MASUM: 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.
MASUM
Largest movements
- Stocks and contracts +€28,960
up €28,960 (+139.1%), from €20,826 to €49,786
- Receivables within one year +€1,006
up €1,006 (+20.8%), from €4,830 to €5,836
- Cash +€848
up €848 (+186.5%), from €455 to €1,303
mainly Trade debts (+€17,721) and Tax, wage and social debts (+€15,345)
- Trade debts +€17,721
up €17,721 (+42.8%), from €41,406 to €59,126
- Tax, wage and social debts +€15,345
up €15,345 (+48.1%), from €31,880 to €47,225
- Profit (loss) carried forward -€2,251
down €2,251 (-4.3%), from -€52,176 to -€54,427
- Purchases and services -€28,542
down €28,542 (-16.8%), from €169,609 to €141,067
- Turnover -€18,046
down €18,046 (-8.9%), from €203,152 to €185,107
- Gross operating margin +€10,496
up €10,496 (+31.3%), from €33,543 to €44,039
- Staff costs +€4,740
up €4,740 (+11.4%), from €41,495 to €46,235
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,111 | €56,925 | +€30,814 | +118.0% |
| Current assets | 29/58 | €26,111 | €56,925 | +€30,814 | +118.0% |
| Stocks and contracts in progress | 3 | €20,826 | €49,786 | +€28,960 | +139.1% |
| Stocks | 30/36 | €20,826 | €49,786 | +€28,960 | +139.1% |
| Amounts receivable within one year | 40/41 | €4,830 | €5,836 | +€1,006 | +20.8% |
| Other amounts receivable | 41 | €4,830 | €5,836 | +€1,006 | +20.8% |
| Cash at bank and in hand | 54/58 | €455 | €1,303 | +€848 | +186.5% |
| Total equity and liabilities | 10/49 | €26,111 | €56,925 | +€30,814 | +118.0% |
| Equity | 10/15 | -€47,176 | -€49,427 | -€2,251 | -4.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,176 | -€54,427 | -€2,251 | -4.3% |
| Amounts payable | 17/49 | €73,286 | €106,352 | +€33,065 | +45.1% |
| Amounts payable within one year | 42/48 | €73,286 | €106,352 | +€33,065 | +45.1% |
| Trade debts | 44 | €41,406 | €59,126 | +€17,721 | +42.8% |
| Suppliers | 440/4 | €41,406 | €59,126 | +€17,721 | +42.8% |
| Taxes, remuneration and social security | 45 | €31,880 | €47,225 | +€15,345 | +48.1% |
| Remuneration and social security | 454/9 | €31,880 | €47,225 | +€15,345 | +48.1% |
| Turnover | 70 | €203,152 | €185,107 | -€18,046 | -8.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €169,609 | €141,067 | -€28,542 | -16.8% |
| Remuneration, social security and pensions | 62 | €41,495 | €46,235 | +€4,740 | +11.4% |
| Other operating charges | 640/8 | €1,701 | €10 | -€1,691 | -99.4% |
| Gross operating margin | 9900 | €33,543 | €44,039 | +€10,496 | +31.3% |
| Operating profit (loss) | 9901 | -€9,653 | -€2,206 | +€7,447 | +77.1% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,698 | -€2,251 | +€7,447 | +76.8% |
| Profit (loss) for the period | 9904 | -€9,698 | -€2,251 | +€7,447 | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,698 | -€2,251 | +€7,447 | +76.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.