MASU Technics: 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.
What changed
MASU Technics
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €518,703+€1.5m
Equity
€13.8m
2024 · €11.7m+€2.0m
Cash
€422,230
2024 · €424,743-€2,513
Balance sheet total
€15.2m
2024 · €14.4m+€880,059
Largest movements
Assets
- Current investments +€1.1m
up €1.1m (+23.2%), from €4.6m to €5.6m
- Receivables within one year -€414,505
down €414,505 (-76.2%), from €544,266 to €129,761
of which Trade receivables: -€376,960
- Tangible fixed assets +€261,045
up €261,045 (+6.9%), from €3.8m to €4.0m
of which Plant, machinery and equipment: +€416,693
Equity and liabilities
- Reserves +€4.3m
up €4.3m (+301.8%), from €1.4m to €5.7m
- Profit (loss) carried forward -€2.3m
down €2.3m (-100.0%), from €2.3m to €0
- Other debts -€1.3m
down €1.3m (-73.7%), from €1.7m to €448,987
Income statement
- Financial income +€1.4m
up €1.4m (+2060.3%), from €67,680 to €1.5m
- Other operating income +€680,972
up €680,972 (+24713.4%), from €2,755 to €683,728
- Depreciation +€301,775
up €301,775 (+212.0%), from €142,336 to €444,111
- Services and other goods +€77,215
up €77,215 (+65.9%), from €117,161 to €194,376
- Taxes +€70,826
up €70,826 (+37.2%), from €190,384 to €261,210
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.
Result 2024
€518,703
Turnover
-€50,824
Other operating income
+€680,972
Services and other goods
-€77,215
Depreciation
-€301,775
Other operating charges
-€49,240
Financial income
+€1.4m
Financial charges
-€809
Taxes
-€70,826
Result 2025
€2.0m
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.
From operations
+€1.8m
Investment
-€1.8m
Financing
€0
Cash 2024
€424,743
From operations (derived)
+€1.8m
Net result for the year
+€2.0m
Depreciation
+€444,111
Receivables within one year
+€414,505
Deferred charges and accrued income
+€20,481
Trade debts
+€106,431
Tax, wage and social debts
-€24,224
Other debts
-€1.3m
Accrued charges and deferred income
+€14,676
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€705,156
Current investments
-€1.1m
Cash 2025
€422,230
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,364,694 | €15,244,753 | +€880,059 | +6.1% |
| Fixed assets | 21/28 | €8,812,101 | €9,073,146 | +€261,045 | +3.0% |
| Tangible fixed assets | 22/27 | €3,758,219 | €4,019,264 | +€261,045 | +6.9% |
| Land and buildings | 22 | €3,211,933 | €2,931,848 | -€280,085 | -8.7% |
| Plant, machinery and equipment | 23 | €546,286 | €962,979 | +€416,693 | +76.3% |
| Furniture and vehicles | 24 | - | €124,437 | +€124,437 | |
| Financial fixed assets | 28 | €5,053,881 | €5,053,881 | = | 0.0% |
| Affiliated companies | 280/1 | €5,003,881 | €5,003,881 | = | 0.0% |
| Participating interests | 280 | €5,003,881 | €5,003,881 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €50,000 | €50,000 | = | 0.0% |
| Participating interests | 282 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €5,552,594 | €6,171,607 | +€619,014 | +11.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €544,266 | €129,761 | -€414,505 | -76.2% |
| Trade receivables | 40 | €414,066 | €37,106 | -€376,960 | -91.0% |
| Other amounts receivable | 41 | €130,200 | €92,655 | -€37,545 | -28.8% |
| Current investments | 50/53 | €4,554,861 | €5,611,374 | +€1.1m | +23.2% |
