Mastanel: what changed
What changed
Mastanel
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
filed annual accounts (NBB)
Net result for the year
€15,838
2024 · €15,725+€113
Equity
€63,732
2024 · €47,893+€15,838
Cash
€3,887
2024 · €1,486+€2,401
Balance sheet total
€253,686
2024 · €223,472+€30,214
Largest movements
Assets
- Receivables within one year +€31,324
up €31,324 (+26.7%), from €117,520 to €148,845
of which Trade receivables: +€31,323
- Tangible fixed assets -€3,130
down €3,130 (-37.5%), from €8,344 to €5,214
of which Furniture and vehicles: -€2,831
Equity and liabilities
- Reserves +€15,838
up €15,838 (+69.2%), from €22,889 to €38,727
- Other debts +€14,607
up €14,607 (+33.6%), from €43,467 to €58,074
- Tax, wage and social debts -€6,689
down €6,689 (-41.9%), from €15,963 to €9,274
of which Taxes: -€6,689
- Current portion of long-term debt +€3,768
new in 2025: €3,768
Income statement
- Gross operating margin +€5,030
up €5,030 (+14.4%), from €35,011 to €40,041
- Financial income -€4,795
down €4,795 (-99.9%), from €4,801 to €6
- Taxes -€473
down €473 (-6.2%), from €7,619 to €7,147
- Depreciation +€449
up €449 (+7.9%), from €5,659 to €6,108
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€15,725
Gross operating margin
+€5,030
Depreciation
-€449
Other operating charges
-€20
Financial income
-€4,795
Financial charges
-€126
Taxes
+€473
Result 2025
€15,838
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1,612
Investment
-€2,978
Financing
+€3,768
Cash 2024
€1,486
From operations (derived)
+€1,612
Net result for the year
+€15,838
Depreciation
+€6,108
Receivables within one year
-€31,324
Deferred charges and accrued income
+€382
Trade debts
+€613
Tax, wage and social debts
-€6,689
Other debts
+€14,607
Accrued charges and deferred income
+€2,077
Investment (derived)
-€2,978
Investment in fixed assets (net)
-€2,978
Financing
+€3,768
Current portion of long-term debt
+€3,768
Cash 2025
€3,887
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €223,472 | €253,686 | +€30,214 | +13.5% |
| Fixed assets | 21/28 | €24,344 | €21,214 | -€3,130 | -12.9% |
| Tangible fixed assets | 22/27 | €8,344 | €5,214 | -€3,130 | -37.5% |
| Plant, machinery and equipment | 23 | - | €269 | +€269 | |
| Furniture and vehicles | 24 | €7,165 | €4,334 | -€2,831 | -39.5% |
| Other tangible fixed assets | 26 | €1,179 | €611 | -€568 | -48.2% |
| Financial fixed assets | 28 | €16,000 | €16,000 | = | 0.0% |
| Current assets | 29/58 | €199,128 | €232,472 | +€33,344 | +16.7% |
| Amounts receivable after more than one year | 29 | €60,160 | €60,160 | = | 0.0% |
| Trade receivables | 290 | €60,160 | €60,160 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117,520 | €148,845 | +€31,324 | +26.7% |
| Trade receivables | 40 | €37,517 | €68,839 | +€31,323 | +83.5% |
| Other amounts receivable | 41 | €80,004 | €80,005 | +€2 | 0.0% |
| Cash at bank and in hand | 54/58 | €1,486 | €3,887 | +€2,401 | +162% |
| Deferred charges and accrued income | 490/1 | €19,962 | €19,581 | -€382 | -1.9% |
| Total equity and liabilities | 10/49 | €223,472 | €253,686 | +€30,214 | +13.5% |
| Equity | 10/15 | €47,893 | €63,732 | +€15,838 | +33.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,889 | €38,727 | +€15,838 | +69.2% |
| Distributable reserves | 133 | €22,889 | €38,727 | +€15,838 | +69.2% |
| Profit (loss) carried forward | 14 | €18,805 | €18,805 | = | 0.0% |
| Amounts payable | 17/49 | €175,578 | €189,954 | +€14,376 | +8.2% |
| Amounts payable within one year | 42/48 | €164,052 | €176,351 | +€12,299 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,768 | +€3,768 | |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Other loans | 439 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €4,622 | €5,235 | +€613 | +13.3% |
| Suppliers | 440/4 | €4,622 | €5,235 | +€613 | +13.3% |
| Taxes, remuneration and social security | 45 | €15,963 | €9,274 | -€6,689 | -41.9% |
| Taxes | 450/3 | €13,963 | €7,274 | -€6,689 | -47.9% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €43,467 | €58,074 | +€14,607 | +33.6% |
| Accrued charges and deferred income | 492/3 | €11,526 | €13,603 | +€2,077 | +18.0% |
| Remuneration, social security and pensions | 62 | €2,362 | €2,362 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,659 | €6,108 | +€449 | +7.9% |
| Other operating charges | 640/8 | €366 | €386 | +€20 | +5.4% |
| Gross operating margin | 9900 | €35,011 | €40,041 | +€5,030 | +14.4% |
| Operating profit (loss) | 9901 | €26,624 | €31,185 | +€4,561 | +17.1% |
| Financial income | 75/76B | €4,801 | €6 | -€4,795 | -99.9% |
| Recurring financial income | 75 | €4,801 | €6 | -€4,795 | -99.9% |
| Financial charges | 65/66B | €8,080 | €8,206 | +€126 | +1.6% |
| Recurring financial charges | 65 | €8,080 | €8,206 | +€126 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €23,344 | €22,985 | -€359 | -1.5% |
| Income taxes | 67/77 | €7,619 | €7,147 | -€473 | -6.2% |
| Profit (loss) for the period | 9904 | €15,725 | €15,838 | +€113 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,725 | €15,838 | +€113 | +0.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.