | €482,948 | €482,948 | = | 0.0% |
| Current assets | 29/58 | €190,401 | €166,590 | -€23,811 | -12.5% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,231 | €22,625 | -€11,605 | -33.9% |
| Trade receivables | 40 | €28,864 | €20,393 | -€8,471 | -29.3% |
| Other amounts receivable | 41 | €5,367 | €2,232 | -€3,135 | -58.4% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €29,040 | €118,305 | +€89,265 | +307.4% |
| Deferred charges and accrued income | 490/1 | €2,131 | €660 | -€1,471 | -69.0% |
| Total equity and liabilities | 10/49 | €685,233 | €655,225 | -€30,008 | -4.4% |
| Equity | 10/15 | €668,625 | €652,580 | -€16,045 | -2.4% |
| Contributions | 10/11 | €486,200 | €486,200 | = | 0.0% |
| Reserves | 13 | €39,577 | €39,577 | = | 0.0% |
| Distributable reserves | 133 | €39,577 | €39,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | €142,848 | €126,803 | -€16,045 | -11.2% |
| Amounts payable | 17/49 | €16,608 | €2,645 | -€13,963 | -84.1% |
| Amounts payable within one year | 42/48 | €16,608 | €2,645 | -€13,963 | -84.1% |
| Trade debts | 44 | €15,888 | €2,432 | -€13,455 | -84.7% |
| Suppliers | 440/4 | €15,888 | €2,432 | -€13,455 | -84.7% |
| Taxes, remuneration and social security | 45 | - | €213 | +€213 | |
| Taxes | 450/3 | - | €213 | +€213 | |
| Other amounts payable | 47/48 | €720 | - | -€720 | |
| Remuneration, social security and pensions | 62 | €913 | €386 | -€527 | -57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,244 | €6,196 | -€48 | -0.8% |
| Other operating charges | 640/8 | €1,358 | €980 | -€377 | -27.8% |
| Gross operating margin | 9900 | -€20,376 | -€9,155 | +€11,221 | +55.1% |
| Operating profit (loss) | 9901 | -€28,891 | -€16,718 | +€12,173 | +42.1% |
| Financial income | 75/76B | €2,833 | €931 | -€1,902 | -67.1% |
| Recurring financial income | 75 | €2,833 | €931 | -€1,902 | -67.1% |
| Financial charges | 65/66B | €48 | €45 | -€2 | -5.1% |
| Recurring financial charges | 65 | €48 | €45 | -€2 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,105 | -€15,832 | +€10,273 | +39.4% |
| Income taxes | 67/77 | €199 | €213 | +€13 | +6.8% |
| Profit (loss) for the period | 9904 | -€26,304 | -€16,045 | +€10,259 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,304 | -€16,045 | +€10,259 | +39.0% |
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.