MAST & CO: 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 & CO
Largest movements
- Receivables within one year -€20,475
down €20,475 (-54.9%), from €37,318 to €16,843
of which Other amounts receivable: -€21,062
- Cash -€14,090
down €14,090 (-53.8%), from €26,185 to €12,094
mainly Debts after one year (-€122,923) and Other debts (-€18,126)
- Debts after one year -€122,923
down €122,923 (-27.3%), from €450,977 to €328,054
- Reserves +€115,024
up €115,024 (+16.5%), from €696,237 to €811,261
- Other debts -€18,126
down €18,126 (-13.3%), from €136,459 to €118,333
- Gross operating margin -€2,202
down €2,202 (-1.2%), from €183,629 to €181,427
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 | €1,398,141 | €1,363,576 | -€34,565 | -2.5% |
| Fixed assets | 21/28 | €1,334,639 | €1,334,639 | = | 0.0% |
| Financial fixed assets | 28 | €1,334,639 | €1,334,639 | = | 0.0% |
| Current assets | 29/58 | €63,502 | €28,937 | -€34,565 | -54.4% |
| Amounts receivable within one year | 40/41 | €37,318 | €16,843 | -€20,475 | -54.9% |
| Trade receivables | 40 | €16,256 | €16,843 | +€587 | +3.6% |
| Other amounts receivable | 41 | €21,062 | €0 | -€21,062 | -100.0% |
| Cash at bank and in hand | 54/58 | €26,185 | €12,094 | -€14,090 | -53.8% |
| Total equity and liabilities | 10/49 | €1,398,141 | €1,363,576 | -€34,565 | -2.5% |
| Equity | 10/15 | €702,437 | €817,461 | +€115,024 | +16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €696,237 | €811,261 | +€115,024 | +16.5% |
| Distributable reserves | 133 | €696,237 | €811,261 | +€115,024 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €695,704 | €546,115 | -€149,589 | -21.5% |
| Amounts payable after more than one year | 17 | €450,977 | €328,054 | -€122,923 | -27.3% |
| Financial debts | 170/4 | €450,977 | €328,054 | -€122,923 | -27.3% |
| Amounts payable within one year | 42/48 | €237,109 | €212,739 | -€24,370 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €69,950 | €72,923 | +€2,973 | +4.3% |
| Trade debts | 44 | €299 | €199 | -€99 | -33.3% |
| Suppliers | 440/4 | €299 | €199 | -€99 | -33.3% |
| Taxes, remuneration and social security | 45 | €30,401 | €21,283 | -€9,118 | -30.0% |
| Taxes | 450/3 | €30,401 | €21,283 | -€9,118 | -30.0% |
| Other amounts payable | 47/48 | €136,459 | €118,333 | -€18,126 | -13.3% |
| Accrued charges and deferred income | 492/3 | €7,618 | €5,322 | -€2,296 | -30.1% |
| Other operating charges | 640/8 | €85 | €279 | +€194 | +227.8% |
| Gross operating margin | 9900 | €183,629 | €181,427 | -€2,202 | -1.2% |
| Operating profit (loss) | 9901 | €183,544 | €181,148 | -€2,396 | -1.3% |
| Financial charges | 65/66B | €19,608 | €18,505 | -€1,103 | -5.6% |
| Recurring financial charges | 65 | €19,608 | €18,505 | -€1,103 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €163,935 | €162,643 | -€1,293 | -0.8% |
| Income taxes | 67/77 | €47,680 | €47,619 | -€61 | -0.1% |
| Profit (loss) for the period | 9904 | €116,255 | €115,024 | -€1,231 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €116,255 | €115,024 | -€1,231 | -1.1% |
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 12 October 2026 via checked.be.