| Other investments | 51/53 | €4,554,861 | €5,611,374 | +€1.1m | +23.2% |
| Cash at bank and in hand | 54/58 | €424,743 | €422,230 | -€2,513 | -0.6% |
| Deferred charges and accrued income | 490/1 | €28,724 | €8,243 | -€20,481 | -71.3% |
| Total equity and liabilities | 10/49 | €14,364,694 | €15,244,753 | +€880,059 | +6.1% |
| Equity | 10/15 | €11,738,956 | €13,782,388 | +€2.0m | +17.4% |
| Contributions | 10/11 | €8,060,000 | €8,060,000 | = | 0.0% |
| Reserves | 13 | €1,424,357 | €5,722,388 | +€4.3m | +301.8% |
| Distributable reserves | 133 | €1,424,357 | €5,722,388 | +€4.3m | +301.8% |
| Profit (loss) carried forward | 14 | €2,254,599 | €0 | -€2.3m | -100.0% |
| Amounts payable | 17/49 | €2,625,738 | €1,462,365 | -€1.2m | -44.3% |
| Amounts payable after more than one year | 17 | €850,000 | €850,000 | = | 0.0% |
| Financial debts | 170/4 | €850,000 | €850,000 | = | 0.0% |
| Credit institutions | 173 | €850,000 | €850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,775,573 | €597,524 | -€1.2m | -66.3% |
| Trade debts | 44 | €5,329 | €111,761 | +€106,431 | +1997.1% |
| Suppliers | 440/4 | €5,329 | €111,761 | +€106,431 | +1997.1% |
| Taxes, remuneration and social security | 45 | €61,000 | €36,776 | -€24,224 | -39.7% |
| Taxes | 450/3 | €61,000 | €36,776 | -€24,224 | -39.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,709,243 | €448,987 | -€1.3m | -73.7% |
| Accrued charges and deferred income | 492/3 | €165 | €14,841 | +€14,676 | +8880.1% |
| Operating income | 70/76A | €957,511 | €1,587,660 | +€630,148 | +65.8% |
| Turnover | 70 | €954,756 | €903,932 | -€50,824 | -5.3% |
| Other operating income | 74 | €2,755 | €683,728 | +€680,972 | +24713.4% |
| Operating charges | 60/66A | €297,619 | €725,849 | +€428,230 | +143.9% |
| Services and other goods | 61 | €117,161 | €194,376 | +€77,215 | +65.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,336 | €444,111 | +€301,775 | +212.0% |
| Other operating charges | 640/8 | €38,123 | €87,362 | +€49,240 | +129.2% |
| Operating profit (loss) | 9901 | €659,892 | €861,810 | +€201,918 | +30.6% |
| Financial income | 75/76B | €67,680 | €1,462,125 | +€1.4m | +2060.3% |
| Recurring financial income | 75 | €67,680 | €1,462,125 | +€1.4m | +2060.3% |
| Income from financial fixed assets | 750 | - | €1,100,931 | +€1.1m | |
| Income from current assets | 751 | €67,680 | €143,635 | +€75,955 | +112.2% |
| Other financial income | 752/9 | €0 | €217,559 | +€217,559 | |
| Financial charges | 65/66B | €18,485 | €19,293 | +€809 | +4.4% |
| Recurring financial charges | 65 | €18,485 | €19,293 | +€809 | +4.4% |
| Debt charges | 650 | €17,561 | €17,409 | -€152 | -0.9% |
| Other financial charges | 652/9 | €923 | €1,884 | +€961 | +104.0% |
| Profit (loss) for the period before taxes | 9903 | €709,088 | €2,304,642 | +€1.6m | +225.0% |
| Income taxes | 67/77 | €190,384 | €261,210 | +€70,826 | +37.2% |
| Taxes | 670/3 | €190,384 | €261,210 | +€70,826 | +37.2% |
| Profit (loss) for the period | 9904 | €518,703 | €2,043,432 | +€1.5m | +294.0% |
| Profit (loss) for the period to be appropriated | 9905 | €518,703 | €2,043,432 | +€1.5m | +294.0% |
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 7 October 2026 via checked.be.