MAST: 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.
MAST
Largest movements
- Receivables within one year -€31,192
down €31,192 (-13.9%), from €224,681 to €193,488
of which Other amounts receivable: -€28,529
- Stocks and contracts +€24,250
up €24,250 (+4,041%), from €600 to €24,850
- Cash -€15,007
down €15,007 (-47.5%), from €31,616 to €16,609
mainly Investment in fixed assets (net) (-€32,160) and Net result for the year (-€25,415)
- Reserves -€25,415
down €25,415 (-8.4%), from €303,381 to €277,966
of which Distributable reserves: -€25,415
- Gross operating margin -€56,567
down €56,567 (-22.0%), from €256,775 to €200,208
- Staff costs +€8,629
up €8,629 (+4.7%), from €182,456 to €191,086
- Depreciation -€5,194
down €5,194 (-13.6%), from €38,073 to €32,879
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €351,088 | €328,420 | -€22,668 | -6.5% |
| Fixed assets | 21/28 | €94,191 | €93,473 | -€719 | -0.8% |
| Tangible fixed assets | 22/27 | €94,191 | €93,473 | -€719 | -0.8% |
| Plant, machinery and equipment | 23 | €85,349 | €86,746 | +€1,398 | +1.6% |
| Furniture and vehicles | 24 | €1,073 | €1,618 | +€545 | +50.7% |
| Other tangible fixed assets | 26 | €7,769 | €5,108 | -€2,661 | -34.3% |
| Current assets | 29/58 | €256,896 | €234,947 | -€21,949 | -8.5% |
| Stocks and contracts in progress | 3 | €600 | €24,850 | +€24,250 | +4,041% |
| Stocks | 30/36 | €600 | €24,850 | +€24,250 | +4,041% |
| Amounts receivable within one year | 40/41 | €224,681 | €193,488 | -€31,192 | -13.9% |
| Trade receivables | 40 | €32,893 | €30,229 | -€2,663 | -8.1% |
| Other amounts receivable | 41 | €191,788 | €163,259 | -€28,529 | -14.9% |
| Cash at bank and in hand | 54/58 | €31,616 | €16,609 | -€15,007 | -47.5% |
| Total equity and liabilities | 10/49 | €351,088 | €328,420 | -€22,668 | -6.5% |
| Equity | 10/15 | €321,973 | €296,558 | -€25,415 | -7.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €303,381 | €277,966 | -€25,415 | -8.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €257 | €257 | = | 0.0% |
| Distributable reserves | 133 | €301,265 | €275,850 | -€25,415 | -8.4% |
| Amounts payable | 17/49 | €29,115 | €31,862 | +€2,747 | +9.4% |
| Amounts payable after more than one year | 17 | €667 | €667 | = | 0.0% |
| Financial debts | 170/4 | €667 | €667 | = | 0.0% |
| Amounts payable within one year | 42/48 | €24,265 | €26,411 | +€2,146 | +8.8% |
| Taxes, remuneration and social security | 45 | €24,265 | €26,411 | +€2,146 | +8.8% |
| Taxes | 450/3 | €12,380 | €13,375 | +€994 | +8.0% |
| Remuneration and social security | 454/9 | €11,885 | €13,036 | +€1,151 | +9.7% |
| Accrued charges and deferred income | 492/3 | €4,183 | €4,785 | +€602 | +14.4% |
| Remuneration, social security and pensions | 62 | €182,456 | €191,086 | +€8,629 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,073 | €32,879 | -€5,194 | -13.6% |
| Other operating charges | 640/8 | €687 | €1,391 | +€704 | +103% |
| Gross operating margin | 9900 | €256,775 | €200,208 | -€56,567 | -22.0% |
| Operating profit (loss) | 9901 | €35,558 | -€25,148 | -€60,707 | |
| Financial income | 75/76B | €0 | €8 | +€8 | +20,200% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +20,200% |
| Financial charges | 65/66B | €671 | €275 | -€396 | -59.0% |
| Recurring financial charges | 65 | €671 | €275 | -€396 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €34,888 | -€25,415 | -€60,302 | |
| Income taxes | 67/77 | €119 | - | -€119 | |
| Profit (loss) for the period | 9904 | €34,769 | -€25,415 | -€60,183 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,769 | -€25,415 | -€60,183 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.