MAST IMAGE: 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.
MAST IMAGE
Largest movements
- Receivables within one year +€163,492
up €163,492 (+44.4%), from €367,897 to €531,389
- Tangible fixed assets +€115,312
up €115,312 (+306.5%), from €37,619 to €152,931
of which Furniture and vehicles: +€116,723
- Cash -€75,494
down €75,494 (-88.2%), from €85,607 to €10,113
mainly Receivables within one year (-€163,492) and Investment in fixed assets (net) (-€137,917)
- Deferred charges and accrued income +€17,373
up €17,373 (+16.0%), from €108,775 to €126,148
- Current investments +€10,106
up €10,106 (+42.8%), from €23,590 to €33,695
- Profit (loss) carried forward +€193,794
up €193,794 (+43.3%), from €447,570 to €641,364
- Tax, wage and social debts +€36,995
up €36,995 (+22.9%), from €161,657 to €198,653
of which Taxes: +€36,995
- Gross operating margin +€107,482
up €107,482 (+76.5%), from €140,474 to €247,956
- Taxes -€96,894
down €96,894 (-62.8%), from €154,411 to €57,516
- Depreciation +€12,280
up €12,280 (+118.9%), from €10,326 to €22,605
- Financial income +€8,849
up €8,849 (+49.2%), from €18,004 to €26,853
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €623,488 | €854,277 | +€230,789 | +37.0% |
| Fixed assets | 21/28 | €37,619 | €152,931 | +€115,312 | +306.5% |
| Tangible fixed assets | 22/27 | €37,619 | €152,931 | +€115,312 | +306.5% |
| Land and buildings | 22 | €32,417 | €31,006 | -€1,411 | -4.4% |
| Furniture and vehicles | 24 | €5,202 | €121,925 | +€116,723 | +2243.8% |
| Current assets | 29/58 | €585,869 | €701,346 | +€115,477 | +19.7% |
| Amounts receivable within one year | 40/41 | €367,897 | €531,389 | +€163,492 | +44.4% |
| Other amounts receivable | 41 | €367,897 | €531,389 | +€163,492 | +44.4% |
| Current investments | 50/53 | €23,590 | €33,695 | +€10,106 | +42.8% |
| Cash at bank and in hand | 54/58 | €85,607 | €10,113 | -€75,494 | -88.2% |
| Deferred charges and accrued income | 490/1 | €108,775 | €126,148 | +€17,373 | +16.0% |
| Total equity and liabilities | 10/49 | €623,488 | €854,277 | +€230,789 | +37.0% |
| Equity | 10/15 | €461,830 | €655,624 | +€193,794 | +42.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €447,570 | €641,364 | +€193,794 | +43.3% |
| Amounts payable | 17/49 | €161,657 | €198,653 | +€36,995 | +22.9% |
| Amounts payable within one year | 42/48 | €161,657 | €198,653 | +€36,995 | +22.9% |
| Taxes, remuneration and social security | 45 | €161,657 | €198,653 | +€36,995 | +22.9% |
| Taxes | 450/3 | €155,657 | €192,653 | +€36,995 | +23.8% |
| Remuneration and social security | 454/9 | €6,000 | €6,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,326 | €22,605 | +€12,280 | +118.9% |
| Other operating charges | 640/8 | €1,464 | €549 | -€915 | -62.5% |
| Gross operating margin | 9900 | €140,474 | €247,956 | +€107,482 | +76.5% |
| Operating profit (loss) | 9901 | €128,684 | €224,802 | +€96,118 | +74.7% |
| Financial income | 75/76B | €18,004 | €26,853 | +€8,849 | +49.2% |
| Recurring financial income | 75 | €18,004 | €26,853 | +€8,849 | +49.2% |
| Financial charges | 65/66B | €666 | €345 | -€322 | -48.3% |
| Recurring financial charges | 65 | €666 | €345 | -€322 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €146,022 | €251,310 | +€105,289 | +72.1% |
| Income taxes | 67/77 | €154,411 | €57,516 | -€96,894 | -62.8% |
| Profit (loss) for the period | 9904 | -€8,389 | €193,794 | +€202,183 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,389 | €193,794 | +€202,183 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.