MASTACOPIA: 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.
MASTACOPIA
Largest movements
- Tangible fixed assets -€297,512
down €297,512 (-6.9%), from €4.3m to €4.0m
of which Land and buildings: -€291,512
- Receivables within one year -€112,498
down €112,498 (-93.3%), from €120,550 to €8,052
of which Other amounts receivable: -€91,349
- Debts after one year -€299,938
down €299,938 (-18.5%), from €1.6m to €1.3m
- Reserves -€114,431
down €114,431 (-55.2%), from €207,471 to €93,040
of which Tax-exempt reserves: -€114,431
- Other debts +€87,953
up €87,953 (+5.5%), from €1.6m to €1.7m
- Provisions -€64,053
down €64,053 (-29.4%), from €217,939 to €153,886
- Gross operating margin -€57,173
down €57,173, from €54,883 to -€2,290
- Financial income -€15,007
down €15,007 (-74.5%), from €20,138 to €5,131
- Depreciation +€8,713
up €8,713 (+8.4%), from €104,146 to €112,859
- Financial charges -€8,518
down €8,518 (-17.9%), from €47,663 to €39,144
- Other operating charges +€8,342
up €8,342 (+47.4%), from €17,596 to €25,937
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 | €4,534,974 | €4,133,153 | -€401,820 | -8.9% |
| Formation expenses | 20 | €23,163 | €22,340 | -€823 | -3.6% |
| Fixed assets | 21/28 | €4,390,693 | €4,086,705 | -€303,989 | -6.9% |
| Intangible fixed assets | 21 | €56,297 | €49,820 | -€6,477 | -11.5% |
| Tangible fixed assets | 22/27 | €4,334,396 | €4,036,885 | -€297,512 | -6.9% |
| Land and buildings | 22 | €4,275,043 | €3,983,531 | -€291,512 | -6.8% |
| Plant, machinery and equipment | 23 | €59,353 | €53,353 | -€6,000 | -10.1% |
| Current assets | 29/58 | €121,117 | €24,108 | -€97,009 | -80.1% |
| Amounts receivable within one year | 40/41 | €120,550 | €8,052 | -€112,498 | -93.3% |
| Trade receivables | 40 | €29,183 | €8,035 | -€21,148 | -72.5% |
| Other amounts receivable | 41 | €91,366 | €17 | -€91,349 | -100.0% |
| Cash at bank and in hand | 54/58 | €307 | €15,878 | +€15,571 | +5,066% |
| Deferred charges and accrued income | 490/1 | €260 | €178 | -€82 | -31.6% |
| Total equity and liabilities | 10/49 | €4,534,974 | €4,133,153 | -€401,820 | -8.9% |
| Equity | 10/15 | €800,068 | €689,022 | -€111,046 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €672,444 | €672,444 | = | 0.0% |
| Reserves | 13 | €207,471 | €93,040 | -€114,431 | -55.2% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Tax-exempt reserves | 132 | €133,228 | €18,797 | -€114,431 | -85.9% |
| Distributable reserves | 133 | €70,523 | €70,523 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,447 | -€95,063 | +€3,385 | +3.4% |
| Provisions and deferred taxes | 16 | €217,939 | €153,886 | -€64,053 | -29.4% |
| Deferred taxes | 168 | €217,939 | €153,886 | -€64,053 | -29.4% |
| Amounts payable | 17/49 | €3,516,967 | €3,290,246 | -€226,721 | -6.4% |
| Amounts payable after more than one year | 17 | €1,619,901 | €1,319,963 | -€299,938 | -18.5% |
| Financial debts | 170/4 | €1,619,901 | €1,319,963 | -€299,938 | -18.5% |
| Amounts payable within one year | 42/48 | €1,881,750 | €1,954,552 | +€72,802 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €159,533 | €149,729 | -€9,804 | -6.1% |
| Trade debts | 44 | €133,900 | €106,817 | -€27,083 | -20.2% |
| Suppliers | 440/4 | €133,900 | €106,817 | -€27,083 | -20.2% |
| Taxes, remuneration and social security | 45 | €7 | €21,743 | +€21,736 | +315,935% |
| Taxes | 450/3 | €7 | €21,743 | +€21,736 | +315,935% |
| Other amounts payable | 47/48 | €1,588,310 | €1,676,263 | +€87,953 | +5.5% |
| Accrued charges and deferred income | 492/3 | €15,316 | €15,731 | +€415 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,146 | €112,859 | +€8,713 | +8.4% |
| Other operating charges | 640/8 | €17,596 | €25,937 | +€8,342 | +47.4% |
| Gross operating margin | 9900 | €54,883 | -€2,290 | -€57,173 | |
| Operating profit (loss) | 9901 | -€66,858 | -€141,086 | -€74,228 | -111% |
| Financial income | 75/76B | €20,138 | €5,131 | -€15,007 | -74.5% |
| Recurring financial income | 75 | €20,138 | €5,131 | -€15,007 | -74.5% |
| Financial charges | 65/66B | €47,663 | €39,144 | -€8,518 | -17.9% |
| Recurring financial charges | 65 | €47,663 | €39,144 | -€8,518 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€94,383 | -€175,099 | -€80,716 | -85.5% |
| Transfer from deferred taxes | 780 | €7,030 | €64,053 | +€57,022 | +811% |
| Profit (loss) for the period | 9904 | -€87,353 | -€111,046 | -€23,694 | -27.1% |
| Transfer from tax-exempt reserves | 789 | €3,691 | €114,431 | +€110,740 | +3,000% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,661 | €3,385 | +€87,046 |
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 15 October 2026 via checked.be.