Mastatwa: 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.
Mastatwa
Largest movements
- Cash +€89,239
up €89,239 (+67.0%), from €133,215 to €222,453
mainly Net result for the year (+€113,671) and Depreciation (+€7,659)
- Receivables within one year +€14,045
up €14,045 (+15.6%), from €90,125 to €104,170
of which Other amounts receivable: +€14,045
- Current investments +€11,845
up €11,845 (+400%), from €2,961 to €14,806
- Tangible fixed assets -€7,659
down €7,659 (-46.4%), from €16,520 to €8,861
of which Furniture and vehicles: -€6,511
- Reserves +€112,838
up €112,838 (+43.3%), from €260,868 to €373,706
- Financial income -€88,569
down €88,569 (-58.9%), from €150,299 to €61,730
- Taxes -€7,559
down €7,559 (-18.4%), from €41,133 to €33,574
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 | €583,176 | €690,645 | +€107,469 | +18.4% |
| Fixed assets | 21/28 | €356,520 | €348,861 | -€7,659 | -2.1% |
| Tangible fixed assets | 22/27 | €16,520 | €8,861 | -€7,659 | -46.4% |
| Plant, machinery and equipment | 23 | €1,149 | - | -€1,149 | |
| Furniture and vehicles | 24 | €15,371 | €8,861 | -€6,511 | -42.4% |
| Financial fixed assets | 28 | €340,000 | €340,000 | = | 0.0% |
| Current assets | 29/58 | €226,656 | €341,784 | +€115,129 | +50.8% |
| Amounts receivable within one year | 40/41 | €90,125 | €104,170 | +€14,045 | +15.6% |
| Trade receivables | 40 | €15,125 | €15,125 | = | 0.0% |
| Other amounts receivable | 41 | €75,000 | €89,045 | +€14,045 | +18.7% |
| Current investments | 50/53 | €2,961 | €14,806 | +€11,845 | +400% |
| Cash at bank and in hand | 54/58 | €133,215 | €222,453 | +€89,239 | +67.0% |
| Deferred charges and accrued income | 490/1 | €355 | €355 | = | 0.0% |
| Total equity and liabilities | 10/49 | €583,176 | €690,645 | +€107,469 | +18.4% |
| Equity | 10/15 | €261,868 | €374,706 | +€112,838 | +43.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €260,868 | €373,706 | +€112,838 | +43.3% |
| Distributable reserves | 133 | €260,868 | €373,706 | +€112,838 | +43.3% |
| Amounts payable | 17/49 | €321,308 | €315,939 | -€5,369 | -1.7% |
| Amounts payable after more than one year | 17 | €310,000 | €310,000 | = | 0.0% |
| Financial debts | 170/4 | €310,000 | €310,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,308 | €5,939 | -€5,369 | -47.5% |
| Trade debts | 44 | €457 | €289 | -€168 | -36.8% |
| Suppliers | 440/4 | €457 | €289 | -€168 | -36.8% |
| Taxes, remuneration and social security | 45 | €8,611 | €2,855 | -€5,756 | -66.8% |
| Taxes | 450/3 | €8,611 | €2,855 | -€5,756 | -66.8% |
| Other amounts payable | 47/48 | €2,241 | €2,796 | +€555 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,385 | €7,659 | -€726 | -8.7% |
| Other operating charges | 640/8 | €40 | €40 | -€0 | -0.7% |
| Gross operating margin | 9900 | €110,413 | €111,492 | +€1,079 | +1.0% |
| Operating profit (loss) | 9901 | €101,987 | €103,793 | +€1,806 | +1.8% |
| Financial income | 75/76B | €150,299 | €61,730 | -€88,569 | -58.9% |
| Recurring financial income | 75 | €150,299 | €61,730 | -€88,569 | -58.9% |
| Financial charges | 65/66B | €18,181 | €18,278 | +€97 | +0.5% |
| Recurring financial charges | 65 | €18,181 | €18,278 | +€97 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €234,105 | €147,245 | -€86,860 | -37.1% |
| Income taxes | 67/77 | €41,133 | €33,574 | -€7,559 | -18.4% |
| Profit (loss) for the period | 9904 | €192,972 | €113,671 | -€79,301 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €192,972 | €113,671 | -€79,301 | -41.1% |
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 29 October 2026 via checked.be.