AC Masters: 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.
AC Masters
Largest movements
- Receivables within one year +€25,295
up €25,295 (+61.5%), from €41,109 to €66,404
of which Trade receivables: +€25,858
- Tangible fixed assets -€2,102
down €2,102 (-53.7%), from €3,916 to €1,814
of which Plant, machinery and equipment: -€1,350
- Cash +€2,006
up €2,006 (+18.0%), from €11,144 to €13,150
mainly Trade debts (+€40,127) and Depreciation (+€2,102)
- Trade debts +€40,127
up €40,127 (+150.2%), from €26,716 to €66,843
- Other debts -€10,468
down €10,468 (-22.7%), from €46,022 to €35,555
- Profit (loss) carried forward -€3,507
down €3,507 (-18.6%), from -€18,823 to -€22,330
- Tax, wage and social debts -€953
no longer reported in 2025 (was €953)
- Gross operating margin -€4,724
down €4,724, from €4,445 to -€279
- Other operating charges -€162
no longer reported in 2025 (was €162)
- Financial income -€141
down €141 (-99.3%), from €142 to €1
- Financial charges +€105
up €105 (+10.3%), from €1,022 to €1,127
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 | €56,169 | €81,368 | +€25,200 | +44.9% |
| Fixed assets | 21/28 | €3,916 | €1,814 | -€2,102 | -53.7% |
| Tangible fixed assets | 22/27 | €3,916 | €1,814 | -€2,102 | -53.7% |
| Plant, machinery and equipment | 23 | €2,700 | €1,350 | -€1,350 | -50.0% |
| Furniture and vehicles | 24 | €1,216 | €464 | -€752 | -61.8% |
| Current assets | 29/58 | €52,253 | €79,554 | +€27,301 | +52.2% |
| Amounts receivable within one year | 40/41 | €41,109 | €66,404 | +€25,295 | +61.5% |
| Trade receivables | 40 | €40,510 | €66,368 | +€25,858 | +63.8% |
| Other amounts receivable | 41 | €599 | €37 | -€562 | -93.8% |
| Cash at bank and in hand | 54/58 | €11,144 | €13,150 | +€2,006 | +18.0% |
| Total equity and liabilities | 10/49 | €56,169 | €81,368 | +€25,200 | +44.9% |
| Equity | 10/15 | -€17,523 | -€21,030 | -€3,507 | -20.0% |
| Contributions | 10/11 | €1,300 | €1,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,823 | -€22,330 | -€3,507 | -18.6% |
| Amounts payable | 17/49 | €73,692 | €102,398 | +€28,706 | +39.0% |
| Amounts payable within one year | 42/48 | €73,692 | €102,398 | +€28,706 | +39.0% |
| Trade debts | 44 | €26,716 | €66,843 | +€40,127 | +150.2% |
| Suppliers | 440/4 | €26,716 | €66,843 | +€40,127 | +150.2% |
| Taxes, remuneration and social security | 45 | €953 | - | -€953 | |
| Taxes | 450/3 | €953 | - | -€953 | |
| Other amounts payable | 47/48 | €46,022 | €35,555 | -€10,468 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,102 | €2,102 | = | 0.0% |
| Other operating charges | 640/8 | €162 | - | -€162 | |
| Gross operating margin | 9900 | €4,445 | -€279 | -€4,724 | |
| Operating profit (loss) | 9901 | €2,181 | -€2,380 | -€4,562 | |
| Financial income | 75/76B | €142 | €1 | -€141 | -99.3% |
| Recurring financial income | 75 | €142 | €1 | -€141 | -99.3% |
| Financial charges | 65/66B | €1,022 | €1,127 | +€105 | +10.3% |
| Recurring financial charges | 65 | €1,022 | €1,127 | +€105 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €1,301 | -€3,507 | -€4,808 | |
| Profit (loss) for the period | 9904 | €1,301 | -€3,507 | -€4,808 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,301 | -€3,507 | -€4,808 |
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 9 October 2026 via checked.be.