COSTMASTERS: 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.
COSTMASTERS
Largest movements
- Current investments -€128,450
down €128,450 (-49.4%), from €260,131 to €131,681
- Receivables within one year +€68,241
up €68,241 (+216%), from €31,562 to €99,803
of which Trade receivables: +€69,891
- Tangible fixed assets -€13,800
down €13,800 (-5.2%), from €265,818 to €252,018
of which Land and buildings: -€13,747
- Other debts -€142,392
down €142,392 (-26.7%), from €533,547 to €391,156
- Reserves +€99,752
up €99,752 (+27.0%), from €368,886 to €468,639
of which Distributable reserves: +€101,800
- Gross operating margin +€51,355
up €51,355 (+27.2%), from €188,784 to €240,139
- Taxes +€20,399
up €20,399 (+64.5%), from €31,619 to €52,017
- Financial income +€4,142
up €4,142 (+132%), from €3,142 to €7,285
- Staff costs +€3,851
up €3,851 (+9.8%), from €39,474 to €43,325
- Financial charges +€2,503
up €2,503 (+12.2%), from €20,445 to €22,948
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 | €1,137,941 | €1,078,791 | -€59,151 | -5.2% |
| Fixed assets | 21/28 | €716,916 | €710,451 | -€6,465 | -0.9% |
| Tangible fixed assets | 22/27 | €265,818 | €252,018 | -€13,800 | -5.2% |
| Land and buildings | 22 | €265,765 | €252,018 | -€13,747 | -5.2% |
| Furniture and vehicles | 24 | €53 | - | -€53 | |
| Financial fixed assets | 28 | €451,098 | €458,433 | +€7,335 | +1.6% |
| Current assets | 29/58 | €421,025 | €368,340 | -€52,685 | -12.5% |
| Amounts receivable within one year | 40/41 | €31,562 | €99,803 | +€68,241 | +216% |
| Trade receivables | 40 | €29,911 | €99,801 | +€69,891 | +234% |
| Other amounts receivable | 41 | €1,651 | €1 | -€1,649 | -99.9% |
| Current investments | 50/53 | €260,131 | €131,681 | -€128,450 | -49.4% |
| Cash at bank and in hand | 54/58 | €128,428 | €135,550 | +€7,122 | +5.5% |
| Deferred charges and accrued income | 490/1 | €905 | €1,307 | +€402 | +44.5% |
| Total equity and liabilities | 10/49 | €1,137,941 | €1,078,791 | -€59,151 | -5.2% |
| Equity | 10/15 | €394,200 | €493,956 | +€99,756 | +25.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €368,886 | €468,639 | +€99,752 | +27.0% |
| Tax-exempt reserves | 132 | €73,307 | €71,259 | -€2,048 | -2.8% |
| Distributable reserves | 133 | €295,580 | €397,380 | +€101,800 | +34.4% |
| Profit (loss) carried forward | 14 | €313 | €317 | +€4 | +1.2% |
| Provisions and deferred taxes | 16 | €145,832 | €144,729 | -€1,103 | -0.8% |
| Provisions for liabilities and charges | 160/5 | €126,363 | €126,363 | = | 0.0% |
| Pensions and similar obligations | 160 | €126,363 | €126,363 | = | 0.0% |
| Deferred taxes | 168 | €19,469 | €18,366 | -€1,103 | -5.7% |
| Amounts payable | 17/49 | €597,910 | €440,106 | -€157,804 | -26.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €597,910 | €440,106 | -€157,804 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €5,764 | - | -€5,764 | |
| Trade debts | 44 | €4,162 | €3,752 | -€410 | -9.9% |
| Suppliers | 440/4 | €4,162 | €3,752 | -€410 | -9.9% |
| Advances received on contracts in progress | 46 | €11,187 | - | -€11,187 | |
| Taxes, remuneration and social security | 45 | €43,250 | €45,199 | +€1,949 | +4.5% |
| Taxes | 450/3 | €37,612 | €38,968 | +€1,356 | +3.6% |
| Remuneration and social security | 454/9 | €5,637 | €6,231 | +€593 | +10.5% |
| Other amounts payable | 47/48 | €533,547 | €391,156 | -€142,392 | -26.7% |
| Non-recurring operating income | 76A | €151 | - | -€151 | |
| Remuneration, social security and pensions | 62 | €39,474 | €43,325 | +€3,851 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,756 | €13,800 | -€956 | -6.5% |
| Other operating charges | 640/8 | €4,240 | €4,320 | +€80 | +1.9% |
| Gross operating margin | 9900 | €188,784 | €240,139 | +€51,355 | +27.2% |
| Operating profit (loss) | 9901 | €130,314 | €178,694 | +€48,381 | +37.1% |
| Financial income | 75/76B | €3,142 | €7,285 | +€4,142 | +132% |
| Recurring financial income | 75 | €3,142 | €7,285 | +€4,142 | +132% |
| Financial charges | 65/66B | €20,445 | €22,948 | +€2,503 | +12.2% |
| Recurring financial charges | 65 | €20,445 | €22,948 | +€2,503 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €113,011 | €163,031 | +€50,020 | +44.3% |
| Transfer from deferred taxes | 780 | €1,103 | €1,103 | = | 0.0% |
| Income taxes | 67/77 | €31,619 | €52,017 | +€20,399 | +64.5% |
| Profit (loss) for the period | 9904 | €82,495 | €112,116 | +€29,622 | +35.9% |
| Transfer from tax-exempt reserves | 789 | €2,048 | €2,048 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,542 | €114,164 | +€29,622 | +35.0% |
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 18 October 2026 via checked.be.