Statement of financial position
For the year ended at December 31, 2025 Read more about Statement of financial position .
Statement of comprehensive income
For the year ended at December 31, 2025 Read more about Statement of comprehensive income .
Statement of changes in fund capital
For the year ended at December 31, 2025 Read more about Statement of changes in fund capital .
Statement of cash flows
For the year ended December 31, 2025 Read more about Statement of cash flows .
Summary of material accounting policies
MASSIF ("the Fund") was established in 2006 by the Dutch Ministry of Foreign Affairs to provide risk capital and local currency financing to financial intermediaries in developing countries who in turn serve micro- and small-scale entrepreneurs and Read more about Summary of material accounting policies .
Notes to the financial statements
The amount relates to balance of the bank account maintained by FMO on behalf of the Fund. Read more about Notes to the financial statements .
Risk management
For FMO, acting in its role as Fund Manager (hereafter ‘FMO’), to be able to carry out the Fund’s strategy, it is essential to have an adequate risk management system in place to identify, measure, monitor and mitigate financial risks. Read more about Risk management .