MP Massart: 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.
MP Massart
Largest movements
- Cash +€139,922
up €139,922 (+34.3%), from €407,790 to €547,712
mainly Other debts (+€166,769) and Net result for the year (+€102,640)
- Tangible fixed assets -€22,545
down €22,545 (-9.0%), from €251,840 to €229,295
of which Furniture and vehicles: -€11,815
- Other debts +€166,769
up €166,769 (+199.3%), from €83,695 to €250,464
- Reserves -€65,000
down €65,000 (-20.2%), from €321,000 to €256,000
of which Distributable reserves: -€65,000
- Tax, wage and social debts +€37,866
up €37,866 (+315.6%), from €12,000 to €49,866
- Debts after one year -€19,660
down €19,660 (-85.9%), from €22,887 to €3,227
- Gross operating margin +€28,087
up €28,087 (+15.0%), from €186,964 to €215,051
- Taxes +€17,340
up €17,340 (+42.8%), from €40,527 to €57,866
- Financial charges -€16,427
down €16,427 (-87.0%), from €18,874 to €2,447
- Financial income +€2,186
up €2,186 (+308.2%), from €709 to €2,895
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 | €659,630 | €777,007 | +€117,377 | +17.8% |
| Fixed assets | 21/28 | €251,840 | €229,295 | -€22,545 | -9.0% |
| Tangible fixed assets | 22/27 | €251,840 | €229,295 | -€22,545 | -9.0% |
| Land and buildings | 22 | €209,061 | €201,359 | -€7,702 | -3.7% |
| Plant, machinery and equipment | 23 | €9,680 | €6,651 | -€3,028 | -31.3% |
| Furniture and vehicles | 24 | €33,099 | €21,285 | -€11,815 | -35.7% |
| Current assets | 29/58 | €407,790 | €547,712 | +€139,922 | +34.3% |
| Cash at bank and in hand | 54/58 | €407,790 | €547,712 | +€139,922 | +34.3% |
| Total equity and liabilities | 10/49 | €659,630 | €777,007 | +€117,377 | +17.8% |
| Equity | 10/15 | €512,786 | €450,426 | -€62,360 | -12.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €321,000 | €256,000 | -€65,000 | -20.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €310,000 | €245,000 | -€65,000 | -21.0% |
| Profit (loss) carried forward | 14 | €171,786 | €174,426 | +€2,640 | +1.5% |
| Amounts payable | 17/49 | €146,844 | €326,582 | +€179,737 | +122.4% |
| Amounts payable after more than one year | 17 | €22,887 | €3,227 | -€19,660 | -85.9% |
| Financial debts | 170/4 | €22,887 | €3,227 | -€19,660 | -85.9% |
| Amounts payable within one year | 42/48 | €122,757 | €320,925 | +€198,167 | +161.4% |
| Current portion of amounts payable after more than one year | 42 | €25,482 | €19,660 | -€5,822 | -22.8% |
| Trade debts | 44 | €1,580 | €934 | -€646 | -40.9% |
| Suppliers | 440/4 | €1,580 | €934 | -€646 | -40.9% |
| Taxes, remuneration and social security | 45 | €12,000 | €49,866 | +€37,866 | +315.6% |
| Taxes | 450/3 | €12,000 | €49,866 | +€37,866 | +315.6% |
| Other amounts payable | 47/48 | €83,695 | €250,464 | +€166,769 | +199.3% |
| Accrued charges and deferred income | 492/3 | €1,200 | €2,430 | +€1,230 | +102.5% |
| Remuneration, social security and pensions | 62 | €26,447 | €27,509 | +€1,062 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,153 | €25,714 | +€562 | +2.2% |
| Other operating charges | 640/8 | €1,561 | €1,770 | +€208 | +13.3% |
| Gross operating margin | 9900 | €186,964 | €215,051 | +€28,087 | +15.0% |
| Operating profit (loss) | 9901 | €133,803 | €160,058 | +€26,255 | +19.6% |
| Financial income | 75/76B | €709 | €2,895 | +€2,186 | +308.2% |
| Recurring financial income | 75 | €709 | €2,895 | +€2,186 | +308.2% |
| Financial charges | 65/66B | €18,874 | €2,447 | -€16,427 | -87.0% |
| Recurring financial charges | 65 | €18,874 | €2,447 | -€16,427 | -87.0% |
| Profit (loss) for the period before taxes | 9903 | €115,638 | €160,506 | +€44,868 | +38.8% |
| Income taxes | 67/77 | €40,527 | €57,866 | +€17,340 | +42.8% |
| Profit (loss) for the period | 9904 | €75,112 | €102,640 | +€27,528 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,112 | €102,640 | +€27,528 | +36.6% |
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.