MASTELLE: 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.
MASTELLE
Largest movements
- Cash -€65,172
down €65,172 (-49.3%), from €132,304 to €67,132
mainly Contributions, distributions and other (-€166,669) and Tax, wage and social debts (-€2,696)
- Receivables after one year -€19,558
down €19,558 (-100.0%), from €19,558 to €0
- Receivables within one year -€19,451
down €19,451 (-100.0%), from €19,451 to €0
of which Other amounts receivable: -€18,018
- Reserves -€111,473
down €111,473 (-100.0%), from €111,473 to €0
- Other debts +€8,195
up €8,195 (+15.5%), from €52,825 to €61,020
- Tax, wage and social debts -€2,696
down €2,696 (-26.9%), from €10,035 to €7,339
- Gross operating margin +€8,213
up €8,213 (+12.1%), from €68,073 to €76,286
- Other operating charges +€3,101
up €3,101 (+437.0%), from €710 to €3,811
- Depreciation +€1,329
up €1,329 (+294.5%), from €451 to €1,780
- Financial income -€1,282
down €1,282 (-100.0%), from €1,282 to €0
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 | €180,818 | €76,001 | -€104,817 | -58.0% |
| Fixed assets | 21/28 | €7,474 | €7,211 | -€262 | -3.5% |
| Tangible fixed assets | 22/27 | €7,324 | €7,061 | -€262 | -3.6% |
| Plant, machinery and equipment | 23 | - | €1,293 | +€1,293 | |
| Furniture and vehicles | 24 | €7,324 | €5,769 | -€1,555 | -21.2% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €173,344 | €68,790 | -€104,554 | -60.3% |
| Amounts receivable after more than one year | 29 | €19,558 | €0 | -€19,558 | -100.0% |
| Other amounts receivable | 291 | €19,558 | €0 | -€19,558 | -100.0% |
| Amounts receivable within one year | 40/41 | €19,451 | €0 | -€19,451 | -100.0% |
| Trade receivables | 40 | €1,433 | €0 | -€1,433 | -100.0% |
| Other amounts receivable | 41 | €18,018 | €0 | -€18,018 | -100.0% |
| Cash at bank and in hand | 54/58 | €132,304 | €67,132 | -€65,172 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,032 | €1,658 | -€374 | -18.4% |
| Total equity and liabilities | 10/49 | €180,818 | €76,001 | -€104,817 | -58.0% |
| Equity | 10/15 | €116,473 | €5,000 | -€111,473 | -95.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,473 | €0 | -€111,473 | -100.0% |
| Distributable reserves | 133 | €111,473 | €0 | -€111,473 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €64,344 | €71,001 | +€6,657 | +10.3% |
| Amounts payable within one year | 42/48 | €64,344 | €70,919 | +€6,574 | +10.2% |
| Trade debts | 44 | €1,484 | €2,560 | +€1,076 | +72.5% |
| Suppliers | 440/4 | €1,484 | €2,560 | +€1,076 | +72.5% |
| Taxes, remuneration and social security | 45 | €10,035 | €7,339 | -€2,696 | -26.9% |
| Taxes | 450/3 | €10,035 | €7,339 | -€2,696 | -26.9% |
| Other amounts payable | 47/48 | €52,825 | €61,020 | +€8,195 | +15.5% |
| Accrued charges and deferred income | 492/3 | - | €82 | +€82 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €451 | €1,780 | +€1,329 | +294.5% |
| Other operating charges | 640/8 | €710 | €3,811 | +€3,101 | +437.0% |
| Gross operating margin | 9900 | €68,073 | €76,286 | +€8,213 | +12.1% |
| Operating profit (loss) | 9901 | €66,912 | €70,695 | +€3,783 | +5.7% |
| Financial income | 75/76B | €1,282 | €0 | -€1,282 | -100.0% |
| Recurring financial income | 75 | €1,282 | €0 | -€1,282 | -100.0% |
| Financial charges | 65/66B | €54 | €74 | +€20 | +37.8% |
| Recurring financial charges | 65 | €54 | €74 | +€20 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €68,140 | €70,621 | +€2,480 | +3.6% |
| Income taxes | 67/77 | €15,315 | €15,425 | +€111 | +0.7% |
| Profit (loss) for the period | 9904 | €52,825 | €55,195 | +€2,370 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,825 | €55,195 | +€2,370 | +4.5% |
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 12 October 2026 via checked.be.