MASTEF: 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.
MASTEF
Largest movements
- Receivables within one year +€7,428
up €7,428 (+108.1%), from €6,872 to €14,300
of which Trade receivables: +€10,029
- Cash -€2,096
down €2,096 (-56.2%), from €3,728 to €1,632
mainly Receivables within one year (-€7,428) and Contributions, distributions and other (-€2,500)
- Profit (loss) carried forward +€3,668
up €3,668 (+76.2%), from €4,811 to €8,479
- Contributions -€2,500
no longer reported in 2025 (was €2,500)
- Tax, wage and social debts +€1,630
up €1,630 (+90.9%), from €1,793 to €3,423
of which Remuneration and social security: +€1,800
- Accrued charges and deferred income +€1,384
new in 2025: €1,384
- Trade debts +€1,095
up €1,095 (+73.1%), from €1,497 to €2,591
- Gross operating margin -€1,159
down €1,159 (-19.1%), from €6,076 to €4,917
- Taxes -€89
down €89 (-7.4%), from €1,200 to €1,111
- Other operating charges +€68
new in 2025: €68
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 | €10,600 | €15,932 | +€5,331 | +50.3% |
| Current assets | 29/58 | €10,600 | €15,932 | +€5,331 | +50.3% |
| Amounts receivable within one year | 40/41 | €6,872 | €14,300 | +€7,428 | +108.1% |
| Trade receivables | 40 | €4,271 | €14,300 | +€10,029 | +234.8% |
| Other amounts receivable | 41 | €2,602 | €0 | -€2,602 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,728 | €1,632 | -€2,096 | -56.2% |
| Deferred charges and accrued income | 490/1 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €10,600 | €15,932 | +€5,331 | +50.3% |
| Equity | 10/15 | €7,311 | €8,479 | +€1,168 | +16.0% |
| Contributions | 10/11 | €2,500 | - | -€2,500 | |
| Capital | 10 | €2,500 | - | -€2,500 | |
| Issued capital | 100 | €2,500 | - | -€2,500 | |
| Profit (loss) carried forward | 14 | €4,811 | €8,479 | +€3,668 | +76.2% |
| Amounts payable | 17/49 | €3,289 | €7,453 | +€4,163 | +126.6% |
| Amounts payable within one year | 42/48 | €3,289 | €6,069 | +€2,779 | +84.5% |
| Trade debts | 44 | €1,497 | €2,591 | +€1,095 | +73.1% |
| Suppliers | 440/4 | €1,497 | €2,591 | +€1,095 | +73.1% |
| Taxes, remuneration and social security | 45 | €1,793 | €3,423 | +€1,630 | +90.9% |
| Taxes | 450/3 | €1,593 | €1,423 | -€170 | -10.7% |
| Remuneration and social security | 454/9 | €200 | €2,000 | +€1,800 | +900.0% |
| Other amounts payable | 47/48 | - | €55 | +€55 | |
| Accrued charges and deferred income | 492/3 | - | €1,384 | +€1,384 | |
| Other operating charges | 640/8 | - | €68 | +€68 | |
| Gross operating margin | 9900 | €6,076 | €4,917 | -€1,159 | -19.1% |
| Operating profit (loss) | 9901 | €6,076 | €4,849 | -€1,227 | -20.2% |
| Financial charges | 65/66B | €65 | €70 | +€4 | +6.8% |
| Recurring financial charges | 65 | €65 | €70 | +€4 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €6,011 | €4,779 | -€1,232 | -20.5% |
| Income taxes | 67/77 | €1,200 | €1,111 | -€89 | -7.4% |
| Profit (loss) for the period | 9904 | €4,811 | €3,668 | -€1,143 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,811 | €3,668 | -€1,143 | -23.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.