MASY NADINE: 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.
MASY NADINE
Largest movements
- Cash -€21,951
down €21,951 (-40.8%), from €53,848 to €31,897
mainly Net result for the year (-€28,532) and Other debts (-€4,631)
- Receivables within one year -€4,857
down €4,857 (-100%), from €4,857 to €0
- Tangible fixed assets -€3,991
down €3,991 (-33.4%), from €11,945 to €7,954
of which Furniture and vehicles: -€4,547
- Deferred charges and accrued income +€867
up €867 (+8.6%), from €10,068 to €10,935
- Profit (loss) carried forward -€28,532
down €28,532 (-123%), from -€23,148 to -€51,680
- Other debts -€4,631
down €4,631 (-40.3%), from €11,505 to €6,874
- Trade debts +€2,849
up €2,849 (+95.5%), from €2,982 to €5,831
- Gross operating margin -€22,994
down €22,994 (-22.6%), from €101,915 to €78,921
- Taxes -€1,101
down €1,101 (-86.9%), from €1,267 to €167
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.
Derived cash bridge
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 | €81,487 | €51,295 | -€30,192 | -37.1% |
| Formation expenses | 20 | €769 | €509 | -€260 | -33.8% |
| Fixed assets | 21/28 | €11,945 | €7,954 | -€3,991 | -33.4% |
| Tangible fixed assets | 22/27 | €11,945 | €7,954 | -€3,991 | -33.4% |
| Plant, machinery and equipment | 23 | €486 | €1,251 | +€765 | +157% |
| Furniture and vehicles | 24 | €10,715 | €6,168 | -€4,547 | -42.4% |
| Other tangible fixed assets | 26 | €744 | €535 | -€209 | -28.1% |
| Current assets | 29/58 | €68,773 | €42,832 | -€25,941 | -37.7% |
| Amounts receivable within one year | 40/41 | €4,857 | €0 | -€4,857 | -100% |
| Other amounts receivable | 41 | €4,857 | €0 | -€4,857 | -100% |
| Cash at bank and in hand | 54/58 | €53,848 | €31,897 | -€21,951 | -40.8% |
| Deferred charges and accrued income | 490/1 | €10,068 | €10,935 | +€867 | +8.6% |
| Total equity and liabilities | 10/49 | €81,487 | €51,295 | -€30,192 | -37.1% |
| Equity | 10/15 | €54,582 | €26,050 | -€28,532 | -52.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €47,730 | €47,730 | = | 0.0% |
| Tax-exempt reserves | 132 | €456 | €456 | = | 0.0% |
| Distributable reserves | 133 | €47,274 | €47,274 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,148 | -€51,680 | -€28,532 | -123% |
| Amounts payable | 17/49 | €26,905 | €25,244 | -€1,661 | -6.2% |
| Amounts payable within one year | 42/48 | €26,905 | €25,244 | -€1,661 | -6.2% |
| Financial debts | 43 | €797 | €429 | -€368 | -46.2% |
| Other loans | 439 | €797 | €429 | -€368 | -46.2% |
| Trade debts | 44 | €2,982 | €5,831 | +€2,849 | +95.5% |
| Suppliers | 440/4 | €2,982 | €5,831 | +€2,849 | +95.5% |
| Taxes, remuneration and social security | 45 | €11,621 | €12,111 | +€490 | +4.2% |
| Taxes | 450/3 | €161 | €327 | +€167 | +104% |
| Remuneration and social security | 454/9 | €11,461 | €11,784 | +€323 | +2.8% |
| Other amounts payable | 47/48 | €11,505 | €6,874 | -€4,631 | -40.3% |
| Remuneration, social security and pensions | 62 | €99,365 | €99,421 | +€55 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,760 | €6,390 | -€370 | -5.5% |
| Other operating charges | 640/8 | €1,095 | €1,322 | +€226 | +20.7% |
| Gross operating margin | 9900 | €101,915 | €78,921 | -€22,994 | -22.6% |
| Operating profit (loss) | 9901 | -€5,306 | -€28,211 | -€22,906 | -432% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €264 | €154 | -€110 | -41.7% |
| Recurring financial charges | 65 | €264 | €154 | -€110 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,569 | -€28,365 | -€22,796 | -409% |
| Income taxes | 67/77 | €1,267 | €167 | -€1,101 | -86.9% |
| Profit (loss) for the period | 9904 | -€6,836 | -€28,532 | -€21,695 | -317% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,836 | -€28,532 | -€21,695 | -317% |
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 20 October 2026 via checked.be.