GENERAL MASTER BUSINESS: 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.
GENERAL MASTER BUSINESS
Largest movements
- Cash -€7,975
down €7,975 (-16.3%), from €49,025 to €41,050
mainly Net result for the year (-€29,500) and Tax, wage and social debts (-€2,975)
- Receivables within one year -€7,053
down €7,053 (-47.9%), from €14,720 to €7,668
of which Trade receivables: -€7,199
- Tangible fixed assets -€6,317
down €6,317 (-48.3%), from €13,092 to €6,775
of which Furniture and vehicles: -€6,177
- Profit (loss) carried forward -€29,500
down €29,500 (-49.9%), from -€59,084 to -€88,585
- Other debts +€14,350
up €14,350 (+20.5%), from €69,850 to €84,200
- Tax, wage and social debts -€2,975
no longer reported in 2025 (was €2,975)
- Trade debts -€2,702
down €2,702 (-32.2%), from €8,383 to €5,681
- Gross operating margin -€31,378
down €31,378, from €24,248 to -€7,130
- Staff costs -€14,760
down €14,760 (-71.7%), from €20,596 to €5,837
- Financial charges -€8,022
down €8,022 (-95.9%), from €8,368 to €346
- Other operating charges +€918
up €918 (+12.9%), from €7,131 to €8,050
- Depreciation +€445
up €445 (+6.4%), from €6,989 to €7,433
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 | €92,409 | €71,157 | -€21,252 | -23.0% |
| Fixed assets | 21/28 | €13,229 | €6,912 | -€6,317 | -47.8% |
| Tangible fixed assets | 22/27 | €13,092 | €6,775 | -€6,317 | -48.3% |
| Furniture and vehicles | 24 | €11,982 | €5,805 | -€6,177 | -51.6% |
| Other tangible fixed assets | 26 | €1,110 | €970 | -€140 | -12.6% |
| Financial fixed assets | 28 | €137 | €137 | = | 0.0% |
| Current assets | 29/58 | €79,180 | €64,246 | -€14,934 | -18.9% |
| Amounts receivable within one year | 40/41 | €14,720 | €7,668 | -€7,053 | -47.9% |
| Trade receivables | 40 | €14,720 | €7,521 | -€7,199 | -48.9% |
| Other amounts receivable | 41 | - | €147 | +€147 | |
| Current investments | 50/53 | €15,435 | €15,528 | +€93 | +0.6% |
| Cash at bank and in hand | 54/58 | €49,025 | €41,050 | -€7,975 | -16.3% |
| Total equity and liabilities | 10/49 | €92,409 | €71,157 | -€21,252 | -23.0% |
| Equity | 10/15 | €10,777 | -€18,723 | -€29,500 | |
| Contributions | 10/11 | €63,510 | €63,510 | = | 0.0% |
| Capital | 10 | €63,510 | €63,510 | = | 0.0% |
| Issued capital | 100 | €63,510 | €63,510 | = | 0.0% |
| Reserves | 13 | €6,351 | €6,351 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,351 | €6,351 | = | 0.0% |
| Legal reserve | 130 | €6,351 | €6,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,084 | -€88,585 | -€29,500 | -49.9% |
| Amounts payable | 17/49 | €81,632 | €89,881 | +€8,248 | +10.1% |
| Amounts payable within one year | 42/48 | €81,632 | €89,881 | +€8,248 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €424 | - | -€424 | |
| Trade debts | 44 | €8,383 | €5,681 | -€2,702 | -32.2% |
| Suppliers | 440/4 | €8,383 | €5,681 | -€2,702 | -32.2% |
| Taxes, remuneration and social security | 45 | €2,975 | - | -€2,975 | |
| Remuneration and social security | 454/9 | €2,975 | - | -€2,975 | |
| Other amounts payable | 47/48 | €69,850 | €84,200 | +€14,350 | +20.5% |
| Remuneration, social security and pensions | 62 | €20,596 | €5,837 | -€14,760 | -71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,989 | €7,433 | +€445 | +6.4% |
| Other operating charges | 640/8 | €7,131 | €8,050 | +€918 | +12.9% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €24,248 | -€7,130 | -€31,378 | |
| Operating profit (loss) | 9901 | -€10,531 | -€28,449 | -€17,918 | -170% |
| Financial income | 75/76B | €153 | €371 | +€218 | +142% |
| Recurring financial income | 75 | €153 | €371 | +€218 | +142% |
| Financial charges | 65/66B | €8,368 | €346 | -€8,022 | -95.9% |
| Recurring financial charges | 65 | €8,368 | €346 | -€8,022 | -95.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,746 | -€28,425 | -€9,679 | -51.6% |
| Income taxes | 67/77 | €741 | €1,076 | +€335 | +45.2% |
| Profit (loss) for the period | 9904 | -€19,487 | -€29,500 | -€10,013 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,487 | -€29,500 | -€10,013 | -51.4% |
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 26 October 2026 via checked.be.