MASTECHAR: 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.
MASTECHAR
Largest movements
- Current investments -€1.9m
down €1.9m (-60.9%), from €3.0m to €1.2m
- Cash +€987,758
up €987,758 (+132.5%), from €745,450 to €1.7m
mainly Current investments (+€1.9m) and Net result for the year (+€656,743)
- Tangible fixed assets +€499,839
up €499,839 (+39.9%), from €1.3m to €1.8m
of which Land and buildings: +€526,715
- Receivables within one year +€483,417
new in 2025: €483,417
of which Other amounts receivable: +€274,873
- Other debts +€350,822
up €350,822 (+60.2%), from €582,797 to €933,619
- Reserves -€276,876
down €276,876 (-6.5%), from €4.3m to €4.0m
- Trade debts +€89,261
up €89,261 (+467.1%), from €19,109 to €108,371
- Gross operating margin -€82,669
down €82,669 (-7.8%), from €1.1m to €970,868
- Financial income +€42,911
up €42,911 (+38.6%), from €111,143 to €154,054
- Financial charges +€24,249
up €24,249 (+49.3%), from €49,211 to €73,460
- Taxes -€15,439
down €15,439 (-4.3%), from €361,810 to €346,371
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 | €5,046,153 | €5,162,330 | +€116,177 | +2.3% |
| Fixed assets | 21/28 | €1,251,559 | €1,751,398 | +€499,839 | +39.9% |
| Tangible fixed assets | 22/27 | €1,251,559 | €1,751,398 | +€499,839 | +39.9% |
| Land and buildings | 22 | €1,162,447 | €1,689,162 | +€526,715 | +45.3% |
| Furniture and vehicles | 24 | €89,113 | €62,236 | -€26,876 | -30.2% |
| Current assets | 29/58 | €3,794,594 | €3,410,932 | -€383,661 | -10.1% |
| Amounts receivable within one year | 40/41 | - | €483,417 | +€483,417 | |
| Trade receivables | 40 | - | €208,544 | +€208,544 | |
| Other amounts receivable | 41 | - | €274,873 | +€274,873 | |
| Current investments | 50/53 | €3,044,129 | €1,190,333 | -€1.9m | -60.9% |
| Cash at bank and in hand | 54/58 | €745,450 | €1,733,208 | +€987,758 | +132.5% |
| Deferred charges and accrued income | 490/1 | €5,015 | €3,975 | -€1,040 | -20.7% |
| Total equity and liabilities | 10/49 | €5,046,153 | €5,162,330 | +€116,177 | +2.3% |
| Equity | 10/15 | €4,280,579 | €4,003,703 | -€276,876 | -6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,268,179 | €3,991,303 | -€276,876 | -6.5% |
| Distributable reserves | 133 | €4,268,179 | €3,991,303 | -€276,876 | -6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €765,574 | €1,158,627 | +€393,053 | +51.3% |
| Amounts payable within one year | 42/48 | €765,574 | €1,158,627 | +€393,053 | +51.3% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €19,109 | €108,371 | +€89,261 | +467.1% |
| Suppliers | 440/4 | €19,109 | €108,371 | +€89,261 | +467.1% |
| Taxes, remuneration and social security | 45 | €163,667 | €116,637 | -€47,030 | -28.7% |
| Taxes | 450/3 | €163,667 | €112,953 | -€50,714 | -31.0% |
| Remuneration and social security | 454/9 | - | €3,684 | +€3,684 | |
| Other amounts payable | 47/48 | €582,797 | €933,619 | +€350,822 | +60.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,889 | €45,624 | +€1,735 | +4.0% |
| Other operating charges | 640/8 | €3,250 | €2,723 | -€528 | -16.2% |
| Gross operating margin | 9900 | €1,053,537 | €970,868 | -€82,669 | -7.8% |
| Operating profit (loss) | 9901 | €1,006,398 | €922,520 | -€83,877 | -8.3% |
| Financial income | 75/76B | €111,143 | €154,054 | +€42,911 | +38.6% |
| Recurring financial income | 75 | €111,143 | €154,054 | +€42,911 | +38.6% |
| Financial charges | 65/66B | €49,211 | €73,460 | +€24,249 | +49.3% |
| Recurring financial charges | 65 | €49,211 | €73,460 | +€24,249 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €1,068,330 | €1,003,114 | -€65,215 | -6.1% |
| Income taxes | 67/77 | €361,810 | €346,371 | -€15,439 | -4.3% |
| Profit (loss) for the period | 9904 | €706,520 | €656,743 | -€49,777 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €706,520 | €656,743 | -€49,777 | -7.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.