MASSOUD EXPRESS: 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.
MASSOUD EXPRESS
Largest movements
- Tangible fixed assets -€8,575
down €8,575 (-34.8%), from €24,635 to €16,060
- Cash -€5,508
down €5,508 (-54.4%), from €10,118 to €4,610
mainly Other debts (-€10,000) and Net result for the year (-€4,670)
- Deferred charges and accrued income -€3,061
down €3,061 (-92.0%), from €3,327 to €267
- Receivables within one year +€2,399
up €2,399 (+12.2%), from €19,663 to €22,061
of which Other amounts receivable: +€2,399
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Profit (loss) carried forward -€4,670
down €4,670 (-12.6%), from €36,935 to €32,265
- Trade debts -€1,146
down €1,146 (-14.3%), from €8,033 to €6,887
- Tax, wage and social debts +€1,072
new in 2025: €1,072
- Turnover -€156,803
no longer reported in 2025 (was €156,803)
- Purchases and services -€123,551
no longer reported in 2025 (was €123,551)
- Gross operating margin -€18,421
down €18,421 (-55.4%), from €33,252 to €14,831
- Other operating charges -€9,710
down €9,710 (-67.4%), from €14,409 to €4,699
- Depreciation +€5,731
up €5,731 (+202%), from €2,844 to €8,575
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 | €57,969 | €43,224 | -€14,745 | -25.4% |
| Fixed assets | 21/28 | €24,860 | €16,285 | -€8,575 | -34.5% |
| Tangible fixed assets | 22/27 | €24,635 | €16,060 | -€8,575 | -34.8% |
| Furniture and vehicles | 24 | €24,635 | €16,060 | -€8,575 | -34.8% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €33,108 | €26,938 | -€6,170 | -18.6% |
| Amounts receivable within one year | 40/41 | €19,663 | €22,061 | +€2,399 | +12.2% |
| Trade receivables | 40 | €418 | €418 | = | 0.0% |
| Other amounts receivable | 41 | €19,245 | €21,643 | +€2,399 | +12.5% |
| Cash at bank and in hand | 54/58 | €10,118 | €4,610 | -€5,508 | -54.4% |
| Deferred charges and accrued income | 490/1 | €3,327 | €267 | -€3,061 | -92.0% |
| Total equity and liabilities | 10/49 | €57,969 | €43,224 | -€14,745 | -25.4% |
| Equity | 10/15 | €39,935 | €35,265 | -€4,670 | -11.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,935 | €32,265 | -€4,670 | -12.6% |
| Amounts payable | 17/49 | €18,033 | €7,959 | -€10,075 | -55.9% |
| Amounts payable within one year | 42/48 | €18,033 | €7,959 | -€10,075 | -55.9% |
| Trade debts | 44 | €8,033 | €6,887 | -€1,146 | -14.3% |
| Suppliers | 440/4 | €8,033 | €6,887 | -€1,146 | -14.3% |
| Taxes, remuneration and social security | 45 | - | €1,072 | +€1,072 | |
| Taxes | 450/3 | - | €1,072 | +€1,072 | |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Turnover | 70 | €156,803 | - | -€156,803 | |
| Goods, raw materials, services and sundry goods | 60/61 | €123,551 | - | -€123,551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,844 | €8,575 | +€5,731 | +202% |
| Other operating charges | 640/8 | €14,409 | €4,699 | -€9,710 | -67.4% |
| Gross operating margin | 9900 | €33,252 | €14,831 | -€18,421 | -55.4% |
| Operating profit (loss) | 9901 | €16,000 | €1,558 | -€14,442 | -90.3% |
| Financial charges | 65/66B | €224 | €91 | -€133 | -59.2% |
| Recurring financial charges | 65 | €224 | €91 | -€133 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €15,776 | €1,466 | -€14,310 | -90.7% |
| Income taxes | 67/77 | €2,985 | €6,137 | +€3,152 | +106% |
| Profit (loss) for the period | 9904 | €12,791 | -€4,670 | -€17,462 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,791 | -€4,670 | -€17,462 |
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 25 October 2026 via checked.be.